TraderSync Review – Should You Try This Trading Journal?

About TraderSync

TraderSync is a extremely interactive buying and selling journal that allows you to analyze your previous trades. The software program goes far past merely permitting you to make notes about your private trades. You may create classes for setups and errors and shortly see whether or not there are days, instances, or forms of trades which might be delivering essentially the most revenue. You can even quantitatively mannequin how your revenue and loss would change by pursuing a particular buying and selling technique or eliminating a particular sort of mistake.

So, is TraderSync best for you? In our TraderSync evaluate, we’ll take a better take a look at all of the options this buying and selling journal has to supply.

TraderSync Pricing

TraderSync has 4 pricing tiers.

The Fundamental plan is free, however requires you to publish the trades you go online TraderSync to Twitter. In impact, that is an ad-supported account together with your Twitter account serving because the promoting platform. The free account helps you to tag setups and errors, however all trades should be entered manually, and there are few evaluation instruments that can assist you enhance over time.

The Professional plan prices $29.95 monthly or $312 per yr and provides numerous key options. You may import trades robotically from most buying and selling platforms, observe your revenue and loss by a number of variables, and observe commissions and charges.

The Premium plan, for $49.95 monthly or $521 per yr, provides the evaluator and simulator options. This allows you to dive deep into your buying and selling knowledge and quantitatively mannequin potential revenue and loss in case you have been to alter your buying and selling habits.

The Elite plan prices $79.95 monthly or $834 per yr and presents commerce administration, which lets you create a rules-based buying and selling plan. Further knowledge insights are offered by synthetic intelligence. The Elite plan additionally comes with entry TraderSync’s market replay function and the power to set automated cease loss and revenue goal ranges on your trades.

The Professional, Premium, and Elite plans every include a 7-day free trial. TraderSync works for a number of monetary markets, together with shares, choices, futures, and foreign exchange.

TraderSync Options

Buying and selling Journal

Earlier than diving into a few of the superior options that TraderSync presents, it’s value mentioning that this software program presents all the fundamental instruments you’d anticipate from a web based commerce journal. You may write notes on any commerce and take screenshots of the worth chart to connect to your notes. TraderSync can even robotically annotate charts together with your entry and exit factors and observe particular person commerce particulars like cease loss or value goal ranges.

TraderSync helps knowledge monitoring and commerce imports for a number of asset lessons, together with:

Shares

ETFs

Choices

Futures

Foreign exchange

Cryptocurrencies

You can even observe a number of accounts and segregate them when analyzing commerce knowledge inside TraderSync.

It presents interactive charts from TradingView, enabling you to visualise your commerce entries and exits for any image. You can even monitor your present portfolio, generate general efficiency stories, and observe your commissions and charges.

Setup And Mistake Tagging

One of many key options of TraderSync that helps set it other than different buying and selling journals is commerce tagging. The platform means that you can create two units of tags – one for commerce setups and one for commerce errors. The setup tag allows you to determine what your goal was whenever you entered a selected commerce, whereas the errors tag presents an opportunity for reflection and to mark what went incorrect together with your misplaced trades.

It’s essential to make use of the setup and mistake tags inside TraderSync. They play a significant function within the superior evaluator, simulator, and commerce administration modules. There’s no restrict to what number of setup and mistake tags you’ll be able to create, and you may add a number of tags to anyone commerce.

Knowledge Stories

A neat factor about TraderSync is that it tracks much more about your buying and selling historical past than simply what setup they have been based mostly on and whether or not they have been wins or losses. The software program robotically attaches a wealth of metadata to each commerce, together with what day of the week it came about, what hour it was opened, what market sector the underlying asset is in, and even the amount you traded.

All of this knowledge can then be used to guage your buying and selling efficiency. Say, for instance, that you just need to take a look at buying and selling efficiency by day of the week. You may see your complete revenue and loss throughout all trades for every day of the week, your variety of trades per day, and even the variety of mistake tags you’ve added by day.

This knowledge could be useful as a result of it allows you to determine patterns in your buying and selling outcomes. If a sure day or market sector is working properly for you, you’ll be able to double down on it. If you’re constantly shedding cash buying and selling earlier than, say, 11 am, then you’ll be able to swap to buying and selling primarily within the afternoon.

Evaluator And Simulator

The evaluator and simulator modules help you dig into your entire commerce knowledge without delay as a substitute of taking a look at particular person variables one after the other.

With the evaluator, you’ll be able to evaluate the efficiency of various setups and mix that with efficiency knowledge by day of the week, entry quantity, entry value, and extra. The ensuing plot reveals the change in your portfolio throughout mixtures of variables based mostly on efficiency over time.

Sadly, you can not change the axes for the evaluator plots. This is able to make it a bit simpler to dive into the information as it could allow you to plot one variable in opposition to one other. The best way the evaluator module is at the moment arrange, the plots could be considerably troublesome to interpret when you begin together with a number of knowledge classes.

The simulator works equally to the evaluator, besides which you can see how your revenue and loss would change by altering your buying and selling habits. For instance, you possibly can see how a lot your earnings would enhance in case you remove all trades which might be tagged with a particular mistake. You can even see how your earnings would change in case you solely traded a particular subset of setups, or on sure days of the week. It’s an effective way to see what’s working properly, what’s not, and what buying and selling methods it is best to persist with for future trades.

Commerce Administration

The commerce administration function is simply out there to Elite subscribers. This function is akin to the simulator, however isn’t as user-friendly as a few of TraderSync’s different modules.

The commerce administration module helps you to create a algorithm that you’re attempting to comply with when buying and selling. TraderSync will then robotically observe whether or not you adopted your personal guidelines on your trades, each up to now and going ahead in time. The software program will then plot your entire trades on high of a revenue and loss chart and use color-coding to determine which trades adopted your plan and which trades broke a few of the guidelines.

The thought is that some trades fail not as a result of your technique is unhealthy, however quite since you didn’t completely execute in your technique. TraderSync’s commerce administration device helps you determine whenever you’re making execution errors, see the impression these errors have in your profitability, and modify accordingly.

Market Replay

TraderSync just lately added a market replay perform for Elite subscribers. This lets you replay value motion for any image on any day up to now. You may velocity up or decelerate the playback velocity.

One facet of the replay perform that’s particularly good is which you can replay any commerce out of your journal. Simply click on on the replay button and TraderSync will soar to the chart on the time you opened your commerce. You can even create “playlists” of commerce replays for particular methods, which is useful for visualizing errors that you just determine utilizing the commerce administration device.

Synthetic Intelligence

One other new function out there to Elite subscribers is an AI “coach” named Zukzu. The AI can level out actionable takeaways out of your commerce knowledge, like the truth that most of your earnings are coming from one technique or {that a} particular mistake is costing you repeatedly.

The AI coach appears to be a step by TraderSync to scale back the quantity of knowledge evaluation required to get worth from the software program. Nonetheless, it’s solely out there to Elite subscribers, who’re additionally the merchants almost certainly to need to use TraderSync’s superior instruments to dig into the information themselves. We didn’t discover the AI to be significantly useful, however it is going to be attention-grabbing to see how this function evolves over time.

TraderSync Customization and Structure

TraderSync is extremely customizable each in its reporting instruments and its show. The software program offers an information overview in the primary dashboard whenever you log in to TraderSync. You may type all of the trades you’ve made in accordance with any of the platform’s knowledge classes and add filters proper contained in the dashboard.

Plus, the dashboard is full of customizable widgets that you need to use to shortly spot patterns in your buying and selling. These widgets are much like in-depth knowledge stories, however it may be good to have them immediately out there in your dashboard.

TraderSync has an online interface in addition to a cell app for iOS and Android units. The platform additionally presents dozens of video tutorials that can assist you get began with the net buying and selling journal.

TraderSync additionally makes it simple to share your commerce knowledge or stories. This may be very useful in case you work with a buying and selling coach.

Appropriate Brokerages

Paid TraderSync customers can robotically import commerce knowledge from greater than 100 brokers and crypto exchanges. When you’re utilizing a mainstream US dealer or buying and selling platform, your chances are high good that the platform helps it. In fact, you’ll be able to at all times add trades manually, too.

For many brokers, it’s important to manually sync trades on the finish of every day or each few days. Nonetheless, TraderSync has launched an auto-sync perform for a rising variety of brokers.

Be aware that whereas TraderSync presents real-time charts, you’ll be able to’t commerce instantly from the platform.

TraderSync Platform Differentiators

TraderSync presents versatile commerce evaluation for lively merchants that goes far past customary journaling instruments. Commerce notes play a comparatively small function on this platform. As a substitute, the emphasis is on categorizable metadata like setup tags, mistake tags, day of the week, entry value, market sector, and extra. This data-centric strategy means that you can slice and cube your commerce knowledge to identify robust factors and weaknesses.

It might be attainable to imitate most of TraderSync’s options utilizing pivot tables in Excel or an identical program. Additionally, there are different commerce journals on the market, reminiscent of TraderVue and EdgeWonk, that provide helpful instruments for technique monitoring. Nonetheless, there’s a lot to be stated for TraderSync’s easy knowledge visualizations and the truth that it additionally means that you can add notes and screenshots to your trades like a normal buying and selling journal.

TraderSync has additionally performed an excellent job of including distinctive options for Elite subscribers. The commerce administration function is a bit complicated, however we haven’t seen something like this from different commerce journaling software program. It’s extremely actionable and works particularly properly with the brand new market replay device.

Try opinions of different on-line buying and selling journals to see which is greatest for you:

What Sort Of Dealer Is TraderSync Finest For?

TraderSync is an entire buying and selling journal software program designed for the day dealer or swing dealer who wants a solution to mirror on their trades and enhance their buying and selling success over time. You should use the commerce to trace the success of a number of methods, catalog your errors, and make modifications to your buying and selling execution based mostly on exhausting knowledge.

Importantly, this software program requires a ardour for knowledge analytics. TraderSync retains observe of your knowledge and places evaluation instruments at your fingertips. But it surely’s as much as particular person merchants to reap the benefits of the evaluator, simulator, and commerce administration modules and to mess around with totally different buying and selling habits modifications.

TraderSync helps a variety of asset lessons and greater than 100 brokers, so that you’ll be capable to use this software program nearly it doesn’t matter what property you commerce.

Execs

Big selection of metadata tracked for each commerce

Limitless setup and mistake tags

Robotically import knowledge from 100+ brokers

Consider how buying and selling habits can have an effect on P&L

Simulator and market replay aid you determine execution errors

Cons

Evaluator doesn’t provide customizable axes

Commerce administration module isn’t very user-friendly

Paid plans are costly and Fundamental account is proscribed

Many options could be replicated in Excel