As a trader, being able to monitor and interpret your trading performance can be critical, and that’s where Chartlog comes in. Chartlog is a journaling and analytics tool that helps traders measure, monitor, and interpret their personal trading performance. With features such as advanced charting, performance reports, and journaling, could this be the right tool for you? Read our review of Chartlog and learn more.
Chartlog.com is a journaling and trading analytics tool for traders to help measure, monitor, and interpret personal trading performance. This software automatically imports trading data in real-time directly from your trading platform and provides insights into your performance metrics. This information is transformed into knowledge that helps to refine trading strategy, management, and execution with a data-driven approach.
I like how Chartlog provides analysis through a multi-layered approach that also engages user inputs like mental and emotional state before commencing trades. Even more advanced features enable traders to analyze stats on their trading strategies to pinpoint the conditions and situations that cause performance bottlenecks and leaks. Using the data, traders can adjust strategy rules and parameters to back-test outcomes before applying them in real-time.
It is often said that trading is a mental game and our biggest opponent is within us. This journaling and analytics tool bestows a whole new realm of awareness into a trader’s psyche and actions that can materially impact performance.
Chartlog Pricing Options
Chartlog offers three pricing options: Lite, Standard, and Pro. All three plans support unlimited trade journaling and automatic imports from unlimited trading accounts. You can try out any Chartlog plan free for seven days with no credit card required.
The Lite plan costs $14.99 per month and is discounted by 10% if you sign up for a whole year. It offers a trade journal and interactive charts but doesn’t provide access to Chartlog’s advanced strategy analysis tools.
The Standard Plan costs $29.99 per month and is discounted 15% if you sign up for a year. It unlocks strategy tracking and basic tools for interpreting performance.
The Pro plan costs $39.99 per month, discounted 20% for an annual plan. It offers the most detailed statistics and reports, including breakdowns of trades by day of the week and combinations of strategy tags. It also enables traders to create custom reports.
Chartlog Key Features
Chartlog supports automatic data imports from a wide variety of trading platforms and brokerages. Once data is imported, this easy-to-use software does most of the analysis legwork. User input is needed for journal entries, charting, and strategy testing and development.
Interactive charts in Chartlog are powered by TradingView, which is one of the best cloud-based charting platforms on the market. With over 100 indicators ranging from simple moving averages to RSI and Keltner Channels and On Balance Volume, TradingView is my favorite charting software.
The flexible drawing tools include trend lines, flags and parallel channels to Fibonacci retracements and extensions, Gann Angles and even ABCD harmonic patterns. It can’t be understated how deep the indicators run on this platform to accommodate every level of trader. Within Chartlog, charting is used for traders to reflect on their trading performance according to strategy, trade groups, and individual trades to spot areas for improvement.
Performance Reports and Insights
Chartlog provides a huge variety of performance reports based on your previous trading history data. It does everything from calculating winning and losing percentages to segmenting the time of the day that a trader tends to win and lose the most. Users can also view metrics about which of their trading strategies have been most and least effective based on custom strategy tags.
Subscribers to the Standard and Pro plans have the ability to apply adjustments to their strategies based on data-driven insights. Chartlog enables traders to make a small change in a strategy rule or completely rewrite their strategies.
Importantly, the analytics software uses back tests to show traders in real-time what impact these changes would have had on their success. So, traders can use Chartlog to optimize their strategies based on trades they actually placed, rather than based on hypothetical trades that a trader never actually entered.
Traders are expected to make entries in their trading journal daily. While users may feel they should keep input unbiased, these entries are actually meant to be subjective so that they present the psychological context for that day of trading.
Since traders are humans and not machines, the biggest flaws in trading often stem from our emotional states. Its emotions that make a trader apply strict discipline one day, taking quick stop losses, and then neglect their rules as losses mount the next day. Chartlog understands this and encourages documenting mental and emotional states so they can be factored into trading performance outcomes.
Chartlog also makes it easy to create journal templates. These can be as simple as creating headers for reflection about what went well and what went poorly during a day of trading.
There are a few other competing similar products on the market including Tradervue. Chartlog is superior in areas of charting and strategy analysis, especially when utilizing charting indicators powered by TradingView charting. The platform is very easy to use and literally runs right out of the box, assuming your trading platform is compatible. Chartlog and Tradervue are comparable in price, but I think Chartlog offers a better overall value.
Check out our other trading journal reviews to see how Chartlog stands up to the competition:
- Tradervue Review (Comprehensive Reporting)
- Tradersync Review (Feature-Rich)
- Edgewonk Review (Desktop Platform)
- Profit.ly Review (Great Community)
- Trademetria Review (Multiple Assets)
- Kinfo Review (Great Social Features)
Is Chartlog A Good Value?
Based on my Chartlog review, I think this one of the best values on the market for trade journaling and analysis software. At $14.99/month, Chartlog is cheaper than other journaling software like Tradervue and EdgeWonk for traders who need unlimited data import. It’s also significantly cheaper than comparable platforms for traders who want strategy analysis and insights.
Importantly, Chartlog isn’t just a good value relative to other journaling tools – it’s also valuable for traders. Chartlog makes it impressively easy for traders to boost their trading performance if they diligently apply the platform’s insights.
What Type Of Trader Is Chartlog Best For?
This journaling and analytics tool is best for intermediate and seasoned day traders that have the passion and discipline to study their performance and want to make the efforts needed to improve. The insights derived from Chartlog can be instrumental in adjusting and improving trade and strategy management. Traders who seem themselves as true students of the markets will benefit the most.
It’s worth noting that if you’re just looking for a trade journal with no performance analysis, there are cheaper alternatives available. However, I think the analysis tools that Chartlog offers are well worth the cost and make journaling much more effective.
- Robust reports on trading performance
- Automatically imports trade data from most brokerages
- Powerful charting powered by TradingView with 100+ indicators
- Rewrite strategy rules and back-test changes based on actual trades
- Intuitively designed and easy to use
- Non-intrusive, cloud-based and doesn’t hog computer resources
- Requires daily trade journal entries to be effective
- Customizable reports require a Pro plan