Trade Ideas

For anyone with the means to use it, I highly recommend using Trade Ideas as another tool in the kit for trading Muddy/13th style. Anyone who trades this way knows the importance of the Scottrade hod list and I find Trade Ideas to be the perfect supplement. Although Scottrade ended up being horrible for shorting the kind of stocks that the greenonthescreen chatroom likes to play, moving enough money over there to activate Scottrade Elite ($25,000 min) ended up being a good thing anyway- namely for Trade Ideas.

I've spent a fair amount of time trying to tweak the threshold parameters and I've finally settled on turning them all off. This gives me lower quality feeds but ultimately allows me to decide for myself the value of the information. Now it works just like the hod/lod list as an alert for my backfiltered combo stock list. As you can see from this picture the alerts happen simultaneously with the hod (see VSE come across on both).  However Trade Ideas produces several advantages. The first is simply that the list is rolling and can be scrolled back upon, unlike the hod list. If you miss a stock during the 2 seconds it is on the hod list you will not know until it comes up again. Trade Ideas also indicates the number of times it has alerted you on this stock so you will know how far into the momentum the trade is.

The second advantage, which I think is huge, is that the Trade Ideas alert gives the relative volume of the trading. On Wednesday HDLM came up as an alert with huge volume... I called at 10:40 only to find out that the awesome gboz had called it all the way back at 10:14! Nice heads gboz! Here is what the alert looked like and what made me pay attention:

HDLM ended up closing at 2.42 and moving even higher the next day.  

Get Trade Ideas if you can manage.