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Trader Sync Review 2023: Is This the Best Platform for Day Traders?

Are you tired of manually tracking your trades and struggling to find a reliable trading journal?

As a day trader, you know that every second counts, and having a platform that can keep up with your fast-paced trading is crucial.

In this TraderSync review, we'll go through the features, pricing plans, and overall user experience of this popular trading journal platform.

From its ability to automatically import trades to its advanced management and analysis tools, we'll break down everything you need to know to decide if TraderSync is the right choice for you.

What is TraderSync?

TraderSync is a comprehensive trading journal that allows you to analyze your past trades in a detailed manner. The platform offers features that go beyond traditional note-taking for personal trades.
You have the ability to create distinct categories for trade setups and mistakes, and with this, you can quickly identify patterns and trends in your trading activity.

Additionally, you can use the software to quantitatively model the potential impact of different strategies or the elimination of specific mistakes on your overall profit and loss.

Is this the best trading journal out there? Let's find out as we explore the features.

Features of TraderSync

1. Trading Journal
You can add notes to each trade you make and attach screenshots of the price chart. The software also automatically marks your entry and exit points on the chart and keeps track of trade details such as stop loss and target levels.

2. Setup and Tagging
You can categorize your past trades by creating tags for trade setups and trade mistakes. This feature allows you to easily identify patterns and trends in your trading history and gain valuable insights into your performance.

3. Simulator and Evaluator
You can analyze your trade data with the evaluator and simulator modules. Instead of just looking at individual variables, these tools allow you to dig deeper into your data and compare the performance of different trade setups.
You can also combine this performance data with other factors, such as the day of the week, entry volume, and entry price.

4. Data Reports
It's like having a personal assistant for your trading history. It tracks all the juicy details of your trades, like the day of the week you made that killer move, the exact time you hit the buy button, and even the sector of the market your investment belonged to.

And let's not forget about the volume you traded because that's important too!

Other features include:
Trade Management: Allows you to create a rules-based trading plan and set automated stop loss and profit target levels for your trades.
Customization and layout: The software allows you to customize the layout and interface to suit your preferences.
Compatible brokerages: TraderSync is compatible with most trading platforms, so you can import trades automatically.

How Much Does TraderSync Cost?

TraderSync offers four pricing options for you to choose from. The Basic plan is free of charge, but it only provides access to the basic features of the software, such as tagging setups and mistakes.
You would need to enter all your trades manually and have limited analysis tools to help you improve over time. Additionally, you need to link your Twitter account and allow them to post on your behalf whenever you close a trade.

The Pro plan is available for $29.95 per month or $312 per year, which grants you access to more features, such as the ability to import trades automatically from most trading platforms, track your profit and loss by various variables, and track commissions and fees.

The Premium plan, which costs $49.95 per month or $521 per year, provides you with the evaluator and simulator features, which allow you to dive deep into your trading data and model potential profit and loss.

The Elite plan, which costs $79.95 per month or $834 per year, offers trade management. With this, you can create a rules-based trading plan and provides additional data insights through artificial intelligence. It also allows you to set automated profit and loss target levels for your trades.

The Pros and Cons of TraderSync

● Automatically tracks a wealth of metadata for each trade
● Create unlimited trade setup and mistake tags for easy analysis
● Automatically import trade data from over 100 different brokers
● Use the evaluator to see how your trading habits affect your P&L
● Basic trade journaling features are available for free

● Limited customization options for the evaluator
● The trade management module could be improved for ease of use

TraderSync Alternatives

If you're looking for an alternative to TraderSync, there are a few options out there. One popular choice is Edgewonk. It's a comprehensive trading journal that helps you analyze your performance and improve your strategy. Another great option is Tradervue.

It's a cloud-based journal that allows you to easily track and analyze your trades. Edgewonk and Tradervue offer similar features to TraderSync, such as trade tracking, performance analysis, and customizable tags.

Is TraderSyn Worth it?

While it's true that the basic plan has some limitations and you'll have to manually import your trades, the premium plans offer some great features that are definitely worth considering.

Plus, the pricing is pretty reasonable, and you can even test it out for free with a 7-day trial! With TraderSync, you can track your trading activity within seconds, which is a huge plus.

And the best part? It's not just limited to stocks. You can use it for other types of trading too. So, if you want to give it a try, click here and start your free trial.

Jeudi 2 Février 2023