No matter your level of trading experience, pretty much everyone could use some help. That’s where Trade Ideas comes in, as they offer in-depth market analysis and advanced analytics for experts and beginners alike.
After a quick overview, this article will focus on one feature in particular, Trade Ideas’ Live Trading Room. So, if you want to learn more about Trade Ideas’ overall offerings, check out our review right here.
Trade Ideas
Trade Ideas is a high-quality stock scanning tool developed in 2003 by a group of FinTech entrepreneurs. It uses both traditional scanning methods as well as artificial intelligence to provide the insights traders need—when they need them. Their AI software is nicknamed Holly and is one of the best in the business (though there are always risks to following trading recommendations, whether AI or not).
You might not know from its name alone, but Trade Ideas’ major strength is its stock scanner. It delivers real-time data from the market, including stocks and ETFs from all major stock exchanges.
While it’s probably best for more advanced and experienced traders, Trade Ideas offers plenty to help with learning. They have a simulated trading feature, the “TI University” (an instructional video library), as well as pre-defined channels, which make it easier to start trading different investment niches.
One of these features with an educational aspect is Trade Ideas’ Live Trading Room (or Chat Room), which is actually free. We’ll cover it more in-depth below!
Learn More About Trade Ideas
What’s a Live Trading Room?
First, let’s cover what exactly a live trading room or live chat room is for people who might be unfamiliar with the concept.
Live Trading Rooms
While it depends on the trading software site hosting it, a live trading room tends to work around the same basic principle. They aim to provide members with direct, live-streamed access to their own traders. This means you’ll get to see expert traders trading with their own money. Plus, you can chat with other members and share your trading ideas.
Live trading chat rooms create a strong sense of community and allow you to dialogue with expert traders and other members like yourself.
Trade Ideas’ Live Trading Room
Now, let’s take a look at everything that Trade Ideas’ Live Trading Room has to offer!
Overview
The Trade Ideas Trading Room (or Chat Room) is open to all users, whether or not they have a subscription. You can count on it being open just about every weekday (i.e. trading day), from 9 am to 3 pm EST.
Community
Trading Ideas’ Live Trading Room has a strong sense of community, and you can count on at least 400-500 active users on a daily basis. All kinds of different traders come to share their trading ideas, which can give you some fresh ideas to work with.
Expert Moderation
There are a lot of trading rooms out there, and some of them are chaotic messes that are definitely not worth your time. Fortunately, Trade Ideas’s own Barrie Einarson serves as their Trading Room moderator, and he does a fantastic job. In fact, it was Barrie himself who came up with the idea ten years ago that they should have a Trading Room. Since then, it’s come a long way from a simple, text-based forum.
Screen Sharing
Trading Ideas has kept its trading room up to date, so it’s moved far beyond its humble, text-based origins. Now you’ll get to see moderator Barrie Einarson’s screen as he trades, enabling you to learn quickly and effectively.
Pricing
It’s hard to beat free, and that’s exactly what you get with Trade Ideas’ Live Trading Room. Some trading software companies will charge an arm and a leg for trading room access, so this is a huge plus. It means that no matter your means or experience level, you can jump right in, exchange trading ideas, and, above all, learn a whole lot.
Is Trade Ideas’ Live Trading Room Right for You?
Well, it depends! As mentioned above, Trade Ideas’ Live Trading Room is open to any registered user, regardless of membership. In other words, it’s free. This means it’s a really great opportunity for all different traders, regardless of income level or experience.
On the other hand, the openness of the trading room can work against it. How’s that? Well, it’s not exactly exclusive, meaning that any given person online can come into the chat room and start pumping any given stock. If you do participate in the Live Trading Room, you should be mindful that not all users are created equal, and take all recommendations with a grain of salt.
That said, Trade Ideas’ Live Trading Room is a great feature of a really solid software trading service. Since you can check it out for free, there’s really nothing to lose!
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