TraderVue is a financial analysis and investment research platform that provides tools and resources to help traders and investors make informed and profitable decisions in the markets. It has features like portfolio tracking, market analysis, and customizable alerts to help users monitor and optimize their investments.
Whether you are a beginner or experienced trader, it is very important that you track your trades. This would help you pick out what works for you and what doesn’t, plus it would help you identify areas that need improvement.
If you are a newbie, you need to analyze your trades more regularly that the trader who has been in the game for a longer period. However, not many beginners have the discipline required to maintain a consistent trade journal.
An online trade journal would help you out in this instance. There are many such subscription services out there, so it may be hard to narrow down on the best of them.
At this point, we are going to introduce you to the Tradervue online journal.
What is Tradervue?
This is a trading journal that also serves as a social media platform for different traders to interact. In this sphere, you can share your ideas with other traders, and it also helps in holding you accountable for the trading decisions that you take.
The logic behind sharing your trades publicly is that traders will be more careful before making a move and are dissuaded from emotional revenge trades.
You will also pick up valuable tips from other traders that would help to mold your overall development as a trader.
TraderVue is packed with a lot of useful features, some of them available at no cost at all. They can help you analyze the progress of your individual trades and the effectiveness of the trading strategy you have been using.
Let us now see these features in-depth.
1. Journal Feature
This is the main feature of TraderVue, and all the trades you have entered are listed here in chronological order. You can filter and sort your data based on the date, tag, or stock symbol.
The journal view lists the trades you may have shared publicly together with the notes you made concerning the trade as you entered it. Then, the search box function is going to help you search through your journal trades and the notes you entered for particular comments.
The account settings allow you to customize the template that your text boxes use, and you can apply a particular template across all your notes.
Note that you cannot type trades directly onto the platform. Instead, you have to import them from a manually curated spreadsheet.
The second major feature of TraderVue is the report and analysis tools. With these tools, the platform automatically creates charts with all the entry and exit points marked.
Note that these charts are based on the data that you imported from the spreadsheets.
TraderVue generates both intraday and multiday reports, and they include:
- Risk analysis reports
- Comparison reports
- Liquidity reports
- Tick-based reports
- P&L overviews
Keep in mind that the generation of some of these reports only happens in the paid plans.
Another outstanding feature of this platform is the ability to share ideas and trades with other members of your network. On top of that, you can monitor the reputable traders’ trades, plus you can also comment on their ideas.
When you follow the successful traders, you can feel their trading style and understand the rationale behind the strategies they have employed.
We liked the sharing feature because you have the option of regulating and filtering the information you wish to share publicly.
4. Mentoring and Coaching
Do not mistake this feature for an actual mentoring service. Instead, it is more of a sharing feature to give mentors or coaches access to your journal. These mentors are simply the more experienced traders who can spot specific trends in your journal.
The mentor can help in plugging leaks before your trade makes significant losses.
5. Broker Compatibility
Before you embark on using the Tradevue platform, you should ensure that it is compatible with your current online broker or the trading platform. Luckily for you, this service integrates most of the popular online brokers in existence.
You should also keep in mind that the Tradevue may be compatible with your trading platform but does not support some of its features.
Check out this list (https://www.tradervue.com/help/brokers) and see whether your broker or platform is compatible.
At the official blog, you will find all the posts that the company has made regarding the updates it makes to the platform. These posts feature tags that you could use to make your searches more convenient.
You have the freedom to respond to any post you deem appropriate.
7. Customer Support
In case of any query, this service supports its customers in various ways. For starters, there is a Help section on the main site.
You are also going to find numerous FAQs regarding different aspects of the platform. Besides that, there are several video tutorials guiding you on how to use some tools. This is a crucial aspect since some tools will take some time before you learn how to get the best from them.
Lastly, there is a Contact Us form where you can fill out your issues and send them to the moderators. However, we were curious why we could not find a phone number anywhere for making direct phone calls.
Tradervue has three subscription packages for you to choose from. Whereas one of them is free, two are paid.
1. Free Plan
Unlike many other free plans, there is quite a lot that you can find in this package. As expected, most of the advanced features are in the paid plans, but those that are looking for a basic trading journal are going to be satisfied with this plan.
Some of the features in this plan include:
- 100 stock trades per month
2. Silver Plan
At $29 per month, this plan has slightly advanced features, including no trade restrictions, while the asset class is also wider.
Some of the features that this plan offers include:
- Advanced reports
- Unlimited trades
- Enhanced journal
- Options, Stocks, Futures, Forex
- 1GB of image upload and storage
- P&L Charts
- Capability to alter the base currency
- You can download data to excel
3. Gold Plan
As the most expensive plan, Tradervue Gold has the most functionality. At $49 per month, this plan is just like the Silver plan but with some minor additions.
So, in addition to the features that the Silver plan offers, the additional features include:
- Risk Analysis
- Exit Analysis
- Commissions and Fee support
- Liquidity Reports
Who Is Tradervue Best For?
First of all, if you want TraderVue to benefit you, you need to have an existing trading methodology. Otherwise, all the reports that the platform offer would be useless.
That being said, both beginners and experienced traders would find TraderVue to be useful. For instance, the journal feature would be helpful for the newbies due to the historical index of trades that they may refer to as they settle in the trade.
Then, there are the advanced analytics tools that both beginners and pros can use to identify which trades are profitable and which are loss-making.
The closest competitors of Tradervue are Edgewonk and Profit.ly. The former has a one-time membership fee of $187, with no extra fees cropping up later on as you continue using the service. Then, just like Tradervue, it has a free trial.
As for Profit.ly, it costs somewhere between $30 and $75. When you compare its social networking to Vue’s, this platform is the outright winner. For instance, unlike Tradervue, you can send messages to other traders directly.
Is It Worth It?
If you want to know whether or not this platform is for you, there are several questions that you have to answer. For instance, how detailed should your analysis be? How much money are you willing to fork out for the service? Do you intend to trade more than 100 stock instruments per day?
If you feel like this platform gives you the right answers to the above questions, you ought to go for it.
Pros and Cons
This is an amazing platform that any trader would benefit from. However, it has its fair share of flaws. So, we are going to list both advantages and advantages of the Tradervue platform.
One thing we can agree on is that Tradervue brings a new dimension to stock trading. Rather than solely dealing with the exchange of financial instruments, this platform allows you to communicate with other traders out there to exchange information and ideas.
Besides that, you can track your trades, and you can review your trading strategies so that you know whether to abandon or stick with them.
However, the developers need to get serious about this platform’s social media aspect since there are competitors who are showing massive potential in this aspect.
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