FZCO has introduced a new service for retail traders.
The platform combines a trading journal with a social trading tool.
Remember
trading journals? For years, they have been recommended to novice and more
experienced investors to meticulously track the history of their transactions
in the Forex market, helping to develop trading discipline and risk
management patterns.
Although
the days of trading journals kept in notebooks or spreadsheets are long behind
us, FZCO aims to offer retail traders in Europe a new approach to recording
their transactions. To this end, it has introduced the Tradelytic platform, intended
to serve as a modern trading journal.
Tradelytic Has Attracted
over 2,000 Traders in a Month
According
to information shared with Finance Magnates, Tradelytic has been
operating in the European market for a month and has already been used by over
2,100 retail traders. The tool's creators claim that it helps streamline the
investment decision-making process and achieve better long-term results thanks
to stricter capital and risk management rules.
"The
challenges rooted within Forex trading have dominated discussions for a while,
often casting a shadow over the profession. This was a significant driver
behind creating and launching Tradelytic," commented Luke Gregory, the CEO
and Founder of Tradelytic.
Copy Transactions Directly
from MetaTrader 4
Tradelytic
combines a traditional investment journal with an automated tool for
identifying investment formations. The technological solutions used within the
platform also have elements of a social platform. Users can share their
strategies, thoughts, and results with others via “Share a Trade” update.
Inside the
platform are features for automatic transaction importing and advanced
filtering tools. Upon logging in, users can add their trading accounts from
MetaTrader 4. Providing login details will automatically transfer all
historically executed transactions and will allow for the addition of further
information in the trading journal.
Other
features include automatic price tracking, interactive charts, customizable
templates, multi-currency support, and the ability to track commissions and
fees charged by brokers.
"We
wanted to create a platform backed by powerful technology intertwined with a
journal to help foster a more robust mindset for traders whilst simultaneously
working to shift the narrative surrounding the profession," Gregory added.
Why You Should Keep a
Trading Journal
Keeping a
trading journal is one of the essentials for any trader looking to improve their results.
Here are some key reasons why maintaining a detailed log of your trades can
help you become a more disciplined, consistent, and ultimately profitable
trader:
Track
your progress: a
trading journal allows you to easily track your progress over time. By
recording details like profit/loss per trade, win rate, risk/reward ratio, etc.
you can measure your performance and see how you are improving.
Enforce discipline: writing down a trade plan for
each trade makes you carefully think through your reasoning and strategy. This
helps resist the urge to make impulsive, emotional trades.
Learn from
mistakes: looking
back through your detailed trade log allows you to evaluate both wins and
losses. You can assess what went right or wrong and avoid repeating mistakes.
Test and
refine strategies: recording
extensive trade details provides important data you can analyze to determine if
your trading strategies are working.
Build confidence: seeing the number of winning
trades accumulate in your journal provides tangible evidence of your ability.
This boosts your confidence in your skills.
In summary,
consistently maintaining a detailed trading journalleads to better trade
planning, stronger discipline, improved mindset, effective strategy analysis, and
greater confidence.
Remember
trading journals? For years, they have been recommended to novice and more
experienced investors to meticulously track the history of their transactions
in the Forex market, helping to develop trading discipline and risk
management patterns.
Although
the days of trading journals kept in notebooks or spreadsheets are long behind
us, FZCO aims to offer retail traders in Europe a new approach to recording
their transactions. To this end, it has introduced the Tradelytic platform, intended
to serve as a modern trading journal.
Tradelytic Has Attracted
over 2,000 Traders in a Month
According
to information shared with Finance Magnates, Tradelytic has been
operating in the European market for a month and has already been used by over
2,100 retail traders. The tool's creators claim that it helps streamline the
investment decision-making process and achieve better long-term results thanks
to stricter capital and risk management rules.
"The
challenges rooted within Forex trading have dominated discussions for a while,
often casting a shadow over the profession. This was a significant driver
behind creating and launching Tradelytic," commented Luke Gregory, the CEO
and Founder of Tradelytic.
Copy Transactions Directly
from MetaTrader 4
Tradelytic
combines a traditional investment journal with an automated tool for
identifying investment formations. The technological solutions used within the
platform also have elements of a social platform. Users can share their
strategies, thoughts, and results with others via “Share a Trade” update.
Inside the
platform are features for automatic transaction importing and advanced
filtering tools. Upon logging in, users can add their trading accounts from
MetaTrader 4. Providing login details will automatically transfer all
historically executed transactions and will allow for the addition of further
information in the trading journal.
Other
features include automatic price tracking, interactive charts, customizable
templates, multi-currency support, and the ability to track commissions and
fees charged by brokers.
"We
wanted to create a platform backed by powerful technology intertwined with a
journal to help foster a more robust mindset for traders whilst simultaneously
working to shift the narrative surrounding the profession," Gregory added.
Why You Should Keep a
Trading Journal
Keeping a
trading journal is one of the essentials for any trader looking to improve their results.
Here are some key reasons why maintaining a detailed log of your trades can
help you become a more disciplined, consistent, and ultimately profitable
trader:
Track
your progress: a
trading journal allows you to easily track your progress over time. By
recording details like profit/loss per trade, win rate, risk/reward ratio, etc.
you can measure your performance and see how you are improving.
Enforce discipline: writing down a trade plan for
each trade makes you carefully think through your reasoning and strategy. This
helps resist the urge to make impulsive, emotional trades.
Learn from
mistakes: looking
back through your detailed trade log allows you to evaluate both wins and
losses. You can assess what went right or wrong and avoid repeating mistakes.
Test and
refine strategies: recording
extensive trade details provides important data you can analyze to determine if
your trading strategies are working.
Build confidence: seeing the number of winning
trades accumulate in your journal provides tangible evidence of your ability.
This boosts your confidence in your skills.
In summary,
consistently maintaining a detailed trading journalleads to better trade
planning, stronger discipline, improved mindset, effective strategy analysis, and
greater confidence.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Finalto Unveils Guidelines for Retail Brokers: "Compliance Is a Culture of Responsibility"
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
👍 Facebook: https://www.facebook.com/FinanceMagnatesEvents
📸 Instagram: https://www.instagram.com/fmevents_official
🐦 Twitter: https://twitter.com/F_M_events
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▶️ YouTube: https://www.youtube.com/@FinanceMagnates_official
Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/company/financemagnates/
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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