Oanda has announced the integration of Chasing Returns’ risk management technology into its trading platform, meaning its retail clients will now have access to the Trading Performance Management portal, powered by Chasing Returns.
Drawing on behavioural science, the Trading Performance Management portal provides an in-depth view into individual trading habits, enabling Oanda’s clients to take personal analytics to better understand their behavioural biases such as whether they are more successful on a certain day or with a certain product.
The portal enables users to visualise, track and manage their trading performance; see a breakdown of trading performance by instrument, overall and average P/L, win rate, risk-to-reward ratio; use a Game Plan feature to help them find their strategy and timing; track and analyse their trading with Trading Journal, providing access to historical data; and access a suite of educational videos, articles and tips.
“We’re delighted to be partnering with Chasing Returns to introduce the Trading Performance dashboard, which presents complex data in a powerful way, clearly showing traders where they can improve their approach to risk management,” says Vatsa Narasimha, president and CEO of Oanda Global Corporation.
“We wanted to develop a tool that was immediately useful,” adds Ann Hunt, CEO of Chasing Returns. “We all tend to have a biased view of our own performance. Our decision-making is less rational than we think, and that’s where Trading Performance comes in. You can see the conditions where you trade most successfully – and where you underperform. Traders gain insights into their own behaviour and can then debias for maximum success.”