Where to look for trading ideas

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Warrior Trading Blog

  • Ross Cameron
  • Trading Software Review
  • Reviews
Trade Ideas Review
  • Value For Investors

Summary

Trade Ideas is an invaluable asset for any trader. Out of the thousands of stocks in the market that you could trade, these scanners will find the small handful that are actually worth trading each day. There is nothing else that compares. It’s a 5 star product.

Pros

  • Free live trading room delivers very helpful guidance
  • Pre-defined channels provide quick looks at different investment sectors
  • Browser and desktop programs are available
  • Packages for professional traders
  • Multiple AIs for different interpretations
  • Autotrade capabilities
  • Simulated trading for extra practice
  • Trade suggestions for options and crypto traders

Cons

  • No mobile app
  • Subscriptions are expensive
  • Software takes time to learn
  • Robo trading tends to override individual decision-making
  • No actual trades can be placed through Trade Ideas

When I first signed up to Trade Ideas I thought the price was high for a piece of software that only provides scanning.

What I didn’t realize was how fundamental scanning is for every trader. In our trading courses and in our chat room I primarily teach a Momentum Trading Strategy.

This strategy requires finding fast moving stocks and taking trades on the first or second pullbacks. These pullbacks usually take the form of bull flags or flat top breakouts. As an educator it’s easy for me to teach trading strategies and tell students what good charts look like.

The fact is, it’s easy to look back on a chart and find a pattern. The hard part, but the most important element for successful trading, is finding patterns in real-time.

This is why traders need the best tools.

Trade Ideas Review

Trade Ideas offers a novel method of investment decision-making. In addition to multiple windows with the trading day’s major movements, the company’s software has an Artificial Intelligence.

It scans the markets and offers long and short recommendations. Could this be the future? You better believe it.

Brief Overview

If you’re still using a garden variety stock screener in hopes of finding trade opportunities, it’s time for change. You need to consider upgrading to something more robust. That’s where Trade Ideas comes in.

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It specializes in stock scanning. But the company delivers much more than just one simple scanner. Trade Ideas provides lots of powerful tools to look for assets that are temporarily showing abnormal technical signals.

Here’s the rundown:

Trade Ideas Pro

A desktop version of the company’s scanning software can be downloaded and quickly installed. Called Trade Ideas Pro, the platform offers several important scanning tools.

These are separated into multiple windows, which can be moved around the workspace as needed.

You’ll want to keep track of the top window. This is where the main menu is at. Because the other windows aren’t linked by default, you’ll probably want to select “Show All” at some point. It is found under the “Windows” menu.

The first window we want to look at is the day’s Biggest Gainers. You’ll notice it straight away because it’s one of the largest windows. It also is populated with lots of green lines. After all, these are the day’s biggest winners.

Columns include the day’s price change (in both $ and % terms), total volume, and position in range. This last column shows you how close the most recent print is to the day’s high or low. A score of 100 means the last print was the day’s high.

A zero tells you the last trade was the day’s low. A 50 is in between.

The day’s biggest losers have their own window, which of course shows entries in red.

Another useful window on the platform is High/Low RSI. This box displays stocks with RSI values above 90 (in green) and values below 10 (in red). Other columns include the time when the RSI level was surpassed, the day’s volume, and beta.

Other trade ideas can be found in the following windows that appear on the default layout:

  • Gappers
  • 5-min candles down
  • 5-mind candles up
  • Earnings plays
  • Surging up
  • Suring down

If you want more trade ideas, just add the Channel Bar. This is a vertical menu that sits in the far-left side of the workspace. To find it, click on “New” in the top menu and select “Channel Bar” from the drop-down menu.

Many tiles are shown in the Channel Bar. Clicking on one changes the windows in the workspace. For example, one tile is sector ETFs from SPDR. When we selected this option, all of our windows were replaced with sector ETF windows. Funds can be sorted by any column.

Another tile on Channel Bar is penny movers. This layout displays the day’s biggest movers in the realm of low-priced stocks. On the day we conducted our research, we found BITCF (First Bitcoin Capital).

The stock was up 1,255% for the day. Try to find that level of return somewhere else.

Idea Surfing is another feature on the platform. Turning this on allows the program to constantly update lists and charts in real-time with fresh ideas. If you have this turned on, be warned that your windows and the securities in them will automatically update.

Layouts on Trade Ideas Pro can be saved and loaded later. To do this, just go to “File” and select “Save layout.”

Keep in mind that each channel has its own layout. So if you want to save layouts for both China and financials, you have to save multiple files.

Browser Version

If you prefer a simpler version of the software you can use the company’s browser-based version of it. During our testing, we found it fairly easy to use. One important difference is the ability to freeze data inside a window.

We didn’t find this helpful feature on the desktop system.

Idea Surfing is available on the browser system. The Channel Bar is in the same position. But this time, it can’t be deleted. It can be minimized if you want. The same tiles are available, and clicking on one changes the layout.

Windows can be added to the browser platform, but they disappear without warning. It’s not possible to save layouts in the browser version. Overall, we felt that the desktop version provided the better trading experience.

Holly AI

Now we come to the holy grail of Trade Ideas’ software lineup: Holly. This is the company’s artificial intelligence, and she packs quite a punch.

Named after the Holy Grail, Holly is composed of multiple trading algorithms. At night between market sessions, she looks at the previous day’s market action. She uses millions of trading scenarios to make trading recommendations for the next day.

Holly analyzes the securities markets from several angles. She judges assets from short, long, expensive, cheap, fundamental, social, and technical perspectives. After running through lots of backtesting, Holly makes recommendations before the markets open.

Holly presents only trade ideas with a probability of success above 60%. She is able to suggest both long and short trade ideas.

There are three versions of Holly. The oldest version is Holly Grail. She ran for 2 years before metamorphosing into Holly 2. This one is based on the same AI engine as her predecessor, but her strategies tend to be more aggressive. Holly 2 is best used by speculators.

The third and final Holly (at least for now) is Holly Neo. She’s a completely different breed from the first two. Trade Ideas is updating her as we write this article; so apparently, she’s a work in progress.

It’s possible to use all three Holly’s at the same time. A window displays in its top bar which Holly is scanning the markets. So you can have three windows open simultaneously and compare what the different algorithms are suggesting.

Trade Ideas Pro displays profit targets and exit suggestions on a chart using Holly’s recommendations.

The advantage of using Holly seems to be that (despite her name) she’s not an actual human being. Thus, there is no risk of greed, panic, fear, or other human emotions. Everyone knows the stories of how these foibles have interfered with financial decisions in the past.

By using an AI to make trading decisions, human shortcomings are avoided.

Live Trading Room

Trade Ideas also offers a live trading room. It’s free to use and is run by a staff member of the company. This great service is up and running from 9:00 am until 3:30 pm, EST, during the week.

It’s a great resource for beginners who need some guidance on how to use all of Trade Ideas’ tools.

We asked a question through the chat system, and it was quickly answered. Thanks Barrie Einarson! Now we know how to use Idea Surfing.

Trade Idea’s Pricing

Having seen all these fascinating (and very high-tech) trading tools, you may be wondering what all of this costs.

There are two pricing plans: standard and premium. The former costs $1,068 per year and comes with some nice features.

  • Simulated trading
  • Up to 500 price alerts
  • Streaming trade ideas
  • The live trading room, and more

The premium plan costs more than twice as much ($2,268 per year, to be exact). But it comes with a lot more features.

They include everything in the standard plan plus:

  • Holly
  • Backtesting tools
  • Autotrade on Interactive Brokers with a subscription to Brokerage Plus
  • 20 simultaneous charts (the standard plan only gets 10)

The Brokerage Plus package offers the ability to autotrade strategies. It’s $1,100.

Trade Ideas Wealth is a subscription plan for professional money managers and investment advisors. The cost is a very steep $5,500 per year.

On the day we conducted our research, we were offered 15% off the software via a pop-up ad.

How I Use Trade Ideas

Bottom Line

Trade Ideas could be a huge game changer. An AI that scans the financial markets overnight looking for trade ideas. It scans far more times than you or I ever could.

It scans while you sleep, giving your biological clock the rest it needs.

But the software doesn’t need to rest. So it just keeps scanning. By the time you wake up, your robot has a list of trades you will place first thing in the morning. This is like the wheel, the printing press, the telegraph, the automobile.

It could completely change the way everyone has been trading all these years. Yea, it’s probably worth a try.

15% Discount on Trade Ideas – Coupon Code: DAYTRADEWARRIOR15

Over the years we have worked closely with Dan Mirkin, CEO of Trade Ideas. We present webinars together and collaborate to develop custom scanner settings.

We have worked together to offer Warrior Trading members a 15% special discount on their Trade-Ideas subscriptions so make sure to take advantage of it!

From time to time we refer third-party products or services to you. We may receive compensation from those third parties whose products or services we refer, however, our reviews and recommendations are independent of any compensation we may receive. There is no obligation for you to interact or transact with these third parties.

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1 Comment

roei amor

hello i download the scanner and i want to know where i find the layout that you using to day trade
Thanks

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Testimonials

Before I started trading, I would make $1000 in 2 weeks. Now after taking the warrior trading course, I can make that in a single day, at 26, I now own my own house and I am fully independent, thank you warrior trading for everything you have done for me, my future looks brighter than ever!

Max

I had a job I didn’t really like and I was forced to live five thousand miles away from my home Country. After joining Warrior Trading, I can trade from anywhere and my income is more than doubled. Thanks to this community, it now feels like I’ve been given the keys to absolute freedom.

Roberto

After 3 years of trading as a student my portfolio has net more than $230k. For year 2020, in less than 6 months I’ve net more than 140k. With Warrior Trading’s mentorship and my investment knowledge prior to coming on-board, I developed my own short term swing trading strategy.

Drew

On January 24th 2020 I started with $690 in my account. In March I made $4,433.89 and by April, my account was up 1,000%. I’d made $6,900 in 42 trading days.

Petr

I think trading is the only place in life where I can say I am totally responsible for my outcomes. That’s huge in a world where previously waiting on someone else to make decisions about my income felt like a prison. I now have full autonomy.

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Warrior Trading, PO Box 330, Great Barrington, MA 01230
1-530-723-5499

If you do not agree with any term of provision of our Terms and Conditions you should not use our Site, Services, Content or Information. Please be advised that your continued use of the Site, Services, Content, or Information provided shall indicate your consent and agreement to our Terms and Conditions.

Warrior Trading may publish testimonials or descriptions of past performance but these results are NOT typical, are not indicative of future results or performance, and are not intended to be a representation, warranty or guarantee that similar results will be obtained by you.

Ross Cameron’s experience with trading is not typical, nor is the experience of students featured in testimonials. They are experienced traders. Becoming an experienced trader takes hard work, dedication and a significant amount of time.

Your results may differ materially from those expressed or utilized by Warrior Trading due to a number of factors. We do not track the typical results of our current or past students. As a provider of educational courses, we do not have access to the personal trading accounts or brokerage statements of our customers.

Available research data suggests that most day traders are NOT profitable.

In a research paper published in 2020 titled “Do Day Traders Rationally Learn About Their Ability?”, professors from the University of California studied 3.7 billion trades from the Taiwan Stock Exchange between 1992-2006 and found that only 9.81% of day trading volume was generated by predictably profitable traders and that these predictably profitable traders constitute less than 3% of all day traders on an average day.

In a 2005 article published in the Journal of Applied Finance titled “The Profitability of Active Stock Traders” professors at the University of Oxford and the University College Dublin found that out of 1,146 brokerage accounts day trading the U.S. markets between March 8, 2000 and June 13, 2000, only 50% were profitable with an average net profit of $16,619.

In a 2003 article published in the Financial Analysts Journal titled “The Profitability of Day Traders”, professors at the University of Texas found that out of 334 brokerage accounts day trading the U.S. markets between February 1998 and October 1999, only 35% were profitable and only 14% generated profits in excess of than $10,000.

The range of results in these three studies exemplify the challenge of determining a definitive success rate for day traders. At a minimum, these studies indicate at least 50% of aspiring day traders will not be profitable. This reiterates that consistently making money trading stocks is not easy. Day Trading is a high risk activity and can result in the loss of your entire investment. Any trade or investment is at your own risk.

Any and all information discussed is for educational and informational purposes only and should not be considered tax, legal or investment advice. A referral to a stock or commodity is not an indication to buy or sell that stock or commodity.

This does not represent our full Disclaimer. Please read our complete disclaimer.

Citations for Disclaimer

Barber, Brad & Lee, Yong-Ill & Liu, Yu-Jane & Odean, Terrance. (2020). Do Day Traders Rationally Learn About Their Ability?. SSRN Electronic Journal. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2535636

Garvey, Ryan and Murphy, Anthony, The Profitability of Active Stock Traders. Journal of Applied Finance , Vol. 15, No. 2, Fall/Winter 2005. Available at SSRN: https://ssrn.com/abstract=908615

Douglas J. Jordan & J. David Diltz (2003) The Profitability of Day Traders, Financial Analysts Journal, 59:6, 85-94, DOI: https://www.tandfonline.com/doi/abs/10.2469/faj.v59.n6.2578

Copyright © 2020 Warrior Trading™ All rights reserved.

Forex Trading Mentor – What to Look For and Why You Need One

If you look up “mentorship” on Wikipedia you will find the term defined as, “a developmental relationship in which a more experienced or more knowledgeable person helps a less experienced or less knowledgeable person—who can be referred to as a protégé, or apprentice — to develop in a specified capacity.”

The advantages of learning any skill or trade from a mentor are numerous. Some of these include; a drastically reduced learning curve, faster achievement of long-term goals in the given skill or trade, reduction in time spent doing trial and error, more personal time, greater emphasis on the more important aspects of the given skill or trade, the list of benefits that you reap from employing an experienced, credible and knowledgeable mentor in any field are almost limitless. That being said, not all mentors are legit, especially in the world of Forex trading, so when looking for a quality forex mentor we need to look for specific characteristics that make them credible.

The value of learning a skill from a mentor

There are a few different ways that we as human beings learn a new skill or acquire more knowledge; one of these is self-education, many people teach themselves how to play an instrument or how to cook. Usually things that people self-educate themselves in are intrinsically satisfying, meaning they provide a person with an internal sense of gratification and achievement. Our natural talents in certain skill sets prime us to self-educate ourselves in skills that are most gratifying to us. Another way human beings learn is through a systematic education, via a public or private school. This type of learning is acquired from taking instruction from someone that is certified to teach material on a specific subject. Once we complete enough course work in a variety of subjects we attain a diploma or college degree that symbolizes our mastery in a particular field of knowledge. However, a college degree is not always synonymous with a specific industry-related skill.

It is the acquisition of a specific skill set that makes an individual employable, whether its employment with a company or self-employment. Even if you do have a college degree most job-specific skills are acquired via on-the-job training from a person who has the experience to train you in the specific job you are learning. A person who takes you under their wing and trains you for a specific skill is considered a mentor. Generally a mentor will train someone based on their own experience in the field, this means that a mentor has already made all of the mistakes any beginner will make and has learned the tough lessons that accompany any worth-while endeavor.

Why you need a mentor to help you learn how to trade

In forex trading, more so than other fields, there are numerous mistakes that most beginners make, and they usually end up making many of the same mistakes over and over. So by getting taught the intricacies of Forex trading by someone who has already traveled down the rough and rocky road that all novice traders must take, you can essentially make your journey to forex trading success a great deal smoother than those that refuse to get mentored by a Forex professional. In Forex trading, almost all of the early mistakes you will make result in you losing money, this is a big difference from most other professions, which is why having a credible and experienced mentor in the world of Forex trading is so critical to your success as a trader.

Unless you are a total beginner to Forex trading and this is your first day reading about trading strategies then you no doubt have realized that there is a jungle of Forex and other trading related information available for you to digest. Some of it is quality information; the great majority of it is someone trying to make a quick buck preying off of less knowledgeable peoples’ hopes at making money in the markets. The amount of trading information and different trading courses for sale by people of questionable credentials can actually seem quite over whelming to someone that is relatively new to the world of Forex.

So, if we can agree that we definitely will greatly benefit from a mentor in Forex, then our next logical step would be to seek out a credible and experienced mentor, preferably someone who practices what they are preaching to you, offers on-going support, and is able to easily be contacted whether through email or phone. The bottom-line is that someone who is just out to make a quick buck and does not care about their own reputation or the morality of their actions will not have any of these previously mentioned characteristics. So let’s dive into what exactly you should expect from your Forex mentor.

What you should look for in a trading mentor

A cold hard fact of trading is that whether you are trading Forex, stocks, or commodities, trading is one of the most difficult endeavors to properly wrap your mind around. Many so called “market gurus” or “mentors” do not actually trade for themselves, they have long since given up on trading and decided instead to take the low road and sell something to people that they themselves do not believe in. If your Forex mentor is truly a trader him or herself, they will have no problem discussing specific trades with you via email, answering your questions about specific trading setups, or giving you their current view on a market.

The next big question we need to ask about our Forex mentor is do they practice what they preach? Do they trade the same exact way they are teaching people to trade? A mentor that provides their students with a trading discussion forum or daily market commentary where they give you regular market insights and updates, is definitely something any legit mentor should do. This shows that they are currently active in the market and connected to it with passion, any trader or mentor worth a grain of salt will provide this service or something similar. The bottom line here is that any credible and legitimate Forex mentor will be trading the same way they are teaching, if their strategy is truly effective and worth learning.

The next question we should ask ourselves is what kind of reputation does my Forex mentor have on the internet and amongst their current and previous students? Nial Fuller is as genuine a mentor and person you will find in the Forex community. Nial’s generosity and ability to educate are apparent via the vast library of free articles and videos he offers, even before or if you decide to purchase his in-depth price action trading course.

In closing

The importance of finding a credible and experienced Forex mentor can not really be emphasized enough. There is so much misleading information in the Forex world that it really can be a chore just to separate the genuine mentors from the charlatans trying to take your money and run. If your Forex mentor meets all of the criteria discussed in this article then they are most likely legit and will help you get on the road to consistent profits much faster than if you go it alone. At Learn To Trade The Market, we believe we fulfill these important requirements that are crucial to a trader’s learning experience and trading career in general. Don’t take our word for it.. read our Forex trading course student reviews here

Where to Find Ideas For an Online Store

Ideas are a dime a dozen. They can come from anywhere, at any time. The key is being able to decipher which ideas can make you money, which ones can make you a lot of money, and which ones will leave you a broke laughingstock of the entrepreneurial community.

Keep reading below as we discuss different ways to get your creative juices flowing and to generate viable ideas.

Identify Pain Points in Your Own Life

Train yourself to constantly and productively find happy solutions to everyday problems. If you can solve them reliably and gracefully enough, then you’re sitting on nothing less than a completely worthwhile business idea.

That exactly happened to Donna and Andrea, the founders of Flipzeesglasses, unique glasses for putting on makeup. They figured out what to sell online by creating a solution to their own everyday difficulty:

“We both are ladies of a certain age. And when you get to a certain age, you have to wear reading glasses… But if you like to wear makeup as well, when you’re trying to put your makeup on, you can’t see without your reading glasses. And then when you put your reading glasses on, you can’t put your makeup on, because the glasses are in the way. It is a problem because obviously, we don’t want to give up wearing makeup. So that’s how it (their product) came about really. The initial idea was we need to come up with something that actually works.”

Get yourself into the habit of not only noticing when things don’t go as well or smoothly as they ought to, but also immediately following this up with a potentially aggressively priced viable alternative.

A great example of this would be the reCAP mason jars. We all have mason jars lying around that simply serve no purpose because there is no convenient way to repurpose them (other than simply storing and canning). The reCAP allows you to repurpose them for almost anything, drinks, decorative dressing containers, the possibilities are almost endless. Someone successfully identified an issue and came up with a creative solution.

This is a great example of someone identifying an issue and coming up with a creative solution.

Look for Ideas from Those Who are Also Looking for Ideas

Follow the specialized media covering the space most relevant to what you sell.

This is where something like Product Hunt comes into play. Every day, Product Hunt publishes dozens of rising or debuting services and applications, with the readers voting for the best and most unique entrants.

Fitness trackers for dogs, new collaboration apps, an app that turns your iPhone into a hidden camera; the products and ideas coming from Product Hunt are nearly endless. It is well worth your time to bookmark Product Hunt and browse through it every day to see what other people are also dreaming up.

You should also look to the real world for inspiration. Magazines like Entrepreneur and Forbes consistently feature compelling products and ideas that may trigger something inspired for you.

Whether an elaborate description of a uniquely problem (such as having too much digital information on cancer research) or a profile of someone changing how we look at marketing and selling razor blades, the content of these sites and magazines is diverse. There’s a good chance something will help you in your journey.

Browse Crowdfunding Sites

Crowdfunding sites like Kickstarter and IndieGoGo are great places to go for inspiration. Crowdfunding is the definitive testing ground for modern entrepreneurs and startups that lack seed funding.

There are thousands of products to browse through on these sites; they range from amazing to truly terrible. All of them seeking the funding to become real. Study them, note what works. See what you would do to improve on an idea or its marketing.

Take notes and pay attention to campaigns that reached their goal and ones that didn’t. Try to derive what the successful ones did differently.

Use Social Networks Wisely

Products are easily found wherever people congregate, and people live in the social sphere nowadays. Obviously Facebook and Twitter are great ways to accumulate ideas and see what others are creating, but there are other sources that can tickle your brain even more deeply.

Even niche interests and tastes can probably find what they’re looking for on pinboard site Pinterest. Get an account and subscribe to themed boards that jam with your ideas. Interested in selling custom shoes? Follow a board like this that accumulates what others are doing with custom footwear.

Instagram is also a great place to connect with others and see what is hot. Subscribe to a couple of relevant hashtags to see what’s popular on the social medium. Consider ways to make photosharing unique to your can you do differently?

Follow hashtags like this one to get new product ideas

Check Out Public Events

Conferences and other public events are a great way to check in on the present state of given topics and interests. Whether hobbyist gatherings or prestigious professional events, such assemblies will be populated with people situated somewhere on the spectrum of interest in a topic.

By using simple Google searches, or apps like Eventbrite, you can rather easily find lists of such events in your area.

With a list of clubs to join and events to attend, you’re in a much greater position to intermingle with people that can help bring your ideas to life, and even get noticed in the process: investors, experts, and journalists in given spaces can be found at these events.

This is your chance to rub elbows with giants in your field. Take notes on who you meet and Google them later, and make sure to give your card to anyone you find interesting.

Conferences and trade shows are too easily dismissed as boring, stuffy affairs.

While this sometimes holds true, this neglects the wide variety of experts who share your interest that you have the opportunity to learn from.

These are your opportunities to learn from others what works and what doesn’t. Let your ideas intermingle with the ideas of others to make for all kinds of new ideas for everyone.

Inspire from Big Retailers

Amazon, eBay, AliExpress, Etsy — all these websites have a section with bestsellers. By browsing these products, you can find out the latest trends and сustomer needs. Don’t forget wholesale websites like Alibaba или Wholesale Central.

Amazon bestsellers by category

Study the Local Market

Sometimes a good idea is literally just around the corner. Examine local products and services and keep an eye on city mass media. There might be enough bakeries in your area, for example, but what about farm products?

Developing a vacant niche in the local market is a good alternative to being just another business in a competitive industry.

Here are just some benefits of selling locally:

  • Simplified delivery
  • Easy to collect feedback and improve service
  • More room for testing business strategies.

Check out more tips for selling locally:

Ideas are Everywhere

Setting up your online shop is usually the easy part. Gathering ideas, planning your marketing, and generally settling on an idea to sell is the hard part.

Most likely, you’re not going to get as lucky as Sir Isaac Newton and have the idea simply hit you in the head. Good ideas come from a plethora of places, not just from within your mind. Keep your finger on the pulse of industry by using some of these tips listed above.

When your mind is in the practice of generating finely tuned ideas, your Internet storefront is poised to thrive.

Subscribe to the Ecwid blog to get fresh ideas for growing your business weekly.

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