Embarking on a buying and selling journey will be each exhilarating and daunting, particularly when discovering a dependable method that constantly delivers outcomes.
It’s not nearly devising a strong buying and selling technique; sustaining self-discipline and monitoring progress are equally essential.
Nonetheless, monitoring numerous trades and figuring out the best strategies will be overwhelming. TraderSync is a promising possibility among the many myriad buying and selling software program obtainable.
On this overview, we are going to dive deep into the options, professionals, and potential drawbacks of TraderSync to find out if it’s a worthwhile software for day merchants.
We are going to consider its user-friendliness, information analytics capabilities, and buying and selling journal functionalities, evaluating it to different in style buying and selling platforms.
By the tip of this TraderSync overview, you’ll have a complete understanding of whether or not TraderSync is the proper companion to your day buying and selling journey or if you happen to ought to proceed looking for a better-suited different.
What’s TraderSync?
TraderSync is a buying and selling journal that helps you analyze your earlier trades. It’s not simply your common buying and selling journal; this software enables you to dive deep into your previous trades and analyze them.
As a substitute of simply jotting down notes about your trades, you may create classes for various commerce setups and blunders.
This helps you shortly work out which days, instances, or commerce sorts make you probably the most cash.
You may even calculate how your earnings and losses would possibly shift if you happen to observe a sure buying and selling technique or ditch a selected error.
Options of TraderSync
TradingSync says it’s all about serving to you enhance your buying and selling expertise, but it surely’s primarily a software to maintain observe of your trades.
So, you could be questioning how a lot a buying and selling journal-focused platform can convey to the desk for buyers, proper? Nicely, let me break down a number of the fundamental options for you.
1) Buying and selling Journal
TraderSync has all of the necessities you’d need from a web based buying and selling journal. You may write notes for every commerce, take screenshots of value charts, and connect them to your notes.
It routinely marks your charts with entry and exit factors and retains observe of particulars like cease loss or value goal ranges.
2) Tagging Setups and Errors
Right here’s one thing distinctive about TraderSync – it enables you to create tags for commerce setups and errors. The setup tags make it easier to bear in mind your targets once you enter a commerce, whereas the error tags allow you to replicate on what went flawed in these not-so-great trades.
3) Evaluator and Simulator
These two options allow you to analyze your commerce information, not simply particular person points. The evaluator helps you evaluate setups and different components just like the day of the week, entry quantity, and entry value.
The outcome? A plot displaying how your portfolio modified over time based mostly on numerous variable combos.
4) Commerce Administration
Accessible solely to Elite subscribers, this characteristic is just like the simulator, but it surely’s not as user-friendly as different TraderSync instruments.
Commerce administration enables you to create guidelines to observe when buying and selling, after which the platform tracks if you happen to’ve caught to these guidelines.
It even plots all of your trades on a revenue and loss chart, color-coding them to indicate which of them adopted your plan and broke the foundations.
5) Knowledge Experiences
TraderSync doesn’t simply observe your trades based mostly on setups and wins or losses. It additionally gathers a ton of metadata, just like the day of the week, the hour of the commerce, the market sector, and the quantity traded. You should utilize this information to guage your buying and selling efficiency.
6) Customization and Format
TraderSync is well customizable. You may tweak each the reporting instruments and the show. Once you log in, the principle dashboard offers you an information overview, and you’ll type and filter your trades utilizing the platform’s information classes proper from the dashboard.
TraderSync Pricing
Alright, let’s take a look at what the pricing is like right here. TraderSync has 4 totally different plans for merchants to select from.
1) Free plan
The free plan is free however solely offers you entry to probably the most fundamental options.
You may tag setups and errors, however you’ve acquired to enter all of your trades manually. And actually, the evaluation instruments are sort of restricted.
You’ll additionally want to attach your Twitter account and let TraderSync put up everytime you shut a commerce – only a heads up.
2) Professional plan
They’ve the Professional plan, which prices $29.95 a month or $312 a yr. It’s acquired some neat options like automated commerce imports from most platforms.
This lets you observe your revenue and loss utilizing numerous variables and hold tabs on commissions and costs.
3) Premium plan
The Premium plan is $49.95 a month or $521 a yr if you need much more. With this plan, you get the evaluator and simulator options.
Each options allow you to dive deeper into your buying and selling information and see how your earnings and losses would possibly change if you happen to tweak your buying and selling habits.
4) Elite plan
The Elite plan will price you $79.95 a month or $834 a yr. This plan comes with commerce administration, permitting you to create rules-based buying and selling plans.
Plus, you get AI-powered information insights and the flexibility to set automated cease loss and revenue goal ranges to your trades.
The Professional, Premium, and Elite plan supply a 7-day free trial. And, excellent news – TraderSync works with numerous monetary markets like shares, choices, futures, and foreign exchange.
Execs of TraderSync
- Auto-import of commerce information with paid plans
- Knowledge imported in simply 30 seconds
- Provides charting, backtesting, and AI suggestions options
- 7-day free trial for all membership ranges
- Non-public profiles by default, an choice to go public
Cons of TraderSync
- Just for documenting trades, not making them
- Free membership wants a Twitter account
- TraderSync posts tweets about your trades without cost accounts
TraderSync Different
You won’t be offered on TraderSync and whether or not it may possibly really enhance your day buying and selling sport. So, you’re in all probability curious if there are options on the market.
The reply is — YES!
Another buying and selling journal choices embrace Edgewonk, Tradervue, and Trademetria.
We’ve shared an excellent deal about every platform in these critiques. You need to take a while to look them up.
Is TraderSync Value it?
So, is TraderSync one of many greatest buying and selling journals? We’d say sure, particularly if you happen to’re keen to pay for a subscription.
The free plan would possibly work for informal merchants, however manually importing trades for evaluation isn’t ultimate for swing or day merchants.
Now, a premium subscription has some fairly candy perks. Aside from the Elite plan, the pricing is sort of reasonably priced, and monitoring your buying and selling exercise super-fast—inside 30 seconds—is a game-changer.
What’s cool is that each plan (apart from the free one) enables you to observe several types of trades, not simply shares. Which means it can provide you an edge in every kind of buying and selling, not simply the standard stuff.
We’ve touched on a lot of the necessary options on this overview, however if you happen to’re nonetheless not sure, why not give it a shot your self? Click on right here to enroll and begin monitoring trades and sharpening your buying and selling expertise with a free, seven-day trial.