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04
Oct

2

How A Checklist And Edgewonk Can Save Your Trading

Checklist are used in different professions to standardize procedures and to minimize the potential for errors. When someone is doing the same task repeatedly, it’s easy to get sloppy or not give it the seriousness it deserves when you believe that you know how to do it anyway.

Trading is the ideal field for utilizing checklists because traders repeat the same things over and over again. Especially if you are a technical trader, you are usually trading the same patterns and following identical rules and signals for each trade.

29
Aug

0

A Trading Diary Or A Trading Journal? What Is The Difference And What Is Better For You?

When it comes to journaling and recording trading performance, there are two types of formats a trader can choose from. Both have their pros and cons and in this article, we want to help you understand the differences so that you can find what is best for you.

#1 A written journal – a.k.a. The Diary

Most traders don’t keep a real journal, but what they have is a diary. Traders with a trading diary mostly use Word, Evernote or just a physical notepad to write down thoughts, feelings or ideas about their trades.

In its essence, the idea of a diary journal is good but the execution is usually less than optimal and there are no benefits from keeping a written journal if the notes just disappear in your drawer and you never look at the again.

04
Aug

0

How To Use Edgewonk From A Cloud Drive On Different Computers

If you want to access the same journal from different machines, you can do that by using DropBox.

Important: Do NOT use any other cloud drive service such as oneDrive, Google Drive etc. Those platforms are known to be unstable and erase complete Edgewonk journals.

In this article I will show you step by step how to get your Edgewonk cloud-ready.

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.

17
Feb

1

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.

03
Feb

1

6 Ways To Improve Trader Performance

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.

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