Successful active traders generally keep and review trading journals in an attempt to learn from their mistakes and improve their trading performance over time. That gives them a crucial trading edge.
It’s also very time-consuming. At least until TradesViz came along.
TradesViz automatically keeps a journal of your trading activities with visualization tools that make it easy to determine where changes can be made. Read on to learn how much it costs, how it stacks up against competing trade journal solutions, and whether you should consider signing up and downloading the software.
TradesViz Plans and Pricing
TradesViz offers three different plans, each with its own pricing and features. You’ll also receive a 25% discount when subscribing to any of the plans on an annual, rather than monthly, basis.
The basic plan is best for beginners and is free to use. Some of the most compelling features of this plan include:
- Track Stock Trading. The TradesViz software automatically tracks your domestic stock and ETF trades, making it easy to go back and learn from your performance.
- Automatic Import. You’ll be able to automatically import your trading activity. That’s a big plus, considering most trading journal software solutions with a free option require users to manually input trading data with their most basic plans.
- P&L-Related Trade Analysis Charts. You can easily see your profit and loss records with trade analysis charts that show this information. The charts are color-coded, outlining how much you’ve made, how much you’ve lost, and your net earnings.
- ChatterQuant AI Trade Data. ChatterQuant is TradesViz’s proprietary artificial intelligence script. The script sifts through hundreds of thousands of social media posts to determine social sentiment, outlining high-volume trading activities.
The Pro plan costs $19.99 per month or $179.88 per year. It comes with all the key features in the Basic plan, plus:
- Track Forex, Futures & Options Trading. As a Pro user, you can track all of your online trading — whether you’re trading stocks, forex, futures, or options.
- Interactive Charts. With this plan, you have access to 10 interactive stock charts per trade. It offers impressive charting capabilities and all the technical indicators you could need.
- Stop Loss Tracking. You can easily track your stop-loss orders with this plan. See where you’ve set them and whether or not they were triggered — giving you the opportunity to optimize your risk management strategy.
- Trading Calendar. As a Pro user, you have access to a trading calendar that outlines upcoming PnL reports, earnings reports, stock splits, and IPOs.
The Platinum plan costs $29.99 per month or $275.88 per year. It comes with all features included in the lower-priced plans, plus:
- Track Up to 20 Trading Accounts. Simultaneously track your trades in up to 20 different trading accounts with different brokers or trading platforms.
- Exit Analysis Charts. Analyze exits on your previous trades to see where you can improve your strategy. Also, find the best exit points for your currently open trades.
- Options Flow Dashboard. Track options flow as a signal for trading opportunities.
- Seasonality Charts. Assess your trading activities with market expected seasonal movements, or seasonality, in mind.
Additional Features of TradesViz
The TradesViz platform comes with several other features that benefit serious traders. These are some of the most important and useful.
Long List of Supported Brokerages
TradesViz supports a long list of popular online brokerages like TD Ameritrade, Robinhood, and Interactive Brokers. It also supports several popular trading platforms like thinkorswim, MetaTrader, and NinjaTrader.
All told, this trading journal software supports 80 different brokers and trading platforms.
Ease of Use
As its name suggests, TradesViz was created with ease of use in mind. The concept at the center of the software is the ability to easily visualize what’s happening in your trading portfolio from day to day.
When you log into the platform and import your data, you’ll find a slew of color-coded graphs with traditional color coding: green for gains and red for losses. Analysis and trading tools also all seem to be where you need them when you need them, reducing the learning curve for newcomers to the service.
If you like to trade on the go, TradesViz is a mixed bag.
The platform does have a mobile app that they’ve been working on for some time. The problem is that the app is very slim when compared to the downloadable software. However, it’s possible that TradesViz will beef up the app in the future, and it’s still a great way to get an at-a-glance view of how your trades are performing while on the go.
Risk & Performance Stats
Trading is a high-risk activity, so any tool that can help improve your risk management strategy is valuable. Whether you’re analyzing trade entries in your trading journal or looking into ongoing opportunities, you’ll find TradesViz’s risk and performance stats useful.
Group & Compare Trades
If you’re not sure whether you’re more profitable when day trading, swing trading, or momentum trading, TradesViz has a nifty way to help.
You can group and compare trades on the platform to the types of trades you make the most profits on. Once you pinpoint the trading strategy that works best for you, focus your efforts on that strategy rather than wasting your time with underperforming opportunities.
You can customize your TradesViz dashboard to make it easier to see data that’s important to you without less useful clutter.
Commission & Fee Tracking
Because you’re in the market to make money, not spend it, TradesViz tracks the commissions and fees you pay each time you make a trade. If the fees prove to be too much, you can compare online brokers to find one that will cost you less in the long run.
Fundamental Analysis for Stocks
If you like both fundamental and technical analysis when making your moves on Wall Street, TradesViz offers fundamental data like key valuation ratios, earnings data, and analyst opinions.
Advantages of TradesViz
TradesViz has several important advantages at all price points, including the free Basic plan. They include:
- Easily Visualize Your Performance for Free. TradesViz automatically imports your trading data, analyzes it, and displays it in easy-to-read, color-coded graphs. This makes it simple to track, analyze, and improve your trading performance over time.
- Active Trading Tools. TradesViz platform isn’t just designed to help you look back at your trades for opportunities to improve. It also offers a wide range of technical tools that can give you an edge during active trading. As a Pro or Platinum user, you have access to widely used indicators and multiple trading charts for each trade.
- ChatterQuant AI Access. Even free users have access to TradesViz’s proprietary artificial intelligence. This tool outlines major opportunities based on an analysis of trader sentiment using a vast ocean of social media data.
- Track Various Assets. TradesViz supports domestic stocks and ETFs as well as futures, options, and forex, making it possible to track all of your trades using one piece of software.
Disadvantages of TradesViz
While there are plenty of reasons to consider signing up for TradesViz, there are also a few drawbacks to the software. The most significant include:
- Doesn’t Track Cryptocurrency Trades. If you’re an avid cryptocurrency traders, you have to find a different way to keep a trading journal. TradesViz doesn’t track crypto trades.
- Only Domestic Securities on Major Exchanges. You can only track and analyze domestic securities trading on major exchanges like the Nasdaq and New York Stock Exchange (NYSE). If you like to trade OTC or international stocks, you need to find another trading journal tool.
- Limited Mobile App and No Desktop App. The mobile app is somewhat useful for an at-a-glance view of your trading activities, but it’s seriously limited. Also, there’s no online desktop application. To get TradesViz’s full functionality, you must download the software to your laptop or desktop computer. However, TradesViz supports all major operating systems, including Microsoft Windows, Linux, and MacOS.
- Best Tools Reserved for Paying Users. While the free Basic plan has some quality tools, the best of TradesViz is available only to paying subscribers.
How TradesViz Stacks Up
TradeBench is one of the biggest competitors to TradesViz. Here’s how the two compare:
|Price||Basic. Free Pro. $19.99 per month or $179.88 per year Platinum. $29.99 per month or $275.88 per year 25% discount when you pay annually||Free — no paid service tiers|
|Risk Management||Stop-loss monitoring and risk analysis||Planned entry & stop-loss tools, diversification tools|
|Ease of Use||Easy to use, even for beginners||Ads sometimes get in the way of important data|
|Mobile Capabilities||Very basic mobile app||All features available on desktop and mobile apps|
TradesViz is one of the best trading journal software solutions online today. With this platform, it’s easy to a trading journal, take advantage of data analysis tools, and improve your future results.
While you will have to pay for the best features, and cryptocurrency isn’t supported, TradesViz is a great option for most active traders.
High volume traders, such as scalpers, benefit most from the automated journaling and data assessment features. Meanwhile, automation cuts the time it takes to curate a journal to zero. And the data analysis functions make it easy to pinpoint where your strategy can improve.