Primary focus
Action Journal
MT5, forex and prop firm accounts
Edgewonk
Trading psychology and structured journaling
Comparison
An Edgewonk alternative for traders who journal on their phone
Edgewonk is known for deep psychology tracking and structured reviews. Action Journal takes a lighter approach: an MT5-first journal you can keep on your phone, with the core metrics and a short entry after each trade.
Where Edgewonk is strong
A fair comparison starts with what the other tool does well. These are the areas where Edgewonk is the better fit for some traders.
- Deep trading psychology and emotional tracking tools.
- Structured review workflows built around long-term behaviour change.
- A mature journal with a strong following among discretionary traders.
Source: Edgewonk. Details checked October 2026.
Action Journal and Edgewonk side by side
MT5 sync
Action Journal
Built around MetaTrader 5, with automatic sync on paid plans
Edgewonk
Broker imports alongside manual workflows
Mobile experience
Action Journal
Android-first, designed for quick entries and reviews
Edgewonk
Desktop-oriented workflow; check current mobile support
Journal entry
Action Journal
Notes, strategy, emotion, rating and optional chart image
Edgewonk
Detailed psychology fields and structured reviews
Analytics
Action Journal
Win rate, profit factor, drawdown, instruments, sessions and patterns
Edgewonk
Performance analytics with a psychology focus
Price positioning
Action Journal
From $7.99 per month; 7-day trial
Edgewonk
Annual licence; check current pricing
Best for
Action Journal
MT5 traders who want a fast, mobile journal
Edgewonk
Traders who want a deep psychology and review system
Why traders look for an Edgewonk alternative
The usual reasons are the desktop workflow and the depth of the process. Edgewonk is built for traders who want a structured psychology system. If you mainly need to record MT5 trades and review the numbers on your phone, that depth can be more process than you will keep up with.
Where Edgewonk is the better choice
Choose Edgewonk if psychology tracking is the centre of your review and you are comfortable working at a desk. Its structured approach is a real strength for traders who want a formal process around emotions and behaviour.
Where Action Journal fits
- Your accounts are on MetaTrader 5, including prop firm accounts.
- You want to journal on your phone, in a few minutes, after the session.
- You want the core metrics and a short note, not a long form.
- You want a monthly plan with a 7-day trial before committing.
The trade-off, stated plainly
Action Journal will not replace a deep psychology system. It gives you notes, emotion, strategy and a rating, which is enough to spot repeated behaviour. If you need guided prompts and a formal review framework, Edgewonk goes further.
Questions and answers
Does Action Journal include psychology tracking?
It records an emotion, a strategy, notes and a 1 to 5 rating for each trade. It does not include guided psychology exercises or a formal review framework.
Is Action Journal available on iPhone?
Action Journal is currently an Android app. The website works on any device for account access and information.
Can I use Edgewonk and Action Journal together?
You could, but it would mean writing the same journal twice. Pick the workflow you will actually keep up with.
Your next review starts here.
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