In today’s fast-paced trading market, it’s crucial to have a platform that can help you stay on top of things, whether you’re a seasoned trader or just starting out. That’s where TradeSmith’s Tradestops software comes in. It’s designed to alert you to significant events that require your attention, using optimization methods to monitor stocks.
Now, you might be skeptical and wonder if Tradesmith is just another one of those scams promising to help you strike it rich with their program or recommended tools. To help you make a more informed decision, I’ve taken the time to thoroughly research Tradesmith and provide you with all the information you need.
First and foremost, let me make it clear that I am not affiliated with Tradesmith in any way. That means I’m not being paid to write this review. You can trust that you’ll be getting an honest and unbiased assessment from me.
But before we dive into the details of Tradesmith, let me also share with you the best alternative I’ve discovered for making a full-time passive income online. Stay tuned until the end of this review for that exciting revelation.
So, let’s get started and explore what Tradesmith has to offer and whether it’s the right fit for you.
Table of Contents
- What is Tradesmith?
- Who is The Founder of TradeSmith?
- An Overview Of TradeStops And Ideas From TradeSmith
- TradeStops Features
- Ideas Features
- Integrating TradeStops And Ideas
- Customization, Layout, And Compatible Brokerages
- Who is TradeStops For?
- Praises For Tradesmith
- Criticisms For Tradesmith
- Is TradeSmith A Scam?
- Final Verdict
- Best Alternative to Tradesmith For Making Money Online
What is Tradesmith?
TradeSmith, a Maryland-based firm founded in 2011 with its headquarters in Baltimore, has been revolutionizing the investment landscape with its range of innovative products and services. With a casual and investor-friendly approach, TradeSmith aims to help individuals grow their wealth, refine their investment strategies, and seize lucrative market opportunities. Let’s take a closer look at the various offerings from TradeSmith:
- Ideas by TradeSmith: This product provides valuable insights and analysis of the stock market, assisting investors in making informed decisions and identifying potential investment opportunities.
- Trade360: Designed for risk management, Trade360 equips investors with the tools to gauge and monitor their risk exposure across their portfolios. It offers comprehensive risk assessment and empowers users to make calculated investment choices.
- Crypto by TradeSmith: Recognizing the growing popularity of cryptocurrencies, TradeSmith offers specialized resources and analysis for the cryptocurrency market. Investors can gain valuable insights into digital assets and navigate the evolving crypto landscape.
- TradeSmith Decoder: This unique tool decodes complex financial data and presents it in a simplified manner, making it easier for investors to understand and interpret market trends. TradeSmith Decoder helps users uncover hidden investment opportunities through its intuitive analysis.
- TradeSmith CoPilot: Serving as a guiding partner, TradeSmith CoPilot offers personalized investment strategies tailored to individual preferences and risk tolerance. It assists investors in implementing their chosen strategies and provides ongoing support throughout their investment journey.
Each of these TradeSmith products offers distinct features and focuses on different aspects of the investment industry. Their pricing varies accordingly to accommodate the diverse needs of investors.
TradeSmith has garnered positive feedback from many satisfied customers, with numerous commendations circulating online. Investors appreciate the valuable resources, research, and analysis provided by TradeSmith, which empower them to make informed investment decisions.
Learn more: Legit Ways To Make Money Online
Who is The Founder of TradeSmith?
Richard Smith, a visionary in the realm of investing, stands tall as the founder of TradeSmith. With a creative blend of financial expertise, technological innovation, and a deep understanding of behavioral finance, Smith has revolutionized the way people perceive and approach investment strategies. While he may have relinquished ownership of TradeSmith, his unwavering passion for empowering individuals to take control of their finances remains as strong as ever.
In an unprecedented move, Smith sold TradeSmith to an undisclosed financial publisher for a remarkable sum, paving the way for a new chapter in the company’s evolution. By doing so, he sought not to retire or rest on his laurels, but rather to embark on a fresh journey of boundless possibilities. Smith’s aspiration to achieve even greater heights in the realm of financial empowerment remains the driving force behind his decision.
TradeSmith, under Smith’s guidance, experienced a remarkable expansion, attracting over 30,000 investors who collectively managed a staggering $20 billion in investments. This extraordinary growth serves as a testament to Smith’s unique approach and unwavering dedication to providing invaluable insights and tools to investors worldwide.
Driven by his burning desire to level the playing field, Smith harnesses his extensive investment experience to bridge the gap between knowledge and success. Armed with cutting-edge technology and a deep understanding of human behavior, he is on a mission to demystify investing and help individuals accumulate wealth with confidence.
Smith’s creative vision has disrupted the traditional investment landscape, offering a fresh perspective that empowers individuals to navigate the complexities of the financial world. Through TradeSmith, he has opened doors for aspiring investors, equipping them with the necessary tools and knowledge to make informed decisions and secure their financial future.
As Richard Smith forges ahead on his quest to empower individuals and democratize investing, his pioneering spirit continues to inspire others in the financial realm. With his unwavering commitment to helping people regain control of their financial destiny, he epitomizes the essence of a true visionary.
An Overview Of TradeStops And Ideas From TradeSmith
TradeStops and Ideas from TradeSmith offer strategies that cater to active investors seeking greater control over their stock holdings. Developed by Dr. Richard Smith, a highly knowledgeable academician and entrepreneur, these services provide a comprehensive solution to help you make well-informed investment decisions. It’s time to explore the possibilities they offer and take charge of your investments.
One important factor to consider when assessing stock market risk and portfolio diversification is past market volatility. This is where TradeStops comes into play. TradeStops, a web-based service, provides you with the necessary tools to efficiently manage your stock portfolio and strike the right balance between risk and return. Although it can only be accessed through a web browser and not on smartphones or computers, the platform is suitable for medium- and long-term investors as well as novice traders.
TradeStops enables you to monitor a wide range of investment options, including stocks, mutual funds, indices, penny stocks, over-the-counter stocks, certain exchange-traded funds, and options traded in the United States. It even covers shares traded on stock exchanges in London, Germany, Australia, and Canada. With TradeStops, you’ll have a comprehensive view of your investments across various markets.
One standout feature of TradeStops is its powerful and user-friendly alerting system. You’ll receive notifications whenever there are modifications to specific settings in your account. What sets TradeStops apart, though, is the valuable insights it provides. The platform automatically adjusts the trailing stop percentage based on market volatility, thanks to its proprietary algorithm and the Volatility Quotient (VQ) alert. You’ll also have access to a range of other alerts, such as option alerts, price targets, entry signals, and gain/loss alerts. Additionally, TradeStops offers a variety of charting options to enhance your analysis.
It’s worth noting that TradeStops has a proven track record. Throughout its history, it has empowered more than 50,000 investors to keep track of over $20 billion in portfolio value. This speaks to the trust and confidence investors have in the platform.
If you’re ready to take control of your stock holdings and make informed investment decisions, TradeStops and Ideas from TradeSmith are excellent tools to consider. With their user-friendly interfaces and comprehensive features, you’ll have everything you need to navigate the stock market and find the right balance between risk and return.
Volatility Quotient And Stock State Indicator
Managing the risk of your portfolio is crucial, and TradeStops has got you covered with two essential tools: the Volatility Quotient (VQ) and the Stock State Indicator (SSI). The VQ assigns a percentage value to a stock’s volatility, helping you decide where to set your trailing stop loss order relative to the current price. It also determines the maximum potential loss when using trailing stops. The SSI, on the other hand, displays a green, yellow, or red bar to indicate if a stock has triggered an entry or exit signal.
Position Size Calculator
To determine how much to invest in each stock, TradeStops combines your risk tolerance, VQ, and trailing stop calculations with the Position Size Calculator. It’s important to gauge your comfort level with risk before using this tool. The calculator provides you with the maximum investment amount and the first stop loss value, giving you a clear idea of how to proceed.
Asset Allocation And PVQ Analyzer
TradeStops has expanded its portfolio analysis options by introducing an asset allocation tool. With this feature, you can easily see how your money is distributed across different industries and markets.
Additionally, the PVQ Analyzer assesses holdings based on their risk level (VQ) rather than industry classification. This tool is invaluable for quickly evaluating the safety of your investments, especially if you have multiple portfolios with varying risk levels.
Reduce overall risk by spreading your VQ across multiple assets using TradeStops’ risk rebalancer. This tool allows you to adjust the fraction of liquid assets in your portfolio, helping you achieve a lower overall VQ. By rebalancing your risk, you can safeguard your investments while potentially enhancing your returns.
Stay on top of your portfolio activity with TradeStops’ customizable alerts. Whether you want to be notified when the VQ reaches a specific level, changes by a certain percentage, or when the SSI of a particular stock fluctuates, TradeStops has got you covered. You can also set up price-based notifications for trailing stops, ensuring you never miss a crucial market move.
TradeStops offers these powerful features to help you effectively manage your portfolio. With their user-friendly explanations and customizable options, you can make informed decisions and stay ahead in the market.
Stay on top of the financial game with Ideas, your go-to source for fresh financial news and analysis. Whether you’re a day trader or a long-term investor, Ideas provides you with valuable insights. By utilizing volatility ratios and calculated entry and exit points, this platform categorizes the market into major indices, indicating the percentage of stocks that fall under high risk (red), medium risk (yellow), or low risk (green) categories.
Tracking market trends and fluctuations becomes a breeze as you observe the highs and lows of these indices over the past year, witnessing how risk levels have evolved over time. To further enhance your trading strategies, the Stock Finder tool allows you to explore which stocks belong to specific risk categories.
Beyond the major indexes, Ideas delves into market sectors and commodities to offer you a comprehensive understanding of stock risk. By examining the risk profiles within specific sectors and commodities, you can make more informed investment decisions tailored to your preferences and risk appetite.
The Portfolio Ideas section of Ideas is designed to guide you through various investment paths based on your desired outcomes and risk tolerance. It classifies companies into distinct categories, taking into account their Value Quotient (VQ) and Security Selection Index (SSI). Additionally, Zacks employs their in-house analytics and calculations to provide their own stock picks.
The investment paths are fairly straightforward, including options such as “Growth,” “Value,” and “Low-Risk Runners.” However, you might be wondering about the unique categories like “Best of the Billionaires” and “Kinetic VQ.” In the portfolio display, stocks fitting these diverse categories are highlighted for your consideration.
Empowering traders with the Value Investing Quotient (VQ), Security Selection Index (SSI), and Dr. Smith’s Lab criteria, the Stock Finder tool acts as a powerful stock screener. While it may not feature advanced technical and fundamental filters, it enables you to identify potential trade ideas based on the VQ and risk indicators.
To fully leverage the Stock Finder, traders must devote themselves to thoroughly analyzing the available data to uncover promising opportunities. By utilizing the VQ and risk factors, you can make more informed decisions aligned with your trading goals.
Remember, Ideas is your comprehensive toolkit for market analysis and investment insights. Explore its features, track market risk, and discover opportunities that align with your trading strategies.
Integrating TradeStops And Ideas
Investing wisely involves a combination of knowledge and tools, and when it comes to trading, integrating two powerful platforms can take your portfolio management to the next level. Ideas and TradeStops, although available separately, are best utilized in tandem, allowing users to seamlessly connect their accounts and enjoy a comprehensive trading experience.
By utilizing the integration between Ideas and TradeStops, users can effortlessly export their selected shares from the Ideas platform to a new portfolio, which is then automatically transferred to TradeStops. This streamlined process ensures that traders can seamlessly transition from identifying potential investments to actively monitoring their performance within TradeStops.
To begin, traders can create a new portfolio in Ideas by handpicking the stocks they wish to invest in. Whether it’s browsing through the extensive Stock Finder results or exploring Dr. Smith’s Lab, traders have the flexibility to choose stocks that align with their investment goals. Once they’ve identified their preferred stocks, they can simply click the “Add to Portfolio” button to initiate the process.
Ideas empowers traders and investors by providing a platform to search for and analyze potential stocks. On the other hand, TradeStops focuses on monitoring the performance of these stocks within a new or existing portfolio. By combining these platforms, users can make informed decisions based on real-time data.
One of the key advantages of integrating TradeStops with Ideas lies in its risk balancing and position sizing features. TradeStops helps investors determine the optimal number of shares to purchase for a new stock without compromising the overall risk of their portfolio. This invaluable tool takes into account the investor’s risk tolerance and assists in maintaining a well-balanced and diversified portfolio.
Customization, Layout, And Compatible Brokerages
If you’re looking for user-friendly platforms to improve your trading game, TradeStops and Ideas are worth considering. While they may not offer dedicated desktop or mobile apps, these services are designed with simplicity in mind. However, it’s important to note that customization options are somewhat limited. Nevertheless, you can still tailor certain aspects to suit your preferences.
When it comes to customization, the focus is primarily on setting up alerts. While you won’t find an extensive array of options, you can create default configurations for your favorite investment strategies and portfolios. This allows you to streamline your trading activities and easily monitor the stocks or assets that matter most to you.
TradeStops makes it convenient to integrate your existing portfolio data from popular brokerage platforms. In fact, most brokers are compatible with TradeStops, enabling you to import portfolio data effortlessly. Whether you prefer a hands-on approach or want to save time, you have the flexibility to either enter the data manually or import it from a CSV file. This means that even if your broker doesn’t have a direct interaction feature with TradeStops, you can still keep track of your investments seamlessly.
One of the advantages of TradeStops is that you can import and track an unlimited number of portfolios. This feature comes in handy if you manage multiple investment accounts or portfolios with different strategies. By consolidating all your portfolios within TradeStops, you can easily stay on top of your investments and make informed decisions.
While TradeStops and Ideas may not offer the same level of customization and platform accessibility as some other services, they still provide valuable tools for traders. With their user-friendly interfaces and the ability to import portfolio data, these platforms can enhance your trading experience and help you make more informed investment choices.
Who is TradeStops For?
TradeStops is the ideal tool for individuals who identify as medium-term investors or those managing multiple portfolios, as it empowers them to effectively manage risk and allocate assets. With its comprehensive features, TradeStops is designed to cater to the needs of investors like you. However, if you’re an average trader looking for an affordable solution, TradeStops may not be the best fit for your budget.
TradeStops is often used in conjunction with another TradeSmith product called Ideas. By utilizing the powerful Stock Finder tool, you can effortlessly search for and evaluate stocks to construct a profitable portfolio. The combination of TradeStops and Ideas offers a complete investment portfolio management platform that covers all your needs.
When you incorporate TradeStops into your investment strategy, the platform takes on the responsibility of monitoring your investments and managing your portfolio on your behalf. This hands-on approach ensures that you can stay informed and make informed decisions without constantly monitoring the market.
In summary, TradeStops is tailored for medium-term investors and portfolio managers seeking effective risk management and asset allocation. If you’re looking for a comprehensive solution that streamlines your investment management process, TradeStops, in conjunction with Ideas, is the ideal choice for you. However, if you’re an average trader with a limited budget, you may find alternative options more suitable.
Learn more: How to Invest in Stocks: 7 Proven Steps
Praises For Tradesmith
Variety of Trading Platforms
TradeSmith offers a wide range of trading platforms to cater to both novice and experienced investors. This means you can choose the platform that best suits your trading style and preferences. Whether you’re a beginner looking for user-friendly tools or an advanced trader seeking sophisticated analysis features, TradeSmith has you covered.
Meaningful Data Interpretation
One of the key benefits of TradeSmith is its ability to help you infer meaning from the available data. The platform provides valuable insights and analysis to assist you in making informed trading decisions. By utilizing these tools, you can gain a better understanding of market trends and potentially improve your investment strategies.
TradeSmith understands that different investors have varying budgets. The platform offers a range of pricing plans, ensuring there’s an option suitable for your financial capabilities. Whether you’re looking for a basic package or a more comprehensive plan, you can find a subscription that fits your needs without breaking the bank.
Criticisms For Tradesmith
Costly Membership Option
While TradeSmith provides various pricing plans, it’s important to note that some options can be quite expensive. If you’re considering the premium membership, be prepared for a higher cost. It’s essential to assess your trading goals and financial situation to determine if the benefits of the premium membership outweigh the additional expense.
Upsells for Premium Functions
To access the premium functions and unlock the platform’s full potential, you’ll need to purchase upsells. This means that even after acquiring a membership, you may still need to invest more to enjoy all the advanced features TradeSmith has to offer. It’s crucial to factor in these potential extra costs when considering the overall value of using the platform.
Risky Nature of Stock Investments
Lastly, it’s important to acknowledge that investing in stocks inherently carries risks. While TradeSmith provides valuable tools and insights, it cannot eliminate the inherent uncertainties and fluctuations of the market. It’s essential to approach stock trading with a realistic understanding of the potential gains and losses involved.
Is TradeSmith A Scam?
While it’s not fair to label TradeSmith as a scam, it’s essential to approach it with caution and manage your expectations.
Let’s face it: financial ventures always come with risks. It’s crucial to acknowledge this fact before diving into any investment opportunity. While TradeSmith presents itself as a potential money-making tool, the reality is far from the easy road to riches that Richard Smith, the program’s creator, may make it out to be.
Imagine reaching the big leagues of financial success, where retirement means strolling through your own vineyard. It sounds tempting, doesn’t it? However, the journey to that point is filled with perilous obstacles that can shorten your lifespan, metaphorically speaking. Even then, there’s no guarantee of ever reaching that level of prosperity.
To shed some light on the matter, let me share a personal anecdote. One of my close friends happens to be a copywriter for a multinational corporation that sponsors financial television programs worldwide. Based on insider insights, I can confidently tell you that the impressive numbers often flaunted in TradeSmith’s advertisements and landing pages should be taken with a grain of salt.
What they conveniently neglect to mention are the countless failed bets and trades that preceded the grand success stories you come across. It’s easy to overlook these losses when they’re not highlighted, painting a distorted picture of the program’s overall performance.
The reality is that most people wouldn’t have the endurance to withstand three consecutive months of losses, hoping for that elusive major victory. It’s essential to approach TradeSmith with a realistic mindset, understanding that success is far from guaranteed and requires both knowledge and resilience.
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If you’re considering TradeStops as an investment platform, here’s the lowdown. While it does have its strengths, it’s important to note that TradeStops is not a one-stop solution for all your investment needs. Instead, it shines in a specific area of the investment process.
Think of TradeStops as a virtual advisor that can lend a hand when you need financial guidance. However, it falls short when it comes to providing comprehensive support or advanced research tools. This limitation might make it hard for seasoned investors, who are looking for more value, to justify the relatively high cost of the product.
Considering the available alternatives, there are definitely better platforms out there. If you’re willing to pay a premium, it’s worth exploring other options beyond TradeStops. One alternative to consider is the research and portfolio management features offered by major brokers like TD Ameritrade’s Thinkorswim. These brokers often provide their own free trading platforms, giving you more bang for your buck.
Best Alternative to Tradesmith For Making Money Online
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