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Embarking on a buying and selling journey will be each exhilarating and daunting, particularly when discovering a dependable strategy that constantly delivers outcomes.
It’s not nearly devising a strong buying and selling technique; sustaining self-discipline and monitoring progress are equally essential.
Nevertheless, monitoring numerous trades and figuring out the simplest strategies will be overwhelming. TraderSync is a promising choice among the many myriad buying and selling software program accessible.
On this assessment, we’ll dive deep into the options, professionals, and potential drawbacks of TraderSync to find out if it’s a worthwhile device for day merchants.
We’ll consider its user-friendliness, knowledge analytics capabilities, and buying and selling journal functionalities, evaluating it to different fashionable buying and selling platforms.
By the tip of this TraderSync assessment, you should have a complete understanding of whether or not TraderSync is the proper companion in 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 device allows you to dive deep into your previous trades and analyze them.
As an alternative 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 varieties make you probably the most cash.
You’ll be able to even calculate how your earnings and losses may shift if you happen to comply with a sure buying and selling technique or ditch a specific 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 device 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? Properly, let me break down a few of the major 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’ll be able to write notes for every commerce, take screenshots of value charts, and connect them to your notes.
It mechanically 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 allows you to create tags for commerce setups and errors. The setup tags aid you bear in mind your targets if you enter a commerce, whereas the error tags allow you to replicate on what went unsuitable in these not-so-great trades.
3) Evaluator and Simulator
These two options allow you to analyze your commerce knowledge, 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 exhibiting how your portfolio modified over time based mostly on numerous variable combos.
4) Commerce Administration
Out there solely to Elite subscribers, this characteristic is much like the simulator, but it surely’s not as user-friendly as different TraderSync instruments.
Commerce administration allows you to create guidelines to comply with 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 point out which of them adopted your plan and broke the foundations.
5) Information 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 amount traded. You should use this information to judge your buying and selling efficiency.
6) Customization and Structure
TraderSync is well customizable. You’ll be able to tweak each the reporting instruments and the show. If you log in, the principle dashboard provides you a knowledge overview, and you may kind and filter your trades utilizing the platform’s knowledge 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 provides you entry to probably the most fundamental options.
You’ll be able to tag setups and errors, however you’ve obtained to enter all of your trades manually. And truthfully, the evaluation instruments are sort of restricted.
You’ll additionally want to attach your Twitter account and let TraderSync submit 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 12 months. It’s obtained some neat options like computerized commerce imports from most platforms.
This lets you observe your revenue and loss utilizing numerous variables and preserve tabs on commissions and charges.
3) Premium plan
The Premium plan is $49.95 a month or $521 a 12 months if you would like much more. With this plan, you get the evaluator and simulator options.
Each options allow you to dive deeper into your buying and selling knowledge and see how your earnings and losses may change if you happen to tweak your buying and selling habits.
4) Elite plan
The Elite plan will value you $79.95 a month or $834 a 12 months. This plan comes with commerce administration, permitting you to create rules-based buying and selling plans.
Plus, you get AI-powered knowledge insights and the power to set automated cease loss and revenue goal ranges in 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 knowledge with paid plans
- Information imported in simply 30 seconds
- Presents charting, backtesting, and AI suggestions options
- 7-day free trial for all membership ranges
- Personal 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 at no cost accounts
TraderSync Different
You may not be bought on TraderSync and whether or not it might probably really increase your day buying and selling sport. So, you’re most likely curious if there are alternate options on the market.
The reply is — YES!
Another buying and selling journal choices embrace Edgewonk, Tradervue, and Trademetria.
We’ve shared an incredible deal about every platform in these evaluations. It’s best to take a while to look them up.
Is TraderSync Price it?
So, is TraderSync one of many finest buying and selling journals? We’d say sure, particularly if you happen to’re keen to pay for a subscription.
The free plan may work for informal merchants, however manually importing trades for evaluation isn’t supreme for swing or day merchants.
Now, a premium subscription has some fairly candy perks. Apart from the Elite plan, the pricing is sort of inexpensive, and monitoring your buying and selling exercise super-fast—inside 30 seconds—is a game-changer.
What’s cool is that each plan (moreover the free one) allows you to observe various kinds of trades, not simply shares. Which means it may give you an edge in every kind of buying and selling, not simply the normal stuff.
We’ve touched on many of the necessary options on this assessment, 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.
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