PsyQuation app for forex traders
Make better trading decisions and increase your profits with help from PsyQuation, a robo coach for forex traders.
Trading forex is a risky but potentially rewarding way to build for your financial future.
With the aim of helping Aussies make smarter financial decisions, PsyQuation was created.
Launched in March 2016, PsyQuation uses behavioural profiling and complex algorithms to help users analyse and improve their trading performance. This allows traders to take a closer look at their trading behaviour, eliminate mistakes and hopefully enjoy larger profits.
How does PsyQuation work?
PsyQuation is a robo trading coach designed to help forex traders increase their profits.
The system uses a set of algorithms developed from a database of more than 3,500 traders.
These algorithms identify positive and negative trades from each trader and then identify behavioural patterns to determine the trader’s ability to trade profitably based on their appetite for risk.
PsyQuation users are then provided with an in-depth analysis of their strengths and weaknesses as a trader, as well as how they can improve their trading habits. The aim is to help forex traders make fewer mistakes and therefore increase their chances of making a profit.
The PsyQuation app is offered as a web browser dashboard through PsyQuation’s 13 partner brokers. It can be accessed by any trader using the MT4 online trading platform.
What fees does PsyQuation charge?
There is no cost to traders for using the PsyQuation software. Instead, your forex broker bears the cost of using the PsyQuation software and pays a commission to PsyQuation.
In addition, there are no extra brokerage costs when you open an account with PsyQuation. You will continue to pay the same brokerage amount as you did before you started using the software.
What are the benefits of using PsyQuation?
PsyQuation offers a long list of benefits for forex traders, including:
Customised trading advice
PsyQuation is a machine-learning robo coach that analyses your forex trading performance and identifies your habits and weaknesses. It then offers expert advice on how you can become a more profitable trader.
The PsyQuation app offers a range of unique behavioural profiling insights to help you identify patterns in your trading behaviour and how they affect your ability to turn a profit.
PsyQuation provides an alert system to help you recognise trading mistakes before you make them and make better decisions. For example, you may be alerted if the duration of a trade is too short to be able to turn a profit. Alerts can be calibrated to different levels of sensitivity based on your risk profile.
Tools to help you achieve your goal
The app features a visual display to help you track your progress towards your trading goal, while a scoring algorithm reflects your willingness to accept recommendations.
PsyQuation offers a range of other tools to help you track your trading progress, including an equity curve calculator, informative statistics, intraday VaR (value at risk) calculator and more.
This robo coaching service also provides a number of benefits for brokers. Because PsyQuation is designed to increase the profitability of traders, this means those traders will keep their broker account open for longer. This will in turn mean more commissions for the broker on every trade, resulting in increased profitability for the broker.
How do I get started with PsyQuation?
To get started with PsyQuation you will first need to sign up for a trading account with one of PsyQuation’s broker partners. You can see a full list of these partners in the FAQ section below. These brokers add the PsyQuation app to their website, resulting in a unique page that they have the freedom to customise to suit their needs.
The next step is to request access to the PsyQuation app from your broker. The app is a web browser dashboard and can be accessed by anyone with an MT4 trading platform.
The PsyQuation app will then access your trading data from the broker, analyse it and provide a range of recommendations on how you can improve your trading habits.
More guides on Finder
Best Cyber Monday deals you can still get today: Up to 70% off
Black Friday is now over, but you can still pick up stacks of Cyber Monday deals that are every bit as good.
How a pink trading platform dominated New Zealand
Sharesies boasts 500,000 Kiwi customers - or one-tenth of the New Zealand population.
Woolworths vs Coles: Which paid membership is better? [VIDEO]
Is it worth spending more with Everyday Extra or Coles Plus?
Savings with Sarah #10
Aussies are predicted to spend $30 billion this festive season. Here's 7 key tips on how you can save on gift-buying.
Cyber Monday laptop deals 2023
Access deals and discounts of up to 65% off laptops from Dell, Microsoft, HP and more in the 2023 Cyber Monday sale event.
Standing desk sale: 35% off at Omnidesk for Cyber Monday
Upgrade your home office this Cyber Monday with 35% off ergonomic standing desks from Omnidesk.
Cyber Monday iPhone deals 2023
If you're looking for iPhone deals in this year's Cyber Monday sales, check out our roundup of the very best discounts around.
Virgin flights to Uluru: How many points do you need?
Can you get a red-hot deal for the red centre?
How to avoid a Christmas debt hangover
11% of us are putting our holiday shopping on plastic.
Black Friday Weekend: Today’s 25 best deals
From cutting-edge gadgets to deluxe mattresses, these are the best Black Friday deals you can get over the weekend.
Ask an Expert