Exeleon Magazine

Trade Ideas: Generating Better Ideas for Better Decisions

Trade Ideas CEO Dan Mirkin for Exeleon Magazine

Decisions play a vital role in every aspect of our lives. It steers the direction of our life and, at times, we don’t even realize it. The weight of every decision that we make is usually measured through its consequences, whether it be good or bad.

The trading market is one such pivotal industry wherein every decision that gets made has a huge weight attached to it. Thus highlighting the imperative need to make well-informed decisions that are backed with precise insights.

Back in 2002, this need in the trading industry led to the inception of Trade Ideas. A company that is driven by a simple mission: Generating better ideas for better decisions in the market.

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Integrating AI in Trading

The founders of Trade Ideas formed the company to fill the need for an easy to use, cost-effective, unregulated, risk management, and analytics equity-based research tool. The platform ensures optimal efficiency level by integrating some of the latest technologies to its tool.

Trade Ideas creates Artificial Intelligence generated, actionable market intelligence for institutions, fund managers, wealth management advisors, and self-directed investors to make consistent informed decisions that mitigates risk and captures alpha.

As a SaaS Fintech innovator for over 15 years, Trade Ideas leverages algorithms derived from recursive, Machine Learning, Artificial Intelligence to develop trade plans and produce statistically tested, optimized performance results. Trade Ideas is the first to pioneer A.I-as-a-Service with a strikingly high performance track record.

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HOLLY: More than a Virtual AI Assistant

The Virtual AI Assistant of Trade Ideas, named HOLLY, is unemotional and unattached to the popular names of the day. “More than 70 strategies have been developed by our team of trading experts and fed into the AI,” Dan claims.

At the conclusion of each trading day, the Virtual AI assistant runs on each strategy and runs through millions of simulations to identify and adjust parameters for improving each strategy

The end result is a daily re-optimization of each strategy for best performance in the current market environment. Then, from its bucket of 70 strategies, the AI selects only a small subset (5-10 strategies) to be active on the next trading day based on the AI analysis of the current and expected market conditions.

Dan Mirkin CEO of Trade Ideas Quote

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A Continuous Journey of Growth

According to the company, its growth is fueled by a potent mix of innovation and teamwork. “Our approach to expanding the team, whether by acquisition or hiring, is rooted in a clearly defined company culture and set of values that make these most important decisions easier to make. Our best hires are already well known having come from constantly nourished networks which include customers, affiliates, and partners.”

It has resulted in a long record of team member retention and recognition by leading platforms like the Inc. Magazine among their list of Best Places to Work in 2019.

During the initial phase of its journey, the company made a deliberate decision to break away from the firms that its competitors targeted, namely Wall Street institutions and capital firms. Dan recalls, “In an era of rapidly shrinking trading floors and staff, the long sales cycle often resulted in a meager amount of license seats. Our novel approach at the time was to target online retail brokers who had thousands of customers using technology decided by one manager or small team of executives.” This proved to be a key factor behind the early growth of the company, as it went on to partner with Scottrade and then ETRADE.

Show & Tell Approach

Trade Ideas employs a Show & Tell approach that presents its technology in an assortment of ways in order to meet the potential subscribers where they are in their journey participating in the markets.

“Many of our experienced, actively trading subscribers join via our extensive affiliate network by referral. Others join only after receiving a Trade of the Week email, visiting Trade Ideas’ free and moderated Traders Room, attending an information webinar, reading an article, or listening to our podcast.“

Once subscribed, the clients make sure to attend regular Q&A webinars or interact with the award-winning support staff of the company to get answers.

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A Workplace with a Strong Culture

Trade Ideas maintains a cadence within the organization by consistently scheduling huddle meetings twice a week for Development and Marketing/Support, wherein key issues are identified and status on items are communicated. Productivity tools like Slack are used to keep the team members connected to each other, despite the distance in some cases. Wins are celebrated together socially on a regular basis and at User Summits and Annual Meetings.

Trade Ideas boasts a strong work culture, developed over the years, that seeks to show how every team member’s contribution impacts others within the company as well as the lives of its clients.

Dan points out, “Team members are empowered to raise issues, identify risk, and make decisions that reflect our clearly defined values. When we all know what we’re working for and the impact we have on others, we see and prioritize issues much more clearly and produce better results almost naturally.”

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Turning Experience into Results

Dan Mirkin, the CEO of Trade Ideas, boasts an impressive trading history, one wherein traded fractions on the Single Order Execution System pioneered by Nasdaq—SOES Bandits. Strikingly, as per the company, Dan serves Trade Ideas in the same capacity as Bill Gates did to develop the Microsoft Windows OS.

With over 20 years of experience, Dan contributed to the designing and testing of CyberTrader, the first commercially viable Direct Access trading platform that was acquired by Charles Schwab for USD 400 million in 2000.

Upon seeing the need for a next generation research tool, Dan started Trade Ideas. He provides a strong vision of how the technology is actually needed by the clients. According to the company, “This isn’t done via focus groups describing pain points, but rather by observing and interacting with clients during trading decisions, feeling their pains, and constantly trading with the product itself.”

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A Future Filled with Innovations

Trade Ideas constantly innovates to the delight of its clients and partners. The future pipeline for the company is replete with innovations that are set to launch in the coming years and also with long-term developments. Nearly all of these innovations are build off of the demonstrated capabilities of the robust machine learning AI Trade Ideas that was launched back in 2016. These include the ability to execute paper trades within the platform, connect and trade with various brokerages within the platform, analyze additional asset classes such as mini-contracts, FX, crypto-currencies, and more.

“All of these innovations only further emphasize the mission of Trade Ideas: Generate better ideas for better decisions in the market,” Dan concludes.

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Website – https://www.trade-ideas.com

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