Trademetria Review 2023
|By: Jeremy Biberdorf||Dec 20, 2022|
In a nutshell: Trademetria is an online trading journal designed to help swing/day traders organize and analyze their trade history.
Trademetria has a lot of features that may entice traders to test the platform like a portfolio tracker, back tester and goal tracking.
Keep reading our Trademetria review to learn how this online trading journal could help you improve your trading tactics.
|$0-$39.95 per month||Online trading journal||Free trial|
- Designed for day/swing traders
- Many free features
- Clean visual interface
- No desktop app
- “Basic” only supports one account
Compare to Other Investment Platforms:
Fees$0-$39.95 per month
Service TypeOnline trading journal
Service TypeOnline trading journal
Fees$0 - $49/mo
Favorite FeatureRisk analysis reports
These days, active traders have a wide variety of trade analyzer software available at their fingertips. The available features vary from platform to platform: whereas some only offer a trading journal, others offer more complex tracking & charting software for traders.
Although this type of service is especially useful for active traders (such as a day trader), long-term investors can utilize it as well. After all, it’s hard to optimize your trading strategy if you haven’t taken the time to analyze it!
Whether you’re looking to identify your profit factor, track your trade history, or simply analyze your trading performance, Trademetria is one of the tools you can use.
Is it the only tool you should use? Let’s find out!
Trademetria is best for…
The non-professional trader who wants to track their trades per month (along with other key metric data).
Offering an all-in-one trading journal, customizable charts, support for multiple asset types, and a portfolio tracker, Trademetria is a user friendly option that is perfect for the average investor.
However, the software may be a bit lacking for trading firms hoping to automate their trading business. While the “Pro” plan does allow for unlimited trade imports, none of the plans allow you to completely automate the import process.
Pricing and Plans
One of the unique things about Trademetria is that the free plan actually provides the majority of features that subscribers would be interested in. This makes it instantly appealing to thousands of traders, particularly those who don’t want to spend extra on trade journal software.
The free subscription won’t cost you anything, but it does impose a few limitations. Since there are more features than limitations, we’ll begin by discussing the features you can’t use with a free account.
Free accounts only support a single account, have access to three delayed quotes per month, and are limited to three order imports per month. You’ll only be able to import data from a single trading platform, making this plan essentially useless if you practice trading strategies across multiple brokerages.
Despite these few limitations, the free plan does offer quite a few trade tracking & risk analysis features. For starters, it supports all of the asset types that can be tracked on the website (stocks, options, futures, equities, forex, CFDs, and cryptocurrency).
It also provides an individual journal for taking notes about your trading strategies, historical performance, key metrics, an analytics dashboard, and portfolio tracking, among other useful features.
The Basic plan—which costs $29.95 per month—still only allows you to track a single account, but it raises your order import limit to 100 per month and offers unlimited delayed quotes.
It includes all of the features from the free plan but unlocks nine more advanced features. You’ll receive access to Api functionality, the Pnl simulator, watch lists, instrument rankings, strategy rankings, and fundamental research when subscribed to the Basic plan.
Additionally, you’ll also be able to use the “Distribution by Time” feature, the “Distribution by Market Condition” function, and export your trades from the platform.
The Pro plan doesn’t unlock any new features, despite costing $39.95 per month. However, it does remove the limitations on the number of order imports and delayed quotes you can use monthly.
The biggest benefit of subscribing to the Pro plan is that it allows you to track up to fifty accounts using your account. This is extremely useful for day and swing traders, who can track individual trades from multiple brokerages using a single interface.
- Customizable Dashboard Widgets: Trademetria allows users to personalize their dashboard with various widgets to focus on the most relevant information for their trading strategies and performance. This customization ensures a tailored user experience that can adapt to individual preferences.
- Trading Gamification: The platform introduces the concept of trading challenges or combines, which helps traders set goals, maintain motivation, and improve discipline. Users can create their own challenges, track progress, and even share them with fellow traders for accountability and support.
- Pie Charts for Asset Allocation: Trademetria offers a visual representation of your portfolio allocations through pie charts, showcasing asset class distribution and trade types (long/short). This feature allows users to quickly assess their investment diversification and make any necessary adjustments.
- Comprehensive Fundamental Research: The platform provides access to extensive financial information, earnings dates, charts, and company profiles from over 20 global exchanges, making it easier for traders to conduct thorough research and make informed decisions.
- Trusted by Thousands: Trademetria supports more than 140 brokers and platforms worldwide, making it a reliable and versatile tool for traders across various markets and trading styles.
- Advanced Metrics: The platform offers valuable metrics like profit factor, expectancy, r-multiples, win rate, holding times, and more than 20 other trading-related metrics. These key indicators can help users better understand their trading performance and identify areas for improvement.
These features contribute to Trademetria’s overall appeal as an all-in-one trading journal software, suitable for traders and investors with varying levels of experience and market interests.
Importing Trades into Trademetria
Trademetria offers a variety of methods to import your trades into the platform. This flexibility allows you to choose the method that best suits your trading style and broker. Here’s a brief overview of the different methods available:
If you only have a few trades to record, or if you prefer to enter your trades manually for any reason, Trademetria allows you to do so. You can input all the necessary details about each trade, such as the ticker, the number of shares, the entry and exit prices, and the date and time of the trade.
If you have a large number of trades to import, entering them manually might be impractical. In this case, you can use the Template CSV method. You’ll need to format your trades in a CSV file according to the template provided by Trademetria, and then upload that file to the platform.
Some brokers provide a CSV file that contains all your trades. Trademetria can import these files directly, saving you the trouble of reformatting your trades to match the Template CSV. However, the exact process might vary depending on the broker, so be sure to check the specific instructions for your broker.
Auto Sync via API
For the ultimate in convenience, Trademetria supports automatic synchronization with a number of brokers via API. This means that your trades are imported into Trademetria automatically, without any action required on your part. The brokers supported for auto-sync are Alpaca, Binance, Bitmex, Ftx, Interactive Brokers, Kraken, Kucoin, Meta Trader 5, Questrade, ThinkorSwim (Cash Balance), Tradestation via Client Center, and Tradier.
To use the auto-sync feature, you’ll need to set up an API connection between Trademetria and your broker. The exact process will depend on the broker, but generally involves generating an API key from your broker’s platform and entering it into Trademetria. Once the connection is set up, your trades should start appearing in Trademetria automatically.
Even a basic text editing app will allow you to create journal entries, but Trademetria has so much more to offer when it comes to tracking your trade history. While most of what we’ve seen of the platform has been positive, it does have a few shortcomings.
Here are our key takeaways from the platform.
- Provides an all-in-one trading journal, tracker, and analyzing solution
- Supports a wide variety of asset types including stocks, Forex, equities, options, futures, cryptocurrencies, and CFDs
- Affordable pricing across all plans
- Support up to 50 accounts (Pro plan only)
- Grants users unlimited trade imports (Pro plan only)
- Free & basic plans can only track one account
- Doesn’t offer a mobile app
Benefits of a Trading Journal
A trading journal is an essential tool for both novice and experienced traders. By systematically recording and analyzing all aspects of your trades, a trading journal provides valuable insights and helps improve trading performance. In this section, we will discuss the key benefits of maintaining a trading journal.
- Enhances Self-Awareness: A trading journal enables you to review your thought processes, emotions, and actions before, during, and after each trade. This heightened self-awareness allows you to identify both your strengths and weaknesses, helping you develop a better understanding of your trading habits and tendencies.
- Improves Decision-Making: By tracking your trading decisions and their outcomes, you can identify patterns and trends in your decision-making process. This helps you make more informed choices in the future, reducing impulsive decisions and increasing the likelihood of successful trades.
- Develops Discipline and Consistency: Recording each trade in a journal requires commitment and consistency. This practice fosters discipline, which is crucial for long-term success in trading. A disciplined approach ensures that you adhere to your trading plan, manage risks effectively, and maintain emotional control.
- Facilitates Performance Analysis: A well-maintained trading journal allows you to analyze your performance based on various metrics and parameters. This data-driven approach enables you to identify what works, what doesn’t, and areas that require improvement. Consequently, you can refine your trading strategies and optimize your performance.
- Helps Manage Risk: By analyzing your past trades, a trading journal can help you identify instances of excessive risk-taking or poor risk management. This awareness enables you to adjust your trading strategies, set appropriate stop-losses, and better manage your overall risk exposure.
- Encourages Accountability: A trading journal keeps you accountable for your actions and decisions. By reviewing your journal regularly, you can learn from your mistakes and successes, which is essential for continuous improvement and long-term growth as a trader.
- Accelerates Learning: A trading journal can serve as a valuable educational resource, allowing you to learn from your own experiences and develop a deeper understanding of market dynamics, trading strategies, and risk management techniques.
- Tracks Progress: A trading journal helps you monitor your progress over time. By comparing your current performance to your past performance, you can assess whether you are moving in the right direction and making progress towards your trading goals.
Is Trademetria Right for You?
Trademetria is an excellent platform for beginner and experienced traders alike. It offers a wide range of trade tracking features for free, making the service accessible to everyone (regardless of their budget).
The free version of Trademetria has a lot to offer (and the Pro version enables experienced traders to track up to 50 accounts concurrently!). If you’re interested in giving this unique trading journal software a try, click here to claim an exclusive free trial offer!