TraderVue is a powerful journaling software that provides users with an integrated suite of tools to help day traders and investors conduct in-depth analysis on their performance and metrics. I will review this software in depth below and give you my personal opinion on whether or not it can make a difference in your trading strategy.
TraderVue Review
Key Features
What is TraderVue?
As a professional trader, journaling and tracking your data is extremely important to find inconsistencies and improve performance. For more on that, please see this article.
Journal Feature
TraderVue allows users to keep track of all their trades in chronological order. Users can also filter and sort the data by date, tag, or stock symbol.
This main feature shows your most recent trades arranged chronologically from earliest to latest alongside a plethora of filters and sorting options based upon when they occurred or what tag the trade was made under. This makes it really useful for sorting trades, for example, if you just want to view the data and metrics for "long trades" or "short trades" or even a specific trade setup that you are tracking, it can do that for you with ease.
You can use the search feature to quickly find specific entries where you had entered certain information like the type of trade (such go long/short) or tags (type of setup it was that you traded it), and/or date that the trade took place, for example).
The account settings allow you to customize the template that your text boxes use. You can also apply this particular template across all of your notes, which is a great organizational tool! Note again, though that instead of typing trades in yourself directly onto the platform, you have to import them from a manually curated spreadsheet.
The Tradervue system allows users to access their accounts and perform certain tasks such as viewing performance reports through an online web-based interface or mobile application. The account settings within Tradervue give traders options for customizing templates and applying those same designations across multiple notebooks.
TraderVue Analytics
Analytics
The second major feature of the platform is automatic charting based on transaction data. Customers can see all their entry and exit points at a glance, along with other analytics such as average profit per trade or portfolio balance over time.
TraderVue automatic population of execution points on chart.
Using the data you imported in Step 1, TraderVue generates some reports that are available for free and others that can be found on their paid plans.
These include:
- Risk analysis reports (only generated on Paid Plan)
- Comparison Reports (free report type)
- Liquidity Reports (available to all accounts regardless of plan level - Free Report Type )
- Tick-based reports & P&L overviews
Sharing
If you use Tradervue, not only can you share your ideas with other members of the platform but also monitor what successful traders are doing. By following them and understanding their rationale behind strategies used, one is able to feel like they have a trading style that resembles those individuals.
The sharing feature is useful because it lets you filter and regulates what information to share.
Learn How To Day Trade Stocks
Mentoring and Coaching
Tradervue provides an innovative way to share your account with mentors or coaches. Silver and Gold plan members can enable the Mentoring tab from Account Settings, then invite people by email (they must have a Silver or Gold membership plan also).
Coaches and mentors are people you trust who have read-only access to your journal, which lets them leave comments. It's useful if they help traders become successful too!
You can share your journal with experienced traders to help plug leaks in their trade. The mentors are simply the more experienced traders who will spot specific trends and give a helping hand before significant losses occur.
Broker Compatibility
If you want to use Tradevue, ensure that it works with your online broker of choice. Luckily for you, most popular brokers are supported by this service such as Trade Zero, Interactive Brokers, Lightspeed, Centerpoint Securities, Cobra Trading, and many more. You can find a complete list of supported brokers here along with which ones support what feature: https://www.tradervueapp.com/brokers-and-platforms/
TraderVue is an amazing tool but before using it, you should make sure that the platform supports your online broker, otherwise you will have to manually enter trades instead of importing them and having them automatically populate.
Customer Support
In order to answer questions that the user may have, this service has a variety of ways they can get help. For example, there is a Help Center on the main page with helpful articles and FAQs for different aspects of their platform as well as video tutorials guiding you through some features if needed.
Lastly, there's an option for contacting moderators at the bottom of the page under Contact Us where users can fill out their issues and send them in. We were curious why there wasn't any phone number listed should anyone want direct contact with customer support representatives though.
Pricing & Plans
TraderVue Pricing and Plans
You can choose from three different subscription packages with Tradervue.
Free Plan
The free plan is great for those who are just starting out, but if you want more advanced features then consider the paid plans. Sign up for a free trial with TraderVue here!
With the Tradervue free plan, you get 100 stock trade journal entries a month as well as limited reports and access to your data. You also have shared tracking enabled so that those on other plans can use this feature with their clients or team members for an additional fee.
The free plan includes features such as:
- 100 stock trades per month with reports to show performance in different time periods.
- An online trading journal so you can track your progress and reflect on past mistakes.
Silver Plan
Tradervue offers a silver plan for $29 per month, with unlimited trades and more advanced features like the capability to alter your base currency.
This is great if you need access to different asset classes or stock markets outside of US exchanges.
You also get an enhanced journal that saves all your trading activity which lets you create financial reports easily using their built-in P&L charts, download data in Excel format, as well as upload images up to 1GB big!
- Advanced reports
- Options, Stocks, Futures, Forex
- P&L Charts
- Sharing
- Enhanced journal
- Unlimited trades
- 1GB of image upload and storage
- You can download data to excel
- Capability to alter the base currency
Gold Plan
When compared to the Silver plan, Tradervue Gold offers additional risk analysis tools and an exit strategy for when it's time to sell. Because this is a more expensive plan at $49 per month, there are also liquidation reports in case you need them later on down the line.
- Risk Analysis
- Exit Analysis
- Commissions and Fee support
- Liquidity Reports
Why It’s the best option for traders and investors?
This is one of the most unique products I've used. It's similar to the Profitly platform but with many more trade analysis features. Personally, I find it extremely valuable in helping in refining my performance and even helped spot some improvements to my trading methodology thanks to the tags.
There is an amazing number of reports available, 200 reports for Silver and 300 reports for Gold members.
Is TraderVue Worth It?
Do you want to know if Tradervue is for you? I think it simply is an amazing tool for any trader or investor. I am a huge fan of TraderVue and I would recommend it to anyone who is serious about analyzing and improving their investing performance.
I love using TraderVue for my own personal use as well as in my day-to-day work. This program provides me access to real-time market data, advanced charting tools, and much more!
Pros
- Gold members can access 300 reports, while Silver-level subscribers will have to settle for 200.
- They've allowed me to see my trading performance from every possible angle
- Structured to enhance your discipline, risk, and trade management.
- The trade community is a great resource for ideas and information.
- Assertive and prudent traders will see where they can improve their system.
Cons
- It needs user engagement, meaning that those who are lazy won't find much value in it.
- It doesn't teach trading methodologies to improve performance, so users must have an existing system in order for the program to truly benefit.
Conclusion
TraderVue is the ultimate trading and investing platform for professionals. This comprehensive, user-friendly tool offers a variety of features that helps traders stay on top of their game in any market condition.
With such an intuitive interface and robust set of tools to choose from, it's no wonder why so many people are choosing Tradervue as the best option for professional traders and investors alike!
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