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BTW The scanning software has a multitude trading criteria and parameters you can adjust and tweak for your trading. I want to stress that Trade-Ideas is not a secret sauce that will make you profitable. I played around with it for more than a year before I started seeing the 'light'.
Secondly, Trade-Ideas have always done a Xmas sale in the past of 25-30% off the normal around the 3rd/4th week of December so if you are interested I would hold out until then.
trade ideas claims AI Holly runs 8 algos all night , so the next morning you will have 8 set ups with charts , entry, stops, exits and with a win rate of 60% with a RR of 2 to 1 . a few clicks and your done for the day . if you re to lazy to get up and trade you can auto-trade Hollys picked set ups in an IB account. do you think this is true with you re experience with the software .
I am not a fan of signal services. I caught a webinar on TI and it peaked my interest. This morning I spent about two hours on their site going through doc and videos. I am not a customer as of today but I expect to give it a try. To me, it seems like an extremely strong toolset for sophisticated, multi-variable-dependent scans on Intraday data. I am sure that programmers can replicate but for a non-coder, the UI seem easy, with a huge library of variables. One can assemble these into alerts or trades. They have about 35 algos which are tested combinations of the many variables. You can use the algo for intraday trade ideas (updates every 30 seconds). The AI aspect is overnight they run 1M+ simulations and rank the algo for expected next day performance. That surfaces a about 5-8 algos to be active for the day. As stocks trigger in those algos, entries and exits are produced. One can auto-trade them on IBKR, eTrade and soon TDA. Or one can supervise or manual trade by approving the trade before the platform places it. Of course one can simply take the alerts and trade them.
If one does not want the AI stuff then the standard service (about $100) would be of interest to one that wants to build sophisticated intraday scans, without coding. Also, you can run the algos. I think the premium service (about $200/mth) is of interest to me. That allows the broker integration and the AI analysis of which algo should provide results that day.
There are two obvious questions: Are those 35 algos effective? And is the AI effective in predicting which algos will work best the next day.
I am not a customer yet but will report back. I suspect the answer is yes to both. It would only take several days to determine that their algos and AI work or do not.
Again, I am not a fan of signal services. I think it is incorrect to just throw TI into the same bucket as other signal services. It seems there is much more here.
I tried Trade-Ideas few years ago for the same reasons. I never bought the "licence" or anything after the demo.
At the time, I thought:
- They give a lot to their "affiliates" and this is why we can see "honest reviews", youtubers and webinars from other wouldbe traders and sellers.
- Backtesting is very limited, because of a lack of historical data (a maximum of few weeks, when I tried).
- They were very "pushy" during my trial and they constantly sent me incentives to buy the lifetime license.
- E-Signal, Tradestation, Ninja, Metastocks, and others are so much better.
- Now, online services are cheaper if not free and just better. Finviz is a good example.
At the time they didn't have signals, the hype was to make us better thanks to Trade-Ideas... Or something like that.
Well, after 2 or 3 days, I thought that was not for me. Was I slow to realize it at the time?... Yep.
Fonz, thx for responding with your experience. I will take it into consideration. I agree that the backtesting tools available in the market are extensive. For Trade-Ideas, I think their backtesting scope is short-term intraday, not a reason to subscribe. I plan to attend a trade room and see how that feels. My main interest is their current AI effectiveness in selecting which algos/scan to use each day, and auto-trading of very short-term (<60minute hold) trades. Enjoy the day!
FYI Trade-Ideas also have a FREE trade room where the moderator (Bernie Einarson) uses Trade Ideas to make trades live off Trade Ideas data. I don't use the room but its worth going to try out the room if you are interested in the product.
