As you’ve come across our Tradervue review, we assume you already know the importance of having the best trading journal to track your progress. In the next few lines, we will focus on one of the leading solutions on the market and find out how you can take advantage of it to improve your trading performance.
But before we deep dive into the essence of our Tradervue review, we should take the time to answer one essential question.
- What Is Tradervue?
More than just a trading journal platform, Tradervue is a mix of a traders’ social media site and a trading journal. You can use it to keep track of your trades and share with other users from all over the world your trading history. If you have the skills, you can keep track of your trade and even build some kind of profile analysis, and it won’t cost you anything.
By promoting automatic trade importation directly from the broker, Tradervue lets you keep track of your trading background. It is useful and helpful to have all your trading history in an organized format and in one location and be able to browse through if you want to up your game. You can also share with fellow traders the trades you’ve made and get feedback or use them as an example to provide advice.
- The importance of having a Trading Journal:
Trading isn’t an easy process. One should have the required experience, confidence, and self-control to be effective. None of this, however, has helped as much as self-analysis for the most effective traders on their way up. Self-analysis is a method of taking a moment to remember the mistakes. That way, you will figure out what has contributed to the situation in which you are and train yourself in the future to prevent the same failures.
Even a single error can wipe out your profit or even your whole portfolio when it comes to trading. This has been taught by many traders the hard way. Therefore, to become a smarter, more focused, and confident trader, it is necessary to keep track of your mistakes and self-improve. And the best way to do this is to use a trading journal such as Tradervue.
- Tradervue Features
Here comes one of the most important parts of our review, the features of the platform. It is possible to divide them into three categories – journal, analysis and sharing. Let’s take a look at every single one of them:
- Journal Feature
Tradervue allows you to import transactions for various asset classes, including inventories, futures, and FX. The platform allows you to take advantage of a range of features. For instance, let’s start with the automatic price charts. You can generate and review charts on multiple timeframes (from 1 minute to weekly intervals) alongside the buy/sell points once you add a trade in your journal. As you get back to the specific trade at some point, you can also take trade and daily notes to make it easier for analysis. You can also add tags and filter your transactions to organize your history and put everything in order. Once you do that, with just a few clicks, you will be able to organize, filter and analyze your trade easily.
Chart Studies is another excellent feature of the Tradervue software. You can replicate the exact same trading environment with their assistance as the one when you purchased/sold the asset.
The best thing about the platform is that over 70 brokers are supported by it. The cTrader, E-Trade, Schwab, Plus500, TD Ameritrade, MetaTrader 4 and 5 and more are among the supported platforms and brokers. A full list can be found here. So, it is safe to say that there is a very slim chance that you will not be able to import your history of trade. Alternatively, you can upload information stored in a text or MS Excel file.
- Analysis Feature
The report and analytics tools are the best of the Tradervue platform. Tradervue automatically generates charts with all the trade entries and exits marked, based:
- Comparison reports
- Statistical reports
- Risk analysis reports
- Liquidity reports
- P&L overviews
- Win % and trading volume reports
- Reports based on tags
- Tick-based reports
Even if you are involved in day-trading or trading multiple currencies, Tradervue has your back. For instance, the P&L reports are available in native and base currencies, which will make you save time and manual work hassle.
- Sharing Feature
There also is the opportunity to share with the trading community your trade history and performance details. The versatility of the social media platform offers you tons of opportunities. The first is to determine whether to share your activities and tell you all about what your strategy was, whether you stick to it, and what the result was. Make sure that not only the profitable trades are shared, but also the unsuccessful ones. Not everybody is a winner, and you’re still going to hear more from your losing trades, not your winning ones.
With Tradervue, if you don’t want to, you don’t have to share anything. You may also pick which specific trades you want to share and limit sensitive data such as t
he P&L statements. Another great benefit of the sharing feature is that if someone else is trading the same symbol as you and taking a look at their notes, you will get notified. Therefore, you can compare yourself to others, and steal ideas and insights.
The features of sharing are excellent options to get group feedback, learn useful know-how, and share ideas. Therefore, make sure to consider taking advantage of the aspect of social media. And don’t forget to share information that is informative rather than personal.
- Plans | Pricing
The Tradervue Journal comes with three plans – Free, Silver, and Gold. Here is more about each of them:
Free plan: This plan includes a simple journal of 100 monthly stock or ETF trade entries. As well as sharing your trading history, you can produce a summary and informative reports about your trades. You can also take advantage of different time frames with automated price maps. With just your email address, you can access it within seconds.
Silver plan: The silver plan gives you unlimited trade entries, more than 100 advanced reports, MFE/MAE statistics, multiple trading accounts, and much more for $29 a month, aside from all the features included in the free plan.
Gold plan: This package includes everything from the free and silver plans, as well as features for risk management and reporting, exit analysis, liquidity reports, and more. The gold plan’s price is $45 a month.
The good thing is each plan include a 7-day free trial. That way, you will have time to explore the platform and choose which plan is best for you.
- Pros and Cons
There are multiple factors that can determine whether Tradervue is the right option for you. For example, how deep you want your research and analysis to be, is social interaction beneficial to you, did you enjoy the platform, is the pricing of trading journal correct to you, do you intend to trade 100 or more stock instruments per day, etc.
Let’s see how Tradervue compares to other solutions on the market, to offer a more realistic response. Trade Insights and Edgewonk are the main competitors.
The first one is free, while the latter is offered along with a trading course and more advanced features at a one-time fee. The truth is that Tradervue falls somewhere in between. It has a more advanced interface and features than Trade Insights but falls shortly behind Edgewonk. That is why the best thing to do is to try the free functionalities of all platforms and decide on your own, depending on your trading needs and personal preferences.
Keep an eye on the costs too. At Tradervue the gold plan with all features coss
$49/mo, which is similar to TraderSync Premium, while Edgewonk comes with a one time payment of $197.
- Costs per year:
Trading Journal | Costs 12 Months | Costs 24 Months | Costs 36 Months |
Tradervue Gold | $588 | $1,176 | $1,764 |
- How and Who Should Use Tradervue?
You can feel lost at first as to how you can use Tradervue. This would most likely be due to the quantity of functionalities and features. Partial or entire sharing of trade history, imports, review, generation of reports, and so on – there are many components that you may struggle with when you start. The positive thing, though, is that you can find the questions through Tradervue’s in-depth tutorials for all of your answers. There is also a Support section with step-by-step detailed guides that cover how to use any platform feature.
The Tradervue platform is suitable not only for day trading professionals, advanced traders, and tech-savvy individuals but also for beginners. And even first-timers can get up to speed thanks to the abundance of instructional materials and learn how to maintain a functional trading journal.
To conclude our review, let’s take a look at the pros and cons of Tradervue.
- Pros
- Easy-to-use web-based trading journal and trading social media platform
- Advanced features to help you analyse your trading history
- Flexible pricing options with a free plan included for 100 stocks
- Competitive pricing
- Cons
- You have to import your trades manually
- Subscriptions accumulate over time
For more information, please visit the Tradervue Official Website.
ABOUT THE AUTHOR
Romain is an independent trader and investor specializing in financial market analysis and trading systems. He worked as a professional long/short equity trader for a trading firm in New York and has a passion for building mechanical trading strategies. He has been in the industry since 2008.
DISCLAIMER
This post expresses the opinions of the writer and is for information, entertainment purposes only. Romain is not a registered financial advisor or certified analyst. The reader agrees to assume all risk resulting from the application of any of the information provided. Past performance is not a reliable indicator of future returns and financial trading is full of risk.) Please read the Full Disclaimer