Anyone can create promising trading strategies, but sticking to them is another thing. When emotions run high during trading, it’s easy to abandon your strategies in what seems like a good move.
Furthermore, if you’re making hundreds—or even thousands—of trades per month, it can be very hard to track what works and what doesn’t. Unfortunately, it’s impossible to correct bad trading habits if you have no way of identifying them.
That’s where TraderSync comes in! This online trading journal allows active traders to track their trading behavior and trading behavior, enabling them to identify the winning strategies.
With services offered for stock, FX, options, and futures trades, TraderSync seems to make it possible for anyone to optimize their trading strategy. So, what’s the catch? Let’s take a closer look and find out!
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External TraderSync Review & Ratings
|Facebook||4.7 from 12 reviews|
|Trustpilot||4.3 from 95 reviews|
Here are some reviews from traders who have experienced the platform firsthand:
“TraderSync has been a game changer for me. I particularly love the market replay feature. I’m constantly reviewing my trades looking to analyze if my executions were optimal or not, and being able to review the price action with level II included it is just next level.Cancelled my Tradingsim membership and now I just have one subscription with tradersync where I have the journaling app and the market replay.
Highly recommended to anyone out there looking to review their past trades.”
“I think Tradersync really excels at fluidity of UI and functionality it offers. I was amazed to see the amount of features they support. Really like their market replay feature which clearly tells you where did you buy and where did you sell. The replay function comes in really handy when your are reviewing your trades. The site is exceptionally responsive and fast, I don’t have to wait for my queries to process. Really look forward to what Tradersync has to offer in the longer run. I am thrilled to be part of the community.”
“Great platform for profit and loss accounting. I have been using the platform for more than a month and I am surprised by the ease of use. Very informative, clearly shows profit and loss. Perfectly sorts and helps to see the data to see your mistakes !! huge set. tools , ease of data entry and portfolio import from brokerage platforms . Highly recommended for both beginners and experienced investors.”
“I have been a Tradersync user for over 3 years and I love it. When I began my trading journey, I tried several journal platforms and landed on TS. The interface is elegant, easy to use, and gives me powerful insights to all my trades. Plus, I recently began using the Broker Sync feature which saves me the headache of exporting trades from my broker, then importing them into my journal. That gets me to my analyzation much quicker. The feature set, elegance, and price point make this journal a no-brainer for me.”
TraderSync is best for…
TraderSync is a platform primarily designed for traders who are constantly on the move and actively monitoring their trades across various platforms. Born out of a need to efficiently track and analyze trading patterns and performance, TraderSync ensures that users can dive deep into their trading history without the hassle of manual data input. With its capability to seamlessly fetch data from a plethora of financial markets and brokerages, trades are automatically logged into the journal the moment they’re executed.
But who exactly stands to gain the most from TraderSync? The spectrum is vast. From stock, options, futures, forex to crypto traders, this tool caters to a diverse audience. Whether you’re a swing trader, an active trader, or somewhere in between, there’s something in TraderSync for you. Its versatile feature set makes it nearly impossible to pin down a type of trader who wouldn’t reap the benefits of this journal.
Beginners, particularly, find TraderSync to be a fantastic option. As they navigate the tumultuous waters of trading, having a tool that points out early mistakes is crucial. This is more than just about correcting errors; it’s about understanding market dynamics and getting insights into where their analysis might have gone astray. The software’s built-in setups and mistake features are tailored for this purpose.
For experienced traders, the journey doesn’t get easier; it just becomes more familiar. Losses are part of the game, but the key lies in ensuring that the gains outweigh the setbacks. This is where TraderSync shines for advanced traders.
It serves as a mirror, reflecting back the strategies that worked and those that didn’t. More than just an analytic tool, it aids in refining techniques, ensuring that traders are always a step ahead, ready to maximize their wins.
In a nutshell, regardless of your trading style, TraderSync is the companion you didn’t know you needed.
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Pricing and Plans
Although TraderSync does offer a free plan, most users will find that this plan lacks the features they require. Below, we’ve provided a brief overview of the various plans (as well as the services they unlock).
This plan won’t cost you anything, but it’s missing most of the key features you’d use TraderSync for. To open a free TraderSync account, you will also need to open a Twitter account.
We recommend opening a new Twitter account (rather than using an existing one), as this account type requires you to share your trade journal via Tweets.
The free plan offers basic features, but doesn’t automatically import trades and it will always ask before sharing a trade, so you’ll never have to worry about unauthorized Tweets.
Nonetheless, since it doesn’t automatically import trades—and only provides support for stocks—this plan seems like more of a hindrance than a help.
A subscription to the “Pro” plan will set you back $29.95 per month. However, you get access to the majority of the platform’s services for this price.
The Pro plan includes a wide variety of features including your own trade journal (with automatic trade imports), trade charting, setups & mistakes tracking, and the ability to track multiple portfolios.
You’ll also be able to use the mobile app, view an overview of your accounts via the Dashboard, and have access to various report types. Currently, the Pro plan supports:
- Pricing report
- Volume reports
- Setup reports
- Mistake reports
- Weekly reports, and
- Hourly reports
A “Premium” plan subscription costs $49.95 per month and includes all of the features of the “Pro” plan. However, for the increased monthly expense, you’ll gain access to more advanced features.
Sector, market cap, evaluator, and simulator reports are included with the Premium plan. You’ll also be able to track your running PnL, which can help you instantly identify trading mistakes and adjust your trade setups to compensate.
At $79.95 per month, the “Elite” plan is the most expensive subscription currently offered by TraderSync. However, it’s also the only one to incorporate artificial intelligence into the available features! The AI offers a unique opportunity to improve your trading skills by offering AI-powered insights and assessments of your trades.
In addition to AI and the other aforementioned features, “Elite” also includes automatic target/stop losses tracking, automatic spread detection, “Stock Market Replay”, and trading management features.
TraderSync Features Overview
With a wide range of powerful features, TraderSync equips traders with the tools they need to gain valuable insights into their trading habits and strategies. Let’s take a closer look at some of the key features offered by TraderSync:
- Interactive Trade Charting: TraderSync allows you to track your entries and exit points using interactive charts. Intraday charting provides a minute-by-minute view of price action, helping you better understand your execution timing.
- Automatic Target and Stop Loss Tracking: The platform enables you to automatically chart targets and stop losses, providing a visual representation of your trade planning. You can also set rules to automatically apply targets and stop losses for each trade or add them manually.
- Trade Specific Analytics: TraderSync automatically tracks and displays trade-specific analytics, such as return per share/contract, overall return, risk, and more. This information helps you make informed decisions and fine-tune your trading strategy.
- Notes and Screenshots: You can take notes on each trade, reflecting on the reasons behind your decisions, and upload screenshots of your trading platform to recall the exact context of the trade.
- Share Trading Performance: TraderSync allows you to share your trading performance with mentors, friends, or the trading community, giving them access to your trade history, executions, and performance reports. Custom data sharing options enable you to control which details you share with others.
- Reporting and Filtering: With over 10 flexible reporting tools, TraderSync offers easy-to-digest reports that help you analyze your trading performance from various angles. The filtering feature allows you to refine your reports down to granular details, and drill-down reports provide deeper insights into specific report items.
- AI Feedback: TraderSync’s Artificial Intelligence (AI) engine analyzes your trading data for patterns and provides insights in a simple, easy-to-understand format. This AI-driven analysis helps you identify trends and areas for improvement in your trading strategy.
- Simulate New Trading Strategies: The platform allows you to simulate different trading scenarios based on your trading history, enabling you to test and refine your strategies before applying them to real trades.
- Worldwide Market Support: TraderSync supports any market for trade journaling, with the exception of trade charting, which is only for U.S. equities.
- Automatic and Accurate P/L Calculation: TraderSync calculates your profit/loss for each trade automatically and accurately, ensuring you have an up-to-date overview of your trading performance.
- Customizable Dashboard: With over 20 widgets available and an intuitive user interface, you can easily customize the TraderSync dashboard to display the data most relevant to you.
- Accessible From Any Device: TraderSync is fully optimized to work on any device, using responsive frontend technology to adapt to different screens and provide the best user experience.
- Trade Risk Tracking: Keep track of your stop losses for every trade and analyze whether you are following your ground rules for risk management.
- Real-Time Stats: TraderSync’s real-time trading performance indicator helps you understand your winning potential before placing a trade.
- Manual and Import Stock Entry Tracking: The platform supports both manual entry of stock trades and importing stock trades from your trading history, making it easy to keep your trading journal up-to-date.
TreaderSync Compatible Brokerages
TraderSync boasts an impressive range of compatibility when it comes to brokerages. For those investing in its paid version, you’ll find the ability to seamlessly import trade data from over 100 established brokers and cryptocurrency exchanges. This is particularly convenient for users affiliated with major US trading platforms, as TraderSync likely supports them.
Some of the notable brokerages include CMC Markets, eToro, Bookmap, E*Trade, Fidelity, JP Morgan Chase, MetaTrader 5, Morgan Stanley, Robinhood, TD Ameritrade, Webull, and Binance.
On the go? No problem. TraderSync ensures its users stay in the loop with a mobile app available for both iOS and Android devices. This means, whether at home or on the move, traders can keep a close eye on their activities and performances.
How To Import Trades To Tradersync
When you compare TraderSync to other digital trading journals, bringing in trades feels refreshingly uncomplicated.
Here’s a step-by-step guide:
- Start by accessing your brokerage platform, like ThinkorSwim.
- Navigate to your account summary.
- Ensure the overview includes details like execution, spread, side, symbol, and price. If they’re missing, you can usually adjust your settings to make them visible by default.
- Convert this data into a CSV format.
- Open the TraderSync interface.
- Choose the import option and select the respective broker for your trade information.
- Upload the broker’s CSV file, and it will record each of your trades.
- For further guidance, TraderSync provides instructional videos on its website and YouTube channel.
The Value of a Trading Journal
A trading journal serves as a powerful tool for traders who aim to improve their skills, enhance their decision-making processes, and ultimately, achieve better results in the market. This comprehensive record of your trading activity provides invaluable insights and analysis that can significantly impact your trading performance. Here are some of the key benefits of maintaining a trading journal:
- Accountability and Discipline: A trading journal holds you accountable for your trading decisions, encouraging you to stay disciplined and adhere to your trading plan. By consistently recording your trades, you are more likely to stick to your rules and avoid impulsive, emotionally-driven decisions.
- Identifying Strengths and Weaknesses: A trading journal allows you to spot patterns in your trading behavior, revealing both your strengths and weaknesses. By analyzing your trading data, you can identify the strategies that work best for you and the areas where you need improvement. This empowers you to make informed adjustments to your trading approach and eliminate bad habits.
- Performance Measurement: A trading journal enables you to objectively assess your trading performance over time. By tracking various metrics, such as win rate, risk-reward ratio, and average profit per trade, you can gauge your progress and determine whether your strategies are effective or require modification.
- Emotional Management: Documenting your emotions and thoughts alongside your trades can help you better understand the psychological aspects of trading. Recognizing the emotional triggers that lead to poor decisions enables you to develop techniques to manage these emotions, fostering a more rational and disciplined approach to future trades.
- Learning from Mistakes: A trading journal serves as a valuable resource for learning from past mistakes. By reviewing your losing trades and identifying the factors that contributed to the losses, you can make necessary adjustments to to your trade management to avoid repeating the same errors in the future.
- Continual Improvement: A trading journal promotes a mindset of continuous learning and development. By regularly reviewing and analyzing your trading activity, you can fine-tune your strategies, adjust your risk management to market conditions, and ultimately, grow as a trader.
A trading journal is an essential tool for any serious trader seeking to elevate their trading performance. By providing a comprehensive record of your trading activity, a trading journal offers insights and analysis that can lead to more informed decisions, improved discipline, and better results in the market.
TradingSync may claim to help you perfect your trading skills, but its primary purpose is to document your trades. How much can a platform that mainly serves as a trading journal really offer investors? Here are the key takeaways to remember about this platform.
- Automatic trade data imports with a paid trading plan
- Data is imported within 30 seconds
- Beyond documentation, TraderSyn also offers charting, backtesting, and AI-generated feedback features
- 7-day free trial is offered for all membership levels
- Profiles default to private, but you can also change it to a public profile to share trade results
- Platform doesn’t support making trades, only documenting them
- There is a free membership available, but it requires a Twitter account to use
- You must allow TraderSync to post Tweets about your trades to utilize a free account
Is TraderSync Right for You?
We think TraderSync is a worthwhile interactive trading journal if you’re willing to pay for the service. While a basic account may work for the occasional trader, needing to manually import trades for trading analysis is detrimental to swing and day traders alike.
However, a premium subscription for this online trading journal software offers many promising benefits. Aside from the Elite plan, the pricing plans are very affordable, and the ability to instantly track your trading activity—within 30 seconds—is an invaluable asset.
We also like that every plan (aside from the free plan) supports the tracking of multiple types of trades, not just stocks. This means the platform can give investors the trading edge in various types of trading, rather than being limited to more traditional trading scenarios.
We’ve covered most of the key features of this solid trading journal in this article, but if you’re still on the fence, we encourage you to test the platform out for yourself. Click here to start tracking trades and improving your trading skills with a free, seven-day trial!
Get Started With TraderSync