Edgewonk 2.0 | Your Professional Trading Journal

19
Apr

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.

01
Mar

The Edgewonk March Update Is Here

We have just released the latest Edgewonk update and below you can find a list with the latest add-ons, new features and fixes:Added Sierra Charts and cTrader for platform imports (learn more)Generic Excel import is available (learn more)Date range filter in all tabs Multi-filter selection Auto backup (Edgewonk creates a new backup of your data on every startup [...]

17
Feb

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

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

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.

26
Jan

What To Do During The First Year(s) As A Trader – Our 8 Tips

We won’t sugarcoat it because from own experiences and from our work with hundreds of traders we know that trading is very hard and challenging. No wonder that the analysis of brokerage data confirmed that 40% of traders quit after 1 month and only 7% are still active after 5 years.1But why is it so [...]

18
Jan

How To Create A Trading Routine That Allows You To Reach Your Full Potential As A Trader

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.

08
Jan

January 2017 Update: The First Step Towards Automation In Edgewonk [Updated]

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.

30
Dec

How To End The Year 2016 And Get Ready For Your Best Trading Year

The time between the years, when markets are quieter and everyone is in holiday mood, this is your best chance to prepare yourself for the new year and get ready to make a real difference in your trading.The following points show you exactly how to end the year on a high note and how to [...]

21
Dec

How To Scale In And Out Of Trades In Edgewonk

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, […]

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