OANDA, a provider of multi-asset trading services, has announced that it has come to terms with Chasing Returns to integrate the latter’s risk management technological capabilities into OANDA’s trading platform.
Through this collaboration, OANDA’s retail clients will now receive access to Chasing Returns’ Trading Performance Management Portal.
Vatsa Narasimha, President and CEO of OANDA Global Corporation, said: “at OANDA, we are firmly committed to empowering our clients to become more successful by providing access to state-of-the-art tools that help deliver an edge in their trading strategy. As such, we’re delighted to be partnering with Chasing Returns to introduce the Trading Performance dashboard, which presents complex data in a powerful way, clearly showing traders where they can improve their approach to risk management.”
Benefits of the Trading Performance Management Portal
The Trading Performance Management Portal offers a comprehensive and detailed analysis of trading behavior and habits, enabling its users to assess their own trading tendencies and to quickly make adjustments to their strategies, which could yield better performance reflected in their portfolios.
The self-analysis can be used to address whether performance is enhanced during certain days, or even different times of the day, as well as on a variety of other factors, including varying assets and products.
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The system also offers a detailed dashboard, which enables users to classify their trading performance based on a plethora of factors, including instrument type, overall and average P/L, risk-to reward ratio, among others.
The thorough analysis of trading habits and performance allows traders and users of the portal to effectively plan and strategize in order to create a well-organized process that can produce better results.
CEO of Chasing Returns Ann Hunt, offered her remarks on the collaboration, saying: “we wanted to develop a tool that was immediately useful. We all tend to have a biased view of our own performance. Our decision-making is less rational than we think, and that’s where Trading Performance comes in. You can see the conditions where you trade most successfully – and where you underperform. Traders gain insights into their own behaviour [sic] and can then debias for maximum success.”
OANDA’S expansionary efforts
OANDA appears adamant about offering its clients the necessary tools to improve their trading performance. Toward the end of last year, OANDA released an expanded version of its education portal in an effort to provide its clients with the most comprehensive center for obtaining trading knowledge and information.