Edgewonk trading journal is among the best and the most valuable trading journals and our unbiased Edgewonk review is going to demonstrate how.
The use of a trading journal is the most underutilized tool by traders, especially beginners. However, it is important for traders of every level to keep analyzing and recapping what went right or wrong. Traders need to reflect back on what caused failure or success. That means you can learn from your mistakes when you use a trading journal. Moreover, keeping a trading journal also helps traders to assess their trading behavior.
However, it is also important to look for the best trading journal. Only a top-notch trading journal can help you achieve success. Is Edgewonk also among the best trading journals? Can you count on it? What are its key features? And what are the pros and cons of Edgewonk trading journal? You are about to know the answers to these questions in our Edgewonk review. Let’s dive deep into Edgewonk and see whether it is among the valuable trading journals or not.
Edgewonk trading journal is developed by Quantum Trade Solution. It is one of the most popular and widely used trading journals. The reason for its splendid popularity is because of its utility and outstanding features. Edgewonk isn’t just software; rather it is a digital trading journal. Moreover, it is one of the most innovative trading journals that enables traders to analyze their trading performance and trading behavior. Additionally, it is extremely easy to use and every trader can easily use it. Having said that, Edgewonk trading journal is for anyone interested in knowing about innovative ways to improve trading performance. How so? Our detailed and unbiased Edgewonk review is going to demonstrate how.
Edgewonk features are the core of our Edgewonk review. It is not only among the most feature-rich journals but also offers the most advanced functionalities. In fact, it brings all the features that you need for a seamless journaling experience.
Comprehensive trading journal
Edgewonk trading journal offers unique diary functions besides offering the best journaling functions. Additionally, it is a journal that works perfectly for all types of assets including stocks, forex, futures, CFDs, commodities, and cryptocurrencies. Moreover, you don’t need to create multiple accounts for multiple trading journals. Edgewonk enables you to create multiple trading journals within one Edgewonk account. Additionally, you can log into your account from any device, from wherever you are. These features make it one of the most comprehensive trading journals.
Trade Management Optimizer
Trade Management Optimizer is one of the best Edgewonk features. This feature enables you to manage your trades in the best possible way. It works by analyzing whether you are managing or mismanaging your trades. After analysis, Trade Management Optimizer provides you with valuable tips on how to optimize your trades. So, Edgewonk trading journal not only assists in measuring trading performance but also guides in improving trade management.
Future Simulator is another top-notch feature you get on the Edgewonk platform. It won’t be wrong to say that the Edgewonk review would be incomplete without it. Why so? Because Future Simulator empowers you to assess your growth potential by looking at your past performances. It works by looking at your current performance and simulating potential future growth scenarios. Thus, it tells you about the possibilities of setbacks, losing streaks, and account volatility.
Do you want to analyze your trading performance from a different perspective? Or, do you want to gain insights from a different perspective? Then Edgewonk is the trading journal you need. It provides you with 13 graphs and also displays them side by side. Thus, Edgewonk enables you to assess your performance and gain insights in a different manner.
Another key Edgewonk feature is Missed Trades. It uses advanced analytic technology to help you analyze your trading performance and enables you to find your edge. Thus, you can keep a record of your missed trades, which leads you to explore new opportunities to improve trading.
Edgewonk trading journal also offers a Notebook Diary. It enables you to take notes about anything. Therefore you can take crucial notes about your trading plan, define trading strategies, or even write about your thoughts at a particular time.
Session Reviews are another valuable feature to analyze your trading performance. It helps you by allowing you to create new trading sessions. Thus, you can create day/week/month trading sessions to assess your performance across those sessions. Additionally, the feature also enables you to add text to your trading sessions.
Scaling In and Out
The Scaling In and Out feature enables you to create trades with multiple entries and exits. Moreover, you can easily scale in or out of trades with just a few clicks.
Edgewonk trading journal gives you access to some most remarkable Performance Analytics. These are absolutely imperative to mention in this Edgewonk review. Performance Analytics consists of a suite of powerful tools to analyze your trading performance. You can thoroughly analyze every aspect of your trading using 12 different types of performance charts such as;
- Equity – You can get an overview of your overall trading performance using a standard equity graph.
- Drawdowns – You can assess the magnitude of your losing streaks using drawdown graphs.
- Win rate over time – You can observe your win rate over a particular period of time.
- SQN – The System Quality Number is one of the best performance analytics tools. It enables you to analyze the effectiveness of your different trading setups and strategies. In fact, you can compare performance across different setups to assess their effectiveness.
- Profit Calendar – You can also see your winning and losing trades at a glance.
- R-Distribution – R-Distribution is also a very important metric. It helps you analyze the risk taken. It helps you by visualizing the distribution of the R-Multiple.
- Performance by Day – You can also analyze and assess your trading performance by day. Additionally, the feature also enables you to switch between account currency, percentage, or R-Multiple.
- Holding Time – You can also visualize your holding time for your winning or losing streaks.
- Weekdays and Months – You can also find the best and the worst weekdays or months for trading.
- Trade Analytics – You can also analyze and compare performance using Trade Analytics. It is a very useful table that helps you assess every aspect of your trading.
Edgewonk not only provides you with performance analytics but also covers Emotional Analytics. The platform does this because keeping tabs on the emotional side of the trading is also crucial. Thus, you can use emotional analytics to assess as well as improve your trading behavior, mindset, psychology, and discipline.
- Tiltmeter – Tiltmeter helps you work on your trading discipline. It enables you to analyze whether you break your trading rules or not.
- Discipline Efficiency – Discipline Efficiency is a graph. It visualizes the mistakes you made during trading.
- Trade Comments – You can also add comments with your trades. It helps you improve your trade entries and exits as well as improves your trade management.
Edgewonk pricing plan
Trading journals are fairly simple tools. Therefore, they shouldn’t be expensive. Edgewonk trading journal is such a journal that is highly economical despite being a feature-rich tool. It offers only one pricing plan named Pro. The plan costs you $169 per year. Moreover, the Pro plan comes with all the features highlighted in our Edgewonk review.
What makes Edgewonk different from other trading journals?
It is true that there are a lot of trading journals available in the market. However, there are several aspects that make Edgewonk stand out. In fact, there is no other platform that covers as many aspects as Edgewonk does. It is a data-driven tool and that is what distinguishes it from other journals available in the market. This isn’t just a journaling tool but also a mentor that also guides you to improve your performance through useful tips.
Who is Edgewonk for?
Edgewonk is a comprehensive tool that is suitable for all types of traders. However, it is important that you are willing to go the extra mile to assess your trading performance. Moreover, it is also important that you make sufficient trades. Traders who don’t trade consistently cannot take advantage of this tool. The reason is that Edgewonk requires sufficient data for analysis. That’s the reason that it is generally popular among consistent and experienced traders. In short, Edgewonk is for anyone who trades frequently as well as who is willing to take a look at his/her trading.
Edgewonk Pros and Cons
Highlighting the main pros and cons of Edgewonk is also crucial for a thorough Edgewonk review. The following are the advantages and disadvantages of this journal.
- Help you analyze your trading performance in the best possible way
- Guides you in improving your trading performance through giving valuable tips
- Assists you in improving your trading behavior, psychology, and discipline
- Gives you the opportunity to analyze and compare your trading plans and strategies
- A comprehensive digital trading journal
- Various visual features to assess the trading performance
- Economical tool
- Requires significant data for proper analysis
- Only one pricing plan
Edgewonk Review – the wrap-up
We are sure that our Edgewonk review will help you know all about one of the best trading journals. Knowing about such a valuable trading journal is imperative because a perfect trading journal helps you analyze your trading plan and trading behavior. Moreover, keeping a trading journal is advice you will get from every great trader.
Edgewonk is undoubtedly among the very best trading journals as it is evident from our unbiased Edgewonk review. This isn’t an ordinary trading journal. Contrarily, it is a special tool that not only covers performance analytics but also covers emotional analytics. Thus, you can analyze your trading behavior and discipline besides performance analysis. Moreover, Edgewonk trading journal is also extraordinary because it guides you through highly useful tips. The fact that it is a comprehensive tool also makes it stand out. Additionally, it comes with a highly user-friendly interface with customizable light and dark modes. In short, if you want a great trading journal, there is nothing better than this Edgewonk trading journal.