Are you an active trader who is looking for powerful tools that can help you fully optimize your trading strategy? If so, then the Trade Ideas Scanner could be a stock scanner worth looking into! This scanning software supports thousands of stocks, offers simulated trading, and even enables you to utilize artificial intelligence (AI) in your day-to-day trading routine.
With so many options to choose from, is the Trade Ideas Scanner one that retail traders can actually benefit from? Or is it just another bloated piece of software that offers little beyond the novelty of AI-powered trading? You’ll have to keep reading to find out!
Active retail traders who are experienced with using trading tools. While long-term traders could certainly utilize this scanner, it’s intended primarily for day and swing traders. If you’re an experienced trader whose trading style centers around implementing real-time streaming trade ideas then you’ll definitely find this canner from Trade Ideas to be an invaluable tool!
Thanks to the plethora of real-time data offered across nearly the entire universe of stocks, this scanner is sure to provide you with plenty of trade opportunities. For many traders, the issue isn’t understanding the data; it’s being able to process the data fast enough.
Since Trade Ideas Scanner streamlines the entire process, you’re likely to notice a reduction in the amount of stress you feel while trading.
The Trade Ideas Scanner is more than a real-time screener for day trading. In fact, it offers a plethora of powerful features, which are taken to the next level with the AI abilities offered with a premium subscription.
Even the standard plan offers many advanced features that will enable you to instantly analyze thousands of stocks. You can use simultaneous charts at once to track a range of stocks at once, identify trends using the chart patterns, or sort through potential trades using the volume filter.
Of course, these are just a few of the features available on both of the Trade Ideas Scanners subscription plans. However, if you want to take advantage of Holly AI — TI’s proprietary artificial intelligence trading assistant—then you’ll need to upgrade to a “Premium Plan.”
With Brokerage Plus and an Interactive Brokers account, you can fully automate your trading strategy! If trusting your trades to AI sounds ludicrous, don’t worry: there’s also a semi-automated option. Holly AI will prep trades with Interactive Brokers, but she won’t actually make the trades “herself.” You’ll still get the final say.
As you’ve probably guessed, a scanner for day trading isn’t cheap. While the Trade Ideas Scanner isn’t as expensive as some trading tools we’ve seen, it’s still a fairly expensive stock scanning tool. Fortunately, you’ll have two subscription plans to choose between.
The “Standard” plan costs $84 per month (or $999 annually) and gives you instant access to the basic charting, chatting, and alert features. This plan offers enough functionality for most swing traders. However, it excludes some desirable features like Suggested Entry and Exit Signals, backtesting, and risk assessment.
Trade Ideas Premium is the option we’d recommend for day traders. Costing $167 per month ($1,999 annually), this plan unlocks every feature on the platform. Consequently, it will also give you access to many new trading opportunities you may have missed out on otherwise.
The main appeal of the Premium plan is the inclusion of AI features. Using Holly AI, you’ll be able to chart more effectively, process data faster, and even automate your entire trading day. That said, not all traders will decide to utilize AI. This could affect the value for money of this subscription.
Many would consider Trade Ideas to be the best stock scanner. However, it’s not the only option available for active investors. Compared to dedicated charting platforms, it doesn’t offer as much data as you may need. Especially, for those to properly implement their day trading strategies or effectively analyze volatile stocks.
If charting is the main feature for traders that you’re after. If you couldn’t care less about automated trading—then it may be worth considering a dedicated charting platform instead. TrendSpider is one such option.
While a stock scanner is an invaluable tool for the active day trader, a long-term investor will likely find more value in charting software. After all, they need something that can analyze the financial markets over an extended period of time.
Although pricey, the Trade Ideas Scanner has the potential to be a game changer when placed in the right hands. Individual investors who’ve never used the platform before should anticipate a learning curve. However, the benefits outweigh the learning time with all the powerful options the service offers.
Nonetheless, the key features—complex scanning/charting and AI integration—make the Trade Ideas Scanner worthy of your time. If you feel like you’ve been missing out on promising trades and want a streamlined way to increase your daily returns, take things to the next level with the Trade Ideas Scanner by clicking here!