Let’s face it the Trade Ideas stock scanning tools don’t come cheap! You have to pay thousands of dollars to access the most basic ones available.
And with two plans available – Standard and Premium – it makes perfect sense want to know what each one of these two packages provides. That way, you can avoid overpaying for features you don’t need (or underpaying only to realize that you left the real “meat” on the table).
Standard Plan – Here’s What You Get
Priced at $118 or $1068 per year, the Standard Plan is probably better than what other services sell as “premium” or “platinum.” That’s because it comes with a handful of automation features along with one-on-one training from one of the most respected tutors on the net.
1. Streaming Trade Ideas
This is a specialized system that combines data from different sources providing you with trading insights. The system comes with built-in filters that you can use to filter out any data you don’t need. That way, you can avoid being overloaded with information as you try to keep up with the latest stock stats.
The icing on the cake is that this system enables you to stream real-time data on-the-go. So, if you’re tired of spending long hours sitting behind the computer, this is a system that can help free you up.
All you need to do is sign-in, track the data that matters to you and take action. Also, you’ll be able to keep your finger on the pulse and be in the know even when unusual occurrences take place in your markets of interest.
2. Charting Tools
You get 10 simultaneous charts when you opt for this subscription plan. So, the moment you receive an alert, all you need to do is rush to the chart windows to confirm it. That’s a good thing because you won’t have to leave the Trade Ideas platform.
Also, the fact that you can track 10 charts at once means you can keep an eye on different markets simultaneously. That way, you can visually observe the market movements so you can easily use the price alerts received to make decisions.
3. Price Alerts
You can grab a maximum of 500 price alerts with the Standard plan. Thanks to these alerts, you can react to market events in timely fashion.
If you’re a technical trader this is definitely something worth getting as it can alert you once your key price levels have been reached so you can take action.
This way, executing trades becomes much easier. You eliminate the guesswork and also free up your mind as the systems do the heavy-lifting for you.
4. Live Trading Room
If you would like to sharpen your trading skills through the expertise of a seasoned trainer, the Live Trading Room hosted by Barrie Einarson will be a great plus for you.
Barrie mainly walks you through the basics of using the Trade Ideas systems and also shows you how to make the most of the available resources.
Most importantly, he is the go-to guy if you’re looking for the confidence and discipline it takes to be a successful trader.
That said, if you’re a top-notch trader who is already familiar with the entire TI system, chances are that you’ll find his lessons to be quite basic. If that’s the case, you’re better off signing up for the premium package.
5. Brokerage Plus
Although B+ is meant to be used by traders with active premium accounts, the good news is that you can still access some of its features on the standard package. For instance, you can use it to manage your portfolio and also enjoy one-click trading through participating brokers.
For now, B+ is solely linked to Interactive Brokers but we hope that the good guys at TI will find ways to integrate it with other brokers as well.
Premium Plan – Here’s What You Get
This is the plan you’ll need to opt for if you want to explore all the features Trade Ideas (TI) is known for. We’re talking about Artificial Intelligence (AI) and the Autotrade feature on Brokerage Plus. That said, you’ll need to part with $228 per month for all that (plus $1100 for B+).
Under this package, you still get all the features found in the Standard Plan plus some extra badass ones.
1. AI Virtual Trading Assistant – Holly
Holly is the go-to person (oh sorry, she’s a robot) when you need to get stuff done. She scours the markets for you and provides you with insights to help you make solid decisions for your financial future.
The good thing with Holly is that once the markets close, she starts to analyze the day’s trends and compares those starts with the trends adopted over a period of 60-days. This way, she creates 35 different trading concepts which are then filtered to pick only the ones with a success rate of above 60%.
So, the next day in the morning, you get some awesome, well-thought-out trading strategies that you can implement. Holly is available in 3 different versions.
- Holly – This is the original version of the bot. It ran for 2 years until TI developed two newer versions of it.
- Holly 2 – This is a much more effective version of Holly only that it takes a more aggressive approach to trading. So, if you’re risk-averse, you might want to stick with the good old version of it.
- Holly Neo – It’s even much more aggressive than Holly 2 plus it uses techniques that the TI R&D department invents in real-time.
Other than Holly, the Premium version of TI comes with a lot more awesome features. We’d like to make a special mention of the following two.
2. Backtesting Tool
The best way to minimize risk as you trade is by backtesting your strategies. With Trade Ideas Premium, you get to assess the viability of your trading strategy and discover how it would play out in comparison to the existing historical data.
This tool enables you to simulate your trading strategy and assess its profitability without putting any money on the line. That alone can help you to minimize loses and maximize profit.
3. Autotrade with Brokerage Plus
Brokerage Plus or simply B+ is the newest kid on the block. It provides you with access to selected brokers (only Interactive Brokers for now). That way, you get to automate your alert strategy and execute trades easily.
As we mentioned, it is still possible to use B+ under the Standard Plan but your access to key features would be limited. It’s only after you upgrade to the Premium Plan that you can actually auto trade.
So, there you have it. If you are on a limited budget and want to gain some hands-on trading skills, the Standard Package would be a fantastic place to be.
However, if you want to make the most of the potency that Trade Ideas is known for, you’ll want to go for the Premium tier instead. It may be costly but we honestly think that it’s well worth it.