The platform is very comprehensive and takes a bit of time to get used to, but they have many videos on their YouTube to help with this as well as their support team. In this guide, I will break down the best trading journal apps available today for analyzing stocks, options, futures, forex, and cryptocurrency trades. I’ll also cover some tips for success with examples from my personal trading for those who are new to journaling their trades. That said, your Excel-based trading journal is only limited by your capabilities and strategy.
The platform’s aim is to enable traders to learn from one another, and particularly from highly successful traders. Chartlog can import data automatically from most major brokerages and enables you to take notes on any of your trades. It also offers plenty of ways to filter and analyze your trade data, including risk-adjusted performance reports. Just note that you need a top-tier Pro subscription to analyze trades by date range, duration, asset type, or tag combinations. Having all of this information readily available allows traders to review their performance on a regular basis and makes it easier to identify areas of weakness that require improvement. Using a trading journal can help traders become more aware of psychological biases such as fear or greed that may lead to suboptimal decisions when left unchecked.
Open your account. Trade within minutes.
If it is quiet in the markets or if there are no new observations worth writing down – there is nothing wrong with skipping it. Start a free trial for 7 days or enjoy their free plan with limited features until you are ready to upgrade. Tag your trades with any tags you want; best trading journal later, you can filter your trades by these tags to drill down to just what you’re looking for. Record and review your trades with the TraderSync App from your mobile phone. Forget about spending hours looking at multiple spreadsheets to decipher what setup to focus on.
Everyday after market hours, we get millions of trades from OPRA (Options price and
reporting authority). This contains every single options trade that happened in the US
market for that day. Using this data, we find out sweep, block and split type of trades which are essentially
known as “unusual activity” or “unusual trades”. With this, for each stock, we can make an
data-driven guess as to what the larger traders are speculating.
Tradiry trading journal available for any markets, and works with trading accounts in all currencies. It does not offer as in-depth analytics as some other tools, however, if you’re just starting out it provides more than enough information to help you tangibly improve. As a bridge between the advanced analytics of a monthly subscription paid trading journal and free one, Edgewonk is probably the best middle-ground. Apart from the above-listed details, your journal may still have additional useful information about the trades.
- A trader’s personal thoughts on the position should also be included as they could provide helpful insights into how emotions may have impacted the trade decision.
- Chartlog is unique among trading journals in that the platform has advanced charting tools from TradingView built-in.
- Edgewonk is another powerful online trading journal tool, fully customisable with powerful analytics, gamification features, and a solid list of supported assets.
Reviewing the film is a critical part of professional sports, and investing is no different. Now, let’s dive into the different trading journal options and their pros and cons. Take a look at your losses and recap the red day to build a plan to improve. Understand if you’re risking too much on your trade, how you’re performing for the month, what bad patterns you keep repeating, and more. When acquiring our derivative products you have no entitlement, right or obligation to the underlying financial asset.
Using a Trade Journal Spreadsheet
The level of detail and ability to really dig deep on metrics is unparalleled. This tool has helped me so much in defining my trading strategy and where my edge is. If you are just getting started trading and you don’t need to bulk upload a long account history, consider trying the free version. Most beginning traders will be content with the relatively inexpensive “light” versions and, as said before, you can always create your own, too. In his book Trade Your Way to Financial Freedom, Van Tharp advocates finding the right strategy for you.
What is the best trading journal for NinjaTrader?
TradesViz is the best journaling and trades analysis companion for NinjaTrader. Annual Billing save 25% 3 Months Free!
I’m more than happy with my experience and so excited to see what new features they bring to the table as they continue to grow their business. If you’re on the fence, I encourage you to jump right over and take it for a spin with their risk-free trial. Thanks to all the TradesViz team members who continue to make my Trade Journaling efficient and effective. Despite the blow to my pride, without tagging my trades and using a trading journal, I never would have been able to determine day trading wasn’t right for me. And, even better, thanks to the tagging and strategy honing, I learned a lot about myself as a trader.
What is the best trading journal for TradingView?
TradesViz is the best journaling and trades analysis companion for TradingView.