Trade-Ideas Pro is a powerful real-time stock scanner that can be accessed via browser or downloaded onto a Windows PC. Since we last reviewed Trade-Ideas, there have been many significant changes. For a start, the service is now offered through a downloadable program. More importantly, Trade-Ideas’ services have expanded significantly and are now more reliable, in that traders can feel much more comfortable about acting on information provided by the program.
Trade-Ideas Pro is a sophisticated and highly customizable program for active day traders who need market information in truly real time. For this reason, Trade-Ideas’ servers are connected directly to the exchanges, including NASDAQ, AMEX, and NYSE, so that users receive their information split seconds before users of some other day trading services.
Moreover, Trade-Ideas recognizes that the speed of a service almost does not matter if the trader’s computer cannot keep up with it. Therefore, all of the statistical analysis and pattern recognition services available on the program are performed server side, rather than on the user’s PC. This not only makes it easier for the PC to run smoothly, it also allows Trade-Ideas to offer its services via web browser and expand these services in the future with minimal performance drawbacks.
Traders who use other popular direct access and algorithmic trading software, such as QuoteTracker and RealTick, should find that Trade-Ideas Pro can link with these platforms.
To use Trade-Ideas Pro, after installation, users will first have to create an account, which can be done on the company’s website by selecting the Create Account link when asked to login. Creating an account is free and easy, but activation requires a subscription to the service. To use the demo version of Trade-Ideas Pro, users merely need to enter “DEMO” as both the user name and password. The demo mode uses the same program as subscribers, with a few exclusions: Some information is removed, charts and symbol lists are not available, alerts are delayed and the demo mode is slower.
As one would expect, Trade-Ideas is a complicated service for new traders. The program comes with a wealth of features right out of the box, which users expand on with their own symbol lists and screens, and purchase add-ons such as Odds Maker, which helps users evaluate strategies and calculate the odds of “winning” trades. However, Trade-Ideas offers its users a variety of support and training resources, from their free Hour of Power training, where an expert teaches subscribers how to use the service, to YouTube videos of a typical training session. These can be accessed from within the program, by going to the Help tab, and on the company’s website.
System Requirements: Windows 95/NT 4 or better (32-bit); strong Internet connection
Price: Standard Subscription: $75 per month; Advantage Player Subscription: $236 for the first month, $43 for each month after; $225 for three months; $628 for one year