Alleviate of Use
The Premium strategy, for $49.95 per month, adds the evaluator and simulator functions. If you were to change your trading habits, this allows you to dive deep into your trading data and quantitatively model prospective earnings and loss.
So, is TraderSync right for you? In our TraderSync evaluation, well take a more detailed take a look at all the functions this trading journal needs to provide.
The Pro, Premium, and Elite plans can be checked free of charge for as much as 7 days.
TraderSync is a trading journal that provides a variety of tools for evaluating your previous trades. With TraderSync you can not just make notes about trades, but you can also create classifications for setups and mistakes as well as see whether there are days, times, or types of trades that have been the most rewarding.
TraderSync is a highly interactive trading journal that enables you to analyze your previous trades. You can produce categories for setups and errors and rapidly see whether there are days, times, or types of trades that are providing the most revenue.
TraderSync has 4 pricing tiers. A Basic subscription is complimentary, however just offers you access to the software applications most fundamental functions. You can tag errors and setups, however all trades need to be entered manually, and there are few analysis tools to assist you enhance with time.
Prior to diving into some of the sophisticated features that TraderSync provides, its worth pointing out that this software application provides one of the most fundamental trade journaling tools. You can write notes for any trade and take screenshots of the rate chart to connect to your notes. TraderSync will also instantly annotate charts with your entry and exit points and your stop loss or rate target levels.
The Elite strategy costs $79.95 monthly and provides trade management, which permits you to develop a rules-based trading plan. It also comes with the ability to set automated stop loss and revenue target levels for your trades.
The Pro plan costs $29.95 per month and includes a lot of key functions. You can import trades immediately from your broker, track your profit and loss by a host of variables, and track commissions and charges.
Setup And Mistake Tagging
A cool thing about TraderSync is that it tracks a lot more about your trades than simply what setup they were based on and whether they were losses or wins. The software immediately attaches a wealth of metadata to every trade, including what day of the week it happened, what hour it was opened, what market sector the underlying property is in, and even the volume you traded.
All of this information can then be used to examine your trading performance. Say you want to take a look at trading efficiency by day of the week. You can see your overall profit and loss throughout all trades for each day of the week, your variety of trades each day, and even the number of mistake tags youve added by day.
One of the key features of TraderSync that helps set it apart is tagging. The platform permits you to create 2 sets of tags– one for trade setups and one for trade mistakes. The setup tag allows you to recognize what your goal was when you got in a trade, while the errors tag provides a chance for reflection and to mark what failed with your lost trades.
Its essential to use the setup and mistake tags within TraderSync. They play a significant function in the advanced evaluator, simulator, and trade management modules. Theres no limit to how lots of setup and mistake tags you can create, and you can add numerous tags to any one trade.
This data can be practical since it allows you to spot patterns in your trading. If a certain day or market sector is working well for you, you can double down on it. If you are regularly losing cash trading before, state, 11 am, then you can change to trading mainly in the afternoon.
Evaluator And Simulator
Plus, the control panel is filled with adjustable widgets that you can utilize to quickly identify patterns in your trading. These widgets resemble extensive data reports, however it can be good to have them immediately available on your dashboard.
TraderSync Customization And Layout.
TraderSync Platform Differentiators.
TraderSync is extremely customizable, both in its journaling functions and in its display screen. When you log in to TraderSync, the software provides an information summary in the primary control panel. You can sort all trades according to any of the platforms information categories and add filters best inside the control panel.
You can not change the axes for the evaluator plots. This would make it a bit much easier to dive into the data as it would allow you to outline one variable versus another. The way the evaluator module is currently set up, the plots can be somewhat tough to analyze once you begin including numerous information classifications.
TraderSync has a web user interface in addition to mobile apps for iOS and Android.
TraderSync provides flexible trade analysis for active traders that goes far beyond basic journaling. Trade keeps in mind play a bit part in this platform. Rather, the focus is on categorizable metadata like setup tags, mistake tags, day of the week, entry cost, market sector, and more. This data-centric method enables you to slice and dice your trade information to find strengths and weak points.
With the evaluator, you can compare the efficiency of different setups and integrate that with efficiency data by day of the week, entry volume, entry rate, and more. The resulting plot reveals the modification in your portfolio throughout mixes of variables based on performance in time..
Effectively, the trade management module lets you create a set of guidelines that you are trying to follow when trading. TraderSync will then instantly track whether you followed your own rules for your trades, both in the past and going forward in time. The software application will then plot all of your trades on top of an earnings and loss chart and use color-coding to determine which trades followed your plan and which trades broke some of the guidelines.
It would be possible to simulate the majority of TraderSyncs features using pivot tables in Excel or a comparable program. There are other trade journals out there, such as TraderVue and EdgeWonk, that offer helpful tools. There is a lot to be stated for TraderSyncs easy data visualizations and the truth that it also enables you to include notes and screenshots to your trades.
The trade management feature is only readily available to Elite customers. This feature is equivalent to the simulator however isnt as easy to use as a few of TraderSyncs other modules.
The critic and simulator modules allow you to dig into all of your trade data simultaneously, instead of looking at specific variables.
Paid TraderSync users can immediately import trade data from more than 100 brokers. If youre utilizing a mainstream United States broker, your possibilities are good that the platform supports it. Of course, you can constantly add trades by hand, too..
The simulator works similarly to the critic, other than that you can see how your earnings and loss would change by changing your trading habits. For example, you could see just how much your revenues would increase if you remove all trades that are tagged with a particular error. You can also see how your revenues would change if you just traded a particular subset of setups, or on certain days of the week.
What Type Of Trader Is TraderSync Best For?
With TraderSync you can not only make notes about trades, however you can also produce categories for setups and mistakes as well as see whether there are days, times, or types of trades that have actually been the most lucrative. The platform enables you to develop 2 sets of tags– one for trade setups and one for trade errors. The setup tag enables you to identify what your objective was when you went into a trade, while the mistakes tag uses an opportunity for reflection and to mark what went wrong with your lost trades.
Evaluator doesnt provide customizable axes.
Trade management module isnt really easy to use.
Paid plans are very costly.
Numerous functions can be replicated in Excel.
You can see your total profit and loss across all trades for each day of the week, your number of trades per day, and even the number of mistake tags youve included by day.
TraderSync is developed for day and swing traders who require a way to reflect on their trades and improve their win rate over time. Its up to individual traders to take benefit of the trade, simulator, and critic management modules and to play around with different trading habits changes.
Vast array of metadata tracked for each trade.
Endless setup and mistake tags.
Automatic import from 100+ brokers.
Examine how habits changes can impact P&L.
Fundamental trade journaling readily available for free.
The software application will then plot all of your trades on top of an earnings and loss chart and usage color-coding to determine which trades followed your strategy and which trades broke some of the guidelines.