So, as you’ve come across our Tradervue review, then 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.
Tradervue Special Offer: Click here to try the trading journal for free
What Is Tradervue?
Let’s start our Tradervue review with the basics. Tradervue is more than just a trading journal software. It is a combination of a social media platform for traders and a trading journal. You can use it to keep track of your trades and share your trading history with other users from all around the world. Tradervue was founded in 2011 by Greg Reinacker, former founder and CTO of NewsGator. The platform was born from the founder’s necessity of having a tool that allows traders to review their trading history.
After he saw that such a solution has the potential to benefit the whole trading community, he released the platform to the public. You may wonder if it is worth paying for a service if you can write down all your trades in MS Excel, for example. And you will be right. You can keep track of your trades and even create some sort of profile analysis, if you have the skills, and it won’t cost you anything. However, the problem is that many traders lack the persistence to perform such a tedious task day-by-day.
Tradervue helps you keep track of your trading history by supporting automated trade import directly from the broker. Having all your trading history at one place in an organized way and being able to search through is convenient and helpful if you want to up your game. You can even share the trades you’ve made with fellow traders and receive feedback or use them as an example to give advice.
Why Is Having a Trading Journal Important?
Trading is a complex process. To be successful, one should have the needed skills, confidence, and self-control. However, none of this has helped the most successful traders on their way up as much as self-analysis. Self-analysis is a process of taking a moment to acknowledge your mistakes. That way, you can figure out what has lead to the situation you are in and get prepared to avoid the same mistakes in the future.
When it comes to trading, even a single mistake can wipe out your portfolio. Many traders have learned that the hard way. That is why it is essential to keep track of your mistakes and self-improve to become a better, more focused, and confident trader. And the best way to do that is by relying on a trading journal like Tradervue.
We came to one of the most important parts of our Tradervue review – the platform’s features. They can be divided into three categories – journal, analysis, and sharing. Let’s take a look at each of them:
Tradervue allows you to import trades for different asset classes, including stocks, futures, and FX. The software allows you to take advantage of a variety of functionalities. Let’s start with the automatic price charts, for example. Once you add a trade in your journal, you can generate and review charts on multiple timeframes (from 1 minute to weekly intervals), alongside with the buy/sell points. You can also take trade and daily notes to make it easier for analysis when you get back to the particular trade at some point. To organize your history and put everything in order, you can also add tags and filter your trades. Once you do that, you will be able to easily organize, filter, and analyze your trades with just a few clicks.
Another great feature of the Tradervue platform is the Chart Studies. With their help, you can replicate the exact same trading environment as the one when you bought/sold the asset.
The best thing about the platform is that it supports over 70 brokers. Among the supported platforms and brokers are cTrader, E-Trade, Schwab, Plus500, TD Ameritrade, MetaTrader 4 and 5, and more. You can find a full list here. So, it is safe to say that there is a very slim chance you won’t be able to import your trade history. You can also upload information stored on a text or MS Excel file.
The cream of the Tradervue platform is the report and analysis tools. Based on the imported data, Tradervue automatically creates charts with all the trade entries and exits marked. The platform can generate a variety of reports, both intraday and multiday. Some of them include:
- Comparison reports
- Statistical reports
- Risk analysis reports
- Liquidity reports
- P&L overviews
- Win % and trading volume reports
- Reports based on tags
- Tick-based reports
It is worth noting that some of the reports are available only for the paid plans.
Tradervue has your back even if you are involved in day trading or trading multiple currencies. The P&L reports, for example, are available in native and base currencies, which saves you time and the hassle of manual work.
Last but not least, comes the option to share your trade history and performance information with the trading community. The social media platform feature gives you several opportunities. The first is to choose whether to share your trades and tell others more about what your plan was, whether you stick to it, and what the outcome was. Make sure to share not only your successful trades but also your losing ones. Not everybody is a winner, and you will always learn more on your losing trades, rather than on your winning ones.
With Tradervue, you don’t have to share anything if you don’t want to. You can also choose which particular trades you want to share and restrict sensitive information like the P&L statements. Another great advantage of the sharing feature is that you can find out if someone else is trading the same symbol as you and take a look at their notes. That way, you can compare yourself with others and steal ideas and insights.
The sharing features are an excellent choice to get feedback from the community, gain valuable know-how, and exchange ideas. So, make sure to consider taking advantage of the social media element. And don’t forget to share information that is rather educational than personal.
Plans | Pricing
Our Tradervue review can’t go without focusing on the financial side. The Tradervue journal comes with three plans – free, silver, and gold. Here is more about each of them:
Free plan: Includes a basic journal with 100 stock or ETF trade entries per month. You can generate overview and detailed reports about your trades, as well as share your trading history. You can also take advantage of automatic price charts on multiple time frames. You can activate it within seconds with just your email address.
Silver plan: Aside from all the features included in the free plan, for $29 per month, the silver plan gets you unlimited trade entries, more than 100 advanced reports, MFE/MAE statistics, multiple trading accounts, and much more.
Gold plan: This plan includes everything from the free and silver plans, as well as risk tracking and reporting features, exit analysis, liquidity reports, and more. The price of the gold plan is $45 per month.
If you aren’t sure which plan is the best choice, make sure to start with the free one. Take your time to explore the platform and get familiar with it. If you are a day trader or often generate more than 100 stock trades monthly, switch to one of the silver and gold paid plans. The good thing is they have 7-day free trials you can subscribe for. That way, you will explore both options and choose which is the best choice for you.
Tradervue Review Summary
There are several factors that can determine whether Tradervue is the right choice for you. For example, how deep you want your analysis to be, is social interaction essential for you, do you like the platform, how much are you willing to pay for a trading journal, do you plan on trading 100 stock instruments per day or more, etc.
To give a more practical answer, let’s see how Tradervue compares to other solutions on the market. The main competitors are Trade Insights and Edgewonk. The first one is free, while the latter is offered at a one-time payment along with a trading course and more comprehensive features. 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 costs $169 per year.
Costs per year:
|Trading Journal||Costs 12 Months||Costs 24 Months||Costs 36 Months|
I recommend you to read the blog posts best trading journal and the Edgewonk review before making your final decision.
How and Who Should Use Tradervue?
At first, you may feel confused about how to use Tradervue. This will most probably be due to the abundance of features and functionalities. Partial or entire trade history sharing, imports, analysis, report generation, and so on – there are many things you may struggle with when starting. However, the good thing is you can find the questions to all of your answers through Tradervue’s in-depth tutorials. There is also a Help section with informative step-by-step guides that cover how to use every feature of the platform.
The Tradervue platform is suitable not only for day trading professionals, advanced traders, and tech-savvy individuals but also for beginners. Thanks to the abundance of educational materials, even first-timers can get up to speed and learn how to keep a functional trading journal.
To conclude our Tradervue review, let’s take a look at Tradervue’s pros and cons.
- Easy-to-use trading journal and trading social media platform
- Advanced features to help you analyze your trading history
- Flexible pricing options with a free plan included for 100 stocks
- Monthly subscription costs cumulate over time to higher amounts
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