7 Best Trading Journals for 2024 [Software and Apps]

by Dec 16, 2023Blockchain Technology0 comments

Using a trading journal is crucial for improving trading skills. It helps record, review, and refine trading activities, allowing traders to identify strengths and weaknesses, develop strategies, manage risk, measure performance, and learn from mistakes. However, not all trading journals are the same. To assist in finding the best fit, we’ve compiled a list of the top 7 trading journals for 2023, considering features, design, usability, price, and support. Each journal is accompanied by pros, cons, and effective usage tips. 

Here are the recommended trading journals for 2023 [software and apps]:

1. TraderSync

TraderSync

TraderSync is our top pick for the best overall trading journal, as it offers a comprehensive and intuitive solution for traders of all levels and markets. TraderSync supports stocks, options, futures, forex, and crypto traders, and allows you to import your trades automatically from over 100 brokers and platforms.

  • TraderSync has a sleek and modern design that makes it easy to navigate and use. You can customize your dashboard to display the data and metrics that matter most to you, such as profit and loss, win rate, risk-reward ratio, drawdowns, etc. You can also create multiple portfolios to track different accounts or strategies.
  • TraderSync has a powerful journaling feature that allows you to add notes, tags, screenshots, emotions, etc. to each trade. You can also use voice notes or video notes to record your thoughts and feelings during or after the trade. You can then review your trades in detail using various filters and tools.
  • TraderSync has an advanced analytics feature that allows you to discover your edge as a trader. You can analyze your performance by various factors such as market conditions, time frames, setups, indicators, etc. You can also use artificial intelligence (AI) to find your optimal entries, exits, stops, targets, etc.
  • TraderSync has a unique playlist feature that allows you to practice your trading skills using historical market data. You can replay any trading day or period in real-time or fast-forward mode, and place simulated trades using live prices. You can also share your trades with a mentor or a coach for feedback.
  • TraderSync has a free plan allowing you to track up to 100 monthly trades. The paid plans start from $19.97 per month and offer unlimited trades, features, integrations, support, etc.
Pros and Cons Comparison

Pros and Cons Comparison

ProsCons
•  Supports multiple markets and assets•  Does not support some brokers and platforms that are popular among traders
•  Imports trades automatically from over 100 brokers and platforms•  Does not have a mobile app that can be used on the go
•  Has a sleek and modern design that is easy to navigate and use•  Does not have a community feature that can allow users to interact with other traders
•  Allows you to customize your dashboard to display the data and metrics that matter most to you
•  Allows you to add notes, tags, screenshots, emotions, etc. to each trade
•  Allows you to use voice notes or video notes to record your thoughts and feelings during or after the trade
•  Allows you to analyze your performance by various factors such as market conditions, time frames, setups, indicators, etc.
•  Allows you to use artificial intelligence (AI) to find your optimal entries, exits, stops, targets, etc.
•  Allows you to practice your trading skills using historical market data
•  Allows you to share your trades with a mentor or a coach for feedback
• Has a free plan that allows you to track up to 100 trades per month

Tips:

  • To get the most out of TraderSync, make sure to import your trades regularly and accurately from your broker or platform
  • To improve your trading journaling, make sure to add as much detail and context as possible to each trade, such as your strategy, plan, execution, outcome, emotions, etc.
  • To optimize your trading performance, make sure to review your trades frequently and objectively using the analytics and AI features
  • To enhance your trading skills, make sure to practice and test your strategies and plans using the playlist feature
  • To get feedback and support, make sure to share your trades with a mentor or a coach who can help you improve and grow

2. Edgewonk

Edgewonk

Edgewonk is our second pick for the best overall trading journal, as it offers a simple and effective solution for traders who want to focus on their trading psychology and behavior. Edgewonk supports stocks, options, futures, forex, crypto, and CFD traders, and allows you to import your trades manually or automatically from various brokers and platforms.

  • Edgewonk has a clean and minimalist design that makes it easy to enter and view your data. You can customize your journal to suit your trading style and preferences, such as adding custom statistics, comments, tags, etc. You can also create multiple journals to track different accounts or strategies.
  • Edgewonk has a strong focus on trading psychology and behavior, as it allows you to track and analyze various aspects of your trading mindset and emotions. You can rate your trades by various criteria such as confidence, discipline, patience, etc. You can also identify and overcome your trading biases and mistakes using various tools such as tilt meter, trade management index, etc.
  • Edgewonk has a smart feedback feature that allows you to get personalized tips and advice based on your trading performance and behavior. You can also set goals and track your progress using various metrics such as equity curve, expectancy curve, R-multiple distribution, etc.
  • Edgewonk has a one-time fee of $169 that gives you lifetime access to the software. You can also get a 30-day money-back guarantee if you are not satisfied with the product. You can also get an extra 10% discount today.
Pros and Cons Comparison

Pros and Cons Comparison

ProsCons
•  Supports multiple markets and assets•  Does not have a web-based or mobile version that can be accessed online or on the go
•  Imports trades manually or automatically from various brokers and platforms•  Does not have an advanced analytics or AI feature that can help you find your edge or optimize your entries, exits, stops, targets, etc.
•  Has a clean and minimalist design that is easy to enter and view data•  Does not have a playlist or simulation feature that can help you practice or test your trading skills using historical market data
•  Allows you to customize your journal to suit your trading style and preferences•  Does not have a community or social feature that can allow you to interact with other traders or get feedback from mentors or coaches
•  Allows you to track and analyze various aspects of your trading psychology and behavior
•  Allows you to get personalized tips and advice based on your trading performance and behavior
•  Has a one-time fee that gives you lifetime access to the software

Tips:

  • To get the most out of Edgewonk, make sure to enter your trades accurately and consistently into the software
  • To improve your trading psychology and behavior, make sure to rate your trades by various criteria such as confidence, discipline, patience, etc., and identify and overcome your trading biases and mistakes using the tools such as tilt meter, trade management index, etc.
  • To get personalized feedback and advice, make sure to review your smart feedback regularly and follow the suggestions and recommendations that are tailored to your trading performance and behavior
  • To track your progress and goals, make sure to use the metrics such as equity curve, expectancy curve, R-multiple distribution, etc., and compare them with your benchmarks and targets

3. TradingView

TradingView

TradingView is our third pick for the best overall trading journal, as it offers a versatile and popular solution for traders who want to access a wide range of market data and tools. TradingView supports stocks, options, futures, forex, crypto, indices, commodities, bonds, etc., and allows you to import your trades manually or automatically from various brokers and platforms.

  • TradingView has a rich and colorful design that makes it easy to visualize and analyze your data. You can customize your charts to display various indicators, patterns, trends, etc., as well as use various drawing tools to annotate your charts. You can also create multiple watchlists to monitor different markets or instruments.
  • TradingView has a robust journaling feature that allows you to add notes, screenshots, emotions, etc. to each trade. You can also use the Pine Script language to create custom indicators, strategies, alerts, etc. You can then backtest your strategies using historical market data and optimize them using various parameters.
  • TradingView has a large and active community feature that allows you to interact with other traders from around the world. You can share your ideas, charts, trades, etc. with other users and get feedback, comments, likes, etc. You can also follow other users who have similar interests or styles as you.
  • TradingView has a free plan that allows you to access basic features and tools. The paid plans start from $14.95 per month and offer more features and tools such as more indicators, more alerts, more time frames, more data, etc. You can also get a 30-day free trial to test the premium features before you buy.
Pros and Cons Comparison

Pros and Cons Comparison

ProsCons
•  Supports multiple markets and instruments•  Does not have a dedicated journaling feature that allows you to review and analyze your trades in detail
•  Imports trades manually or automatically from various brokers and platforms•  Does not have a smart feedback or AI feature that can help you find your edge or improve your performance
• Has a rich and colorful design that is easy to visualize and analyze data•  Does not have a playlist or simulation feature that can help you practice or test your trading skills using historical market data
•  Allows you to customize your charts to display various indicators, patterns, trends, etc.•  Does not have a mentorship or coaching feature that can help you get feedback or support from experts
•  Allows you to add notes, screenshots, emotions, etc. to each trade
•  Allows you to use the Pine Script language to create custom indicators, strategies, alerts, etc.
•  Allows you to backtest and optimize your strategies using historical market data
•  Has a large and active community feature that allows you to interact with other traders from around the world

Tips:

  • To get the most out of TradingView, make sure to import your trades accurately and consistently into the platform
  • To improve your trading analysis, make sure to use various indicators, patterns, trends, etc. that are relevant and useful for your trading style and market
  • To improve your trading strategy, make sure to use the Pine Script language to create custom indicators, strategies, alerts, etc. that suit your trading goals and preferences
  • To improve your trading skills, make sure to backtest and optimize your strategies using historical market data and compare them with your live results
  • To improve your trading knowledge, make sure to interact with other traders from around the world and learn from their ideas, charts, trades, etc.

4. Myfxbook

Myfxbook

Myfxbook is our fourth pick for the best overall trading journal, as it offers a specialized and reliable solution for forex traders who want to track and verify their trading results. Myfxbook supports forex traders who use MetaTrader 4 (MT4), MetaTrader 5 (MT5), cTrader, FXCM Trading Station, Oanda fxTrade/fxTrade Practice accounts. It allows you to import your trades automatically from your broker or platform.

  • Myfxbook has a simple and straightforward design that makes it easy to view and manage your data. You can see various statistics and metrics about your trading account, such as balance, equity, profit, drawdown, gain, etc. You can also see various charts and graphs that display your performance over time or by various factors such as currency pairs, strategies, etc.
  • Myfxbook has a verification feature that allows you to prove the authenticity and accuracy of your trading results. You can verify your account by connecting it to Myfxbook’s servers using an investor password or an API key. You can then share your verified account with others using a public link or a widget.
  • Myfxbook has a comparison feature that allows you to compare your trading results with other traders or accounts. You can compare various aspects such as profit, drawdown, gain, etc., as well as filter by various criteria such as broker, platform, country, etc. You can also see the rankings of the best performing traders or accounts on Myfxbook.
  • Myfxbook has a free plan that allows you to track up to 5 accounts and access basic features and tools. The paid plans start from $15.95 per month and offer more accounts, features, and tools such as more indicators, alerts, reports, etc. You can also get a 30-day free trial to test the premium features before you buy.
Pros and Cons Comparison

Pros and Cons Comparison

ProsCons
•  Supports multiple forex platforms and brokers•  Does not support other markets or instruments besides forex
•  Imports trades automatically from your broker or platform•  Does not have a dedicated journaling feature that allows you to add notes, screenshots, emotions, etc. to each trade
•  Has a simple and straightforward design that is easy to view and manage data•  Does not have a playlist or simulation feature that can help you practice or test your trading skills using historical market data
•  Allows you to verify your trading results and share them with others•  Does not have a mentorship or coaching feature that can help you get feedback or support from experts
•  Allows you to compare your trading results with other traders or accounts
•  Has a community feature that allows you to interact with other forex traders from around the world

Tips:

  • To get the most out of Myfxbook, make sure to connect your account correctly and securely to Myfxbook’s servers using an investor password or an API key
  • To improve your trading analysis, make sure to use various statistics and metrics that are relevant and useful for your trading style and market
  • To improve your trading strategy, make sure to use various indicators, patterns, trends, etc. that are suitable for your trading goals and preferences
  • To improve your trading skills, make sure to compare your trading results with other traders or accounts who have similar or better performance than you
  • To improve your trading knowledge, interact with other forex traders worldwide and learn from their experiences, insights, tips, etc.

5. Journalytics

Journalytics

Journalytics is our fifth pick for the best overall trading journal, as it offers a user-friendly and affordable solution for traders who want to keep track of their trades and emotions. Journalytics supports stocks, options, futures, forex, crypto, and CFD traders, and allows you to import your trades manually or automatically from various brokers and platforms.

  • Journalytics has a simple and elegant design that makes it easy to enter and organize your data. You can see various statistics and metrics about your trading account, such as profit and loss, win rate, risk-reward ratio, expectancy, etc. You can also see various charts and graphs that display your performance over time or by various factors such as setups, emotions, etc.
  • Journalytics strongly focuses on trading emotions, allowing you to track and analyze how your feelings affect your trading decisions and results. You can rate your trades by emotions such as fear, greed, confidence, frustration, etc. You can also use emojis to express your emotions fun and easily. You can then review your trades and emotions using various filters and tools.
  • Journalytics has a smart feedback feature that lets you get actionable tips and advice based on your trading performance and emotions. You can also set goals and track your progress using various metrics such as profit factor, Sharpe ratio, R-multiple distribution, etc.
  • Journalytics has a web-based version that can be accessed online from any device or browser. It also has a mobile app that can be used on the go. You can sync your data across all your devices and access it anytime and anywhere.
  • Journalytics has a free plan allowing you to track up to 50 monthly trades. The paid plans start from $9.99 per month and offer unlimited trades, features, integrations, support, etc. You can also get a 14-day free trial to test the premium features before you buy.
Pros and Cons Comparison

Pros and Cons Comparison

ProsCons
•  Supports multiple markets and assets•  Does not have a verification feature that allows you to prove the authenticity and accuracy of your trading results
•  Imports trades manually or automatically from various brokers and platforms•  Does not have a comparison or ranking feature that allows you to compare your trading results with other traders or accounts
•  Has a simple and elegant design that is easy to enter and organize data•  Does not have a community or social feature that allows you to interact with other traders or get feedback from mentors or coaches
•  Allows you to track and analyze how your emotions affect your trading decisions and results
•  Allows you to get actionable tips and advice based on your trading performance and emotions
•  Has a web-based version that can be accessed online from any device or browser
•  Has a mobile app that can be used on the go

Tips:

  • To get the most out of Journalytics, make sure to enter your trades accurately and consistently into the platform
  • To improve your trading emotions, make sure to rate your trades by various emotions such as fear, greed, confidence, frustration, etc., and use emojis to express your emotions in a fun and easy way
  • To get actionable feedback and advice, make sure to review your smart feedback regularly and follow the suggestions and recommendations that are tailored to your trading performance and emotions

6. Tradervue

Tradervue

Tradervue is our sixth pick for the best overall trading journal, as it offers a professional and comprehensive solution for traders who want to improve their trading skills and performance. Tradervue supports stocks, options, futures, forex, crypto, and CFD traders, and allows you to import your trades automatically from over 100 brokers and platforms.

Tradervue has a detailed and organized design that makes it easy to enter and review your data. You can see various statistics and metrics about your trading account, such as profit and loss, win rate, risk-reward ratio, expectancy, etc. You can also see various charts and graphs that display your performance over time or by various factors such as setups, instruments, etc.

Tradervue has a dedicated journaling feature that allows you to add notes, screenshots, emotions, etc. to each trade. You can also use advanced features such as split testing, trade tagging, trade filtering, etc. to enhance your journaling process. You can then review your trades and notes using various filters and tools.

Tradervue has a mentorship feature that allows you to get feedback and support from experienced traders who can help you improve and grow. You can share your trades or journals with your mentors or coaches using a private link or a widget. You can also join or create groups with other traders who have similar interests or goals as you.

Tradervue has a free plan that allows you to track up to 100 trades per month. The paid plans start from $29 per month and offer more trades, more features, more integrations, more support, etc. You can also get a 7-day free trial to test the premium features before you buy.

Pros and Cons Comparison

Pros and Cons Comparison

ProsCons
•  Supports multiple markets and assets•  Does not have a verification feature that allows you to prove the authenticity and accuracy of your trading results
•  Imports trades automatically from over 100 brokers and platforms•  Does not have a comparison or ranking feature that allows you to compare your trading results with other traders or accounts
•  Has a detailed and organized design that is easy to enter and review data•  Does not have a smart feedback or AI feature that can help you find your edge or improve your performance
•  Allows you to add notes, screenshots, emotions, etc. to each trade•  Does not have a playlist or simulation feature that can help you practice or test your trading skills using historical market data
•  Allows you to get actionable tips and advice based on your trading performance and emotions•  Does not have a web-based or mobile version that can be accessed online or on the go
•  Allows you to use advanced features such as split testing, trade tagging, trade filtering, etc. to enhance your journaling process
•  Allows you to get feedback and support from experienced traders who can help you improve and grow

Tips:

  • To get the most out of Tradervue, make sure to connect your account correctly and securely to Tradervue’s servers using an API key
  • To improve your trading journaling, make sure to add as much detail and context as possible to each trade, such as your strategy

7. TradeBench

TradeBench

TradeBench is our seventh pick for the best overall trading journal, as it offers a free and easy-to-use solution for traders who want to plan and manage their trades and risk. TradeBench supports stocks, futures, forex, crypto, and CFD traders, and allows you to import your trades manually or automatically from various brokers and platforms.

TradeBench has a simple and functional design that makes it easy to enter and organize your data. You can see various statistics and metrics about your trading account, such as profit and loss, win rate, risk-reward ratio, expectancy, etc. You can also see various charts and graphs that display your performance over time or by various factors such as setups, instruments, etc.

TradeBench has a planning feature that allows you to create and execute your trading plans and strategies. You can set your entry, exit, stop loss, target, position size, risk, etc. for each trade. You can also use various tools such as trade checklists, trade alerts, trade calculators, etc. to help you with your trading decisions.

TradeBench has a risk management feature that allows you to control and optimize your risk and money. You can set your risk parameters such as maximum loss per trade, maximum drawdown, etc. You can also use various tools such as risk matrix, risk-adjusted return, etc. to help you with your risk analysis.

TradeBench has a free plan that allows you to track unlimited trades and access basic features and tools. The paid plans start from $8.90 per month and offer more features and tools such as more indicators, more alerts, more reports, etc. You can also get a 30-day free trial to test the premium features before you buy.

Pros and Cons Comparison

Pros and Cons Comparison

ProsCons
•  Supports multiple markets and assets•  Does not have a verification feature that allows you to prove the authenticity and accuracy of your trading results
•  Imports trades manually or automatically from various brokers and platforms•  Does not have a comparison or ranking feature that allows you to compare your trading results with other traders or accounts
•  Has a simple and functional design that is easy to enter and organize data•  Does not have a smart feedback or AI feature that can help you find your edge or improve your performance
•  Allows you to create and execute your trading plans and strategies•  Does not have a playlist or simulation feature that can help you practice or test your trading skills using historical market data
•  Allows you to control and optimize your risk and money•  Does not have a community or social feature that allows you to interact with other traders or get feedback from mentors or coaches

Tips:

  • To get the most out of TradeBench, make sure to enter your trades accurately and consistently into the platform
  • To improve your trading planning and execution, make sure to use various tools such as trade checklists, and trade alert

Conclusion

In summary, it is important to stress the importance of using and regularly maintaining a trading journal, whether you choose to create your own or use one of the recommended services mentioned earlier. There are many ways to analyze your trades after they’re done, giving you plenty of options. However, what really counts is that you make a commitment and put in the effort to use a trading journal effectively. If you neglect this crucial step, it could harm your chances of succeeding in the trading world.

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