Many folks consider TraderSync to be one of the top journaling software on the market. But are they right? Get the full scoop with our TraderSync review.
TraderSync Review: Overview
TraderSync is an online trading journal that tracks your trading patterns so you can build better habits.
This journal lets you look at past trades to see what worked and what didn’t. Profitability is about more than making winning trades — it’s also about avoiding duds by learning from past mistakes.
Needless to say, this is a powerful tool to bolster your trading strategies by analyzing every nook and cranny of your trading history.
It links to over 100 different brokerages, including big names like TD Ameritrade and Robinhood. Also, the importing feature makes it easy to quickly bring trade data over.
Once your data is inside TraderSync, all the reports, charting, and other analysis tools are at your fingertips.
To add to the list of perks, TraderSync has a mobile app for both Android and iOS phones. These apps make trade management possible anytime, anywhere.
In short, it’s the complete trading journal software package.
Does TraderSync Support Crypto?
Yes, TraderSync’s site says it does support importing crypto data. This is not listed in some areas on the site, so it’s likely a newer feature.
Does TraderSync Work with Options?
TraderSync does work with options. However, you’ll need to spring for a paid version to import them to your journal.
Value of a Trading Journal
A trading journal is a powerful tool for keeping track of your trades and gleaning insights into your overall performance. Careful analysis of your own progress can grow your trading skills and ultimately lead to more success down the road. Here are just a handful of the top benefits of keeping a trading journal of your own:
Uncover Your Weaknesses
Even the best traders didn’t get to where they are overnight. It takes careful consideration of past trades and strategies to work out the kinks that make you better at playing the markets.
Your trading journal is a record of all your wins and losses, so you can see at a moment’s notice if a certain plan consistently works for you or not. Otherwise, you may find yourself in a rut of making the same mistakes with no way out.
Understand Risk Management
A trading journal can help you ascertain a new setup’s viability before you make a move. More risky trades can be viable strategies if you’re aware of what you’re getting into.
Documenting your position size, risk/reward ratios, and profit or stop levels all build toward smart trading maneuvers. Capturing risk in this way allows you to build out a diverse portfolio leading to success and not failure.
Hold Yourself Accountable
By having a concrete list of your trades, you’re more encouraged to keep at it and stick to your plan. After all, it can be challenging when a trade doesn’t go your way to make rash decisions that end up costing you even more.
In the end, you’ll hopefully notice a more consistent trading plan with proper discipline sprinkled with the kind of level-headed decision-making you want to see.
Data Collection
You may prefer to trade in energy or technology, but which industry worked better for you in the long run? With a trading journal, you can quickly see how well you did in each sector and where you’re more profitable over time.
Plus, it’s up to you how deep you want to go with your documentation. You’re free to set AI apart from computer software or oil from natural gas if you so choose.
How Do I Use TraderSync?
TraderSync is strictly a digital trading journal app — not a trading platform. You use TraderSync to perform technical analysis by importing and analyzing your trade data from your brokers.
The platform has a suite of fantastic features, but its most important uses will be for charting trade progress, tracking performance, tracking price targets, taking notes, etc.
If you have the paid versions of TraderSync, you can track your personal trades on these markets:
- Stocks
- Options
- Futures
- Future
- Forex
- Crypto
The free version has limited tools and only allows you to track your progress on the stock market. It’s still useful, but you won’t have access to the features that can really help you improve performance on future trades.
Is TraderSync Free?
There is a free version of TraderSync as well as a free trial for all paid accounts. The paid tiers unlock even more functionality, so these will appeal more to serious traders.
Stay tuned for a breakdown of the costs of each subscription, as well as an in-depth look into what they offer.
Is TraderSync Safe?
Based on all available information, TraderSync is safe to use. No trading is performed on TraderSync, so none of your money will ever pass through the site.
Though, you can access your trade data from the other trading platforms you use to track your performance. Also, trade data that does end up on the platform is safely stored in the cloud using Amazon’s servers.
Connections to your data in the cloud are always encrypted and require a login.
How Do I Import Trades to Tradersync?
Compared to other online trading journals, importing trades to TraderSync is surprisingly simple.
All you need to do is:
- Go to your broker’s platform (e.g., ThinkorSwim).
- Find your account statement.
- Make sure that the statement’s columns include execution, spread, side, symbol, and price. If you don’t have these columns, you can typically go into your settings and set it to default for them to appear.
- Export the information into a CSV file.
- Go to the TraderSync platform.
- Select import and click on the broker you’re importing your trade data from.
- Import the CSV file from that broker, and it will log all your trades.
If you need help, you can check TraderSync’s YouTube channel or website for tutorials.
TraderSync Review: Features
There are plenty of features that come along with TraderSync.
Learn more about them in our TraderSync review.
- Trade journaling
- Reporting
- Share information
- Artificial intelligence (AI) feedback and reports
- Trade management
- Backtesting
- Evaluator and simulator
- Video tutorials
Trade Journaling
TraderSync’s trading journal monitors trading behavior across stocks, options, forex, futures, and more.
It’s the hub of the service that you can use to track and record your trades for future viewing. This online trading journal is packed with great features, but it’s the simplicity that really stands out.
Each feature was carefully crafted with user experience, and one glance at the UI demonstrates this.
Additionally, the journal’s modules allow you to customize everything to your liking.
Trade Tagging
Setup tags will remind you what your goal was when you entered into a particular trade, while a mistakes tag offers a chance to review what went wrong with a trade you were working with.
Both setup and mistakes tags help track trading behavior so you can pivot your strategies to focus on what’s working.
>>Ready to start journaling with TraderSync? Click here <<
Notes
Another bonus of TraderSync’s trade journal is the ability to add notes to each trade, reminding yourself why you took a look at the asset in the first place.
Record notes for any of your trades and even attach elements, like the price chart, for future reference.
Track Commissions and Fees
This online trading journal makes it easy to track commissions and fees by importing your data or entering it manually.
You can also set up rules within TraderSync to automatically add this information as you add trades.
Charting
The trade journal also allows you to take a look at your trades in interactive chart form.
It can even automatically annotate charts with your entry points, exit points as well as stop-loss levels.
This makes it a breeze to plot your personal trade data to review contents and track performance.
Reporting
Depending on the membership plan you’ve signed up for (starting at the Pro Tier and above), you’ll unlock several reports to run your trade data through.
The software platform keeps track of information on each trade, including data categories such as the market sector, entry price, volume, and even the day of the week you made the trade.
You can filter trade data by any of these criteria to view trading performance. Running a report by day of the week will show profits and losses on each trading day.
Trade Sharing
You can also share any of your trades, trading data, or ideas with others to get feedback on how your strategy is set up.
Trade data is normally set to private, but with a few clicks, you can create a public profile and share your trades with the world.
This feature provides you with the opportunity to learn from other traders and see what they are up to. It’s also great for sharing with your mentor or coach so they have first-hand insights into ways that you could improve.
Artificial Intelligence (AI) Feedback
TraderSync offers an advanced artificial intelligence engine that carefully peruses your trades for patterns at the higher subscription tiers.
The AI will report these findings back to you in an easy-to-digest format so you can adjust your trading strategies as needed. This is a fantastic feature for someone looking for a helping hand in finding out what works and what doesn’t.
Trade Management
Only available to Elite level traders, the Trade Management feature allows you to develop a trading plan by creating rules in TraderSync.
The software will then plot your trades from the beginning, using a color-coding system to show which trades followed the plan and which ones didn’t.
Even better, this chart can be set to identify profits and losses, so you can decide how well those rules might work moving forward.
Evaluator and Simulator (Backtesting)
The evaluator and simulator are the ideal tools for backtesting your strategies. Instead of running the numbers back yourself and theorizing different trade setups, these analysis tools handle all the heavy lifting.
The evaluator and simulator allow you to run different trading scenarios based on historical trade data so you can improve your trading strategies with tangible insights.
It will detail how profits and losses might change depending on adjustments to your trading behavior. It’s only available for Premium and Elite Accounts.
Video Tutorials
The developers have set up an impressive library of video tutorials to teach members the ins and outs of their service.
These videos are top quality, cover a wide range of topics, and do an outstanding job explaining each of the site’s features.
The team works hard to add new content regularly to make it as easy as possible for members to use the site.
Compatible Brokerage
Tradersync lists some 700+ brokerages, exchanges, and platforms it gets along with. As long as you have the paid version, you’ll be able to seamlessly import your trade data to the vast majority of them.
If you’re currently using a US-based trading platform, there’s a good chance Tradersync works with it. A few of the top brokerages to appear on the list are E*Trade, Fidelity, JP Morgan Chase, Robinhood, Webull, and TD Ameritrade. Trust me when I say this is just scratching the surface.
Having automatic updates is a wonderful departure from having to input all that data yourself. Keep in mind though that this doesn’t mean you can trade on Tradersync – the platform is for research purposes and tracking only.
TraderSync Review: Is It Legit?
TraderSync is a legit journaling platform packed with excellent features. Its robust analytical tools give you key insights that could help improve your trading performance.
The platform’s backtesting capabilities offer another dimension to your analysis and let you test whether a particular setup could net you more profits in the long run.
TraderSync Reviews by Members
TraderSync has earned stellar reviews on sites like Trustpilot, and the growing consensus is that it’s one of the top trading journals on the market. TraderSync clocks in at a 4.5/5 rating.
Check out these reviews of TraderSync:
So while we think that TraderSync is great, you don’t have to take our word for it.
These TraderSync reviews and ratings speak for themselves.
TraderSync Review: Pros and Cons
With a ton of great features and analytics at your fingertips, TraderSync has a lot going for it, but no one is perfect.
Take a look at the pros and cons of the service we found during TraderSync review.
Pros
- Track your own trading patterns with ease
- Intuitive backtesting capability
- Profit and loss chart automatically updates
- Can track data from multiple financial markets
- Slick UI cleanly organizes data
Cons
- Trade management tool is a bit complicated
- Some charting axes are not adjustable
TraderSync Review: Pricing
TraderSync has three different membership tiers: Free, Pro, Premium, and Elite. Keep reading our TraderSync review for a breakdown of each one.
Free Account ($0) – The free version of TraderSync is a functional but stripped-down version of the service. To use the account, you’ll need to tweet about the service on signup and periodically tweet about it.
Pro Account (29.93/mo) – The Pro plan is a premium subscription that unlocks many of TraderSync’s capabilities, such as tracking data, charting features, loads of reporting tools, calendar, and customer support.
Premium Account (49.95/mo) – Premium takes Pro’s functionality to the next level, unlocking a slew of new features that include sector, market cap, and simulator reports, as well as other goodies. It’s a solid step up.
Elite Account (79.95/mo) – You get everything that comes with premium in addition to automatic target/stop losses tracking, trading management, artificial intelligence insights, and automatic spread detection.
TraderSync Discount
Signing up for an annual membership provides members with a solid 13% discount. If you test out the service and plan on adding it to your trading arsenal, annual subscriptions are going to give you the most bang for your buck.
TraderSync Free Trial
As we mentioned above, all premium subscriptions come with a 7-day free trial. This means you can test out every TraderSync feature with the Elite membership and go from there.
How Do I Cancel TraderSync?
TraderSync makes it as easy as a few clicks to cancel a membership, but the platform does not offer refunds for purchases past the 7-day free trial.
Who Is TraderSync Best For?
TraderSync appeals to a wide variety of traders, but here are some that would get the most out of its functionality:
- Stock traders
- Options and futures traders
- Forex traders and crypto traders
- Swing and active traders
- And the list goes on and on…
With so many features, it’s difficult to name a type of trader who couldn’t benefit from this trading journal.
TraderSync Review: Is It Worth It?
TraderSync is an excellent journal that comes at a great price. While you might be able to find a TraderSync alternative that has similar functionality, you’ll be hard-pressed to find one with similar accessibility and pricing options.
After analyzing every corner of this journal in our TraderSync review, we give it an A+.
Journaling does require some hands-on work, but many TraderSync members appear to agree it’s well worth the effort.
Even better, the service is available at price points that traders should have no trouble getting behind.
Each service offers a lot of bang for your buck, but we recommend looking into Premium or Elite if you’re a serious trader. The simulator and evalulator are too good to pass up.
Anyone looking to improve trading habits with concrete data might want to put TraderSync on their shortlist. Few journals offer so much value for such a great price point.
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