{"id":1022281,"date":"2022-11-13T14:58:08","date_gmt":"2022-11-13T21:58:08","guid":{"rendered":"https:\/\/www.tradingheroes.com\/?page_id=1022281"},"modified":"2024-06-12T23:15:33","modified_gmt":"2024-06-13T06:15:33","slug":"best-trading-journals","status":"publish","type":"page","link":"https:\/\/www.tradingheroes.com\/best-trading-journals\/","title":{"rendered":"Best Trading Journals"},"content":{"rendered":"<p>A trading journal is essential to becoming a successful trader.<\/p>\n<p>It shows you how you're performing and helps you see what you're done wrong. And more importantly, it can show you how to improve.<\/p>\n<p><strong>If you want to take your trading to the next level, you need to have a journal.\u00a0<\/strong><\/p>\n<p>So here are the top solutions that I've used, along with the pros and cons of each.<\/p>\n<h2>TraderSync &#8211; The Fully Automated Solution<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1022295\" src=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/tradersync.jpg\" alt=\"Tradersync trading journal\" width=\"1291\" height=\"591\" srcset=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/tradersync.jpg 1291w, https:\/\/www.tradingheroes.com\/wp-content\/uploads\/tradersync-768x352.jpg 768w\" sizes=\"auto, (max-width: 1291px) 100vw, 1291px\" \/><\/p>\n<p><em>This is the ultimate trading journal.\u00a0<\/em><\/p>\n<p><strong>If you want to log in to a website and see all of your stats without doing anything after the initial setup, then this is the best solution.\u00a0<\/strong><\/p>\n<p>I started <a href=\"https:\/\/www.tradingheroes.com\/my-heroes\/\"  data-wpil-monitor-id=\"7\">Trading Heroes<\/a> in 2007 and a solid trading journal is the one piece of software that has always been missing in the trading world. There were no complete solutions available to independent traders.<\/p>\n<p>We were stuck with using complex Excel sheets and Word documents for screenshots. A few decent software solutions came out over the years, but they were always missing a few key features. In addition, most of the software was specialized and only worked in 1 or 2 markets.<\/p>\n<p><em><a href=\"https:\/\/www.tradingheroes.com\/tradersync\">Tradersync<\/a> changes all that.\u00a0<\/em><\/p>\n<p>It's a complete solution for stock, futures, options, crypto and forex traders.<\/p>\n<p>Here are the pros and cons&#8230;<\/p>\n<h3>Pros<\/h3>\n<ul>\n<li>Automatic broker sync<\/li>\n<li>AI based trading feedback<\/li>\n<li>Almost every useful metric that traders use<\/li>\n<li>Customizable dashboard<\/li>\n<li>Market replay simulator<\/li>\n<li>Journal all major markets<\/li>\n<li>Upload screenshots<\/li>\n<li>Take notes on every trade<\/li>\n<li>Track commissions and fees<\/li>\n<li>Tags for filtering trades<\/li>\n<li>Mobile app available for both iOS and Android<\/li>\n<li>And more!<\/li>\n<\/ul>\n<h3>Cons<\/h3>\n<ul>\n<li>Monthly fee<\/li>\n<\/ul>\n<p>So if you don't mind the monthly fee, Tradersync is a fantastic solution for all the markets you trade.<\/p>\n<p>Try it <a href=\"https:\/\/www.tradingheroes.com\/tradersync\">for free here<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<h2>NakedMarkets &#8211; The Partially Automated Solution<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1022299\" src=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/Screen-Shot-2022-11-13-at-2.40.37-PM.png\" alt=\"Backtesting results\" width=\"1353\" height=\"686\" srcset=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/Screen-Shot-2022-11-13-at-2.40.37-PM.png 1353w, https:\/\/www.tradingheroes.com\/wp-content\/uploads\/Screen-Shot-2022-11-13-at-2.40.37-PM-768x389.png 768w\" sizes=\"auto, (max-width: 1353px) 100vw, 1353px\" \/><\/p>\n<p>Yes, NakedMarkets is primarily made for <a href=\"https:\/\/www.tradingheroes.com\/backtest-multiple-symbols\/\"  data-wpil-monitor-id=\"208\">backtesting<\/a>.<\/p>\n<p>But stick with me because I'll show you why it's also a great trading journal solution.<\/p>\n<p>When you break it down, there are basically 2 parts to a trading journal:<\/p>\n<ul>\n<li>Statistics<\/li>\n<li>Analysis of those statistics<\/li>\n<\/ul>\n<p>The statistics are obvious, it's the win rate, average profit per trade, etc.<\/p>\n<p>If you want to improve your performance, then you're going to have analyze those statistics to see if there are any behaviors that you can change to improve your results.<\/p>\n<p>This includes analyzing your screenshots, looking for ways to eliminate large losers and finding ways to optimize your entries and exits.<\/p>\n<p><a href=\"https:\/\/www.tradingheroes.com\/nakedmarkets\" target=\"_blank\" rel=\"noopener\">NakedMarkets<\/a> will help you with the statistics part.<\/p>\n<p><strong>It gives you a complete suite of statistics to help you understand how well you're trading. I've been looking for this level of statistics for a long time and nothing out there even came close.\u00a0<\/strong><\/p>\n<p>Here's a screenshot from their website&#8230;<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1022298\" src=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/Screen-Shot-2022-11-13-at-2.30.35-PM.png\" alt=\"NakedMarkets report\" width=\"1415\" height=\"709\" srcset=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/Screen-Shot-2022-11-13-at-2.30.35-PM.png 1415w, https:\/\/www.tradingheroes.com\/wp-content\/uploads\/Screen-Shot-2022-11-13-at-2.30.35-PM-768x385.png 768w\" sizes=\"auto, (max-width: 1415px) 100vw, 1415px\" \/><\/p>\n<p>The biggest downside is that you'll have to track your notes and screenshots in a separate program.<\/p>\n<p>Luckily, that's pretty simple.<\/p>\n<p>You can use a Word document or a note taking app like Joplin.<\/p>\n<p><strong>But NakedMarkets takes care of the time consuming part, compiling the statistics.\u00a0<\/strong><\/p>\n<p>That's always hard when it comes to keeping a trading journal. Manual entry into an Excel sheet or online form takes forever.<\/p>\n<p>If those benefits interest you, here's a quick rundown of the pros and cons of using NakedMarkets as part of your trading journal solution.<\/p>\n<h3>Pros<\/h3>\n<ul>\n<li>Syncs with Oanda to download your live trading results<\/li>\n<li>Can analyze MetaTrader reports<\/li>\n<li>Track commissions and fees<\/li>\n<li>Complete suite of statistics<\/li>\n<li>Risk analysis<\/li>\n<li>One-time fee<\/li>\n<\/ul>\n<h3>Cons<\/h3>\n<ul>\n<li>Have to track screenshots and notes separately<\/li>\n<li>Cannot use the software for journaling if you don't use Oanda or a MetaTrader broker<\/li>\n<li>Can only analyze stocks, forex, futures and crypto markets<\/li>\n<\/ul>\n<p>Again, this solution isn't as comprehensive as TraderSync. But it's perfect if you just want to save time compiling your stats.<\/p>\n<p>You'll also save money because you don't have to pay a monthly fee.<\/p>\n<p>Try it <a href=\"https:\/\/www.tradingheroes.com\/nakedmarkets\" target=\"_blank\" rel=\"noopener\">for free here<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<h2>Joplin &#8211; The Free, Fully Manual Solution<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-1022613\" src=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/Screen-Shot-2023-02-08-at-3.45.22-PM.png\" alt=\"Joplin notes\" width=\"1380\" height=\"598\" srcset=\"https:\/\/www.tradingheroes.com\/wp-content\/uploads\/Screen-Shot-2023-02-08-at-3.45.22-PM.png 1380w, https:\/\/www.tradingheroes.com\/wp-content\/uploads\/Screen-Shot-2023-02-08-at-3.45.22-PM-768x333.png 768w\" sizes=\"auto, (max-width: 1380px) 100vw, 1380px\" \/><\/p>\n<p>Joplin is basically a free and open source version of Evernote.<\/p>\n<p>I've <a href=\"https:\/\/www.tradingheroes.com\/evernote-forex-trading-journal\/\" target=\"_blank\" rel=\"noopener\">written some tutorials<\/a> on how to use Evernote as a manual trading journal and I still think that the format that Evernote uses is perfect for a trading journal.<\/p>\n<p>However, what I don't like about Evernote is that I have to subscribe to their service and my data is sitting on someone else's server. If they go out of business, or their servers get hacked, then I lose all of my records.<\/p>\n<p>So as I was searching the internet for an Evernote alternative, I stumbled upon Joplin and I knew that it was what I've been looking for. Since it's free, it doesn't have all of the bells and whistles of Evernote.<\/p>\n<p>But I feel that it has all of the basic features that I need to use it as a trading journal.<\/p>\n<p>I highly recommend it.<\/p>\n<h3>Pros<\/h3>\n<ul>\n<li>Free and open source<\/li>\n<li>All data is stored locally on your computer for privacy<\/li>\n<li>There are syncing capabilities if you want to use it between multiple devices<\/li>\n<li>The way that the notes are organized is perfect for trading<\/li>\n<li>Mobile apps available<\/li>\n<li>Save web pages as notes<\/li>\n<li>Super simple interface<\/li>\n<\/ul>\n<h3>Cons<\/h3>\n<ul>\n<li>Have to backup your computer in case of a hard drive crash.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/joplinapp.org\/\" target=\"_blank\" rel=\"noopener\">Try Joplin here<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>\u00a0<\/p>\r\n<p style=\"font-size:0.8em\"><em>Disclaimer: Some links on this page are affiliate links. We do make a commission if you purchase through these links, but it does not cost you anything extra and we only promote products and services that we wholeheartedly believe in. TradingHeroes.com is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>These are the best trading journals. A trading journal is essential to helping you analyze your mistakes and improve your skills. <\/p>\n","protected":false},"author":1,"featured_media":1022299,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-1022281","page","type-page","status-publish","has-post-thumbnail"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Best Trading Journals - Trading Heroes<\/title>\n<meta name=\"description\" content=\"These are the best trading journals. 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