Edgewonk Review: Is This Trading Journal Worth It?
Have you heard of Edgewonk? It’s not just your average digital trading journal. Nope, it’s more like a super sleuth for your trading habits, decoding the data you input and helping you up your trading game.
It’s obvious that keeping track of your trades and learning from slip-ups is essential, right?
Ask any successful trader, and they’ll probably mention how important a trading journal is. Edgewonk is a trading journal that helps take messy notes or basic Excel sheets to new heights.
So, you might be wondering, is Edgewonk the trading journal you’ve been searching for? Well, our Edgewonk review will answer that question as we dive deeper to help with your market picks.
What Is Edgewonk?
In 2014, this pro trader, Moritz Czubatinski, realized a need for a top-notch trading journal.
You know, something that could help traders keep tabs on their progress, spot any weak spots, and boost their performance.
So, Moritz went ahead and created Edgewonk, which has since become pretty popular with traders all over the globe.
Edgewonk is a digital trading journal that lets you keep track of your trading behavior, make sense of all the data, and fine-tune your trading systems using many different variables.
Features of Edgewonk
Edgewonk trading journal offers a variety of features to help you fine-tune your strategies and boost your profitability. Alright, let’s have a close look at some of the standout features you can expect when using this service.
1. Performance Tracking
Edgewonk is great for monitoring your trading achievements and handling all your trading data. You’ll be able to watch your win rate grow, see your largest ups and downs, and even take note of your most impressive victories and defeats.
Plus, you can check your daily progress and peek at a calendar highlighting your gains and setbacks.
2. Entry & Exit Optimization
These algorithms examine all your trades, helping you sharpen your system for picking the best times to enter and exit, selecting order types, and setting stop losses. A tool like this can give your win rate a serious boost.
Edgewonk comes with a backtesting tool that lets you compare multiple trading tactics.
You’ll have to lay down each approach’s entry and exit rules and then pick the market and timeframe to test.
You’ll see the results side-by-side in a chart, and you can even dig into each backtest to explore the individual trades that were put through their paces.
4. Trade Simulator
Once you’ve got a good chunk of trades under your belt, Edgewonk lets you run simulations based on your trading activity.
You’ll see many potential outcomes for your account if you trade using similar signals, time frames, and styles but with different trades thrown into the mix.
This gives you a sense of how sturdy your strategy is when faced with various market situations.
5. Custom statistics
Edgewonk dishes up a variety of custom statistics that let you dive into your trading performance and habits. These stats are great for helping traders figure out what they’re good at, what needs work, and where they can improve.
6. Professional support
To top it off, Edgewonk provides extra support and resources to help you level up your game. You’ll have access to professional traders, experts, top-notch training materials, and educational resources. This should get you started even if you’re a newbie.
Edgewonk has a simple pricing structure – just one membership plan that unlocks all their features for a reasonable $169 per year.
With this membership, you get your hands on the trading journal, trade simulator, and equity graph. Plus, you’ll enjoy a bunch of customized stats and tools to help you analyze and improve your trading performance.
You can use our coupon code to save 10% off a yearly subscription plan.
Pros of Edgewonk
- Comprehensive tracking of your trading performance
- Gain valuable insights from the data generated by your trades
- Proprietary algorithms can pinpoint the biggest issues in your trading
- Simulate model portfolios based on your trading style
- Flat fee
Cons of Edgewonk
- No free trial
Is Edgewonk Worth it?
Edgewonk is undeniably one of the best trading journals, with tools and resources to help you analyze and enhance your trading performance.
Considering its price tag and complexity, this trading journal might not be everyone’s cup of tea, but active swing traders, day traders, and pros looking to level up their game should give it some thought.
You can track your progress and pinpoint improvement areas with a customizable trading journal, trade simulator, and equity graph.
Plus, advanced features like the trade planner and custom statistics can assist in fine-tuning your performance to achieve your goals.
So, if you’re genuinely committed to upping your trading game, Edgewonk is worth a closer look. Click here to sign up and discover how this software could help you reach your trading objectives.