Online Trading JournalIt's amazing how long it has taken for someone to create an online trading journal that's simple to use, but powerful. There are a few packages out there, but they just didn't "feel" right, or are too costly. TradeStation has a good trade analysis package already built in, but I believe this is a 3rd party product that they purchased at least 15+ years ago and have done little to really improve it. It still works well, but not for daytraders or for trading journal purposes.
One of the challenges with tracking setups is to try and keep things as simple as possible, both for the actual journal upkeep, as well as categorizing the setups for future analysis.
I looked for a good trading journal software package, but couldn't find anything, so I've stuck with Excel.
That is, until today. There's a new online trading journal that went live today at Tradervue.com, and it seems to have nearly everything I'm looking for.
I really like the ability to add tags to trades, so that you can filter your analysis based on what type of trade, rating of the setup, etc. Uploading of data is pretty simple (a TradeStation importer is currently being built, LightSpeed, IB and others already supported).
Best of all, this online trading journal is free. Not sure if there's some other fees planned in the future, etc., but for now, it's looking pretty compelling for what I'm interested in and how I want to operate.
Here's an example of a trade I took today via Tradervue.com:
One the cons I've found to date is that it's a bit difficult to see the entry and exits on their charts, but at least they are created automatically. It would also be nice for them to allow embedded/linked images on your journals entries, so that you can review your own screen printed charts.
We'll see if this eventually makes me switch over from Excel...
I'm keeping my fingers crossed that this free Tradervue product makes it.