As many of you probably have noticed, we have been following Day Trade Ideas for several years now. In fact, Jason Sen was our first ever guest on the DrinkForex podcast. There is a reason for that, Jason in a true professional who has been around the trading industry for his entire life. In fact, trading and providing analysis are the only jobs that Jason has ever held and he has been doing it for a very long time, 30+ years. Anyone who has been around that long has figured something out, which is why we had him on the show in the first place. But, we must admit that we did not subscribe to his service at that time, in fact it took over a year before we finally subscribed to his service. There is a reason for that, like most traders we just didn't understand the need to pay for analysis or trade signals because there is so much out there available for free. But we began receiving Day Trade Ideas analysis a few months back and we have never looked back. Before we get into the actual analysis and subscriptions let's first discuss who Jason Sen is, as it is important to understand his background to truly appreciate the analysis provided.
Before we get into that though we will be upfront about our review. Day Trade Ideas is a contributor to our site. So for our review we tried to focus on the facts of who is behind Day Trade Ideas, the cost, and what you get for your money. As with anything, we believe you should do your own research and not just blindly follow anybody.
BACKGROUND ON JASON
Jason Sen has been a trader and analysis for over 30 years. When he was 19 he began making markets in the pits of the LIFFE exchange for his own account. At the time he traded primarily options, which anyone around the trading industry knows are very complex. Often times people say Forex and Futures are Checkers, but options are more like Chess. A lot more moving parts and things to keep track of. Jason continued to trade in the pits until 2001 when the LIFFE exchange closed, after which he successfully made the transition to screen trading where he has been ever since. Additionally, when he made the transition to screen trading he added in Forex and Futures trading as he then had the ability to trade more markets. Around 2008 he was approached by several banks, hedge funds, and proprietary trading groups about writing analysis to help their traders. He did this for several years before expanding to offering that analysis to retail traders in 2012, which is when Day Trade Ideas really began.
The Analysis at Day Trade Ideas covers many markets. As we are writing this article they cover EURUSD, USDCAD, USDJPY, EURJPY, Bitcoin, AUDUSD, NZDUSD, GBPUSD, GBPJPY, WTI Crude, Corn, Soybeans, Gold, Silver, Dow Jones, S&P 500, FTSE 100, German Dax, Euro Stoxx, Canadian TSX, 10 year Bund, and 10 Year Canadian Bonds. It is incredible that him and his team can write that much analysis every single day. Now that we have covered Jason's background and the products covered at Day Trade Ideas we can move onto the actual analysis.
Technical Vs. Fundamental:
Day Trade Ideas 100% focuses on the Technical Analysis. If you are looking for Fundamental analysis or a combination of Technical and Fundamentals then this is not the analysis for you.
Jason primarily uses several technical setups and indicators when providing his analysis: Moving Averages, Trend Lines, Fibonannci Levels, and Stochastics. Breaking it down even further though, he really uses the 50 and 100 period Moving Average + Fibonannci to make his trading decisions. But, everyone of his charts will include some combination of the above indicators.
There are several different subscriptions you can register for at Day Trade Ideas, individual products or Premium Subscriptions. The only difference between the two is that for Premium you receive all of the products covered at a discount price vs. if you paid for each individually. Individual products cost £49.99 and the Premium Forex Service costs £199 pounds, but includes every currency pair + Bitcoin.
What you get for your money:
Once you subscribe to the service you will receive login credentials to the client back office. Each day before 6am GMT this is where the analysis will be uploaded. At the top of the analysis is a recap section of the specific pair/product from the prior day. It includes what happened for that pair for the day and how well the analysis favored. Moving down from there you will see a chart that shows the intraday, daily, and weekly trend. Underneath the chart is the full analysis for the day. Jason provides clear levels and what he is looking to do around those specific levels. He provides several different levels and scenarios to truly prepare you for the day. We have seen some analysis say things like, "we are going to buy at X price and hold until Y price". But, often times the price never reaches X and you are left confused for the rest of the day because it did not work out.
Day Trade Ideas analysis though provides several levels and scenarios so that you are prepared for the entire day. If a target area is reached, most days he will have a second and third target level so you can continue to trade that pair and know what is going to happen. On the flip side, if his initial analysis doesn't work out he provides a clear plan for the alternative trade. For example, if he is initially looking long, but the longs are not playing out well for that day, he provides levels where a trader should begin looking short, and targets to the downside.
In addition to the written analysis Jason also provides a daily Excel sheet with additional levels and several times a month does video analysis.
We give Day Trade Ideas analysis an A-. We believe that the analysis is top of the line, and being delivered by a true professional that really knows his stuff. We do believe though that the price is a little steep, especially for new traders. It can be difficult to justify spending almost $60 USD per month for a single report. But, overall, for those who do have the ability to afford this cost they most certainly will find great value in the reports and quickly make back the money in profits.
If you want to learn more about DayTradeIdeas and their analysis you can check out their website by clicking the below link.
CLICK HERE TO VISIT DAY TRADE IDEAS WEBSITE