TraderVue is a comprehensive tool for tracking and analyzing trading performance. The platform is best suited for active investors and traders, meaning if you prefer passive investing than it might not be a great option for you.
TraderVue offers you a lot in terms of analysis, including liquidity reports, risk analysis reports, and loss charts to name a few. Basically, they make it easy for you to track and analyze your trades regardless if it’s in stocks, options, or futures.
Best of all TraderVue allows you to import trades from multiple broker, so no matter where you’re trading on, they’ll probably be able to import and analyze your data. In this article we’re going to go over TraderVue and how they compare to their competitors. If you’re interested in a more in-depth look at the platform then you might want to look at this TraderVue review.
Why use TraderVue?
If you’re asking yourself if TraderVue can actually improve your trading, the answer is pretty clear. They over an easy-to-use interface allowing you to keep up with your trades in real time. Even if you are new to trading, the performance tracking and analysis tools they offer are invaluable to understand how your entire portfolio is doing. Best of all the interface of TraderVue is simple to use. Additionally, you can also set up your account and track your trades in a way that works best for you thanks to the interface’s extensive customization options.
The user-friendly user interface feeds into the fact that your trade entries are unlimited. Meaning you can keep track of an unlimited number of trade entries. This makes it simple to monitor your trading performance over time. If you are an active trader this is a must have feature to help you track your own progress.
And that’s across multiple asset classes, including stocks, options, futures, and almost every other asset class. Regardless of your preferred trading strategy, this makes it simple to keep track of and analyze your trades across multiple asset classes, and allows you to create unique hedging strategies, just like a private equity firm with dozens of analysts.
What’s the catch?
Although there is nothing inherently wrong with TraderVue there are two major factors that might not make it a perfect match for you and your trading strategy.
First and foremost, it’s expensive. So, if you’re on a tight budget and looking for tools that won’t put a dent in your bank account, TraderVue might not be what you’re looking for. The highest tier membership comes in at $49 per month and although not astronomical, it does make it one of the more expensive options on the market.
The second big drawback is that TraderVue does not support real-time data. Meaning if you’re looking for analytics to be done so you can make a trade in the moment you won’t be able to use the platform for assistance. This asynchronization is most likely due to the quantity of transactions monitored across the platform, and the quality of their analysis.
How does TraderVue stack up to its competitors?
The problem with tools especially related to the financial markets is that it’s kind of like comparing apples to oranges. Different tools fit different people and trading strategies better than others. The best trading journals currently available on the market right now though are widely considered to be TraderVue, TraderSync, Edgewonk, and Trademetria.
All have there pros and cons but for right now we’ll look at them through the lens of how they differ from TraderVue.
The TraderSync platform is very similar to TraderVue in terms of functionality. It’s main difference outside of price (it’s close to double the price), is that it give AI insights and only has a 30-second delay before importing trades. This makes it the ideal tool for day traders. For a more in-depth review you should check out a TraderSync review.
Trademetria differs from both TraderVue and TraderSync in the fact that it is heavily focused on swing traders outside of conventional day traders. As a result, they include back testing and goal tracking to optimize trades. Additionally, coming in at $39.95 a month, they are cheaper than the other two options listed. For a more in-depth look at the platform you can check out this Trademetria review.
Rounding off the competitors, Edgewonk is the cheapest of the platforms in this list. Unfortunately, their price is indicative of their performance. That is not to say that they are a bad option as a trading journal, however, compared to the other three they offer the least features and analysis. One standout point about them though is their trade simulator, which can be very advantageous to test strategies. To learn more check out this Edgewonk review.
Should I use TraderVue?
Depending on the type of platform you need TraderVue might be a great fit for you. They offer some of the most in-depth analysis tools on the market. This means you can get tangible insights into the trades your making and constantly improve your trading ability. If your interested in signing up or seeing the platform directly then you can click this link.
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