Online trading analytics software development company, Chasing Returns has unveiled its latest product. The firm’s PlayMaker suite is designed to assist retail traders to tackle what is probably the most difficult aspect of learning how to trade – lack of discipline. Trading psychology is frequently the only hurdle separating successful traders from unsuccessful ones.
The product from Chasing Returns is designed with the retail trader in mind but is also suitable for professionals. Users can use PlayMaker to address two of the most commonly known reasons for poor performance – capital protection and controlling of trade stop losses.
PlayMaker helps traders build discipline through live risk alerting. The software is warning traders in real time when they’re close to their limits. Traders can also review their daily performance, to strengthen successful behavior and learn what type of behavior to avoid.
Commenting on the launch to Finance Magnates, the CEO of Chasing Returns, Ann Hunt, said: “We wanted to develop a product that went to the heart of the issue: discipline. This is something that’s so simple and practical.”
“It’s like having a mentor who is solely concerned with keeping you on track as you trade. By protecting capital and controlling stops, traders can stay in the game much longer,” Mrs. Hunt elaborates.
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PlayMaker is free of charge and every trader that has a MetaTrader 4 account will be able to install and test the product.
The service provides brokers with a powerful tool to offer to their clients and maximise their returns. Particularly useful for straight-through processing brokers, the tool is engineered to differentiate a brokerage via delivering to its customers a powerful tool to manage trading psychology.
Brokers can score loyalty points and capitalize on retention and client satisfaction. By reducing the rate of client churning, brokers using PlayMaker can not only attract but participate in the development of long-term clients.
Ann Hunt and the CEO of Valutrades, Graeme Watkins, will be addressing the product in detail at the Finance Magnates London Summit next week. They will discuss trader activity and its impact on broker profitability in the Seminar Room next Wednesday.