Our number one goal is to make you a more profitable trader. This is achieved by offering a structured approach to your trade planning and position sizing/risk management as well as an easy-to-use way of journaling your trades making reviewing and learning from previous trades an integral part of your trading routine.
Most of our trading losses coming from a set of trading mistakes. Once you have analyzed the patterns to identify which trading mistakes are making you lose money, you can focus on ensuring you avoid them on your next trading day.
Unlike any other market replay, you can make use of our inbuilt screeners, level II, times and sales, charting and your trades will be automatically synced with your trading journal allowing you to analyze your performance.
A well-kept trading journal is a must-have tool for the professional trader, as well as for the novice trader who deals in equities, bonds, and options as a business. A trading journal helps you to have all your trading data at your fingertips, for the purposes of:
Additionally, you can use the journal to summarize the outcome of each of your trades for future reference. This way you can learn from your successes and failures. Further, a journal helps keep track of your performance and raises a red flag when you start deviating from your original trading plan.
There are many types of software-based trading journals available in the market today. Many traders, however, prefer using a simple spreadsheet to record the details for each of their positions. A typical trading journal records the following data, at a minimum:
A more advanced journal might also include pertinent details about each position, such as individual option prices and position greeks. A manual journal has its merits, too, since it allows you to record your psychological observations on each trade, such as how confident you were when making the trade and how you felt as you managed the trade and eventually exited your position.
Adding trades to a trading journal is the easiest part of recording your trades, since it simply involves entering figures in the appropriate columns of your spreadsheet and typically takes a matter of seconds. But, describing your trade is usually not as easy or straightforward. Once you hammer in your actual trades, you also need to record the following information:
Using a trading journal is one of the most underutilized tools by beginner stock traders. Recapping trades to break down what went right or wrong will help you learn from your successes and mistakes.
In this guide, I will break down the best trading journal apps available today for analyzing stocks, options, futures, forex, and cryptocurrency trades. I'll also cover some tips for success with examples from my personal trading for those who are new to journaling their trades.
Tradervue was one of the very first trading journals to come online and remains a reliable resource for traders. It isn't the easiest to use, but it offers excellent trade import support and unique charting features.
While not a fully fledged trading journal, the Power E*TRADE platform offers what I have found to be the best trading simulator of any online broker, making it a unique resource for traders practicing their trades.
As the head of research for StockBrokers.com, I have spent thousands of hours testing online trading platforms. Hands down, Power E*TRADE offers the best trade simulator I have ever used. With streaming data, a fully featured trading journal for notes, and seamless order entry, Power E*TRADE is terrific for both beginners and fully experienced traders looking to tune their trading strategies. Available only to U.S. residents, E*TRADE requires no minimum deposit and the platform is immediately available to use. Naturally, E*TRADE wants to earn your business so you fund the account and use the brokerage for your $0 stocks and options trading. See also: best online stock brokers
Built for active traders, Chartlog's \"Lite\" plan provides unlimited trade uploads, accounts (30-day history limit), and dynamic charts, while the pro plan brings in strategy analysis, insights, pre/post-market data, and a few other premium features. Although there are dozens of brokers apparently \"coming soon,\" Chartlog currently only supports a handful of big-name brokers and trading platforms such as Interactive Brokers, TD Ameritrade, TradeStation and Webull. Chartlog can automatically sync with a couple of brokers, TD Ameritrade included. That makes journaling a breeze. While there aren't as many features as on TraderSync, the crisp user interface and ease of use make Chartlog a viable option, provided you only want to import stock, ETFs and options trades One word of caution, though: the company is very small and customer support seems to be a problem. A colleague of mine waited 19 hours for answers to routine questions.
Edgewonk is a downloadable trading journal software offers a pretty deep analysis of your trades. There are rich customization possibilities once you enter detailed notes and tags for each trade and a backtesting tool. Unfortunately, the broker import tool support is nearly nonexistent for U.S.-based stock traders and is instead focused primarily on a handful of popular forex brokers and platforms like MetaTrader4 (MT4). Multicurrency traders will appreciate profits and losses calculated in both the foreign and the home currency.
Trading journals provide you with an easy way to figure out what went right and what went wrong, and look back at your trade history. There is simply no better way to improve over time. Technical analysts have been using stock trading journals for decades.
Any good trading journal will allow you to filter performance by tag to view your biggest winners and losers. By looking back every so often, you can identify areas of improvement and tweak your trade rules for that strategy.
Despite the blow to my pride, without tagging my trades and using a trading journal, I never would have been able to determine day trading wasn't right for me. And, even better, thanks to the tagging and strategy honing, I learned a lot about myself as a trader.
NOTE: Nowadays, trade commissions are far less prevalent as most online stock brokers offer $0 stock trades. That said, there are other costs that come into play that traders should track, including any market research subscriptions, data feeds, or other trading tools.
In his book Trade Your Way to Financial Freedom, Van Tharp advocates finding the right strategy for you. The more you test different strategies and learn about yourself, the more successful you will be over time. For me, day trading just isn't the right fit.
Blain Reinkensmeyer (founder of StockTrader.com) has more than 20 years of trading experience with over 2,500 trades placed during that time. Referenced as a leading expert on the U.S. online brokerage industry, Blain has been quoted in the WSJ, New York Times, Fast Company, the Chicago Tribune, and other media outlets.
Disclaimer: While StockTrader.com makes a reasonable effort to keep any listed information updated, it does not and cannot guarantee the accuracy or applicability of any information in regard to your individual circumstances. StockTrader.com is not an investment advisory service, or a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities customers should buy or sell for themselves. The analysts and employees or affiliates of StockTrader.com may hold positions in the stocks or industries discussed within the Website. You understand and acknowledge that there is a very high degree of risk involved in trading securities. Past performance is not indicative of future returns.
Be ahead of the market by analyzing trends in options buying and selling for all optionable US stocks/ETFs and indices. Visualize the bullish/bearish flow, divergences and even scan for profitable options to trade.Don't just follow the smart money. Become one by learning the pulse of the market using in-depth advanced options flow analysis every day. With this, you can not only journal your options trades with lot of context data, but also get new trade ideas on how to manage your position and start new ones.
Don't just anlayze your trades. Practice them and replay them - on any timeframe and on any date historically. The only trading journal where you can practice intrdaday scalping and any trading style on all US stocks, futures and forex symbols.All trading simulator charts are from TradingView so you can also add your favourite indicators and manage orders visually using movable stop losses and profit targets to simulate a real trading as close as possible.
Have you ever wondered how an option trade would have turned out Have you seen your options spread trade's price plotted on a chartAll of this is possible with TradesViz's advanced options backtester. Choose any symbol, any strike, any expiry. Build your own strategy with multiple legs, define a entry and exit price andlearn exactly how the option trade as a whole would have changed in price in correlation with an underlying chart.TradesViz is not just a journal for analyzing your options trades, but also to learn and plan ahead!
Trade on your own terms with Tradier. As a TradesViz user, you can get 100% commissions free stock and options trading on Tradier and even stand to gain free TradesViz subscription. Our unique partnership has allowed us to provide traders with the best of both world: Cost-free trading and state of the art analysis.Trade from within TradesViz or use any of the Tradier supported platforms to make your trades and automatically sync your trades to your TradesViz journal.
I've subscribed, at different times, to various reporting programs, and trialed several others.Yours is night and day over them all. I particularly appreciate the degree of available customization and your quick, ever-patient response to support requests.I have a small trading account. Thank you for offering such a sophisticated program at an affordable price. 153554b96e