Are you a self-directed investor ready to get into either long-term or short-term trading using stocks or options? Tradespoon could be just the ticket. Tradespoon describes itself as a “trade intelligence platform” — a software-based trading tool that can help you find optimal trades in the stock and options markets. Services are offered as information only, not as recommendations or investment advice.
- Educational resources are geared toward every level of trader
- Platform screens the entire market for optimal options and stock trades
- One-on-one trader mentoring and coaching
- Special promotional offers, such as lifetime membership
- So many choices make it difficult to select the best for your needs
Looking for a research platform with a comprehensive toolbox or are you a beginner looking to make the most of your trades?
Tradespoon just does that. The platform’s software algorithm screens the market and selects trades with the maximum probability of making a profit. Tradespoon comes with built-in analytics, trend analysis and communication tools but does not adopt or endorse any particular strategy or approach to evaluating or screening tradable assets.
You’ll get a subscription based on a set of market tools combined with a trader’s network and screener. Tradespoon is not an online brokerage, so you need to have an account with a brokerage firm.
Tradespoon does have third-party access to a couple of online brokers if you don’t already have one. In addition to screening for optimal trades through its software, the company provides one-on-one coaching for traders at all skill levels.
Who's Tradespoon For?
Tradespoon’s services can be useful to traders at all skill levels. Tradespoon offers a free section for novice traders called the Trading Vault with access to its extensive video training library, case studies and weekly live webinars.
For traders with more experience who are on the lookout for daily stock and options picks and other offerings, the company offers three paid subscriptions that cost $58, $83 and $125 per month. These paid services provide traders with several trading tool packages and can also be billed for annually.
Tradespoon’s Product Offerings
If you’re new to trading and want to learn more about it, you can sign up to Tradespoon to get access to its free basic courses.
Trade Intelligence Platform
The Trade Intelligence Platform is Tradespoon’s exclusive software. The platform consists of a toolbox with a variety of different market analytics.
Tradespoon Bulls/Bears. The Tradespoon system makes a complete weekly evaluation of stocks the system’s algorithm finds overperforming or underperforming. The rankings are then evaluated by the Tradespoon team.
The Tradespoon Bulls ETF page. Source: Tradespoon
Seasonal charts. This feature lets you examine the historical performance of a stock or index. It’s widely used by traders to perform technical analysis and look for stock trends and other price patterns.
Probability calculator. The calculator lets you determine the likelihood of a stock trading above, below or between certain price targets on a specific day.
ActiveTrader. This feature caters to traders who don’t have time to do their own stock market research but still want to actively trade every day.
MonthlyTrader. MonthlyTrader is for swing traders who don’t have time to do their own research but still want to trade about every week.
Stock Forecast Toolbox. This tool determines a stock’s price trend, turning points and movement vector direction over time periods between an hour and 10 business days. The toolbox generates accurate buy/sell signals and it comes with a Profit Calculator, Company Screener and Portfolio Manager. \
Tradespoon’s Stock Forecast Tool employs mathematical formulas based on neural network technology, statistical spectral analysis and digital filtration to arrive at a final assessment of a stock’s price trend as distinct from mere market noise.
The tool’s algorithm obtains information from mathematical and historical data to make a prediction of a stock’s price trend over time periods ranging from an hour to 10 business days. The tool’s objective is to make predictions with the highest possible level of accuracy. You can check out the useful tool with its 7-day free trial.
Education. In addition to weekly webinars, members can access a large collection of online videos with topics like the technical and fundamental analysis of stocks and options trading basics.
Forex Forecast Tool. With Tradespoon’s predictive analytics software, you can identify both daily and intraday price trends. The forex forecast tool gives you access to real-time currency prices, custom historical charts, one-click data downloads and accurate price forecasts.
Futures Forecast Toolbox. This tool lets you predict the next day’s high, low and trading range for any futures contract. It provides both short term and long-term price direction forecasts with up to 80% accuracy.
Trade Idea Tool. The Trade Idea Tool combines Tradespoon’s predictive prowess with your own investment criteria. The Trade Idea Tool takes your unique risk/reward profile, favorite trading vehicle and your market outlook to provide you with high-quality trading ideas.
Premium Member Stock and Options Picks. A bonus feature, Tradespoon will periodically alert its subscribers of their highest quality trade picks based on their criteria. This includes the direction of the trades as well as the exact entry and exit price levels.
Stock Focus List. A listing of highly liquid stocks updated by the latest research, the Stock Focus List features links to the seasonal charts and probability calculator.
Portfolio Toolbox. A complete toolbox to keep track of your portfolio, the Portfolio Toolbox includes an analysis tool, an optimization tool and a portfolio management tool.
Virtual Trading Tool. This functions much like a demo account and lets you execute trading ideas without actually trading. The tool tracks your returns and you can add more virtual money to the account anytime.
Third-Party Integrations. Because Tradespoon does not execute trades, the company has partnered with a third-party broker called TradingBlock, which offers the Stock Forecast Toolbox add-on that integrates with the MetaStock trading platform.
RoboStreet. This is a free source of weekly market commentary and insights based on the company’s proprietary models that adapt to various market conditions using artificial intelligence (AI).
RoboInvestor. This feature is geared towards long-term investors based on computer-generated mathematical formulas designed to reduce risk and forecast a stock’s future direction with considerable accuracy.
Elite Trading Circle. An exclusive members-only club of self-directed traders who have direct access to view Tradespoon founder Vlad Karpel’s trading activity, you can also participate in Live Trading Room sessions. Membership includes Traderspoon’s new WeeklyTrader service, a freshly developed prediction algorithm optimized for taking 2- and 5-day stock and options positions.
Recommendation Services
Tradespoon’s recommendation services are designed to accommodate different trading styles and goals.
ActiveTrader for Stocks and Options is a list updated daily and features 3 bull and 3 bear recommendations with 2 entry prices, stop-loss levels and target gain prices. The feature is designed for intraday trading or for positions held for 1 or 2 days.
MonthlyTrader for Stocks and Options is designed for swing trading and provides 3 weekly updates with 3 bull and 3 bear recommendations that include 2 entry prices, stop-loss levels and target gain prices.
Premium Member Stock and Options Picks is a product of the Tradespoon team’s technical and fundamental analysis on equities that premium members get access to. The company periodically releases a recommendation package that includes 1 stock trade, 1 option trade and an option spread trade.
Coaching services. Tradespoon offers one-on-one coaching services for traders who want to improve their trading results. The service is limited to how many students can be accepted in the program and gives prospective students guidelines that mentors look for before being accepted.
Free Training Vault. You can access Tradespoon’s Free Training Vault. The Training Vault prepares traders by providing education that covers what you should know before you begin trading in a funded account. The Training Vault has 2 sections: the Video Training Vault and the Trading Guide.
Video Training Vault
The Video Training Vault offers 9 educational videos. A video introduces the Tradespoon site and how to use the different trading tools offered. It includes an explanation of the essentials, such how to analyze market trends, choosing the best stocks to trade and the mechanics used to make stock picks.
- Options Basics: This provides you with a review of the basic options strategies you can use to generate extra income.
- Technical Analysis: The module teaches you to identify trends and the chart patterns most commonly used by stock traders to predict trend reversals, trend continuations and consolidations as well as technical indicators that generate buy and sell signals.
- Advanced Technical Analysis: This module is the continuation of the Technical Analysis module and contains advanced chart patterns and setups.
- Trade Management: This module reviews the entire process of placing and executing options orders.
- Portfolio Management: This video is designed to teach you how to calculate return on capital (ROC) and the probability of success, as well as how to perform an estimated move analysis, which can help you make better trading decisions.
- Trading Plan: Tradespoon teaches you how to manage your positions with demonstrations of basic and advanced trading plan strategies.
- Money Management: This trading module discusses some simple strategies you can apply to protect your trading profits.
- Advanced Options: The module concentrates on more advanced options trading strategies such as butterfly spreads, iron condor and calendar spreads.
Trading Guide
Tradespoon’s Trading Guide is a 4-part trading course designed to cover all the important aspects of trading. The Guide’s 4 parts include a total of over 60 sub-articles.
Tradespoon 101. This guide has 11 sections that introduce topics ranging from finding trades to choosing option expiration dates. The sections provide valuable information for any trader interested in getting started with options.
Advanced Options Strategies. In this guide, you will learn about multi-option spread strategies, like bull and bear call and put spreads and calendar spreads, in addition to topics like how to trade on earnings, the volatility skew and the Greeks used in options risk management, to name just a few.
Technical Analysis.In this section, you’ll learn about technical analysis methods and how they’re used in Tradespoon’s forecasting models.
Developing a Trading Plan. The last segment of the Trading Guide provides a framework you can use to develop a trading plan, assess chart patterns, make predictions and manage your portfolio.
Tradespoon’s Pricing
Tradespoon’s prices range from free for its video training library and weekly live webinars to $197 per month for its premium package. The 3 subscription packages are Stock Forecast, the Tools package and the Premium package.
Stock Forecast
With a cost of $127 per month or $697 per year if you choose annual billing, this package is Tradespoon’s most basic and includes the Stock Forecast Toolbox that can make forecasts for any stock or ETF. This toolbox is considered Tradespoon’s "crystal ball."
Tools Package
At $83 per month or $997 per year if you choose annual billing, this package includes the Stock Forecast Toolbox and full access to Tradespoon’s Institutional Grade Tools that combine its predictive abilities with your own personalized investment preferences.
Premium Package
The most complete of Tradespoon’s offerings, the Premium Package comes at a cost of $125 per month or $1,497 per year if you choose annual billing. The Premium package gives you access to Tradespoon’s best trading software, including the Stock Forecast Toolbox and Tools membership, the Premium Stock and Options Picks and email and SMS alerts with stock pick updates.
You’ll also get access to nightly videos detailing the company’s stock pick generation process.
Tradespoon’s Customer Support
The company’s customer support area offers clients four main options:
- FAQ section: The FAQs provide information about the website and how Tradespoon operates.
- Dedicated Support: You can fill out a form with a question that then gets answered by email.
- Tradespoon’s ChatBot: You can use this to enter your email address and name and begin a chat with Tradespoon’s AI.
- One-on-one consultation: You can access a personal consultation via a scheduling tab on the customer service page.
- Live Chat: You can live chat with a customer support representative during market hours.
No telephone number was listed for personal support on its customer support page or “Contact Us” menu option, but paid members can access a live chat with a real person after logging in.
Tradespoon’s Ease of Use
The website and its many features can be easily accessed through its intuitive user interface. The free material can be viewed or read immediately after signing up as a member, while the other features require a paid membership.
Final Thoughts
Looking for a company that provides trading algorithms to improve your trading or simply want to learn more about options and stock trading? Tradespoon could fit your needs. You can find out for sure by signing up on the site for free.
Once you get a feel for Tradespoon’s offerings and take some of its video courses, you can see if Tradespoon is right for you. You really can’t go wrong, even if you pay for one of its monthly packages since Tradespoon offers a no-questions-asked, 30-day money back guarantee to new traders.
The cost of the different packages might also be worthwhile if you’re an intermediate trader who wants to gain knowledge and trading opportunities, though many seasoned self-directed traders use their own methods to determine what stocks to trade and when to buy or sell them.
Frequently Asked Questions
What is Tradespoon?
Tradespoon is a software application that allows you to identify buy and sell points in stocks and options.
What are the benefits of Tradespoon?
Tradespoon offers numerous features to include educational tools, mentoring and a platform screener.
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About Jay and Julie Hawk
About Julie:
Julie Hawk earned her honors undergraduate degree from the University of Michigan before pursuing post-graduate scientific research at Cambridge University. She then started work in the private sector as a business systems analyst for a major investment bank, where she qualified as a Series 7 Registered Representative and received comprehensive training in various financial products. Further honing her skills, she attended the prestigious O’Connell and Piper options training course in Chicago, mastering professional option risk management techniques.
Julie then transitioned into the role of a professional Interbank forex trader, currency derivative risk manager and technical analyst, ascending to the position of vice president over a 12-year career in the financial markets. Julie’s illustrious banking career spanned working for major international banks in New York City, London, and San Francisco, where she served as an Interbank dealer, technical analyst, derivative specialist and risk manager. Her responsibilities included educating, devising customized foreign exchange hedging and risk-taking strategies, and overseeing large-scale transactions for esteemed banking clients, including corporations, fund managers and high-net-worth individuals. As part of her responsibilities, Julie managed substantial portfolios of forex options, spot, and futures positions as a currency options risk manager, earning recognition for executing innovative and highly profitable forex derivative transactions. Julie also spearheaded educational conferences on currency derivatives.
During her banking career, Julie attained world-class expertise in technical analysis, including Elliott Wave Theory, and pioneered research into automated trading and trading signal systems. An active member of the San Francisco Writers’ Guild, Julie also authored trade strategies, educational material, market commentary, newsletters, reports, articles, and press releases. She became a sought-after market expert who was frequently interviewed by financial magazines and news wires such as REUTERS.
Following her retirement from the banking sector, she dedicated 15 years to online forex trading, mentoring and freelance writing for TheFXperts, which she co-founded with her husband Jay. Julie is the co-author of “Forex Trading: A Beginner’s Guide” and “Technical Analysis for Financial Markets Traders,” in addition to five other books on financial markets trading and personal finance. She now focuses on writing articles on financial markets for platforms like Benzinga, although she continues to trade forex online and mentor fellow traders as part of TheFXperts’ financial team.
About Jay:
Jay Hawk grew up in Chicago and Mexico City where he became bilingual in English and Spanish. After taking formal training as a classical guitarist at prestigious music conservatories in Europe, Jay then embarked on a remarkable journey into the financial markets, cultivating his notable expertise through hands-on experience that began on the Midwest Stock Exchange.
His financial career progressed as he started actively participating in various exchange floor trading activities in the Chicago futures and options pits, where he worked his way up the ladder, serving as a clerk, trader, broker, investor and fund manager. Jay then ran a retail stock brokerage desk and managed funds for large institutional investors, leveraging his discretionary trading skills to yield profitable results for clients.
This ultimately led to Jay holding exchange seats and operating as a market maker on options exchanges in Chicago and San Francisco, initially on the Chicago Board Options Exchange. Jay also played a significant role in the Chicago Mercantile Exchange’s evolution, where he contributed to launching and actively trading the first listed currency futures options. After transitioning to the West Coast, Jay then held a seat and ventured into trading stock options and their underlying stocks on the Pacific Options Exchange.
Jay’s comprehensive understanding of fundamental economic and corporate analysis continues to inform his trading and investment activities and has led to his subsequent success as an expert financial writer. Together with his wife Julie, he co-authored “Stock Trading: A Beginner’s Guide”, “Commodity Trading: A Beginner’s Guide” and “Fundamental Analysis for Financial Markets Traders,” among their published books focusing on financial markets trading, market analysis, and personal finance.
As an integral member of TheFXperts’ team, Jay now excels in trading forex online for his personal account, mentoring aspiring traders and writing for financial platforms like Benzinga where he specializes in covering topics related to the stock and commodity markets, as well as investing, trading and reviewing online brokers.