The importance of keeping a trading journal can’t be highlighted enough, and we have talked about it times and times again. However, due to the abundance of available solutions on the market, it is often hard for many traders to find the one best tailored to their needs.
This article will focus on a lesser-known but impressive trading journal app, which supports a wide range of assets to import and analyze. Trademetria includes powerful charting software to help traders analyze their data. Although it might have flown under-the-radar, after going through our Trademetria Review, you might have your new personal favorite. Let’s find out why.
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About Trademetria Trading Journal?
Trademetria is an all-in-one trading journal, portfolio tracker, and trade analyzer software, which helps you to analyze your trades. In addition, it can be used to track platform fees, deposits, withdrawals and dividend payments.
The platform can use and analyze trading data from multiple brokerage accounts to evaluate key metrics and trading performance per account and in total. The founder, Thiago Ghilardi, a computer science graduate, was a prop trader, founded a trading company, became a director at a major trading firm, and then launched his Trademetria project.
Special Offer: Free Access + 40% Off On Annual SubscriptionsTrademetria Features and Functionalities
The platform supports various features and functionalities that can prove helpful even to professional traders and seasoned investors. The trading journal allows you to:
Keep Track of Your Trading History and Importing Trades
The users can take advantage of a beautifully-designed and easy-to-use trade history monitoring tool that includes features for both individual trade journal entries and daily trade entries. It also supports image attachments to better represent the circumstances around the particular trade, as well as adding trade remarks and descriptions.
The order import option allows traders to transfer their trading history in CSV or custom files from most top brokers worldwide. After you input your trading history, you can analyze it through fully-featured customizable charts, displaying buy and sell entry points on various time frames. The charts support over 2,500 US equities, the majority of foreign equities, FX, and futures contracts.
Analyze Trading Performance
You can filter and analyze your past trades by date, instruments, applied strategy, instrument rankings, and more. You can also track equity growth over time and generate advanced reports on intraday performance and trading results.
Thanks to the powerful reporting feature, the trader can get a summarized analysis of the best times to trade, the most favorable market conditions, the most common trade duration, the best-performing instruments, and the most successful strategies.
Monitor a Variety of Metrics on Multiple Accounts
The journal features over 30 key metrics that collectively help paint a complete picture of your trading habits, goal tracking, and how it affects your trading results.
If you want to track your open PnL or calculate your risk parameters like profit factor or R-ration of your portfolio, for example, you don’t have to log-in to the platforms of all the brokers you trade with. Trademetria consolidates all your position into one screen and comes up with a collective summary of your performance. The platform also includes a P&L simulator to help traders compare actual profit and loss against potential profitability.
The platform’s goal is to help you find out what statistically works, your win rate and profit factor, whether you are wasting money due to poor risk management, what market conditions you perform better, and what daily habits can ruin your career.
Build a Resilient Risk Management Strategy
The platform helps users build resilient risk management strategies and refine their trading strategies by giving a fair representation of the expected risk before, during, and after you place a trade through the integrated risk management tools. You can also analyze risk in terms of Dr. Van Tharp’s R multiples and auto plot or set your stops and targets and track how you fare to them.
Due to the advanced backtesting features, Trademetria users can run simulations of their strategies and collect statistical evidence of what affects their performance. The backtests ensure easier discovery of areas that need improvement and helps find the best set of trading conditions (entry and exit points, trade duration, and more), depending on the market environment.
Trading Platforms and Integration
Supported Trading Platforms
Trademetria supports over 140 popular trading platforms and brokers, including thinkorswim, Interactive Brokers, and Questrade. This extensive support allows users to easily import their trades and access their trading data in one place, streamlining the process of trade tracking and analysis. The platform is constantly updating its list of supported brokers, so even if your broker is not currently supported, it may be in the future. This ensures that Trademetria remains a versatile and adaptable tool for traders and investors using various trading platforms.
Software and Import Tool
Importing Trades
Importing trades into Trademetria is a straightforward process designed to accommodate traders of all experience levels. Users can import trades manually using a template CSV file, or through auto-sync with their broker via API. This flexibility ensures that you can easily transfer your trading data, regardless of your preferred method. Additionally, Trademetria supports importing trades from multiple accounts, making it simple to track and analyze trading performance across different accounts. The import tool is compatible with various file formats, including CSV, Excel, and JSON, further enhancing its usability and convenience for active traders.
Platform Fees
The best thing about the solution is the flexible payment schemes that make it a universal tool for all types of traders. The platform fees are divided into three tiers – Free, Basic, and Pro.
The Basic option costs $29.95 per month, while the Pro option costs $39.95. If you choose to pay annually, you get a 40% discount, which brings the prices down to $215 and $279, respectively.
The key differences between the Free, the Basic, and the Pro option are rooted in the number of order imports, real-time quotes, and accounts tracked. The Pro plan includes unlimited trade imports, making it ideal for users with extensive trading activity. Also, advanced features like a PnL simulator, instrument and strategy rankings, trade exports, and others are supported only by the paid plans.
It is safe to say that the Free option can suit most beginner and even intermediate traders’ needs. It supports 30 order imports per month, alongside three real-time quotes and dozens of other features.
Starting with the platform takes no more than 15 seconds. You aren’t required to add a credit card, and you can cancel your subscription and your account at any point.
Who Is Trademetria Good For? Active Traders
The platform is used by traders and investors, trading schools, brokers, and proprietary firms. It is also offered as a white-label solution.
In terms of trader profiles, Trademetria suits stocks, FX, CFDs, futures, options, and even crypto traders. It works with the most popular exchanges and brokers worldwide.
Thanks to the supported functionalities like tracking intraday performance, Trademetria is also suitable for day trading. The flexible payment options, especially the fact that it supports a free account, make the platform an excellent choice for advanced trading professionals and complete beginners who can test it at no cost.
Portfolio Tracker and Watch Lists
Create Custom Challenges and Track Goals
Trademetria’s portfolio tracker and watch lists feature is designed to help traders stay motivated and focused on their trading objectives. Users can create custom challenges and set specific trading goals, such as improving their win rate or increasing their profit factor. The platform then allows you to track your progress over time, providing valuable insights into your trading habits and performance. Additionally, the watch list management feature enables users to monitor their favorite stocks, ETFs, or other securities, receiving real-time updates on their performance. By creating custom challenges and tracking goals, traders can maintain a clear focus on their trading business and continuously strive for improvement.
Trademetria Review Summary
Trademetria is designed to cover all the basic features of a trading journal and a portfolio tracking platform, combined in an easy-to-navigate interface. And it does the job perfectly in that regard.
We can say that the trading journal is among the best solutions in terms of value-for-money. It brings everything you need to the table, and the free version delivers a robust set of features the platform has to offer. Trademetria is one of the most powerful state-of-the-art solutions to analyze your online trading activity, getting a clue about your most profitable strategies.
Trademetria Pros and Cons
Let’s close the Trademetria review with the pros and cons of the trading journal.
Pros
- Trading performance tracking
- Web-base platform with full access from everywhere
- Comprehensive analytics functionalities
- Real-time quotes included
- Supports Equities, options, futures, forex, cryptos, CFDs
- API and PnL Simulator
- Offers comprehensive trading journals to help traders document and analyze their trades
Cons
- Recurring costs
Trademetria Alternatives
Trademetria alternatives are Edgewonk, TraderSync, Tradervue, TradeZella, and TradesViz.
Rating: ★★★★★
