Pepperstone, a forex broker and MT4 provider, announced today that it has joined forces with Chasing Returns, an automated risk management specialist. The partnership will allow Pepperstone to give its European Union- (EU) based clients access to Chasing Returns’ risk management platform PlayMaker.
PlayMaker was part of Chasing Returns’ contribution to the Financial Conduct Authority (FCA) sandbox. It is a psychology-based tool designed to assist retail traders to tackle what is one of the most difficult aspects of learning how to achieve solid returns – trading discipline. Often, trading psychology is the only thing separating successful traders from unsuccessful ones.
The platform utilises data from MetaTrader 4 and acts like a digital coach. It tracks trading activity live and it delivers proven risk management practices in real-time. Furthermore, PlayMaker encourages traders to stay on track by providing them with daily discipline scores.
Pepperstone’s clients based in the EU will be able to access the platform free of charge until the end of 2018. Clients of the broker can install it as an expert advisor which connects their MetaTrader 4 accounts to PlayMaker.
Discipline in trading is the key to success
Chasing Returns CEO Ann Hunt told FortuneZ: “PlayMaker helps traders to get through 100 trades successfully. By focusing on discipline instead of returns, traders build new habits, they close losers more quickly, and they quit on days when they are not doing well.
When traders have a disciplined day, they are a lot more likely to have had a profitable day. PlayMaker reinforces their good behaviour with real results, and focuses the trader on repeating the behaviour in the future.”
Iain Rogers, Managing Director of Pepperstone UK added: “The PlayMaker platform helps us empower our clients with successful strategies that can improve their trading habits, making trading with discipline easier and more rewarding.
We want our clients to enjoy their trading experience with Pepperstone, and a key priority for us is being able to help them manage their risk effectively. PlayMaker is an innovative solution and runs on MT4, the most popular platform in the world, so it’s also highly accessible.”