TraderSync Review 2024

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 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!

What is TraderSync?

TraderSync is more than just an online trading journal – it is a comprehensive platform designed to elevate a trader’s performance by tracking, analyzing, and optimizing trading strategies. The platform stands out for its fully automated trade history imports and AI-powered insights, making it a powerful tool for a range of trading activities.

• Automated Trade History Imports: TraderSync simplifies the process of logging trades by allowing automatic imports from over 900 brokers, exchanges, and trading applications. This feature saves time and ensures accuracy in trade recording.
• Extensive Reporting Capabilities: The platform offers in-depth reporting tools that enable traders to analyze their performance across various metrics. These reports help in identifying successful strategies and areas for improvement.
• AI Insights: TraderSync’s AI algorithms provide personalized feedback on trading patterns, helping traders identify their strengths and weaknesses. This feature is instrumental in developing more effective trading strategies.
• Market Replay Function: A standout feature of TraderSync is its ability to replay trades tick by tick. This allows traders to review their decisions in the context of market movements, providing insights into how different strategies might have played out.

External TraderSync Reviews & Ratings

Site	Rating
Benzinga	5
Trading Reviewers	5
Trustpilot
Facebook	4.7 from 12 reviews

Firsthand User Experience with TraderSync

Here are some reviews from traders who have experienced the platform firsthand:

TraderSync Review Videos

TraderSync is best for…

TraderSync is an ideal platform for various types of traders who are keen on improving their trading performance through detailed analysis and insights. The platform is particularly beneficial for:

• Active Day Traders: TraderSync’s real-time analysis and automatic trade import features make it perfect for day traders who need to track and analyze a high volume of trades quickly and efficiently.
• Swing Traders: The platform’s comprehensive reporting tools and pattern recognition capabilities help swing traders understand the effectiveness of their longer-term strategies.
• Options and Futures Traders: With support for a wide range of markets, including options and futures, TraderSync caters to traders who diversify their portfolios across different instruments.
• Cryptocurrency Enthusiasts: For those trading in the volatile crypto market, TraderSync’s AI insights and market replay features can provide valuable analysis to navigate the complexities of cryptocurrency trading.
• Beginners Seeking to Learn: The platform’s intuitive interface and detailed analytics make it a great tool for beginners who want to understand their trading habits and learn from their experiences.
• Experienced Traders Focusing on Strategy Refinement: For seasoned traders, the depth of analysis and AI-driven insights offer a way to fine-tune strategies and improve decision-making processes.

In essence, TraderSync serves as a comprehensive tool for any trader committed to a data-driven approach to enhance their trading strategies and performance.

Reviewing Pricing and Plans

TraderSync’s pricing structure caters to a wide range of traders, starting with a free basic plan ideal for newcomers. For those requiring more sophisticated features, the Pro plan at $29.95 per month includes automated trade imports, trade charting, and more.

The Premium plan, priced at $49.95 per month, expands on the Pro offerings with advanced reporting tools and profit and loss tracking. At the top tier, the Elite plan for $79.95 per month integrates AI insights, providing a cutting-edge approach to trade analysis.

Each tier is thoughtfully designed to align with the diverse needs and goals of traders, making TraderSync a versatile choice for a wide spectrum of trading activities.

Free

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.

I 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.

Pro

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 reports
• Volume reports
• Setup reports
• Mistake reports
• Weekly reports, and
• Hourly reports

Premium

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.

Elite

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 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.

The Role of AI in TraderSync

TraderSync’s integration of Artificial Intelligence (AI) significantly enhances the platform’s capabilities, offering a sophisticated layer of analysis for traders. The AI component in TraderSync is particularly evident in the Elite plan, which employs AI algorithms to analyze trade data, offering personalized insights and actionable feedback. This AI-driven analysis is pivotal for traders looking to refine their strategies and gain a competitive edge in the market.

AI in TraderSync serves multiple purposes. Firstly, it assists in identifying patterns and trends in a trader’s behavior that might not be immediately apparent. This includes uncovering habitual mistakes, preferred trading conditions, and successful setups. Such insights are invaluable in helping traders understand their unique trading style and make data-driven decisions to improve their performance.

Furthermore, TraderSync’s AI can simulate various trading scenarios based on historical data, enabling traders to test potential strategies before implementing them in real trading conditions. This predictive analysis helps in fine-tuning strategies, managing risk more effectively, and increasing the probability of successful trades.

The AI in TraderSync also aids in enhancing trade efficiency. It analyzes trades for optimal entry and exit points, evaluates risk-reward ratios, and provides feedback on trade management. This level of detailed analysis is akin to having a personal trading coach, guiding traders towards more informed and strategic decisions.

Key Takeaways

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.

Benefits

• 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

Drawbacks

• 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

Seamless Trade Data Management

TraderSync’s integration with over 900 brokers, exchanges, and trading applications streamlines the process of trade data management for traders. By enabling automatic imports of trade history, the platform eliminates the need for manual data entry, reducing the risk of errors and ensuring accuracy in trade recording.

Traders can simply connect their accounts from supported brokers and exchanges, and TraderSync will handle the rest, seamlessly importing trade data in real time.

Key Features of Seamless Trade Data Management

• Automated Trade History Imports: Traders can save time by automating trade history imports from supported brokers and exchanges.
• Accuracy and Reliability: Automated imports ensure accurate and reliable trade data storage for thorough analysis.
• Real-time Updates: TraderSync provides real-time updates of trade data for prompt reaction to market changes.
• Seamless Integration: The platform seamlessly integrates with various brokers, exchanges, and trading applications for easy connection.

Advanced Reporting and Analytics

TraderSync empowers traders with advanced reporting and analytics capabilities, enabling them to gain valuable insights into their trading performance. The platform offers a comprehensive suite of reporting tools that allow traders to analyze various metrics, identify successful strategies, and pinpoint areas for improvement.

With customizable reports and drill-down functionality, TraderSync provides traders with the flexibility to tailor their analysis to their specific needs and preferences.

In-Depth Reporting Capabilities

TraderSync’s reporting capabilities cover a wide range of metrics, including win rate, risk-reward ratio, average profit per trade, and more. Traders can generate detailed reports that provide a comprehensive overview of their trading activity, allowing them to assess their performance from multiple perspectives.

Customizable Reports

Traders can customize their reports to focus on specific aspects of their trading activity, such as trade frequency, instrument types, or timeframes. With customizable filters and parameters, traders can refine their reports to extract the most relevant insights and identify trends that may impact their trading strategies.

Drill-Down Functionality

TraderSync’s drill-down functionality enables traders to dive deeper into their reports and analyze individual trades in greater detail. By drilling down into specific data points, traders can identify patterns, anomalies, and outliers that may require further investigation, helping them refine their strategies and improve their performance over time.

Actionable Insights

The platform’s reporting and analytics tools provide actionable insights that traders can use to optimize their trading strategies and decision-making processes. Whether it’s identifying profitable trading patterns or recognizing areas for improvement, TraderSync equips traders with the information they need to make informed decisions and achieve their trading goals.

Enhanced Learning and Development

TraderSync serves as a powerful tool for learning and development, offering traders the opportunity to improve their skills and refine their strategies. With its advanced features and AI-driven insights, TraderSync enables traders to gain valuable knowledge from their trading experiences and apply it to future trades. By fostering a culture of continuous learning and improvement, TraderSync empowers traders to achieve better results in the market.

AI-Driven Insights

TraderSync’s AI algorithms analyze trading data for patterns and trends, providing traders with personalized insights into their trading behavior. These insights help traders identify their strengths and weaknesses, understand their trading style, and make data-driven decisions to improve their performance.

Simulation and Testing

TraderSync allows traders to simulate different trading scenarios based on historical data, enabling them to test and refine their strategies before applying them to real trades. By experimenting with different approaches in a risk-free environment, traders can gain valuable experience and confidence in their trading abilities.

Educational Resources

In addition to its advanced features, TraderSync offers educational resources and support to help traders enhance their skills and knowledge. From instructional videos to live webinars, TraderSync provides traders with access to valuable insights and expert guidance to support their learning and development journey.

Community Engagement

TraderSync fosters a sense of community among traders, enabling them to share ideas, insights, and experiences. Through forums, discussion groups, and social media channels, traders can connect with like-minded individuals, exchange information, and learn from each other’s successes and challenges.

Comprehensive Trade Charting

TraderSync’s comprehensive trade charting capabilities provide traders with powerful tools for analyzing their trades and identifying opportunities for improvement. With interactive charts, automatic target and stop loss tracking, and trade-specific analytics, TraderSync empowers traders to make informed decisions and optimize their trading strategies.

Interactive Charts

TraderSync’s interactive charts allow traders to track their entries and exit points with precision, providing a visual representation of their trading activity. By analyzing price action and market trends, traders can identify potential entry and exit points, helping them make more informed decisions.

Automatic Target and Stop Loss Tracking

TraderSync enables traders to automatically chart targets and stop losses, providing a visual representation of their trade planning. Traders can set rules to automatically apply targets and stop losses for each trade or add them manually, ensuring consistency and discipline in their trading approach.

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 traders understand the performance of individual trades and identify areas for improvement, enabling them to refine their strategies and achieve better results over time.

Notes and Screenshots

Traders can take notes on each trade and upload screenshots of their trading platform to recall the exact context of the trade. This feature allows traders to document their thought processes and decision-making criteria, facilitating reflection and learning from past trades.

Share Trading Performance

TraderSync allows traders to share their trading performance with mentors, friends, or the trading community, giving them access to their trade history, executions, and performance reports. By sharing their experiences and insights, traders can contribute to a collaborative learning environment and receive feedback from others.

Learning Curve for Optimal Usage

Although TraderSync provides robust features and capabilities, some users may experience a learning curve when first using the platform. Maximizing the benefits of TraderSync’s advanced reporting, analytics, and AI insights may require time and effort to fully understand and utilize effectively.

Traders who are new to the platform may need to invest additional time in exploring its features and experimenting with different strategies to optimize their trading performance.

No Refund Policy

One potential downside of TraderSync is its lack of a refund policy. Traders who subscribe to a paid plan and are unsatisfied with the platform’s features or performance may not be eligible for a refund. This lack of flexibility could be a concern for traders who are hesitant to commit to a subscription without the option to receive a refund if the platform does not meet their expectations.

Comparing TraderSync with Other Trading Journals

TraderSync holds its ground when compared with other leading trading journals like Tradervue and Edgewonk. Each platform has its strengths, catering to different aspects of trade analysis and journaling.

• Tradervue: Known for its detailed trade analysis and community insights, Tradervue offers traders the ability to share and discuss trades with a community, providing a collaborative learning environment. I have a full Tradervue review if you are interested in learning more.

  Also see our full Tradersync vs Tradervue comparison

• Edgewonk: This platform focuses on emotional and behavioral analysis of trading, helping traders understand the psychological aspects of their trading decisions. Learn more about Edgewonk here.

Read our full Tradersync vs Edgewonk comparison.

Each of these platforms, including TraderSync, has unique features that cater to the specific needs of traders, whether it’s detailed analytics, emotional tracking, or community engagement. The choice depends on the individual trader’s requirements and preferences.

Is TraderSync Right for You?

I 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.

I 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.

I’ve covered most of the key features of this solid trading journal in this article, but if you’re still on the fence, I 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!

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