The Odds Maker
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The Odds Maker is part of Trade-Ideas Pro. Download the latest version and start your free trial now.
What is it?
The Odds Maker is an add-on module inside Trade-Ideas Pro.
- Calculate the odds of winning trades on any Trade-Ideas alert and filter combination.
- Know in advance which trading strategies produce profitable trades in the market.
- Evaluate strategies based on win rate of strategy, average winner, average loser, net winnings.
The Odds Maker becomes a valuable tool in a trader’s arsenal.
- Avoid trading strategies without knowing their odds in the market.
- Understand where profits can be taken and stops can be placed.
- Instantly answer the following questions: Should I be going long or short? Are breakouts following through or are they failing?
Backtest the entire market – confirm you’re using the right strategy
Most other backtesting tools can only track one stock or instrument in their analysis. The Odds Maker looks at all the exchanges or custom symbol lists to determine the odds for a winning strategy. The Odds Maker is a quick and powerful tool that considers what’s working now – in other words, what strategies are the most in tune with recent market activity?
Test a strategy’s win rate – set expectations for winners and losers
Dr. Brett Steenbarger describes The Odds Maker and Trade-Ideas in this way, “The Trade Ideas program screens the market for various patterns; Odds Maker tells you if those patterns would have been profitable if held for user-defined periods with user-defined stops.” (Source: Traderfeed Blog)
Note: Dr. Brett Steenbarger does not maintain a commercial relationship with Trade Ideas LLC or any of its sites or services.
The Odds Maker goes back approximately three weeks (15 trading sessions) in time and scans for all the occurrences of a pattern that a trader identifies in the Trade-Ideas Pro application. The Odds Maker then produces a performance summary to tell a trader how many trades would have been made during that 15-session period, how many were winners and losers, the average size of winners and losers, and the net profit/loss trading that pattern. The performance summaries can be for the entire market, a selected basket of stocks, or an individual equity. User-controlled features help traders tweak entry and exit criteria and see how these impact profitability.
Price
Free Trial
Each paid subscription to Trade-Ideas comes with 10 free trials of the Odds Maker. Just start Trade-Ideas Pro, and hit the "Backtest" button.
Regular Price
After you have used your free trial, the Odds Maker will be available for a one time fee of $1,100. You will also need an active Trade-Ideas account to use the Odds Maker. Purchase now.
