Posted by: Wesley Nolan on January 6, 2020 Under: Millionaire Stock Traders |
What is StocksToTrade? Read my StocksToTrade review to find out!
This stock trading software does a lot of the work for you when it comes to building watch lists and charting. You get a lot for your money and it seems to have a great reputation.
I want to give you a few more details in my StocksToTrade review and my opinion on the software. This StocksToTrade review is in no way sponsored by the company and I am not compensated in anyway.
Disclaimer: There are affiliate links on this page. This means that if you click through and purchase anything, I could possibly make a commission without adding any extra cost to you.
Come and join my Facebook group (How To Make Money With Stock Alerts Services) if you want!
I think you’d fit in nicely (if you aren’t in it already!) we talk about a lot of stock alerts services. It’s an open and transparent environment where you can learn what is working and what isn’t!
About Timothy Sykes (Founder of StocksToTrade)
Timothy Sykes is the inventor of the software. Tim is a famous trader that is known for turning $15,000 into Millions in a few short years at an early age.
He started the well-known stock alerts and educational platform called Profitly. You can read my full review of his Tim Alerts service here.
What Do You Get With StocksToTrade?
One of the best features of StocksToTrade is called The Oracle. Sounds like some kind of god tool or something! Basically, Oracle is an algorithm that the program uses to find stocks that are most likely to move up in price in the short-term.
Oracle builds your watch list for you! One click and you have a list of stocks that could be play. Oracle then monitors the market open and uses real-time data to predict entry prices, exit prices and levels of support/resistance.
It suggests short entries or long entries. You can then verify manually what you think of the stock and take action based on that. It uses many indicators (e.g. Fibonacci levels) to calculate everything for you.
You get a ton of information as the day goes on. Things like how many times the stock has hit support/resistance throughout the day. Oracle gives you volume etc. all updated in real-time.
Pretty powerful! Check out the video below for a full tour of the Oracle. I think that Oracle is the main feature that you are paying for with this software.
I wouldn’t buy StocksToTrade just for the charting software. It has all the key features that you would expect from a charting program, but it doesn’t seem to be exceptional in anyway.
It looks like you can get all the same charting tools for free at websites like Stockcharts.com etc. You can plot your charts with candlesticks, line or bar charts. All time frames are easy to setup and all the usual indicators like volume, moving averages, BB’s, MACD etc. are all easily added to the charts.
Twitter Finance Hashtag Tracking
This is one of my favorite features of the StocksToTrade program. The program has a Twitter feed that streams alongside your other tools. It tracks anything that you set the filter to do!
SO, if you just want to see news related to a sector your look at or just want to see other traders commentary – you can!
Social media is like a collective intelligence of traders! Stock prices are manipulated on Twitter everyday, so it is well worth tracking the sentiment.
I always recommend that people paper trade when they are starting a new strategy. StocksToTrade has this feature so that you can get some practice without risking any real money.
There is nothing amazing about the paper trading feature as far as I can see. Many free platforms have this feature (e.g. Webull).
Here is a brief overview of how to use the StocksToTrade paper trading feature.
Stock Scanning Feature
Timothy Sykes scanner is extremely valuable! This is another fantastic time-saving function that lets you sit back and have a program do some of the work for you.
Level 2 Data
Again, I am not sure how much value there is in the level 2 data. Why? Because most brokerage platforms offer it! Maybe it is just nice to have everything in the same software….
The StocksToTrade cost is about $180 per month. You can try it out for $7 to see if you find the tools useful or not. You can also participate in the StocksToTrade Pro program that includes a chatroom and some educational material.
To be honest, the StocksToTrade cost is a little high for beginners in my opinion. It is totally affordable and a justifiable cost for more advanced traders though!
Here is an overview of my thoughts regarding the software:
The Things I Like
- My favorite part of the software is the scanning for potential stocks
- I love that you can access the program from any computer because it is cloud based
- It is an all in one platform with many features
- Very useful for day traders as everything is updated in real-time
- The scanning features are highly customizable and quite powerful
- Paper trading feature that is good for beginners
Things I Don’t Like
- The cost is a bit hard to justify for new traders
- There is no actual way to buy/sell shares – this is not a broker platform
StocksToTrade Review: Conclusions
I hope that this StocksToTrade review was helpful. I know that by writing it, my interest in this software has increased. I think that this is a good program as long as you don’t think that it is some kind of trading bot that will make you millions.
This is a tool to use that will save you a lot of time when building a watch list and screening stocks. I love the idea and I think that if you are an intermediate trader, you would find this tool useful.
Stefanie Kammerman AKA The Stock Whisperer
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I hope that my StocksToTrade review has been helpful. The StocksToTrade cost is reasonable for all the features that you get!
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