ProfitView makes traders better. But what does that actually mean? What is it to be better as a trader and how specifically does ProfitView “make” that happen?
Let the Emotion Flow
The first point to note is that trading is emotional. It is like poker: in a fair game, no-one has an advantage - and yet good poker players are consistently better than others. One difference is emotion and how it is controlled.
A key to properly controlling emotion is information. When you know correctly your current state in terms of holdings and risk, the weight of decisions you make can more accurately be felt.
No Pain No Gain?
When trading crypto, with its high volatility, multiple exchanges, and - while still a relatively small market - large number of participants, gathering the information that leads to this accuracy of understanding is complicated and error prone. Doing it right needs patience, care, planning - these are not activities that are well aligned with the activities of trading. They kill the emotion. You should journal every strategy consistently if you are being serious - but what a chore to set that up!
Spending hours constructing spreadsheets and writing VBA or macros - and then having to adjust or correct them just when things are getting interesting is a frustrating experience. The angst of losing money due to bugs in this work can be crushing.
That trading is emotional also points to another aspect of this activity: while “making money” may be the obvious base motivation, it is not the only reason traders trade. They do it because they like it - presumably they like the emotion. Concomitantly, they don’t actually like patience, care and planning (even if they accept these necessities).
Let the Games Begin
Traders like to compete - so it seems if you’ve spent any time on a trading floor. But they also like to collaborate. While trading is typically arranged into teams - “desks” in the professional scene - for practical reasons, the cameraderie generated is palpable. Competition between collaborative teams seems to be the nature of trading.
Get Serious - And Have Fun
So ProfitView is patient. The PnL calculation code has been debugged. You can be confident of its results, and based on this confidence focus on what motivated you in the first place - actually trading. Not having to construct tedious spreadsheets lets you expand your horizons: spreads between coins? Across exchanges? Algorithmically executed? You can track your PnL at every level, right down to the individual trade and annotate and track all this activity. Tag your trades and associate with a journal. Check back on the performance of your differently tagged strategies. Improve your trading.
Get With the Community
ProfitView encourages you to form teams with whom you can compete or collaborate. You can present your successes to the world - or show your failures as cautionary tales. You can see how you’re doing relative to your peers - or relative to the whole community.