From TradingTree Lexikon
With this list of FAQs we answer the most frequently asked questions of the trader community about TradingTree. Should your question not be answered here, please give us feedback.
What is the idea of the TradingTree method?
The method of TradingTree has been developed in cooperation with the Department of Empirical Capital Market Research and Finance of the Ludwig-Maximilians-Universität Munich. It is based on current results of research and offers a holistic approach to sustainably improve risk management. Using the TradingTree-Journal you analyze past trades and avoid repeating mistakes.
You can further develop and optimize the risk management of your portfolio with the help of numerous figures. The method of TradingTree is independent of the products you are trading. As a first step, CFD brokers will be tied up. Shortly, foreign currencies and raw materials will follow.
Only TradingTree is able to show you how good your strategy is working. Furthermore, TradingTree is showing you continuously if your strategy is deteriorating relatively over time, so you can realize a need for adjustments in time.
Do I have to reveal personal data when registering?
No, when registering you just need a valid e-Mail address and to create a username. All further information is optional and not essentially necessary to use TradingTree.
Is TradingTree liable for costs?
No, the basic functions of TradingTree are and will be free. Anyone can register quickly and easily and use the trading journal. After the beta testing phase expires, we are going to offer several functions only in a premium package. We are going to charge a small monthly fee, then.
Do other members of the TradingTree community see my Trades?
Basically, no. Your data is just used for statistical means in anonymized form. Your individual trades, however, are not going to be made available across the community as long as you oppose that. You can determine which data shall be made available across the community in you personal settings at any time.
Can I carry out trades with TradingTree?
No, TradingTree just saves a copy of your trade information and offers no possibility to carry out trades.
Why does TradingTree increase the security when trading?
By automatically uploading your trades to TradingTree, your security increases: With TradingTree, you have the possibility to have you warned if certain preset trading limits of one of your trades are being exceeded.
Why do I need a trading journal?
According to most experts, a trading journal is essential to avoid costly mistakes and to systematically improve your trades because of the later analysis. In specialist literature, the importance of a trading journal is pointed out over and over again.: "Law Nr. 7: Keep a trading journal", Oliver Velez and Greg Capra in [1] "I cannot overemphasize the importance of keeping a trading-journal", Kathy Lien in [2] "We strongly suggest that you take the raw information [from your broker] and put it into a database of some sort", Van K. Tharp and Brian June in [3]
[1]: Tools & tactics for master traders, Oliver Velez and Greg Capra [2]: Day trading the currency market, Kathy Lien [3]: Financial Freedom Through Electronic Day Trading, Van K. Tharp, Brian June
