Whether you’re new to trading or a seasoned veteran, successful traders always look for ways to improve and optimize their trading strategies and keeps a close eye on their investments. However, it can be hard to keep track of your trades.
Traders used to track trades using complex spreadsheets but have since evolved into using trading journals like TraderSync. In this article we’ll cover some of the useful features TraderSync has to offer, but if you’re looking for a more in-depth look then you should look at a more detailed TraderSync review.
What is TraderSync?
Through its online trading journal, TraderSync makes it simple for day traders to monitor, track, and analyze their trading behaviors across multiple platforms simultaneously.
Amongst online trading journals TraderSync is fairly unique thanks to its AI powered insights. These insights are a valuable tool for active traders due who need fully automated trade history imports due to the volume of trades they have going at any given time.
TraderSync’s use of AI powered insights is especially useful if you find yourself abandoning your set strategies when your emotions are running high.
In addition, the automated sync feature lets you keep track of hundreds or even thousands of trades per month with zero effort and although these don’t happen in real-time there is only about a 30-second delay between the platform and your live trading event.
TraderSync offers the ability to determine which strategies work best for you, assuming you’re an active trader in stocks, forex, options, or futures.
What features does TraderSync offer?
TraderSync gives different features based on the tier you subscribed to in their pricing plan.
It offers some limited free analysis on manually entered data. However, they aren’t really worth diving into, as their free tier of features is essentially a lite version of their pro plan.
Pro Plan
Coming in at just under $30 per month, the Pro plan gives you access to the majority of the platforms services. These include pricing reports, volume reports, setup reports, mistake reports, weekly reports, and even hourly reports across a variety of different assets. at this tier you’ll also get access to their mobile app so you can view your account even when you’re on the move.
Additionally, the Pro plan gives you the ability to do mistake tracking, allowing you to actively and tangibly improve your trading strategy.
Premium
Coming in for an additional $20 per month, Premium offers all of the features form the Pro plan plus some additional ones. These include a sector, evaluator, market cap, and interestingly a simulator report.
The simulator report is especially interesting if you’re planning on diversifying your current holdings or looking at alternative investment strategies. As it will allow you to test out any idea you might have, with no additional capital risk.
Additionally, the Premium plan allows you to track your running profit and loss, so you can make adjustments to your trades to compensate for any poorly performing positions.
Elite
The Elite plan is TraderSync’s most expensive subscription, costing $79.95 per month in total. However, it is also the only one to incorporate the platforms advertised AI into the features that are available. AI-powered insights and evaluations of your trades, offer a one-of-a-kind opportunity to enhance your trading abilities, without you having to learn a new set of skills or discuss alternative strategies.
On top of that the Elite plan allows you to set up automatic target/stop losses tracking, automatic spread detection, management features, and the ability to test backlogged market data.
Although expensive, the Elite plan offers the most features and many more than are traditionally available from trading journals.
How does TraderSync compare to other platforms?
Although no single journal will instantly make you a great trader, TraderSync offers some of the most in terms of features. There are a few competitors in the market including, Edgewonk, TraderVue, and TradeMetria, but most if not all of these do different things.
TraderVue, is the most similar to TraderSync, however it’s main drawback is that it does not offer those AI powered insights like TraderSync. It does however, offer more for beginner traders. To find out more you should look into a TraderVue review.
The next closest comparison would be TradeMetria, which can be used by day traders, albeit with significant time delays and not as much support. They are far more focused on newer traders and if you’re interested in seeing a comparison you can read this article going over TraderSync vs Trademetria review to see which one suits you best.
If you’re not a day trader than something like Edgewonk is probably the route to go. They have a relatively low cost to entry for a trading journal with a simulator built in. Meaning you can start running tests immediately. There only drawback comes from the complexity in using the actual platform. To find out more you can look into this Edgewonk review.
Should I use TraderSync?
Ultimately it’ll be up to your discretion if TraderSync is the right platform for you. They have a lot of amazing features, however, they are fairly cost prohibitive. If you’re interested in other trading journals then you might want to check out this article on the best trading journals.
But if you’re ready to dive into the world of AI assisted trading then you can also go directly to TraderSync and see what they have to offer, and if it fits your trading style.
Disclaimer: This article contains sponsored marketing content. It is intended for promotional purposes and should not be considered as an endorsement or recommendation by our website. Readers are encouraged to conduct their own research and exercise their own judgment before making any decisions based on the information provided in this article.
