Broker import, or Manual entry
Why traders should be manually entering their trades
The TJS product is unique in that it summarizes your trade information into multiple Performance-tracking categories (modifiable by you). Broker export files are not in an organized format conducive to trade-tracking. To get the type of analysis the TJS offers, a manual input of your trade information is necessary. Thus, (unless you use Ninja Trader*) the TJS does not have the capability to import from your Broker or trading Platform.
Here’s how one user states it when experiencing the TJS after using another competing product.
“I tried subscribing to some online trade-tracking sites but there is nothing like taking the time to manually record your trades to really understand your game.” ~ Simon Smith, Canada
While we understand that searching for products that provide shortcuts with trade importing can be enticing, it does come with a price… prized expert analysis and highly personalized trade data.
The TJS looks to make it compelling for traders to go in-depth with each trade. However, broker export data will not have the psychological details and specific notes to do so. With this data, the TJS can give you a comprehensive Trade Summary for each trade. All of this serves to provide an ideal post trade review.
If you wish to become a better more adept trader, you’ll need to remember the details of each trade. The TJS can help you remember these details with the included “Trade Sheet”. Its purpose allows the trader to jot down the notes of their trades, helping them to remember the details without having to keep their trading journal open during trading hours.
- If a trader relies on downloading information from his broker, he is apt to doing so at a time where all is forgotten, which voids the purpose of a professional journal.
“Those who cannot remember the past are condemned to repeat it” – George Santayana.
Also, please know that anytime there is a 3rd party service involved, troubleshooting issues are at risk. If using a trading journal product that relies on the importing of data, the product may be at risk anytime the broker/platform owner chooses to update their own software. If the developer of your journaling product is no longer around, or is slow in responding to these changes, your trade-tracking efforts will suffer.
* Ninja traders, for more information, please visit the TJS Importer, for Ninja page.
Posted in: TJS Q&A