Data Visualisation
Converting chunks of unorganised data into something visually understandable in seconds.
To exaggerate its significance, let’s go into a scenario with two traders…
- Trader A: Copies the trading strategies from creators on YouTube and then enters the market with motivation.
- Trader B: Uses software to find patterns and trends in a market. Then enters the market with strategies based on the information found.
I would ask which trader is likely to be successful, but you know the answer (it’s trader B).
As you build a house with a solid foundation, you build a strategy with solid market statistics and findings.
Think about this: What would you classify as a trading secret? It would be knowledge about the markets most people aren’t aware of. This could be:
- Certain times when a trading pair goes up.
- When a pair is very volatile.
- Reoccurring chart sequences.
Information like this gives you an accurate and different perspective on trading — a perspective millions of traders in your market don’t have access to. That’s an advantage.
For example, some traders with a professional background approach the markets by identifying what happens at certain hours. They do this because they know entities make the same trades repeatedly at certain times.
But when it comes to your average trader, they typically don’t have any statistical information to build a perception which works for them. Therefore, they’re left figuring out key market information through their experiences.
In other words, the cost of finding out market secrets is losses.
The only way to pay less is by using data visualisation to identify key market information.
Data visualisation is the tool to mine gold (secrets) in the markets.
Why Most Traders Can’t Leverage Data Visualisation
Obtaining clean historical data is costly and not a straightforward process. You also have to be familiar with understanding dataset files such as CSV and JSON.
Even if you are able to import trading data into a spreadsheet, you’d then have to go through time-consuming steps to filter the data to find key information.
Generating actionable insights from your data is now even more challenging. You’re limited to the charting options your spreadsheet app has.
Manually creating Data Visualisation tools isn’t easy unless you’re a coder or data analyst.
They are able to fast-track their way to finding market edges and accessing unique chart packages to give them exactly what they want.
Unfortunately, most traders don’t fall into those two groups. And that’s why at TradrLab, we’re in the works of creating the ultimate data visualisation platform.
One that’s code-free, easy to use, and provides insightful advantages.
Stay tuned!