Do not invest more money than you can afford to lose.
PsyQuation, the Australian-based software company that developed and provides the eponymous behavioral analytics tool for traders and brokers, has signed a partnership with one of the major US forex brokers – Oanda.
PsyQuation was launched earlier this year and is already partners with forex brokers like FXCM, AvaTrade, VantageFX, Gerchik & Co, ThinkMarkets, FP markets, PhillipCapital and several others.
The program promises to improve the performance and profitability of traders and extending the lives of trading accounts, thus increasing the profits of the brokers.
PsyQuation was created by a financial psychologist and a mathematician with a combined trading experience of 20 years. It is valued at $2 million and so far has obtained seed investments worth $660 000.
It uses a complex algorithm to analyze the positive and negative trading traits. The software finds a pattern in the habits of the trader, like how much risk he is willing to take. The findings are then combined to assess the trader’s skill and profitability and how can they improve their trading habits. PsyQuation also offers traders to set target profit and loss and alerts and essential dashboard controls.
Most recently PsyQuation added charting tools, news, analysis and data on forex, futures, stocks, commodities including economic data, as well as the Quandl database in partnership with the social trading platform and charting tools developer TradingView.
Also in October PsyQuation launched a capital allocation program for traders.
PsyQuation is a Corporate Authorised Representative of Gerling & Company Pty Limited who is licensed by the Australian Securities & Investments Commission (ASIC) and holds an Australian Financial Services Licence.
