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. TraderVue offers a free plan that lets you add up to 30 trades per month and includes limited customization and analysis options.

The S&P 500 is up 19.7% and the Nasdaq composite is up 36.7% in 2023. Smaller-company stocks have also recently turned higher for the year following the market’s recent rally. Hope that the Federal Reserve is finally done raising interest rates in its fight to control inflation helped push markets steadily higher through much of November. Although Trademetria doesn’t have quite the name recognition or track record of TraderSync or Tradervue, it’s still a worthy option. This is just one example of how you could set up a trading journal in Excel.

It’s an excellent option for traders who want the most out of their trading journal. Keep reading for a full breakdown of our top-3 trading journals, so you can decide which has the potential to sharpen your trading edge and help you dominate the financial markets. Modern trading journals make it even easier to draw insights from your trading data. There’s a litany of powerful trading journal software available online, and they offer vastly superior capabilities to an old-school notebook. The hardest thing with trading journals is deciding to start and building the habit of maintaining consistency. If you struggle to begin your trade journal, picture your end goal, probably becoming a better trader.

What is the Best Trading Journal? Top 5 Free & Paid Trading Journals

So far, we can say that EdgeWonk is all about empowering you to take full charge of your trading journey. And for that, they provide you with a highly useful feature i.e. session analyzer. Webull is one of the leading stock trading and investment platforms in the world…. If you want to unlock, you need to select a suitable plan from the golden and silver category. It offers a free plan as a free trial with limitations, a silver monthly subscription for $29, and gold for $49/month.

It’s got great graphs that you can use to visualize your trading performance and that’s in addition to it providing you with the ability to attach screenshots to each one of your entries. Options and trading penny stocks are two different ways to trade high risk and high… To get access to all features, you must get a premium account for Axi live trading accounts.

Best Day Trading Journal

The addition of an artificial intelligence engine that automatically analyzes the previous trade history, and current trade going on to fund hidden and ignored patterns is valuable. Ideally, you write your trading plan each day in your journal before you trade. Which trading journal is best for TradingView users may depend on what broker you’re using along with it. Your sync or import might come from that broker, or from an export/sync from TradingView.

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Tradervue offers a 7-day free trial, and you won’t be charged until it’s up. You’ll have to enter payment info to start, so just make sure that if you don’t want to keep it, you cancel best trading journals before the 7 days is up. Although there isn’t a free trial, they have a 14-day money-back guarantee, so you can try it and cancel for a refund within that time if you don’t like it.

The trade journal allows featured customizable warnings to prevent trading mistakes and receive insights based on factual data. With this smooth trading tool, you can have access to information that is generally specified for hedge funds and professional traders. For instance, the user will not access the advanced analytic and charting features. Tradevue is a much better and easier option than keeping the history of trade on any typical tool or excel spreadsheet.

Risk Management

This feature is a great way to test or tweak strategies in a low-threat, low-risk environment without risking your cash. Use the comparison tool below to compare the top Trading Journals on the market. You can filter results by user reviews, pricing, features, platform, region, support options, integrations, and more.

These tools also help you keep track of your market moves, measure your progress, and serve as a benchmark for trading performance. For professionals, it will fine-tune their strategies and make it easier to deep-dive in detail and analyze. For example, you won’t have access to the advanced charting and analytics features, and you will have a cap of 30 trade imports per month.

The following screenshot shows a spreadsheet trading journal template. You can see entries such as stock symbol, direction, entry price, exit price, reason for trade, market condition, etc. Drawing from my trading experience, I can attest that the choice of a journal primarily hinges on its medium, as the format, features, and functionalities vary based on the journal’s medium. In the following section, I will provide a detailed explanation of the different types of trading journals.

But stick with me because I’ll show you why it’s also a great trading journal solution. So if you don’t mind the monthly fee, Tradersync is a fantastic solution for all the markets you trade. Traders with Excel journals also typically use formulas to automate some of the analytics. You can even capture images and generate charts in Excel, so the program has much of the same functionality as other options. While this section mentions Microsoft Excel specifically, you can also consider Google Sheets or OpenOffice as viable alternatives. For more details on how to use Exel for your trading journal, you can check out our other article.

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