Tradespoon is a very interesting platform that helps you analyze and make very good trade decisions. Tradespoon is one platform that you can compare to other well-performing platforms that offer trading options. In this article, you will get all you need to know about Tradespoon, and this will help you make informed decisions on investing with it.
A Brief About Tradespoon
Tradespoon is a platform that helps you eliminate guessing from your trade analysis. It is built to run as an artificial intelligence machine, that helps individuals to find trades.
The was created by Vlad Karpel, and it has been in existence for 15 years too. It can also be used by traders of any level.
About Vlad Karpel
The CEO and creator of Tradespoon, Vlad Karpel, also served as Executive Vice President and Head of Technology at OptionsXpress.
He has now had more than 15 years of experience in this industry and wants to make it available to users so that traders of all levels can make educated decisions and wiser and more prosperous trades.
He guarantees that users at Tradespoon will always receive support and believes in the benefits of effective training techniques. He is also prepared to respond to any queries; however, the ultimate goal is for the users to be successful independently.
Who needs Tradespoon?
All levels of traders can benefit from Tradespoon’s services. Especially trading Vault, a free portion with access to its large video training collection, case studies, and weekly live webinars, is available to new traders.
The firm offers three paid subscriptions for $58, $83, and $125 a month for more experienced traders who are looking for daily stock and options picks and other items.
Also Read: Tradovate: The Gateway To Dollar Printing On Futures Trade
These compensated services offer traders several tool packages for trading, and they can also be billed annually.
Furthermore, for traders seeking individualized coaching, Tradespoon would be a good resource to opt for.
Advantages and disadvantages of Tradespoon
The advantage and disadvantages or pros and cons of this intelligence platform are listed below:
- Each level of trader can benefit from educational tools.
- The platform searches the whole market for the best stock and option deals.
- Individual coaching and mentorship for traders.
- Special discounts, including lifelong memberships.
- It has so many options for you to choose from.
What services does Tradespoon offer?
Tradespoon doesn’t actually offer trading services, but it does, however, offer a solitary web-based platform with a variety of analysis tools.
They may be used to forecast price changes for many different types of assets, such as stocks, ETFs, foreign exchange, and bitcoin.
Among the notable tools are:
- Seasonal graphs
- Calculator for probabilities.
- Equity, option, and futures predictions on a weekly and daily basis.
- Educational webinars and videos.
- A published updated list of liquid stocks.
- Tools for portfolio analysis.
- Sessions in a live trading room.
- Weekly market analysis.
Tradespoon’s trade intelligence platform
The Trade intelligence platform encompasses all the tools that the intelligence platform offers, and they are:
1. Seasonal charts
Seasonal charts are one way that Tradespoon differs from many other free platforms available.
These display price developments average over particular time spans. These graphs display resistance lines along with predictions and percentage probabilities.
This charting program’s ability to provide rapid price projections with success probabilities is something you would love.
However, the yearly and daily timeframe is the only available timeframe (you can zoom in, though). Furthermore, you cannot select the technical indicators (MACD and Fisher Transform).
2. Tradespoon bulls and bears
Every week, Tradespoon puts out a list of the stocks on which it is most bullish and bearish. The company’s algorithms create this list after comparing these stocks to the S&P 500.
The program’s main time frame is between 40 and 70 days. The 10-day timeframe is also used for short-term analysis. The algorithm concludes by producing a long-term rating, which is valid for up to 5 years.
Backtesting is another feature of the application. Human investment experts verify the digital ranks as the last check.
In addition, with this tool, you would not have to bother about trades when you are away. And with the backtesting which is peculiar to Tradespoon, you are sure to get your money’s worth.
3. Probability Calculator
This tool allows you to assess the probability that equity will trade at a particular price. The probability calculator will assess whether a stock will trade above or below a particular level.
Additionally, it can provide a comparison of two price targets.
Tradespoon employs a time frame of 20 to 50 days. For every standard deviation, price targets are displayed.
The following highlights are usually included in the results display:
- Rating of buy or sell on a scale of 1 to 10.
- Trend, which demonstrates how correct earlier forecasts were.
- Levels of resistance and support.
4. Active trader tool
This is another tool that Tradespoon provides that you would love. It involves a live session with actual trades and is among the greatest ways to learn how to day trade.
Tradespoon provides only that. During market hours, simply select the Quick Navigation menu at the top of the Tradespoon website to access the live trading room.
Next, choose the live trading room. You may always access your saved previous sessions and watch these on-demand teachings.
5. Stock forecast toolbox
This is another useful tool that Tradespoon offers. The stock forecast toolbox is a fantastic resource for the performance analysis of certain stocks. The numbers that Tradespoon’s algorithm provides are numerous.
And the tools are:
- Grade model
A weekly update is always made to this tool. It demonstrates the precision with which the company’s software can forecast high and low pricing. The letter grades range from A to C, with A representing the best mark.
- Current Trend:
This demonstrates a stock’s momentum for the current trading day. The security is compared to the prior trading day.
- Variety Trend. This statistic averages the vector values from the current trend to determine if the stock is generally more bearish, bullish, or neutral.
- Probability Variation. This rating demonstrates how well Tradespoon’s algorithms predict the vector values.
- Forecast Low/High. This provides a range of what the algorithm is forecasting, as the label says.
- Probability High/Low. This graph displays the probability that a stock will close in the middle of the expected high and low values.
- 10 days from now. This table shows the expected OHLC prices together with momentum levels for the upcoming 10 days. They are also displayed on a chart that includes trailing prices.
- Other Resources. The same tools are available on tabs for futures, FX, and bitcoin. Price forecasts, for instance, are available for the following ten days.
6. Company Screener
Tradespoon also helps you with finding a trade idea, the company screener is a good place to start. It has the following predefined screens:
- Vector screener
- Stocks and ETFs with Model Grade A or B
- Short Term Forecast
- Company Finder
7. Active Trader
For each trading day, you can find stock picks using the Active Trader tool. There are usually bulls and bears among the picks.
To activate this tool, you simply click the Tutorial tab if you lose track of how to utilize the tool. A pop-up video that explains it will appear as a result of doing this.
Each stock is the subject of two different trading methods, each with its own entry, take-profit, and stop-loss points.
Tradespoon suggests Strategy A if S&P 500 futures are down more than 0.5% from the closing of the previous day.
Also read: Top 20 World’s Richest Forex Traders
While it recommends Strategy B if S&P 500 is not down by more than that amount.
In addition to the techniques, Tradespoon offers a graph from TradingView for each stock. On TradingView’s website, clicking the graph opens a new tab that allows for full-screen charting.
On TradingView’s website, clicking the graph opens a new tab that allows for full-screen charting. There are several graphing tools available.
8. Customer Support
Another interesting part about Tradespoon is that it offers four basic customer service options on its customer service page to support its product.
The various methods by which you can reach out to customer support are:
1. A chatbot tool is the first one. It is an artificial intelligence that is designed to provide answers.
2. The second choice is to submit a support ticket, which enables you to speak with the business directly.
3. A collection of frequently asked questions (FAQs) that provides many of the answers that new clients will need is a third choice.
4. An online consultation tool is the fourth and final option. With this, a meeting to speak with a Tradespoon representative can be arranged. Scheduled appointments are available during the workweek.
Now that you have seen all you need to know about Tradespoon, it would be interesting for you to see the price.
Although Tradespoon’s monthly subscription options are a bit pricy, it does provide substantial savings for yearly purchases. Stock Forecast, Tools, and Premium are the three offered plans.
The price of the Stock Forecast is $127 per month ($697 per year, or $58 per month). The bundle includes the profit calculator, live strategy roundtable, portfolio manager, and stock screener from Tradespoon.
Everything included in the Stock Forecast plan is also included in the Tools plan, plus the following upgrades:
- Temporal graphs
- Calculator for probabilities
- NASDAQ Focus List
- Forecasting software for forex and futures
- Tools for Portfolios
For the Tools plan, Tradespoon charges $147 per month. An annual subscription is $997, saving you around $64 every month.
The Premium package is the most expensive option. It costs $197 monthly or $1,497 annually.
In addition to what the Tools plan covers, it has these nice features:
- Unique stock and option suggestions
- Superior text messages
- Actual trading room
- Evening videos from RoboInvestor
It offers to provide a risk-free trial before you sign up for any plan.
Other packages offered by Tradespoon
With a month-to-month subscription, Tradespoon offers four distinct membership packages for you to pick from.
- Basic Subscription for Novices (Free Forever): Take advantage of unlimited, free access to all instructional videos, live webinars, and case studies.
- Full access to the Tradespoon Stock Forecast Toolbox is included with a stock forecast subscription of $127. Boost both your short- and long-term investment strategies.
- A monthly premium package costing $ 197: full access to all of Tradespoon’s features. Additionally, professional stock and options pick with entry and exit points, alerts, and updates sent through SMS or email.
- Tools Bundle for $ 147 a Month: For investors who want to use Tradespoon Stock Forecast
Tradespoon offers to refund the monthly fee you paid when you signed up for a membership.
If during the first 30 days of your membership you are not entirely happy, they will refund your money.
And there you have it, you have seen all Tradespoon has to offer you, and more details. Day traders can use the good analysis tools that Tradespoon gives to get quick price predictions.
However, the company’s costs are obscenely high, especially if you choose a monthly plan. Additionally, the service’s worth is debatable because only the most expensive plan has the most sophisticated capabilities.
Frequently asked questions
Is Tradespoon worth it?
Yes, Tradespoon is worth it. Anything that helps you to make money easily is worth investing in. The only disadvantage of Tradespoon is that the best plan is very expensive.
What are the benefits of Tradespoon?
The benefits of Tradespoon are that it provides educational tools, mentoring, and a platform screener.
Who is CEO of Trade spoon
Vlad Karpel is the CEO and founder of Tradespoon. He was also the chief executive of OptionsXpress.