I was recently contacted by a forex product creator to do a product review for Trade on Track trading log system.
The idea is that for traders to be successful they must have a trading plan which is true. This software helps traders follow thier trading plans by creating a platform where they can analyze thier plan and strategies. It is like a glorified spreadsheet only with much more detail and eye cathing charts.
My review is that this is good software and useful for traders because it it is important to keep track of their trades and system.
This is true if the trader has problem documenting trades and if this software can help them than it is worth every penny of the $27.90 a month that the software costs because then they will be a disciplined trader. So I recommend this product and there is a 14 day free trial to check it out.
Here are the benfits of the program:
•Track and log details of all your trades in a secure environment (much easier to use than your trading log spreadsheet!)
•Allows you to track trades across multiple trading accounts, platforms, and brokers
•Ability to upload chart screenshots at trade entry and trade exit for easy reviewing later
•Ability to enter detailed notes (pre and post) against each trade, for later review
•Automatic warnings of upcoming news events which may affect the currency pair you are trading, so you can stay out of the market, or take advantage of the news announcement.
•Automatic risk/reward calculations at the time of trade entry
•Automatic trade size calculation (number of lots) based on your preferred risk level
•Trading system checklists and tips, helps keep your trading disciplined
•Start of Day and End of Day checklists for a more disciplined trading regime
•Risk summary table of all your open trades
•*Live price feed lets you track profit/loss/Return on Equity of your open trades (*may be delayed by up to 3 minutes)
•Profit summary table lets you see at a glance how many pips (or ROE) you’ve made today, this week, this month or this year
•Metatrader 4 integration and import facilities simplifies the logging of trades taken in MT4.
•Dashboard charts let you visually see your trading performance, your level of discipline, and which trading systems, currencies, or days of the week are working best for you.
•Flexible trading log lets you sort and filter your trade history by date, trading system, currency pair, trading account and
more. Review and analyze your trading history to see what you’ve done right or wrong, and what is working for you and what isn’t.
•Powerful trade performance statistics lets you analyze ROE, drawdown, win/loss ratio and much more against each trading method, trading account, currency pair or combinations of these factors.
•Built-in trading tools such as clocks showing current time at major trading centers around the world, links to news and broker sites, calculator for fib levels and pivot points.
•Online knowledge base articles, training videos and support ticket system – allowing you to get the best use from Trade on Track.
•Affordably-priced monthly subscription. No large upfront costs, no long-term contracts.
•Server based, accessed from any internet-enabled computer or mobile device. No software installation, upgrades or backups required.
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