Is the TI scanner the best in the market? The world is changing, and we are no longer relying on each other for trading tips and tricks. There’s something else lurking in the background you might want to pay attention to. That’s right, artificial intelligence (AI) has now permeated the trading world, and it’s something you should be curious about.
About Trade Ideas
Without a doubt, Trade Ideas is one of the top stock scanners available on the market today and the de-facto scanner for serious traders!
In short, Trade Ideas is a standalone screening tool that uses advanced analytic tools to find the best stocks to trade. Their platform offers tons of different types of scans to help you find golden trading opportunities in real-time.
And for those traders looking to develop their own strategies or a hybrid variation of such, Trade Ideas Pro is flexible enough to accommodate. And if you want an endless stream of ideas throughout the trading day, TI’s is pretty much your end-all.
Finally, Trade Ideas provides users with valuable information on how to trade the stocks they pick. You get assessments for risk along with suggestions for growth and capital preservation.
Automated Trading Is Here And Here To Stay
She’s got blonde hair and blue eyes; her name is Holly, and she’s here to stay. Trade Ideas uses Holly, an Artificial Intelligence (AI) powered Robo-advisor to find and execute trades.
Put simply; it is a dynamic speculation system that suggests trades. Holly’s made up of several dozen different investment algorithms coded with over a million trading scenarios.
She runs these scenarios overnight to arrive at a subset with the highest probability of trading in the next market session.
What I like about AI is that it can analyze far more data than a person. In theory, it could find several trading opportunities a human would miss.
What Does Holly Do?
With the flurry of activity in the market, not to mention the hundreds of indicators, we can’t attend to everything. In my honest opinion, information overload is one of the limiting factors of being human and trying to trade.
But with Holly, she looks at everything, from the long, short, cheap and expensive, to the fundamental, social, technical data. Along with that, nothing’s missed because of a ringing phone, interruption from a spouse or a bathroom break.
Even if you’re skeptical, let me know if you can do this: After the market closes, Holly starts looking at what happened during the trading day. She calculates how the trading day statistically affected the last 60 trading days.
Based on this number, her AI splits the strategies up into at least 35 different concepts – each one has a different purpose-designed to help her beat the market.
She then takes the 35 strategies and looks at all the special Trade-Ideas filters to decide what she should modify to improve the outcome.
Only the strategies with a success rate above 60% and a 2:1 profit factor are visible to you the following day. For those of you still not convinced, their trading system outperformed thе S&P by over 98% іn 2018. So unless you did better than that trading by yourself, іt might bе worth checking out!
What Type of Trader Is Trade Ideas Best For?
This platform іѕ ideal fоr intra-day stock traders looking to trade not only normal market hours but the pre and post-market session.
Some would say swing traders would find some use in the platform if they increase their time-frame criteria.
Fast-forward to the last type of trader, the momentum trader who trades on the technicals. Now, I want to you picture how it would feel drinking from a fire hose; this applies to all scanners.
Well, this could be you if you don’t have a place to filter all the information. With a constant barrage of alerts and ideas, you need to know how to sort the wheat from the chaff. You can also paper trade on TradeIdeas now, built right into the platform. Cool!
Why Trade Ideas Is The Best Scanner In The Market
- You can create scans, identify trading opportunities, and build trading strategies
- The ability to backtest your strategies and easily tweak parameters to optimize your results
- Automate your strategies and have them execute directly through your Interactive Brokers account
- It’s easy to sign up and access the platform
- There’s something for everyone with three different versions of Holly for traders with different risk tolerances.
- A great platform on which to learn the ropes
- Free moderated live chat room
- Autotrading availability
A Few Cons Of Trade Ideas
- It’s free to sign up for the chat room meaning that anyone including trolls can easily sign up
- I difficulties accessing via desktop so we had to get an App and do so via phone
- Can be overwhelming with the constant stream of trade alerts – its a double-edged sword
- The charts could use a few more indicators
Trade Ideas is a game-changer and our single most used gappers scanner. Knowing which stocks are running hot and fast, and when, is key to being a successful day trader!
We want good price action, volatility, and volume. Trade Ideas scanner finds them all. In our opinion, this is the best scanner in the market.
In the Bullish Bears stock trading service, we share our Trade Ideas stock scanners as we are trading live each day in our trading room. Click here to purchase Trade Ideas and save 15% off using promo code “BULLISHBEARS15” (all caps) at checkout.