Sometimes, you invest endless hours in something that does not work and don’t know why. You did everything possible to improve things and try different approaches, but it always ends the same. The same is true for trading and investing, where we often spend hours by hours developing new trading strategies and trying different trade entry and exit methods with uncertain outcomes.
What strategy works best, and what type of trading setup should I focus on? How does my trade result look like when differentiating between days of the week and times of the day, and how is the difference in the profitability of long vs. short trades?
The best way to identify the most profitable strategies, strengths and weaknesses in your trading style is by using the best trading journal for detailed trade analysis. Below I’ve added my five favorite trading journal apps that help you with detailed analysis, and also included comparison tables and a starter guide.
Top 7 Trading Journals
Editor’s Choice
Edgewonk
Specializes in tracking of forex transactions, but you can use it for other assets too.
- Low Cost
- Web-Based
Use coupon DT10 to get $10 off. 14 days money back guarantee.
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2nd Best Choice
TraderSync
Supports over 100 brokers and all type of assets, from stocks and crypto to options and forex.
- Good Auto-Sync
- Web-Based
Free Trial Available
Free Trial Signup
3rd Best Choice
Trademetria
Comes with comprehensive broker integrations and good functionalities.
- All Assets
- Web-Based
Check Best Price
1. EdgeWonk
EdgeWonk is a feature-rich online trading journal with in-depth trade analytics tools and features. It is the best choice if you want to get as many features as possible for the lowest possible price.
The newest version, Egewonk 3.0, works on any device and is especially an excellent choice for forex traders due to the auto sync feature for MT4 and MT5.
In addition, you can easily import trades from brokers like Fidelity, Interactive Brokers, CobraTrading, Saxobank, and IG, and platforms like DAS Trader, NinjaTrader, Optimus Flow, and Quantower via CSV file upload or input your trades manually.
You can take advantage of entry/exit optimization tools, a trade simulator, advanced trade classifiers, trade management evaluation, holding time analysis, and more. You can also backtest strategies and use a future simulator with growth scenarios.
Edgewonk also allows you to customize the input information, including adding notes and tags for each trade. But the most exciting feature is the psychological classifiers. You can add information about your mood, reasons for entering/exiting a trade, and more. That way, you can spot patterns related to the success of your trades and their reliance on your emotions and psychological states.
Price: One of the most significant advantages is the price, which is $169 per year. The $10 coupon reduces the costs to $159, which equals $13.25 per month.
Asset classes supported: Forex, stocks, futures, crypto, CFDs
Try for 14 Days, Get $10 OffEdgewonk Review
2. TraderSync
Tradersync is a flexible and good trading journal app and over 100,000 traders use it via their web platform and mobile apps for iOS and Android.
With TraderSync, you can see your trades on a chart, including entries, profit targets, and stop-loss level visualization. Trades can be analyzed with interactive TradingView charts using various time frames, which is especially helpful for day traders.
TraderSync is especially an excellent choice for retail traders. That’s because the auto-sync feature is available for Interactive Brokers, Robinhood, TastyWorks, TD Ameritrade, CenterPoint Securities, and CMEG. In addition, MetaTrader 4 and MetaTrader 5, Binance, ByBit, Kucoin and PropReports are also supported for autosync.
Key figures like overall return, risk, return per share and options contract are supported, notes can be made for each trade, and you can tag trades and track commissions. In total, over 100 insightful stats are available. Those who want can set up a public profile and share their trades with others.
Users of the Elite Plan can use the stock market replay feature, review the tape, level 2 data, and price action, and evaluate trading performance in detail, which are excellent additions to the basic functionalities.
Price: Free trial (7 days), Pro plan ($29.95 per month), Premium plan ($49.95 per month), Elite plan ($79.95 per month). Annual subscriptions come with a 13% discount.
Asset classes supported: Stocks, options, futures, forex, crypto, CFDs
7 Days Free TrialTraderSync Review
3. Trademetria
Trademetria is an reliable trading journal with remarkable functionalities. You can track up to 50 trading accounts with unlimited order imports by using the Pro-version for $39.95 per month.
Unlimited delayed quotes for equities and forex, key metrics, a trade history calendar, buys and sells visualized on a chart, a PnL simulator, and strategy rankings are just some of the featured supported. More than 100 different online brokers are already supported, and the list is growing further.
An auto-sync API is available for Interactive Brokers, ThinkorSwim, TradeStation and Tradier, along with MetaTrader 4 and MetaTrader 5 for forex traders and some crypto brokers and platforms.
Price: Free plan, Basic plan ($29.95 per month), Pro plan ($39.95 per month). Annual subscriptions are 40% Off.
Asset classes supported: Stocks, options, futures, forex, cryptos, CFDs
Trademetria Review
4. TradeZella
TradeZella impresses with a great mix of features, making it an all-in-one trading journal and analytics tool, enabling users to access in-depth trading analytics and detailed reporting. The implemented features include trade replays, trade tacking, advanced charting, powerful journaling functionalities, and educational elements with the Zella Bootcamp.
Autosync is available for forex traders via MetaTrader 4 and MetaTrader 5 integrations, large brokerage platforms like Interactive Brokers, Robinhood, Thinkorswim by TD Ameritrade, and TradeStation, but also smaller brokerage houses and tools. Trades from other brokers can be imported via CSV file.
Price: TradeZella costs $49 per month or $399 per year.
Asset classes supported: Stocks, options, futures, forex, crypto
TradeZella Review
5. Tradervue
Tradervue was one of the first trading journals, and works well for journaling stock, forex and futures trades, helps analyze the profitability scores, and you can also share your expertise with other traders in the community. Currently, 82 different trading platforms are supported, ranging from the most popular ones like TD Ameritrade, Robinhood and MetaTrader to less-known platforms like cTrader and CQG Trader.
However, the upload process only works with a CSV file. An integrated auto-sync feature is currently not available. Still, you can use the Tradervue API to code automated imports on your own. Note: On their website, they note an auto-import feature, but the link with “here’s the list” has no target right now. That might mean that an auto-import feature is on its way.
You can use Tradervue for free with some limitations. 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. If you want to unlock the full potential of the platform, you should choose between the Silver or the Gold plans, depending on your needs.
Price: Free plan, Silver plan ($29 per month), Gold plan ($49 per month). Annual plans are not available.
Asset classes supported: Stocks, options, futures and forex
Tradervue Review
6. TradesViz
In terms of features, TradesViz also integrated TradingView charting capabilities, which visualize trade entries and exits. Besides charting, TradesViz has everything you’d expect from a trading journal. Comprehensive statistics, trade analysis, various calendar views, tables and trade notes are available.
Also, TradesViz has an integrated trading simulator, options flow analysis, seasonality charts, and options simulator in the highest-tier subscription plan.
In addition, auto-sync is available for multiple platforms, including Interactive Brokers, Robinhood, TastyWorks, TradeStation, and TD Ameritrade on the retail US broker side, but also supports platforms like Tradier, TradingView, Tradovate, and NinjaTrader. Forex traders should be aware of the fact that only MetaTrader 5 is supported for auto-sync, not MT4.
The fact that TradesViz is the only tool that supports Zerodha, India’s biggest stockbroker, makes it an excellent choice for Indian traders and investors.
Price: Free plan, annual plans for Pro ($179 per year) and Platinum ($269 per year). Monthly plans are not available.
Asset classes supported: Stocks, options, futures, forex, CFDs, Crypto
TradesViz Review
7. Microsoft Excel
Not every trade analysis and trade documentation requires a paid subscription to one of the best trade journaling apps. So, it is absolutely understandable that you might not want to pay for 3rd-party solutions, and this is where Microsoft Excel comes into play.
With this tool, you can start with a new spreadsheet and define the parameters you want to analyze. Typically, it is best to download trade executions from your broker and import them in a separate data tab. Then, you start evaluating and calculating the key statistics you require for analysis and add a pivot table to another tab for comparison purposes.
The out-of-the-box finance-related functions are kind of limited, so it will be beneficial if you have in-depth knowledge about VBA for macro development.
If you buy an older version, you can limit your expenses to the purchasing costs. However, if you go with the M365 version, there are recurring costs, making the tool not better than pre-developed trading journals from the expense side.
Price: $100 one-time for older versions, $69.99 per year for M365 Personal
Asset classes supported: Unlimited
Conclusion
EdgeWonk and TraderSync are the perfect solutions for traders who want powerful trade analytics features at their fingertips. TraderSync has the extra benefit that all features can be tested for 7 days for free. Trademetria has a robust user interface but only comes with delayed quotes.
And finally, if you want to avoid all limitations and build a powerful trade analysis system (you can include portfolio analysis, backtesting, and other features), and have the necessary skills, then Excel will do the job for you.
Comparisons
| Asset Class | Edgewonk | TraderSync |
|---|---|---|
| Stocks | ✅ | ✅ |
| Crypto | ✅ | ✅ |
| Options | ❌ | ✅ |
| Forex | ✅ | ✅ |
| Futures | ✅ | ✅ |
| CFD | ✅ | ✅ |
| Asset Class | Trademetria | Tradervue |
|---|---|---|
| Stocks | ✅ | ✅ |
| Crypto | ✅ | ❌ |
| Options | ✅ | ❌ |
| Forex | ✅ | ✅ |
| Futures | ✅ | ✅ |
| CFD | ✅ | ❌ |
| Trading Journal | Free Trial* | Month | Year |
|---|---|---|---|
| Edgewonk | ✅ | ❌ | $169 |
| TraderSync | ✅ | $29.95 – $79.95 | $312 – $834 |
| Trademetria | ✅ | $29.95 – $39.95 | $215 – $279 |
| TradeZella | ❌ | $49 | $399 |
| Tradervue | ✅ | $29 – $49 | ❌ |
| TradesViz | ✅ | ❌ | $179 – $269 |
| Microsoft Excel | ✅ | ❌ | $69 |
*Free Trial: Includes free versions, free trials, or offers with money back guarantee.
| Trading Journal | Founded | HQ |
|---|---|---|
| EdgeWonk | 2014 by Moritz Czubatinski | Germany |
| TraderSync | 2014 by David Olivares | Canada |
| Trademetria | 2016 by Thiago Ghilardi | USA |
| TradeZella | 2021 by Umar Ashraf | USA |
| Tradervue | 2011 by Greg Reinacker | USA |
| TradesViz | 2020 | India |
| Microsoft (Excel) | 1975 by Bill Gates | USA |
Frequently Asked Questions
What Is a trading journal?
A trading journal is a record of your trading activity. Keeping track of your history will make you more prepared for the future and will give you a competitive advantage. We can go as far as saying that it often differentiates professionals from amateurs. How so? Let’s take a look at a few examples.
The truth is that what you can’t track, you can’t improve, and what you don’t track, you won’t improve. Think of sports, for example. Boxers, footballers, basketball players – all of them watch recordings of their matches to analyze their weak points and improve their future results. Even poker players take notes during tournaments.
Trading journal software is essential as it builds habits for self-improvement. Think about this – you generate lots of data while you trade. Why don’t you capitalize on that and extract some valuable patterns for analysis?
These tools also help you keep track of your market moves, measure your progress, and serve as a benchmark for trading performance. Journals can be beneficial to both beginners and professionals. It helps beginners build habits and achieve higher success. For professionals, it will fine-tune their strategies and make it easier to deep-dive in detail and analyze.
What do you record in a trading journal?
The hardest thing with trading journals is deciding to start and building the habit of maintaining consistency. Afterward, everything comes in place. If you struggle to begin your trade journal, picture your end goal, probably becoming a better trader.
Try to paint that in numbers – for example, increasing your profitability by X%. It is proven that having a measurable goal boosts motivation and helps you remain focused.
You can start keeping records of your trades in several ways. A text document, an Excel worksheet, or a free or paid third-party service – you have a wide range of options. To narrow down your choices, let’s go through some basic tips on what should be included.
- Automated trade import: This is a convenient feature that will save plenty of time and effort. The most popular third-party solutions have direct integration with brokers and multiple accounts. That way, your trade history can be uploaded with just a few clicks.
- Report and analysis tools: These features are the most important ones. The automated analysis of your data will help you derive conclusions and extract essential bits of information about your style, mistakes, market moves, and more. That way, you will be more prepared the next time you trade and significantly optimize your overall performance.
- Advanced features: Looking at graphs and previous trades is one thing. Having access to advanced features for backtesting, trade management evaluation, classifiers, trade optimization, and more can bring your game to another level.
Last but not least, a trading journal should not come at an exorbitant price. In the end, it is just a tool that is intended to help you become better, not lay fundamentals.
How to create a trading journal?
A trading journal can be created in different ways. The most simplistic one is printing out a price chart and, manually drawing trade entries, exits on the chart and making notes on paper. While this works well with low trade frequencies, there should be some type of automation for higher trade frequencies.
A cost-efficient way to track trades is by using a spreadsheet on a computer. Here, you can paste screenshots from charts and use a pre-defined data evaluation process to evaluate data. However, there is a lot of time commitment involved in creating meaningful statistics and analysis.
For that reason, 3rd party trading journals like the ones in this best-of-list can be a big time saver and help identify helpful insights. But even with the 3rd party tools, not every tool equals the others.
You can always import CSV files to a trading journal app and then use the features of the app to do further analysis. Still, the real comfort comes with a tool that automatically pulls and syncs all trading activity.
Yet, that auto-sync feature strongly depends on the API that a broker and trading platform provides. For that reason, leading brokerages and trading platforms can be connected via auto-sync.
You create your journal by importing data to it, and then you have all the insights within your dashboard available. Since data security is an important aspect, it can be worth it to decide for a developer that explicitly mentions that they use high data security standards.
What is the best trading journal?
Tradersync is the leading trading journal for traders focusing on stocks, forex, options and futures markets, and it comes with a mobile app for iOS and Android. Edgewonk also supports CFDs and cryptocurrencies and comes with a free course and enhanced features. Tradervue is popular amongst day traders like Ross Cameron.
Are trade journals effective?
Yes. Trade journals are effective and are as good as the trading data imported. The more trades you import for analysis, the better the result. Trade journals are a great for analyzing the efficiency of a trading strategy and a great addition to a trade simulator.
What is a trading journal for?
A trading journal includes the classification of a buy or sell order, trade size, executed price, trading strategies, commissions and notes. Auto-generated trading metrics included in the software or app help you to find your trading edge by analyzing the trading performance.
Successful traders have in common that they continuously analyze their trades and optimize trading habits for the best possible future income. Past trades provide insightful data, which helps grow your trading business, improve risk management parameters, and avoid trading mistakes.
How will you review your trading journal data?
The trading journal will calculate helpful metrics to help you analyze your trades. The intention is to find the most profitable strategies and separate them from the others. For example, you may identify trading strategies where you feel that they are profitable but where the imported trade data tells another story. Trading journals are free of emotions and help you to analyze your trading activities.
Is there a free trading journal?
Yes. Google Sheets and Microsoft Excel are great free trading journals. You can use them to record and analyze your trades. Basic knowledge about creating pivot tables and charts is required to make the free journals effective. Once your trade activity goes beyond 10 trades per month, it can be helpful to decide on paid trading journals to save time and enjoy additional insightful trade analysis.
