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!
TraderSync is best for…
Active traders who want to monitor their personal trades on various trading platforms. Allowing traders to track their trading strategies, trading patterns, and overall trading performance, TraderSync makes it easy to analyze your trading history.
Traders can pull data from various financial markets and brokerages using this complete trading journal software. This completely eliminates the need to manually enter data, as trade data is automatically imported once a trade is made.
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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 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.
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