What To Know Before Signing Up To TraderSync – Features, Pricing And Competitors

Jeremy BiberdorfBy: Jeremy Biberdorf

December 15, 2023December 15, 2023

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In this TraderSync review, I will dive into what to know before signing up to TraderSync, a platform that addresses a common challenge in trading: adhering to strategies and recognizing habits. Creating effective trading strategies is one thing, but maintaining them, especially under the pressure of emotional trading, is quite another.

For active traders, especially those handling hundreds or thousands of trades monthly, tracking which strategies work and which don’t is crucial. Without a way to identify and correct bad trading habits, optimizing trading performance becomes difficult.

TraderSync serves as an online trading journal that allows traders to closely monitor their trading behaviors. It provides a comprehensive view of past trades, helping to determine what strategies are successful and which are not.

The journal’s ability to analyze every aspect of a trader’s history turns it into a powerful tool for enhancing trading strategies. It’s not just about making profitable trades; it’s also about learning from past mistakes to avoid unproductive ones.

Additionally, TraderSync supports a range of trading activities, including stock, FX, options, and futures trades, offering a versatile platform for various traders. An important feature is its compatibility with over 100 different brokerages, including well-known ones like TD Ameritrade and Robinhood, and its easy import feature for trade data. This integration makes TraderSync a potentially invaluable tool for traders seeking to refine their strategies and trading habits.

Keep reading to see why TraderSync is considered, by many, as the best trading journal.
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What to Know Before Signing up to TraderSync

I will get into all of the important details you need to know before making your decision to sign up, or not, to TraderSync. Let me start by giving you a brief overview of what TraderSync is:

What is TraderSync

Founded by David and Javier Olivares in 2014, TraderSync is an advanced trading journal and analytics platform. It’s designed to provide serious traders with the necessary tracking and reporting data to elevate their trading performance. TraderSync stands out with its user-friendly design and aesthetically pleasing interface, making it not only functional but also enjoyable to use.

TraderSync Features

Here are the features you should be aware of before signing up to TraderSync:

  • Trade Journaling: It acts as a central hub for tracking and recording trades, enabling future review and analysis. The journal’s customization modules allow for a personalized experience.
  • Trade Tagging: This feature helps you recall your goals for each trade and review any mistakes, aiding in refining your trading strategies.
  • Tracking Commissions and Fees: TraderSync simplifies tracking commissions and fees, either through automatic imports or manual entry.
  • Charting: The platform offers interactive charting, automatically annotating charts with entry points, exit points, and stop-loss levels.
  • Reporting: Depending on your membership plan, you can access various reports to analyze your trade data by criteria like market sector, entry price, and trading day.
  • Trade Sharing: It allows for sharing of trades and data, useful for feedback and learning from other traders.
  • Artificial Intelligence (AI) Feedback: At higher subscription tiers, TraderSync’s AI engine analyzes your trades and provides pattern-based insights to adjust your trading strategies.
  • Trade Management: Available for Elite traders, this feature helps develop trading plans and identify how well you adhere to them.
  • Evaluator and Simulator (Backtesting): These tools allow for backtesting your strategies using historical data to improve your trading tactics.
  • Video Tutorials: A library of tutorials is available to help users understand and utilize all the features of TraderSync.

TraderSync Limitations

TraderSync has a plethora of beneficial features, but it also has some limitations. Here are the main limitations I think you should be aware of before signing up to TraderSync:

  • Trade Execution Not Supported: TraderSync is solely for documenting trades and does not facilitate actual trading, requiring users to execute trades through a separate platform.
  • Twitter Account Requirement for Free Membership: To access the free membership, users must have a Twitter account and allow TraderSync to post tweets about their trades.

TraderSync Account Options And Pricing

When considering whether to sign up to anything, pricing matters. Here are the various account options available:

  • Free Account ($0): This basic version requires users to tweet about the service upon signup and periodically thereafter. It offers fundamental features but lacks automatic trade imports and supports only stocks.
  • Pro Account ($29.93/month): The Pro plan unlocks many of TraderSync’s capabilities, including tracking data, advanced charting features, a variety of reporting tools, a calendar, and customer support. It also allows automatic trade imports, setups and mistakes tracking, and multiple portfolio management.
  • Premium Account ($49.95/month): Building on the Pro plan, Premium introduces more advanced features like sector, market cap, evaluator, and simulator reports, and running PnL tracking for instant identification of trading mistakes.
  • Elite Account ($79.95/month): The Elite plan encompasses everything in the Premium plan and adds unique features like AI insights and assessments, automatic target and stop-loss tracking, automatic spread detection, Stock Market Replay, and trading management features.

TraderSync Alternatives

In order to perform proper due diligence before signing up to TraderSync, you should be aware of the alternatives available to you. One viable competitor is TradeZella. TradeZella has a simple design with all the key features beginners love. Check out my TradeZella vs TraderSync article if you want to see how the two stack up.

If you are a budget-minded trader that wants a free tool, TraderVue is a popular choice. TraderVue allows you to track up to 30 trades per month with their free plan. If this fits your trading style, it might be worth taking a look at this TraderSync vs TraderVue comparison.

Final Thoughts

Summarizing “What to know before signing up to TraderSync,” it’s evident that this platform is a robust choice for traders seeking a comprehensive and user-friendly trading journal. With its tiered pricing structure, TraderSync caters to a variety of trading needs, from the basic functionalities of the Free plan to the advanced AI-driven insights of the Elite plan.

Whether you’re a newcomer or an experienced trader, TraderSync offers the tools and analytics to help refine your strategies and improve your trading performance. For those ready to elevate their trading journey with an intuitive and insightful tool, Click Here to explore more about TraderSync and embark on a more informed and strategic trading path.

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Jeremy Biberdorf
Jeremy Biberdorf

About the Author:

Jeremy Biberdorf is the founder of Modest Money. He's a father of 2 beautiful girls, a dog owner, a long-time online entrepreneur and an investing enthusiast.

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