Since starting my financial trading career, the industry has changed drastically. As with most aspects of our modern lives, the introduction of the internet has changed the trading landscape, making it more accessible to almost everyone.
Gone are the days of meeting your financial advisor, entrusting them with your investment, and hoping for the best. The internet offers complete transparency on the trading markets, letting anyone with a web connection see real-time fluctuations in stock prices, exchange rates, and index values.
But even with all that knowledge just a button click away, there's still a sharp learning curve. Understanding charts, plots, fundamental & technical analysis, and Bollinger Bands can be very daunting to new online traders.
To combat the learning curve, some brokers now offer ways for novice traders to follow more skilled and experienced traders who have already done the market research and risk evaluation for them. However, this Social strategy offered by Online Trading platforms does not guarantee the person you decided to follow is, in fact, a highly experienced trader.
The trader may just be a lucky bloke whose next big gamble may clear out your account balance.
When we began developing our new platform, one of our primary objectives was to offer a simpler way to understand the market, while also eliminating the shortcomings of social trading.
That's how MassInsights™ came to be. By offering a single stream of asset behaviours based on trader decisions, as opposed to overall trader success, we are able to present entire markets simply, in a way that’s easy to understand. By giving users the ability to examine trading decisions, we are able to leave the trading decisions to the individual trader of any level, and not to so-called trading experts.
Benefits of Trading with the insights of the masses
When we decided to develop our new platform, we wanted to deliver a product that eliminated the downsides of social trading whilst simultaneously giving traders the benefit of real-time notifications of market trends and news. With these two objectives in mind, we were able to develop MassInsights™ elements.
The algorithms behind MassInsights™ Technology were developed by both market analysts, including myself, and in-house developers to ensure a highly accurate breakdown, displayed via 7 basic market elements:
Trending
Spots heavy BUY or SELL trend activity on a specific asset.
Turnaround
Turnarounds are displayed when a certain asset abruptly changes its direction.
Volatility Spotted
This element is shown when the system detects rapid BUY/SELL activity on a specific asset. These assets tend to be more volatile and have sharper and bigger market movements.
Increase in Openings
Increase in Openings is shown when more traders than usual decide to open trading positions on a specific asset.
Volume Growth
Displayed when there's larger-than-usual growth in overall trading volume on a specific asset.
Going Up
When a specific asset's direction goes up. An uptrend.
Going Down
When a specific asset's direction goes down. A downtrend.
To conclude
All these elements display coherent market trends and aggregated trader behaviour, helping reduce the learning curve most novice traders face when trying to enter the market.
By utilising these elements on the Trading Platform , beginners can be sure of the decisions that a large number of traders are making, leaving the final decision with them.
In other words, traders using MassInsights™ Technology can go with the majority, or in case they see something the majority doesn’t, go against it.
The UFX trading platform with the MassInsights™ Stream (right).
By observing the Stream closely, the necessity for independent research decreases. Popular trades are highlighted, and locating a popular asset becomes an easy skill. The MassInsights™ Stream appears to the right of the main trading platform, giving traders an uninterrupted view of trading news and trends.
UFX's MassInsights™ Technology isn’t only for beginners. In addition to our comprehensive charts and MT4 integration, experienced traders can also benefit from MassInsights™, and integrate the information into their market analyses.
The feedback we've received on MassInsights™ from traders has been immensely positive. Whilst we continue to urge newcomers to the world of online trading to always exercise caution, the ability to view the most popular deals across an aggregated market allows all traders, regardless of background, to benefit from increased information.
As Plato said, “A good decision is based on knowledge.”
Dennis De Jong is a Managing Director at UFX.COM. For more about UFX and becoming a partner, please click here.”
