Become a profitable trader Learn How?

24
Jul

0

Edgewonk’s July Update – 2.0.22

The newest Edgewonk update has just been released and here is what is new:

– Screenshots in the Chartbook will now scale with the window
– New time of day filter: filter your trades by hourly intervals
– More Tiltmeter information is shown in the top menu area
– Edgewonk remembers the size and position of the journal and opens the same way every time
– IG statement import: you can import your IG Markets csv and Excel statements
– Forextester 3 statements can be imported now
– Cryptocurrencies enabled: enter your crypto trades with up to 8 decimals

20
Jun

0

The 4 Stages Of Profitable Trading – How To Survive And Thrive In The Markets

We have followed thousands of traders over the years and noticed that they almost all go through the exact same 5 stages. In psychology, it’s often referred to as the “conscious competence ladder” and it applies to trading as well.

Understanding at which stage you are right now can help you make the next step more easily and help you avoid the most common mistakes

Stage 1: Unconscious incompetence

This is the initial phase of a novice trader when he is just getting his feet wet in the markets. At that stage, a trader doesn’t know how much he doesn’t know, which can often be a liberating, but dangerous place to be in because the dangers are not obvious to him.

13
Jun

0

Edgewonk’s 2.0.19 Patch-Fix Update

You might have noticed it but we just released a new update yesterday (June 12th).

The mid-June update is the newest 2.0.19 version of Edgewonk and we did not introduce any new features in this update. Here is a quick overview with things that did change:

29
May

0

The Edgewonk May Update

We are excited to announce that we have just launched the latest end of May update.

Here is a list of the new features and improvements:

>> Select multiple tags per Custom Statistic during the trade entry
>> Excel export function of the core trading data (under Settings)
>> First set of pips/points metrics in the Trade Analytics and other tabs (the pips/points for Futures trading will be added later)
>> Visualize pips in the equity graph

03
May

0

4 Mistakes That Cost Traders A Lot Of Money And How To Fix It

As we all know, emotions and psychology play an important role in trading and are often the maim cause for trading failure. In our Edgewonk trading journal we included a set of unique features and metrics that not only analyze the impacts of psychological biases, but also shows you exactly how to overcome these problems. In the following article we introduce the 4 most commonly observed psychological biases among traders and how Edgewonk helps you with overcoming these obstacles.

19
Apr

0

5 Tips For Part Time Traders – Become A Successful Fulltime Trader

We all know what a drag a day job can be. When you come home at night you barely have energy left to talk to your partner, let alone start up your trading platform and pull yourself together in order to have the patience and discipline to make good trades. Additionally, all the time you spend at your day job is opportunity cost – and the currency is called trading experience. It’s a vicious circle.

Without a day job you do not have an income, but with a day job you do neither have enough resources nor time at your disposal to become a profitable trader. And how the hell is a trading journal going to help you with all this, because it takes even more of your trading time away? Well, whether you want to keep your day job and make trading an additional source of income or you want to go fulltime one day, Edgewonk will help you reach your goals in trading. How? Let’s take a look.

17
Feb

0

All Your Edgewonk Metrics And Numbers Explained

Edgewonk is much more than ‘just’ a regular trading journal. Most trading journals, especially the free alternatives on the web, are data graveyards where you just get a summary of all your trading data blended together into meaningless figures.

Edgewonk is the first trader development suite where we combine the most important journaling features with our unique trader development tools: analyze trade management, review your emotions, simulate future account developments and actively improve the way you set trades and your orders.

Edgewonk comes with all the important statistics a trader needs to know, but then we take it one step further. By leveraging the tagging-function you can create a personalized journaling and review routine. Start by tagging all your trades based on the setup you took, but don’t stop there. Utilize the unique Custom Statistics and create personal categories and tag each trade with your own descriptions. Furthermore, the entry, exit and trade management functionality allows you to analyze each part of your trading separately. Only then, reviewing your performance and trading data provides real value.

To help you understand your trading data in Edgewonk better, we have compiled a list with all the metrics and statistics in your trading journal:

10
Feb

0

9 Tips That Will Help You Deal With Losses Like A Pro Trader

You probably know that you can’t win all your trades. But understanding that a winrate of 100% isn’t achievable and knowing how to effectively deal with losses when they occur are two very different things.

A baseball player who strikes 30% is considered world class, a basketball player who scores 45% is one of the greatest of all time and the best soccer player in the world has a shot accuracy of less than 40%.

In trading, traders go broke with winrates as high as 50% or above. Theoretically, a winrate of 50% should be more than enough for any trader to achieve all the success he is after. However, not knowing how to deal with losses is what breaks traders and it’s one of the main reason why traders struggle so much.

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