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:
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.
Learning by doing doesn’t really exist in trading and executing trades alone or randomly flipping through timeframes and staring at charts all day long will not make a difference either.
Luckily, there are a few very specific things that can help traders improve their skills rapidly and very targeted.
Are you also struggling to find the time to establish a serious trading routine besides working your regular day job, following your hobbies, and spending time with friends and family? You are not alone. We know from first-hand experience that juggling all our obligations while trying to become a better trader is hard.
Establishing a better trading routine and being able to make the most use of your limited time will have a big difference on your trading. The problem is, 90% of all trading sites only focus on how to pick entries and discuss the newest indicators, instead of talking about how to build a professional and structured routine around your personal, daily life.
If your trading could need some structure and if you want to find a way to combine all the things that are important to you in your life, this article shows you how to achieve just that.
We just released our newest January 2017 update and it’s the first big step towards full automation in Edgewonk. We also, of course, worked on other features and improvements. Here is what is new:
You can import Metatrader 4, NinjaTrader 7 and Ninjatrader 8 statements now. Please read the documentation carefully. We will add new platforms one by one over the next few months and if you want see a specific platform integrated, feel free to reach out to us and assist us to speed up the process.
In this article we explain how to enter trades correctly where you have scaled in or out of the trade and taken multiple entries and exits. We also provide some tips around tracking such trades to help you understand your trading performance in new ways. Step 1: One row per trade portion Basically, […]
With the latest December update, it is now possible to easily export and import your settings and all your customizations with just a few clicks. When you have spent a lot of time customizing Edgewonk and you want to start a new journal you can now move your settings around and don’t have to redo the whole process. […]