How Legitimate is the Trade Ideas Stock Screener ?
We've been aware of Trade Ideas for some time. In fact, we have a comparison page verses them to highlight our differences. But, it wasn't always that way. We started out wanting mobile visibility and alerts to breakouts and nothing in the app store really offered that in 2014. We are still the only HOD/LOD scanner that streams this data in the app stores today. Shortly there after we uncovered Trade Ideas. It was (and still is) heavily desktop based - we were focused on apps. We've since embraced responsive web tech that works ona both desktop and mobile simulataneously to improve our development capabilities.
However - recently we've been seeing a lot of Trade Ideas push in the affiliate partner marketing. Admittedly we've been looking for ways to get the word out and in doing so have seen what is known as a "content flywheel" in place to funnel traffic to Trade Ideas. Sure this post may come across as sour grapes, but if you know me, you know I have my moral boundaries and I will expose those things which cross them.
We believe MOMO stands on its own solid footing for extreme value, performance and capabilities regardless - but if you are sincerely wanting to make an educated decision about a stock scanner / stock screener platform - we think you should have the full understanding of what is taking place.
The 3 points of contention are:
- Their "AI" is far from "artificial intelligence". Text to speech and pattern matching capabilities do not make for any sort of artificial intelligence. Nowhere in their content or documentation do they describe their AI or capabilities. It's marketing hype - personified - litteraly with "Holly". Below is what they say about it. (Also inside secret - these "5000 fastest growing-type awards" are usually paid for marketing plans - we have them regulalry - even Benzinga Awards are paid for "awards". Where is the percent gain. Which independent accounting firm validated this amazing achievement?)
Q. What can you tell us about your virtual artificial intelligence analyst, HOLLY? And how does it help save novices and veterans hours of research and testing?
In the most simple way, our AI is like a card counter in Vegas Playing BlackJack. The processing power that is needed to monitor everything at once and keep detailed statistics on it is something that is simply not possible through personal computers. For the same reasons that mining cryptocurrency requires very special computing power and a server farm. We do the statistical heavy lifting and give our subscribers the feed of when odds are lining up. Then we also provide a complete risk management assessment of what is a good way to handle the risk once you are in the trade. That is what separates Holly and Trade Ideas from other vendors. We are the only technology on the market that is teaching you how to put your money to work and manage the results. It’s like having a virtual Ph.D. working next to you while you invest. Nothing in the market even comes close to our AI and it is a one-of-a-kind server-side technology. (source: https://thesiliconreview.com/magazine/profile/trade-ideas-stands-for-fair-market-access/)
No where on the site do they say anything about the common AI/ML models or anything. LTSM Model? CNN Model? Backtested Accuracy -no telling - just "trust us where we tell you to put your money".
2. Review Sites" Owned or heavily compensated by Trade Ideas to promote Trade Ideas to unsuspecting customers. The internet if full of gullible and unsuspecting people. Fake reviews take many forms. Amazon has recently been exposed for enabling fake reviews and has taken steps to shut them down - or so they say. Software services don't have the same platform to get these reviews and businesses often take the unethical and shady route of turning up their own site or one which is heavily incentivized to create a web site promoting the services "amazing" virtues as authentic.
In order to pull this review off as authentic the review site needs to compare other products. This is done in a pseudo-autthentic manner in a way similar to a carvinal game - but where the house always comes out on top - in this case Trade Ideas. After doing some searching I uncovered that Daytradingz.com is owned by Alexander Voigt. He's a blogger who has a site that is 90% partial to Trade Ideas. All the affiliate links and everything else is Trade Ideas. Granted his disclaimer says "While we are independent, we may be compensated for advertisements, sponsored products, or when you click on a link on our website." But the point is for the unsuspecting user to overlook this on their decision making process.
Anyway - if you peel back the onion on the internet a bit you can see that Alex has been a subscriber, guest blogger, and "fan" of Trade Ideas since 2009. That is 12 years of reviews and Trade Ideas fandom!
None of this outright illegal, just highly immoral and suspect. Given Trade Ideas pays 50% of their subscription fees to these review sites and influencers it makes sense why their pricing is so high.
I have captured screenshots in the instance that these pages "get disappeared".
3. Marketing Gibberish and Double Speak. Marketing is hard - idea is that you communicate your value propositions and differentiators in a way which resonates with your tarket market. Trade Ideas seems to try and distort and conflate terms (and charts) to suggest differentiating capabilities.
Take the following statements below.. "Strength alerts beat SPY Handily". This along with a chart showing market performance of what amounts to relative strength of the market vs. the SPY.
- Chart suggests you will exceed the performance of SPY 200% or more. They state "compounded" returns. This is not a function of their technology, but anything compounded will drive higher returns than an index.
- Additionally they state this is based on sum of top strength plays. Not a problem on paper, but Trade Ideas is providing the trade recommendations on Monday based on the prior's week "strength".
I agree - this is bellyaching - but at same time we think there is opportunity to do the trading community a real service and provide a source of truth without relying on these tactics.
We welcome opportunity to compare MOMO Pro to Trade Ideas with truly independent traders.
Team @ Mometic // Profit from Momentum with MOMO Pro