TradeZella Review

TradeZella is the market-leading trading journal software. It greatly combines trade journaling with powerful features like backtesting and market replay. Is it good enough to make you a better trader? Let’s find out in this review.

About TradeZella

TradeZella was founded in 2020, and the company has its headquarters in Miami, United States.

The growth of the brand is exceptional. Based on search statistics, only about 200 people searched for TradeZella after the first year. In January 2023, there were already 6,600 people per month, and meanwhile, over 20,000 people searched for the brand TradeZella every month, using Google search alone.

The excellent balance of trading journal features and costs makes TradeZella a great choice, especially for traders.

Trading Journal

The web-based trading journal includes an analytics dashboard with advanced filtering, profitability charts, KPIs like winning percentage, a notes and comments section, and a calendar view.

Within the trading journal, you can track your progress in real-time, sync trade entries and exits, identify profitable setups and those that you should drop, and it helps you to understand risk management better.

The reporting within the trading journal quickly answers your questions like what were the best and worst trading days, what are my best trade setups, are there times where I’m only unprofitable, and more.

Based on your trade journal findings, you can then build your trading plan by using the fully-integrated notebook. Here you can create custom trading strategy templates and sync the results.

Backtesting and Market Replay

The new Backtesting 2.0 engine of TradeZilla is impressive. They use a white-labeled version of TradingView, and you can use it to replay the markets of your choice on any time frame, with custom indicators, order entry, and more. You can check your P&L, set the replay speed, journal your session or executions, and more.

What’s really cool is the multi-timeframe analysis and multi-chart analysis, which lets you analyze trends on different time frames, helping you to optimize your trading MTF strategy.

The available time frames go beyond what you likely expect. Yes, there are monthly, weekly, and daily time frames, and also minute-based time frames like the 60-minute, 15-minute, and 1-minute charts. But you can go even further and use the seconds time frame.

Overall, you can access over a decade of historical data and replay and test market behavior on historic data for the available assets of forex, crypto, stocks, and futures.

Trade Replay

The trade replay feature is only included in the Premium Plan. With this tool, you can go back in time and replay any trade you have journaled at speed rates of 1x, 2x, 10x, 20x, or 30x, with times and sales data and even Level II data. This feature helps you identify potential mistakes you made. Maybe you traded against your rules, and you can now find out what you might have done wrong.

The difference to the backtesting/market replay feature is that the trade replay lets you replay imported trades, while the backtesting/market replay feature lets you make trades in the past.

Education

TradeZella created an education hub called Zella University to help beginners better understand the features and functionalities of the trading journal. You can attend free webinars or watch recorded videos. In addition, you can join a trading community with thousands of traders or read the user guides and content. And in case you have any questions left, contact customer support.

Costs

There are two TradeZella plans, the Basic Plan and the Premium Plan. Both are available on a monthly and annual subscription level.

Here is a quick comparison of both plans:

Bottom Line

TradeZella is a great choice for active traders who enjoy the convenience of automated synchronisations between their broker and the trading journal.

The list of supported brokers and platforms reads like the who’s who of big brokerage brands. Charles Schwab, Interactive Brokers, Robinhood, Webull, and TradeStation are all compatible, as well as platforms like MetaTrader4, MetaTrader 5, NinjaTrader, Tradovate, Thinkorswim, and TradeLocker.

If you have only one trading account and don’t need the trade replay feature, the Basic Plan is your best choice. If you have multiple portfolios or want to use the session trade replay feature, you have to choose the Premium Plan.

Pros

• Automated trade importing from 30+ brokers, so you don’t have to enter trades by hand
• Deep backtesting with decade-long historical data and multi-chart support
• Over 50 detailed reports for insights into your trading

Cons

• If you have more than 1 account, or if you want to use the market replay feature, you need the more expensive Premium Plan.

TradeZella Alternatives

There are several trading journals available as alternative to TradeZella including Edgewonk, TraderSync, Tradervue, TradesViz and Trademetria.

FAQs

What Is Tradezella Good For?

TradeZella helps you improve your risk management, discover your best and worst trading days, understand the trading setups and help you scale up your trading fast.

Who Is the Owner of Tradezella?

Umar Ashraf is the owner of TradeZella. He founded the company in 2020. TradeZella has grown substantially and is now the market leader in the trading journal niche.