Trading Journal: How Writing Trades Down Can Offer In ..

You’ve got to love the interactive charting tools provided on this platform. With these well-made charts, you can review your activity in different time frames. This is probably the best-made digital trading journal available out there currently. To help you get started in the right direction, let us take a look at the top 3 best trading journal picks that you can make.

TraderSync’s trade simulator is a huge differentiating factor for this platform. You can simulate what your overall trading performance might look like if you were to change specific aspects of your strategy or focus only on specific setups. This is a really effective way to make adjustments to your trading to increase your profitability. TraderVue offers a free plan that lets you add up to 30 trades per month and includes limited customization and analysis options. While you can keep a trading journal manually, there are plenty of software platforms that automate the journaling process and make it easier to analyze patterns in your trading. Let’s take a closer look at the six best trading journal platforms for 2022.

  1. When I’m losing on what seems like every trade, my journal will let me know loud and clear.
  2. Edgewonk facilitates the user to modify the input trading data, including every trade tag and adding notes.
  3. Tradervue has all the features you expect from a high-quality investing journal, including a social component that lets you link up with friends and publish your trades.
  4. Trademetria is a journaling software, trade analyzer, and portfolio tracker.

The more you test different strategies and learn about yourself, the more successful you will be over time. You can improve your success rate and ultimately make more money from your investing if you put in the time to conduct post-trade analysis. Reviewing the film is a critical part of professional sports, and investing is no different. I personally use TraderSync for my trading journal, because of a fantastic design that is very easy to use and a slew of features and functionality that easily beat the competition. For beginner users, it is recommended to import your trades directly from your broker into your TraderSync.

practice trading

The good news is that they do allow you to import data but only from selected brokers. So, in our view, this is a superb tool as it takes over so much legwork as far as processing and analyzing data is concerned. But even with that said, it does require your input to create meaningful and detailed entries. The cheapest tier provided by TS will set you back some $30 per month. This package, however, doesn’t provide you with the “Trade Import” functionality among other cool features. Better tiers exist namely Premium at $50 per month and Elite at $80 per month.

Arguably, that’s what your online stockbroker is for, but nonetheless it is a unique feature. It also supports crypto, which I’m sure will make some traders very happy. Tradervue was one of the very first trading journals to come online and remains a reliable resource for traders.

Chartlog – Best Charting Tools

You can view the performance of your account over a selected period. This includes your win percentage, traded volume, and profitability. Auto-import – You can import your trading history directly from your broker – Tradervue supports over 70 brokers. If your broker is not supported, you can manually input your trading activity onto the platform.

It has been around since 2011 and seems to be getting stronger with time. And just like with EdgeWonk, TraderSync enables you to upload screenshots of individual trades. This helps you store as much data as possible for even better analysis. Some pundits describe it as the “next-level trading journal” but just how true are those claims? Well, we would say that this is a really good trading journal although it’s not 100% perfect.

Best Trading Journal: Tradervue Review

Edgewonk’s in-depth trade analysis tools are a dream for traders who thrive on data. These tools dive deep into every trade, dissecting the decisions and outcomes. The insights derived from this are invaluable in refining trading strategies and eliminating recurring mistakes. Trademetria is an all-in-one investment research platform, charting software, and trade journal. It offers a wide range of trade tracking features, including the ability to annotate charts, upload screenshots from your trading platform, and create your own custom trade tags. Profit.ly offers analysis tools so you can track your own performance and see how your trading improves over time.

What’s Your Trading Game Plan?

Making use of a comprehensive trading journal also allows one to form an accurate picture of their overall performance both on average as well as within certain markets or instruments. Overall, trading journals provide many benefits for investors whether they are new best trading journal or experienced. Chartlog is unique among trading journals in that the platform has advanced charting tools from TradingView built-in. This enables the platform to automatically tag trades and setups based on strategies and indicators available within TradingView.

Moreover, it even supports a built-in trade simulator to test the strategies without risking a dime. The capability of supporting more than 140 platforms or online brokers has hyped its compatibility. This platform conveniently integrates with many online brokers to add to your ease so you can quickly and instantly import your trade. As the OG of online trading journals, Tradervue has provided powerful trade reporting to professional and serious traders for many years now. For the longest time they were my journal of choice, and I would still be satisfied with all their analysis features. As with others, tradervue works on any device, and their import function is compatible with 82 brokers, with 5 of those being automatically synced.

You can always import CSV files to a trading journal app and then use the features of the app to do further analysis. Still, the real comfort comes with a trading journal that automatically https://g-markets.net/ pulls and syncs all trading activity. The most simplistic one is printing out a price chart and, manually drawing trade entries, exits on the chart and making notes on paper.

So, you can keep different datasets and reports for each of your trading accounts. The strategy backtester enables you to simulate “what if” scenarios and see how they would have performed relative to your actual trades. An optimization module runs future trade simulations so you can visualize possible ranges of factors like account drawdown and profitability.

Trademetria is another well-known and functional online trading journal software created by Thiago Ghilardi. He was a full-time trader who came up with a practical and one-among-all tool that is used by more than ten thousand users around the world. Despite being a veteran, this platform offers one of the most advanced integration systems. This trading journal software works well with around 70 trading platforms and brokers. It opens almost every possible way to import trade from every trading solution.

Discover your best or worst trading days

Key figures like overall return, risk, return per share and options contract are supported, notes can be made for each trade, and you can tag trades and track commissions. Those who want can set up a public profile and share their trades with others. This trading journal allows you to monitor multiple metrics on multiple accounts, and it even has a built-in trade simulator so you can test your strategies without risking a dime.