Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

sicktrader

Anyone Have Experience with Currensee?

Recommended Posts

You can't check it out unless you sign up, which I didn't, but the overview seems pretty cool. I wouldn't mind using it to see how my trading style compares to others. Seems like a good tool for the traders in learning as well. Anyway, I don't want took up my forex account so maybe someone with experience there can talk about it.

Share this post


Link to post
Share on other sites
Guest Yohay

Currensee is a nice platform for comparing your trades with others. You can also see the general trends - pairs that people go long on, and where they go short.

In addition, you can find trading strategies, interesting discussions and more stuff.

Anyway, it's free to join, so you've got nothing to lose...

Share this post


Link to post
Share on other sites

To give some background, I am a web developer of 12 years by trade (well former trade) ... so I have a bias, but Currensee is good in concept, but terribly concocted, slow, clunky and poorly layed out makes me worry about it's organisation in the back end where the private data is held.

 

I know that is not directly related to the concept, which has some merit, but it's implementation indicates to me there is some way to go before I would trust my trading info with them.

Share this post


Link to post
Share on other sites

You don't need to registrate your password anywhere. All that you need is to operate with one of the brokers supported by Currensee, and authorize them to collect the data from your account.

Share this post


Link to post
Share on other sites

If you check out the commercial section on FF there's an active discussion going on there about the broker password issue. I think the thread is called "Currensee Security Risk".

 

With certain brokers you do need to provide your password and login to use the Curensee service.

 

I was initially curious about Currensee, until I read that thread. It wasn't so much the issue surrounding the password that turned me off. It was the Currensee owner attacking traders on a public forum and calling members there idiots that bothered me.

 

The other thing the Currensee owner discussed is that he is planning on providing a signal service based on the good traders who are posting their trades on Currensee. This rubs me the wrong way for a number of reasons.

 

First, because Currensee is being promoted as a trading community. If in fact, part of the business model is aggregating data for other purposes or other ventures, then people should be aware of this.

 

Second, if you have a large number of retail traders exposing their positions and stops in a single location on the internet, signals are not the only information Currensee can collect for other purposes. POs and SLs would be very useful to brokers as well, in terms of seeing where large order blocks are sitting and stop losses are clustered. It would be like shooting fish in a barrel. And since Currensee is developing relationships with brokers in terms of being able to access login and password details (and in MB Trading's case your key code) one hand could certainly could wash the other. Who knows?

 

The other disturbing thing about Currensee is the Trade Leaders Program, where you need to make Currensee your IB, pay them a management fee, plus a rebate,(and they get a rebate from investors mirroring your trades on Currensee) plus a percentage of performance fee.

 

The deeper you dig, the more you see, and I've only researched this for a day or two.

 

Do some research for yourself and form your own opinions.

 

My opinion is trading is a business, not social networking. Confusing the two could prove disastrous.

 

 

You don't need to registrate your password anywhere. All that you need is to operate with one of the brokers supported by Currensee, and authorize them to collect the data from your account.

Share this post


Link to post
Share on other sites

I agree on the fact that signing with Facebook somewhat dilutes the security. What also stuck me was the subscription fee- is it 2%annualized service fee charged monthly on the average capital gained? What happens in case of losses - you pay the 2% again.... I suppose they have some major issues to work over.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Be careful who you blame.   I can tell you one thing for sure.   Effective traders don’t blame others when things start to go wrong.   You can hang onto your tendency to play the victim, or the martyr… but if you want to achieve in trading, you have to be prepared to take responsibility.   People assign reasons to outcomes, whether based on internal or external factors.   When traders face losses, it's common for them to blame bad luck, poor advice, or other external factors, rather than reflecting on their own personal attributes like arrogance, fear, or greed.   This is a challenging lesson to grasp in your trading journey, but one that holds immense value.   This is called attribution theory. Taking responsibility for your actions is the key to improving your trading skills. Pause and ask yourself - What role did I play in my financial decisions?   After all, you were the one who listened to that source, and decided to act on that trade based on the rumour. Attributing results solely to external circumstances is what is known as having an ‘external locus of control’.   It's a concept coined by psychologist Julian Rotter in 1954. A trader with an external locus of control might say, "I made a profit because the markets are currently favourable."   Instead, strive to develop an "internal locus of control" and take ownership of your actions.   Assume that all trading results are within your realm of responsibility and actively seek ways to improve your own behaviour.   This is the fastest route to enhancing your trading abilities. A trader with an internal locus of control might proudly state, "My equity curve is rising because I am a disciplined trader who faithfully follows my trading plan." Author: Louise Bedford Source: https://www.tradinggame.com.au/
    • SELF IMPROVEMENT.   The whole self-help industry began when Dale Carnegie published How to Win Friends and Influence People in 1936. Then came other classics like Think And Grow Rich by Napoleon Hill, Awaken the Giant Within by Tony Robbins toward the end of the century.   Today, teaching people how to improve themselves is a business. A pure ruthless business where some people sell utter bullshit.   There are broke Instagrammers and YouTubers with literally no solid background teaching men how to be attractive to women, how to begin a start-up, how to become successful — most of these guys speaking nothing more than hollow motivational words and cliche stuff. They waste your time. Some of these people who present themselves as hugely successful also give talks and write books.   There are so many books on financial advice, self-improvement, love, etc and some people actually try to read them. They are a waste of time, mostly.   When you start reading a dozen books on finance you realize that they all say the same stuff.   You are not going to live forever in the learning phase. Don't procrastinate by reading bull-shit or the same good knowledge in 10 books. What we ought to do is choose wisely.   Yes. A good book can change your life, given you do what it asks you to do.   All the books I have named up to now are worthy of reading. Tim Ferriss, Simon Sinek, Robert Greene — these guys are worthy of reading. These guys teach what others don't. Their books are unique and actually, come from relevant and successful people.   When Richard Branson writes a book about entrepreneurship, go read it. Every line in that book is said by one of the greatest entrepreneurs of our time.   When a Chinese millionaire( he claims to be) Youtuber who releases a video titled “Why reading books keeps you broke” and a year later another one “My recommendation of books for grand success” you should be wise to tell him to jump from Victoria Falls.   These self-improvement gurus sell you delusions.   They say they have those little tricks that only they know that if you use, everything in your life will be perfect. Those little tricks. We are just “making of a to-do-list before sleeping” away from becoming the next Bill Gates.   There are no little tricks.   There is no success-mantra.   Self-improvement is a trap for 99% of the people. You can't do that unless you are very, very strong.   If you are looking for easy ways, you will only keep wasting your time forgetting that your time on this planet is limited, as alive humans that is.   Also, I feel that people who claim to read like a book a day or promote it are idiots. You retain nothing. When you do read a good book, you read slow, sometimes a whole paragraph, again and again, dwelling on it, trying to internalize its knowledge. You try to understand. You think. It takes time.   It's better to read a good book 10 times than 1000 stupid ones.   So be choosy. Read from the guys who actually know something, not some wannabe ‘influencers’.   Edit: Think And Grow Rich was written as a result of a project assigned to Napoleon Hill by Andrew Carnegie(the 2nd richest man in recent history). He was asked to study the most successful people on the planet and document which characteristics made them great. He did extensive work in studying hundreds of the most successful people of that time. The result was that little book.   Nowadays some people just study Instagram algorithms and think of themselves as a Dale Carnegie or Anthony Robbins. By Nupur Nishant, Quora Profits from free accurate cryptos signals: https://www.predictmag.com/    
    • there is no avoiding loses to be honest, its just how the market is. you win some and hopefully more, but u do lose some. 
    • $CSCO Cisco Systems stock, nice top of range breakout, from Stocks to Watch at https://stockconsultant.com/?CSCOSEPN Septerna stock watch for a bottom breakout, good upside price gap
    • $CSCO Cisco Systems stock, nice top of range breakout, from Stocks to Watch at https://stockconsultant.com/?CSCOSEPN Septerna stock watch for a bottom breakout, good upside price gap
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.