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Virtual Trading Journal: TraderSync Review

TraderSync (TS) is a Virtual Trading Journal that captures your trades in seconds, boosts your performance, and identifies which patterns work best for you and which patterns you need practice on. You can also auto-import your trades easily from almost every major broker.

 

Use the following referral link and promo code below created for Sniper Trades members:

 

SIGN UP USING OUR CODE

 

TraderSync Promo Code: “snipertrades

 

You will receive:

 

55% off on annual plans (up to $44 off/month)

or

15% off monthly plans (up to $12 off/month)

 

Watch video tutorials by clicking the link below to see if this program is right for you:

 

VIDEO TUTORIALS

The TS online trade journal offers many different tools to identify mistakes and improve your trading skills. They evaluate the days, times, and volume and allow you to set rules for trading. The software offers pricing plans that determine access levels, including Basic, Pro, Premium, and Elite. The Basic plan is free, and pricing goes up to $79.95 monthly for the Elite Plan.

 

Who It’s Best For:

Experienced Traders & Professional Traders

 

Pros of TS:
  • TS offers many tools, including a trade journal, tagging, data, a simulator, and management
  • There is a multi-tier pricing structure ranging from Basic to Elite plans
  • The company uses Amazon Cloud services, encryption, and stores data in multiple locations

 

Cons of TS:
  • Phone support for customer service is not available, and online support is limited to between 9 a.m. and 5 p.m. EST
  • The level of service depends on the plans, with the Basic plan receiving the fewest tools

 

TraderSync Tools:

TraderSync offers trade journaling, tagging, reporting, filtering, portfolio adjustments, an evaluator, a pattern simulator, and management tools. Tools seamlessly integrate with each other to deliver valuable, aggregated insights that you can use to understand your trading performance.

 

Let’s break down the most popular tools they have:

 

Online Trading Journal

The TS journal is the core of the application. This is where you can record your trades by adding them manually, uploading them, or directly connecting with your broker. Once you upload your trades, the software encourages you to review each of them, tag them with the setup(s) you used, and tag them with any mistake(s) if you made any during the trade.

 

They made this process joyful and frictionless, allowing you, as an active trader, to easily input your notes, screenshots, and tags into each trade. Reviewing the trade allows you to reflect on it and view the entry and exit points on the chart to know exactly when you took the trade. For any active technical trader, having this interactive chart showing the orders you took on the chart is a game changer when reviewing trades.

 

Reporting

Here is where any active traders will spend their post-market review time. Once you’ve logged your trades during trading hours, you can come to these reports and identify opportunities for improvements.

 

For example, TraderSync reports can answer questions like:

  • What are the highest-performing setups that deserve my attention?
  • In what circumstances do these top-performing setups excel so I can prioritize them?
  • Is there a setup where the profit factor is strong, but I might not be trading it as frequently as others?
  • What are the most costly mistakes I need to steer clear of to preserve my capital?
  • Do I tend to generate greater profits by trading small-cap stocks with a specific setup and a particular range of entry prices in the morning?

We can obtain answers to pretty complex questions using their filters. Yet, for those who do not have the time, the AI can report important information within your trading patterns that may be difficult to find otherwise.

 

The AI Reports

The AI can dramatically save you time when reviewing reports and identifying your edge. Technically speaking, the AI looks into all your trading data and determines if there is a positive or negative correlation between you being profitable, what you’re trading, and how.

 

The AI can give you insights, such as:

 

Your most effective trading strategy is the “Gap and Go,” which works best during the morning hours from 9:30 a.m. to 11 a.m., particularly when trading stocks priced between $1-7.

 

Rather than spending hours or days sifting through data to uncover valuable insights, TraderSync AI streamlines the process and saves you time by pre-mining the data for you, allowing you to focus on executing more informed and profitable trades, refining your strategies, and making better trading decisions with confidence. This efficient data analysis can give you a competitive edge in the fast-paced world of trading.

 

Evaluator

Active traders often find it tempting to veer off their established path and explore new trading setups during days when the market undergoes significant changes. When active traders begin integrating or modifying their strategies to align with evolving market conditions, it can become challenging to monitor their progress effectively.

 

The Bottomline: Active traders aim to assess the performance of various setups or trading patterns to identify a competitive advantage.

 

This is where the evaluator becomes essential. The evaluator enables you to compare trading patterns and evaluate their historical performance.

 

For instance, you can use it to determine how well your Gap-and-Go strategy has been faring compared to the BullFlag setup in the past 30 days, specifically for stocks priced between $3-10.

 

Day traders are constantly adapting to changing market conditions. By regularly evaluating the effectiveness of their trading patterns, they can optimize strategies over time. These critical inquiries should be addressed with clarity when engaging in day trading.

 

Simulator

After identifying the setups you want to focus on, use the simulator to make the most of the Reports and Evaluator tools. The TraderSync simulator enables you to create “What If” scenarios to assess whether there’s an advantage in your chosen trading approach.

 

For instance, consider this scenario: What if you exclusively traded the BullFlag setup during morning sessions, taking long positions, specifically on Wednesdays and Fridays?

 

Utilizing your trading data, the app will construct a scenario that illustrates how you would have performed following these criteria. This analysis helps you ascertain whether you would have gained an edge in such trading conditions.

 

Management

After utilizing the previously mentioned tools, your next step is to establish a set of trading rules based on the insights gained that form your trading edge. Identifying an edge is one thing, but effectively understanding and executing trades within well-defined rules that optimize your performance can be more challenging.

 

With its management tools, you can outline your trading rules and closely monitor your adherence to this plan. Simultaneously, TS will construct an equity curve, providing a visual representation of your expected performance if you exclusively follow those rules.

 

We found this to be a highly valuable feature as it helps any active trader stick to their rules. This not only enhances the potential for success but also helps in managing risk and emotions during the trading process.

 

Dashboard

This is where everything comes together seamlessly. The dashboard is thoughtfully designed and fully customizable to ensure you can monitor precisely what matters most to you. TraderSync provides over 40+ metrics widgets you can incorporate and arrange in a way that aligns perfectly with your requirements and preferences.

 

TraderSync Pricing

TS has four levels of pricing: Basic, Pro, Premium, and Elite

 

The Basic plan provides free access to journaling your trades by manually adding your executions into the application. You can still access certain reporting, which is a great alternative to a spreadsheet journal.

 

The Pro is $29.95 per month and includes additional benefits to help you save time and gain more insight.

 

The Premium is $49.95 per month—this plan allows you to delve deeper into your reports by harnessing the power of the evaluator and simulator tools. This enables you to gain a more profound understanding of your trading edge.

 

The Elite is $79.95 per month. This package takes your trading experience to the next level. It offers AI reporting to help you pinpoint your trading edge and incorporates the management tool to ensure you remain aligned with your trading rules. This package is designed to maximize your time-saving and performance-enhancing capabilities.

 

TraderSync Supported Assets

TS offers support for a wide range of trading instruments, including stocks, futures, futures options, options, forex, and cryptocurrencies. For options traders, TraderSync stands out as the only tool capable of detecting, categorizing, and automatically tagging your trades with the relevant Option Spread for the most commonly used spreads. This feature can be especially valuable for those involved in options trading, streamlining trade analysis, and reporting.

 

TraderSync Customer Service

You can reach the app’s customer service through email, chat, or a support application on their website. Their customer service hours are from 9 a.m. to 5 p.m. EST. Additionally, they provide a comprehensive tutorial video library on their website, which offers step-by-step guidance for resolving common issues, reducing the need to contact customer service for assistance. It’s worth noting that phone support is not offered, and customer service operates on a five-day-a-week schedule. Occasionally, there may be delays in their response times when reaching out to customer service.

 

TraderSync Mobile App

The mobile app allows you to download from Google Play or Apple App Stores. Some users have found the app to be a bit challenging at first, but after going through the tutorial videos, they could successfully use it with the desktop features.

 

Nothing on Google Play nor the Apple Store comes close to what this application offers regarding journaling tools through the mobile app. This one is even free to use.

 

TraderSync User Experience

Using TraderSync can involve a learning curve, as it takes time to become familiar with its features and functionalities. Members who have invested time in watching the various tutorial videos have reported significant improvements in their understanding and ability to use the platform effectively. Patience is key, as it’s a gradual process to grasp how TS operates and fully recognize its potential for enhancing your trading skills. Dedication to learning and practicing with the platform can ultimately lead to better trading outcomes.

 

TraderSync User Benefits

You can see the many benefits of using this software below:

  • Gain eye-opening insights from journaling your trades on TS.
  • Easily track your trades by uploading them.
  • Track which strategies are working and which are not for you.
  • Understand and avoid which mistakes are costing you the most.
  • Modern, pleasing to use, and intuitive trade journal.
  • Artificial intelligence helps determine hidden gems and is a time saver when browning through reports.
  • You can easily access your journal from any computer or through their mobile app.
  • Different levels of pricing are available.
  • The service identifies weaknesses in your trading and creates guidelines to help you improve it. You make fewer mistakes and know the best times, days, and what to look for to set up successful trades in the future.

 

TraderSync Security

All your information on the app is securely stored on Amazon Cloud Services with the added protection of encryption technology. This data is replicated across multiple locations to guarantee its availability to you at any time. Amazon Cloud Services and storage in multiple locations offer multiple layers of security, assuring you can access your TraderSync information with confidence and reliability whenever you need it.

 

TraderSync Overall Rating

The TS software is an outstanding platform for enhancing trading patterns by facilitating trade journaling. It offers a superb user experience that makes tracking trades and analyzing performance enjoyable. The software’s flexibility and robust reporting capabilities make it an indispensable tool for every active trader, helping them maintain a favorable edge in the ever-changing financial markets.

 

It also offers a 7-day free trial, providing full access to all the available tools and allowing you to explore and evaluate their offerings before committing.

 

TraderSync vs Competitors

The difference between TS and their competitors is:

  • Uses artificial intelligence
  • Offers a free trial
  • Has a multi-tier pricing structure
  • Allows you to see and learn from your mistakes
  • Allows you to find your optimal trading setup and market environment that is the most profitable for your trading plan

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