Trade-Ideas Review

Is Trade-Ideas really worth its monthly or yearly subscription? I get asked this question a lot recently, so I’ve decided to address that question in this review. I’ve been using Trade-Ideas as an algo, or auto trader successfully for over 8 months now. Since I’ve started trading with automation, I’ve not only be profitable, but I haven’t taken a manual trade in months. So after countless hours of using the software, I’m going to give a review of the good things and the parts need to be improved in Trade-Ideas. I hope you find the information in this Trade-Idea review helpful in your decision to subscribe or not.

An Honest Review of Trade-Ideas 2018

Trade-Ideas logo

What is Trade-Ideas?


Chances are if you are here, you already have an idea of what Trade-Ideas is. Basically Trade-Ideas is powerful tool that helps you build customized lists and alerts for any type of trade setup you can imagine. There are 100’s and 100’s of filters to work with. There are even more alerts that you can use. Anything that you can visualize on a chart, you are able to produce with this tool in real time. So if you only trade a very specific chart pattern but have a hard time finding it, this tool can help. Bundled along with these features is also the ability to back test any strategy you can design, and access to their AI technology which I will talk more about later.

Is Trade-Ideas easy to use?


The first time you load Trade-Ideas it can be a little overwhelming. But after reading over a few tutorials (all of which you can find here), you’ll get the hang of it pretty quickly. Each window is customizable and you can really make it fit anywhere you like on your trading computer. They snap well together and you can save multiple layouts for whatever your trading style is like. When you are building your custom lists and alerts, they have a nice summary tab that reads out in plain English what you are trying to accomplish making it easy to find any mistakes you might have made.

Trade-Ideas also provides you with a little space in their cloud which means you can move your settings and configurations around on multiple computers. I keep my auto trading done on a VPS (Virtual Private Server), I will work on my strategies from my laptop then save any changes and update them easily without any hassle on my server.

Alert Window

How Does Trade-Ideas work?


Trade-Ideas hosts a huge database with all the stocks in the US and Canadian markets. With all that data tracked, they have provided their customers with access to this data and with the use of the 100’s of filters and alerts, you can build your custom watch lists and alerts windows in real time. They’ve also provided a back-testing tool which you can use to test out different trading strategies to see if they work in the market.

One of the features they market the most is their proprietary AI named Holly. Using the same technologies that you’ve been giving access to, they have build an AI engine to scan the markets every night and configure new strategies for the next trading day. The results from Holly is quite fantastic. Customers of Trade-Ideas can access the Holly AI feature and examine which trades the AI is currently trading.

You can also use Trade-Ideas to connect to your Interactive Brokers account and have Trade-Ideas trade in your account on your behalf. Using Alert Windows that you’ve optimized in the back-testing tool (OddsMaker), you can fully automate your trading strategies.

Can I make money using Trade-Ideas?


This is a hard question to answer. Are you already a profitable trader without Trade-Ideas? If not then maybe you should examine why you are not successful as a trader first. While this a a whole different topic that I will answer in another post, you should be asking yourself what do you find attractive about Trade-Ideas and how can it improve your trading?

I started using Trade-Ideas because I wanted to move from being a a discretionary manual trader, to a full time auto trader where all my trades and executed, managed, and done by robots. I took my trading plans and with the aid of Trade-Ideas, turned my plans into various strategies that trade automatically even while I’m not at my computer!

Always remember to test any new strategies whether automated or manually executed in some form of demo or paper trading account.

equity curve

Is Trade-Ideas right for me?


It depends on what you want to accomplish with Trade-Ideas. Honestly if you are just wanting to use it to scan the market for gaps, then I don’t think its worth the price. If you are looking at setting up swing trades based on daily charts, then you can use the free version of the software with delayed data. You can still create and and use Top Lists and Alert Windows then plan your swing trades accordingly. But then the same can be said for all the other various scanners available.

Now if you are a serious day trader who needs the tools to help identify your favourite setups quickly then Trade-Ideas might be for you. Even some of the out of the box scanners pre-build are extremely useful in finding stocks that are moving right now with high volume.

If you want to get into automated trading then I would high recommend considering using Trade-Ideas. With all the filters and alerts to pick from, you can design any type of strategy you can imagine. Then simply plug that into the backtesting tool, optimize your strategy, and finally link your Interactive Brokers account to Trade-Ideas and configure the trading parameters. I’ve already build a how-to which you can find here. Also note, at the time of this writing, Trade-Ideas only supports IB for automated trading.

How much is Trade-Ideas?


Besides the free demo version with limited capabilities and delayed data, they offer 2 different types of subscriptions. They offer the standard version and then the premium version. They key difference between the two is that the premium version also gives you access to the AI, The back-testing tool called OddsMaker, and the Brokerage Plus software which allows you to connect to your IB account and trade directly from Trade-Ideas either manually or automatically.

VersionMonthly PriceAnnual Price
Standard $118 / month$1068 / year ($89 / month)
Premium $228 / month$2268 / year ($189 / month)

(Prices as of October 2018)

As you can see, its not the cheapest software out there however consider it like this. How many trades would you need to make each month to be able to pay for this? Of that, how many more trades could you make if you were using Trade-Ideas to help improve your trading?

Want to save a little extra money for the first month or year you subscribe to Trade-Ideas? Simply click this link here and use the discount code DAVID15 to get 15% off the first month or yearly subscription.

What is the Support like?

Hopefully you won’t need to contact their support for any issues. When I was first starting I would contact their support quite frequently as there is a lack of information available on the internet about their software. They do have a youtube channel with some training materials, but ultimately I learned mostly from trial and error. This is what inspired me to create many tutorials and how to’s about Trade-Ideas. You can find them here.

That being said, every time I did contact their support either by their chat or by their support email, they have been very fast and extremely helpful every time I’ve contacted them.

Key Features


List and Alerts

This will probably be the most used features of the program besides that back-testing tool if you are looking at purchasing the premium version. I use the lists to generate the trading ideas here on this site every day. I also share a morning gap list using some customized settings for my favourite types of gaps. I’m not joking when I say there are over 200+ filters to pick and choose from when building your lists.

Alerts windows are my favourite. They include all 200+ filters from the normal list windows, plus another 200+ different types of alerts!

Backtesting tool

The OddsMaker tool works pretty well. Sometimes it can be a little slow pulling the data from the servers but Trade-Ideas has worked hard on improving the server performance recently. I do wish there was a bit more data. They currently only go back 65 days or 1 quarter worth of data. It be nice maybe 1/2 a year’s worth. I personally don’t think you need more data than that when you are testing out different strategies when the market conditions are always changing. I’ve build automated robots worked for 2-3 months then as the market changed, I would rework them but just couldn’t get the same results as before.

Charting software

The Charting software that comes with Trade-Ideas is pretty basic. I wouldn’t give up your favourite charting tool if you love using several indicators and like to be able to customize the look and feel. It does however show you any trades that you’ve taken if you are using the Brokerage Plus tool and any signals that their AI picked up. What is really nice is that you do not have to pay extra for the data feeds, its included in the price.

Holly AI

The Holly AI is available when you are subscribed to the premium version of Trade-Ideas. They offer 3 different versions of the AI which will take different trades and have various performances that you can follow in real time. While you cannot configure Trade-Ideas to simply “follow” Holly and automatically take the same trades as the AI, you can watch and if you like the setup, right click the current trade it is taking, and trade it. You will need to configure the Brokerage Plus software to be connected to your TWS of Interactive Brokers.

Summary


Pros

  • Easy to use and one of the best real-time market scanners available
  • Can automate your trading
  • Can follow trade with the AI bots
  • Able to create any type of chart pattern using the filters and alerts
  • Free trading chat room
  • Customer Service is responsive

Cons

  • Can provide too many trading signals at once
  • Charting software badly needs more customization
  • Even with custom formula’s, you cannot build custom EMA/SMA’s
  • OddsMaker could use a little more reporting

Conclusion


Overall I’m very satisfied with Trade-Ideas. It’s the one tool that allowed me to go from sitting in front of my computer charts day trading, to complete freedom and still be able to trade the markets. I review the trades that my robots took during the market hours at the end of the day, and make any necessary modifications to my algos if needed.

If you are looking for a stock scanning tool Trade-Ideas might be a little expensive unless you are day trading and are looking for real time patterns that most free scanners or web based scanners will not be able to provide.

I would like to see a little improvement in the back testing tool, namely the results reports. The results page and give you a good idea of past performance but the $ value won’t be as accurate if you are using your stop loss and risk values that are “based on stop loss” like you can set in your trade settings when doing automated traded.

Finally I like the fact that you can do everything without writing one line of code. While I do know some coding, it would have taken me many more months if not at least 1 year longer to get where I am now just learning to properly code profitable trading strategies that I’ve already done and successfully day trade every day. 

If you are looking for more details or how to use Trade-Ideas, I’ve written up several different articles about how to use the specific features. You can find all them at the bottom of this page here.

I’d love to hear about your stories of what you think about Trade-Ideas. Leave a comment below and I’ll get back to you as soon as possible.

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