Although it’s not the most exciting part of the job, by any means, journalling trades is a key part of being a forex trader. In fact, all successful traders put a huge amount of time into journalling and developing all areas of their trading from psychology to trading strategies. Although this can be done manually using spreadsheets, for the best analytics and results, having a system/platform in place is key to drive this growth.
In this article, we are going to be taking a dive into TrackFx. TrackFx is a very new trading journal brought out by some very influential figures in the retail forex arena. The offering is very complete and it’s certainly clear to see how it’s earned a place on our top forex journals list. Let’s find out more…
What Is TrackFx?
TrackFx is a revolutionary new tool in the market for helping traders journal their trades. More so than just being a static journal, the tool allows you to fully analyse yourself and your trading performance with over 20 metrics to really get the most out of your time in the markets.
TrackFx was released to the public for free in Q3 of 2021, so it’s certainly a new player in the trading journal space. With that being said, they are coming to the market with more technology than the majority of the top journalling competitors and the owners of the project have a very big name in the space so they certainly know exactly what needs to be tracked in a successful forex trading journal. Let’s dive into some of the new features to consider…
What Makes TrackFx Different To Other Forex Trading Journals?
TrackFx is a lot more advanced than some of their competitors and certainly has a great offering for traders. Here are some of the main features that you should consider…
1. Industry Experience
One of the main areas that sets TrackFx apart from the competition is simply the experience the team are coming with. The owners of the project are the guys behind AstroFx and EverythingFx. They are absolute powerhouses in the retail trading space, especially in the U.K and you’d be hard pushed to find a trader that isn’t aware of them.
Having this kind of experience means they know exactly what is needed in a trading journal and what kind of support forex traders would need in order to be successful.
2. Advanced Statistics & Metrics
The trading journal will automatically look at over 20 metrics to show traders exactly what they need to know to improve their trading and grow from their past performances. These metrics are displayed in graphs, charts and just numbers to cater for all needs.
3. Import Trade History Automatically
TrackFx allows traders to import historical trading data from over 1000 different brokers. This will all happen automatically so you don’t need to manually sift through all of your data to get the statistics needed. This makes the process extremely fast and reduces the chance of human error dramatically.
4. Free To Sign Up
Weirdly, TrackFx is currently completely free to sign up! I imagine this won’t last, so I would highly recommend creating your free account now in order to have a look at the offering and features of the journal. Most of the high quality trading journals like Forex Book are going to cost you either monthly or yearly to use.
How Much Does TrackFx Cost?
One of the best features of TrackFx is that it’s currently free! With such advanced technology, I would speculate that it isn’t going to stay free forever and nor should it. However, at the time of writing this it’s completely free to sign up and I would highly recommend just creating an account to test the offering before there is a cost in the future.
Many of the top forex trading journals in our list are paid or have paid features, so this is great to see!
Who Is Behind TrackFx?
I don’t usually like to look at who is behind a system or tool as it’s not really too necessary. However, in this case, TrackFx is run by a great team and I think it’s actually worth focusing on.
Astro Fx is one of the largest forex trading education companies in the world and certainly in the U.K. The company has been around for many years now with Shawn, Aman and a team behind them. The company has created various brands over the years that have been used and loved by traders around the world. Mike, who works closely with Aman, is the man behind the TrackFx project and he is, what can only be described as, an expert coder.
When I realised who was actually behind the project I was instantly intrigued as I know that these guys put out great quality tools in this market. You can see ownership here on Companies House and you can also see Amans involvement on his Instagram.
TrackFx Reviews – What Do Traders Think?
As mentioned in our Forex Book review, there are usually not many reviews to work with from traders when looking at trading journals. TrackFx is no exception to this as there are very few, if any, reviews online from traders.
This has to be taken with a pinch of salt and certainly isn’t a bad thing. At the time of writing this article, in October 2021, TrackFx has literally been released for a few weeks so if we did happen to see a huge amount of reviews they would most likely be bought. Regardless, I will be circling back to the reviews over the next few weeks as more traders are using the platform to journal their trades.
Conclusion – Is TrackFx The Best Forex Trading Journal?
In summary, TrackFx is definitely one of the best forex trading journals and it’s clear to see why it places so highly in our top forex trading journals list. The technology in the offering and all of the features are second and none and it’s very similar in features to Forex Book.
I’d definitely recommend signing up for yourself and taking a look at the offering now as I imagine over the first few months of being live there are going to be changes and updates made frequently in the platform. If you’re currently using this service or have any questions, please do leave a comment down below – I’d be very curious to see how Track Fx is being received.