{"id":1848,"date":"2015-05-22T20:37:56","date_gmt":"2015-05-23T01:37:56","guid":{"rendered":"https:\/\/optimusfutures.com\/tradeblog\/?p=1848"},"modified":"2015-05-22T20:37:56","modified_gmt":"2015-05-23T01:37:56","slug":"edgwonk-trading-analysis-software-futures-traders","status":"publish","type":"post","link":"https:\/\/optimusfutures.com\/blog\/edgwonk-trading-analysis-software-futures-traders\/","title":{"rendered":"EdgeWonk Trading Analysis Software For Futures Traders"},"content":{"rendered":"
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This Optimus Futures Opinion of EdgeWonk www.edgewonk.com<\/a><\/span><\/strong><\/p>\n

In the last few years, we have been asked a number of times to assist with Futures and Forex Trading Analysis Software. There are a number of analysis tools, yet the challenge is to find software that could accommodate futures traders of all levels.\u00a0 We have decided to add Edgewonk to trading analysis software. www.edgewonk.com<\/a><\/span><\/strong><\/p>\n

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results. Please consider carefully whether such trading is appropriate in lieu of your financial situation. Optimus Futures was not paid nor is it compensated in any way\u00a0<\/strong><\/p>\n

In our opinion, a trading journal is probably the most recommended trading software for any serious trader. Whether you read a trading book, a trading website or talk to professional traders, a trading journal and a way of record keeping are mentioned as a necessary step of trader development.<\/p>\n

We have found that Edgewonk was an easy to use software for analysis while providing statistics that are beyond just pure numbers. For example, Edgewonk uses a variety of features that specifically help traders work on their emotions and trading psychology<\/a>, such as the Tiltmeter or the Trading Sessions. The Tiltmeter analyzes the level of discipline and how well you respect your rules and shows your weaknesses. The Sessions-feature allows you to create an effective review and journaling routine.<\/p>\n

\"Edgewonk<\/a><\/p>\n

Up until now, most traders have used self-made Excel spreadsheets or loose Word documents as their trading journals. Sooner or later – mostly sooner \u2013 those turn into data graveyards and traders will abandon their journaling routine because they don\u2019t see the benefits. Edgewonk now offers a professional and easy to use solution that makes journaling a fun experience and the automated analytics provide valuable insights into your trading immediately.<\/p>\n

\"Edgewonk<\/a><\/p>\n

Handling<\/h2>\n

The Edgewonk interface is very clean and it does not take long to get used to it. In the Home-Screen traders get the first breakdown of their current and weekly running performance. Of course, the other tabs provide much more detailed insights as we will see shortly.<\/p>\n

Edgewonk uses a trade-entry mask where traders make their trading input. Currently, Edgewonk does offer statement imports for Sierra Charts<\/a> and other platforms (more will be added in the future) for even more effective data input.<\/p>\n

Here, Edgewonk is completely customizable and it works for all international markets, all asset classes (except for options), all currencies and trading instruments. You can track your own strategies, set up your own individual setups and then tag trades to get detailed insights. With their so-called Custom Statistics, you can create your own categories of tags and things you want to analyze in your trading (timeframes, emotional factors, patterns, news items, profit taking and entry strategies and more).<\/p>\n

There is a small learning curve since some of the metrics are proprietary and not (yet) industry standard, but their trader development program, which comes with the journal, guides you through the process step by step.<\/p>\n

\"Edgewonk<\/a><\/p>\n

What to expect<\/h2>\n

Edgewonk does offer a full range of features and analytic components that traders may need:<\/p>\n