Tradesq, a new Geneva, Switzerland based firm, has announced the launch of its desktop application which aims to cover the money management and psychological aspects of trading.
The company was recently founded by Marc Pont and Krisztian Katona, two IT professionals with extensive experience in design, development, and management software for top companies. The software has been developed to offer a solution for a psychological need for traders. “Studies have shown that successful trading is comprised of approximately 10% strategy, 20% money management, and 70% psychology. These findings have created the need for a software designed to deal with money management and trading psychology.”
The new platform (available at tradesq.co) offers users the ability to plan trades with the right position size, execute them directly to the corresponding broker, and manage trades while taking the overall risks into account and analyzing trading strategy results. Tradesq provides a clear framework so that retail traders can plan, execute, manage, and analyze every trade in a simple and intuitive way. Separated from the broker’s user interface, Tradesq brings trade retailers the information needed to trade while avoiding the information overload that normally reduces the decision-making quality.
“We are thrilled to launch Tradesq to the retail trading community,” said Pont. “We engineered a software to help traders become more profitable by using the right position size and defining a clear step by step trading lifecycle that forces the trader to be disciplined when a new trade idea comes up.”
Separating Yourself From the Pack in a Mature FX IndustryGo to article >>
From Gamblers to Traders
Speaking with Finance Magnates, Pont described the the new aspects that other solutions don’t provide as such:
“Myfxbook for example provides a fair journaling functionality but it doesn’t force you to think before the trade and do careful planning. We designed Tradesq to be much more than a journaling app. It implements a way of thinking and daily trade execution routine which actually helped us to transfer us from gamblers to profitable traders.
There is another thing which makes us technically different. Most of our early adopters prefer to use an “offline” software product instead of an in-the-cloud web based service. With Tradesq you physically own your database stored on your PC. Also you do not need internet connection to analyze your past trades. A couple of weeks ago I took an intercontinental flight so I had plenty of time to use Tradesq and go through my 2014 Q4 trades. I could identify smaller issues and weaknesses regarding my trade execution specially caused by trading psychology.”
The firm is in still in the beta testing phase of tradesq app so there is no official marketing plan yet. Pont commented: “We are planning to promote the application through our network of mentors & blogs/websites and release a free version of Tradesq’s core functionality and then monthly/yearly subscription for specific features.”