However, you might find them inflexible as your needs change over time. You will also find it easy to record new trades. You can import your data and start analyzing them immediately. Specialized software packages that are well-suited for your trading needs are ideal. Screen Recording For Recording Intraday Trading.General Purpose Software As Trading Journals.Regardless of your trading configuration, you will always face a trade-off between convenience and ease of customization.īelow, I’ve organized the top trading journal software into three sections. Trading Style (Trading horizon, frequency, objectives, etc.).Brokerage (You can save time if your brokerage records are compatible with your software.).Trading Instruments (Stocks? Futures? Forex? or multiple instruments?).When choosing your trading journal software, you need to consider the following: Hence, a trading journal software is mandatory. But as you accumulate trade data, it becomes unfeasible to analyze them on paper. How To Choose Your Trading Journal Software Recognizing the need to change any destructive trading behavior.Evaluating and fine-tuning your trading system.Giving you a basis for your future trades.Getting an idea of your historical performance.Selwyn Gishen wrote a succinct article over at Investopedia on why you need a trading journal. But there’s one thing that all successful traders agree on, and that is maintaining a trading journal that records your trades. They disagree on everything from trading strategies to ways of measuring profitability.
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