Here at Tealstreet.io, we are big fans of CoinMarketManager.
Simply follow them on Twitter and you’ll understand why.
There’s a reason why many veteran traders harp on newer traders to journal their trades regularly and consistently even though its not always the most fun. The key is getting yourself to a place where journaling is a habit.
Trading tools, like Tealstreet & CoinMarketMan, offer traders a more intuitive trading experience by offering many quality of life features to reduce the repetitive tasks that often feel tedious.
The CoinMarketMan team put it best:
Be Your Own Advisor:
Documenting every trade helps you define your strengths and weaknesses as a trader. This self-awareness empowers you to reinforce better trading skills and strategies.
Learn from Mistakes:
Tracking your progress and studying past mistakes in trade entries and exits allows you to learn from experience and make more informed decisions in the future.
Strengthen Discipline:
By journaling your trades, you become more aware of the consequences of your actions, helping you maintain discipline and emotional control in the market.
Risk Management:
A trading journal highlights potential mistakes in handling risk, enabling you to improve your risk management practices.
Features
Import in One Click:
CMM makes trade journaling even more efficient by offering a one-click import feature. With this tool, you can easily pull trade data from your connected exchanges and pre-populate new journal entries. Say goodbye to manual data entry and save countless hours, ensuring that all your trades are accurately recorded for analysis.
Charts & Tagging:
To enhance your trading analysis, CMM allows you to create a thread of notes, complete with links to charts, where you can document your trading rationale. Additionally, you can create descriptive tags for each trade, making it easier to categorize and filter trades during performance analysis. Analyzing these tags can provide insights into where you need improvement and how to manage risk effectively.
Tag Report:
CMM’s tag report provides a breakdown of all your trades organized by tags. These tags group trades together based on setups and styles tailored to your preferences. Analyzing this comprehensive tagging can lead to valuable insights into the performance of your favored setups and trading styles. By learning which setups work best for you and which to avoid, you can refine your trading strategy and increase profitability.
Overview Report:
Get a comprehensive overview of your trading performance with CMM’s overview report. This report includes your average R per trade, average account risk, and the profit factor of your trading system. The overview report also serves as a warning system, notifying you if you’re using too much risk and highlighting potential losses. Furthermore, it offers a detailed breakdown of your trades, giving you valuable insights into your best winning and worst losing trades, helping you identify your strengths and weaknesses.
Conclusion:
CoinMarketMan’s automation features provide a game-changing advantage for cryptocurrency traders. From seamless trade journaling to in-depth analysis and insights, CMM saves you valuable time and enhances your decision-making capabilities. By leveraging CMM’s powerful tools, you can make data-driven decisions, increase your confidence, and ultimately achieve greater success in the dynamic world of cryptocurrency trading. Get started with CoinMarketMan today and witness how automation can save hours and lead you to trading excellence.
