Trading is hard to master.
What makes it even more difficult is the fact that there isn't a good central location to store all of your trading related data, so it can be analyzed and mined for useful information.
Sure, there are a ton of spreadsheets and downloadable trading software out there, and most of them do a few things well enough.
But when it comes down to it, your trading data ends up getting stranded in multiple spreadsheets, at your broker, or on hard drives that crash.
I was looking for a simple, online, platform-independent solution, where I could store backtesting, demo trading, missed trades and live trading data, so I could extract useful information that I could use to improve my trading.
It simply didn't exist.
So I finally decided that I had to build it.
This is RazorJournal.
Why Traders Fail (and how you can avoid it)
There are a lot of reasons that people fail to become consistently profitable traders.
One of the biggest reasons is that people never develop complete confidence in a trading strategy. So they jump from strategy to strategy until they give up out of frustration or blow out their account.
But how do you develop confidence in trading?
The same way you develop confidence in anything else.
You practice, see positive results, then repeat.
If you see negative results, you review your technique, make some tweaks and try again.
The more practice you get, the faster you improve.
It works for NBA players, Formula 1 drivers and cake makers.
However, if you are only practicing a strategy in live market conditions in a real or demo account, then the amount practice you can get will usually be very limited. On top of that, if you are not recording your results in a journal, you are prone to making the same mistakes over and over.
Recording all of your trading results from backtesting, live trading and missed trades basically allows you to get more practice by seeing more trades and collecting more useful information on these trades.
This is how RazorJournal can help you become the best trader you can be.
Crusaders Against Metrics Overload
Yes, I said in the beginning that a lot of data is a good thing.
But a lot of metrics can be a bad thing.
There's a difference.
Whenever I see a trading journal that tracks pips or $ per share, I immediately know that it was designed by an engineer and not a trader. For a majority of traders, that metric will not help you trade better.
The same goes for a lot of the other metrics that are available on the other trading journal solutions out there.
Some say that RazorJournal is too plain.
That's just fine with us.
We only add metrics to our platform that will help you become a better trader.
The rest is just noise.
Our mission is to provide you with an intuitive platform to store and mine your trading data, so you can achieve your trading goals.
It's not just a trading journal, it's a Trading Performance Platform.