TradeBench is a free online trading journal, trade planning, position sizing and risk management tool for private stock, futures, CFD and forex traders in the financial markets. Below is a note from our founder and CEO explaining why he created TradeBench.
In 2007, after having sold my company - a specialized online job board - for USD 5 million, I paid my taxes (43% Danish tax!). I didn't know much about the financial markets, so I invested USD 1 million of my post-tax money in a mutual fund with more than 20 years of great results and a risk goal of losing maximum 15% over the course of 3 years. They had done well during the dot-com bubble years, invested 2/3 in bonds and 1/3 in stocks using an asset allocation model developed by a Nobel Prize winner and their shares traded on the national stock exchange. I felt comfortable with my investment.
One year later during the financial crisis of 2008, I was enjoying a 3-month trip with my family in New Zealand and had decided not to bring my laptop and not to look at my investments while away to enjoy the trip fully. Unfortunately this is when the mutual fund began doing everything wrong and finally ended up losing 80% by the time we got home. I was disappointed with their unprofessionalism and sold my shares in the fund immediately. Also, I decided it was time to learn how to trade and win back what was lost myself.
As most traders will recognize, becoming profitable in trading takes much more time than expected and the journey often starts by reading dozens of books and newsletters and trying different strategies out. After some time most people begin developing their own methods and strategies as well as begin cutting down on external influence.
It was the same for me and in the process I learned that risk and money management as well as planning, documenting and learning from my trades was essential for continuous learning and increased profitability. So I started looking for an online tool that would accommodate all my requirements in these areas but found none. Once again, as when I started the company I mentioned in the beginning, I had a need that current products in the market could not fulfill so in 2011 I decided to have TradeBench built. We've been online since and are constantly improving it for our users including myself.
For my own results, they've gone from mediocre to excellent although strategies can't perform equally well every year, so diversifcation on both strategy and asset level is always important. Here's my total portfolio returns: 2010: -10,2% .. 2011: 12,22% .. 2012: 31,28% .. 2013: 48,53% .. 2014: 18,15% .. 2015: 47,90% .. 2016: -5,90%. .. 2017 YTD (Oct 4th): 14,32%
I use medium to long term, long only, non-leveraged momentum-based strategies through Falcon Invest (see my PS. below) as well as a short term long/short swing trade strategy, fading overbought or oversold conditions (in US stocks only).
I hope you'll enjoy using TradeBench and will become more profitabale using it. My team and I look forward to serving you and hearing from you if you have any questions. We'd also love to hear any ideas you may have that can further improve TradeBench to be the best online trading journal and trade planning tool available.
Founder & CEO, TradeBench
PS. My medium to long-term strategies mentioned above are available to the public through Falcon Invest, website currently in Danish only. They're mutual funds that I have co-founded, listed on the Copenhagen NASDAQ exchange: Falcon C25 Momentum, Falcon Europe Momentum, Falcon Flex Momentum. Most of my own money are invested in the funds on the same terms as external investors. If you would like more information about our strategies and performance, please send me an e-mail and I'll be happy to set up a Skype call.