Tag Archives: Currensee

What better way to start the summer than coming to work in Boston’s North End for a hot startup? The greenway is a perfect place for lunch and “sight-seeing”, al fresco dining can be had all over the neighborhood, and you can do some really cool work as part of the Currensee team.

Our 30-person company started back in 2008 with a handful of dollars and some good ideas. Fast-forward to today and we’re growing our team of stellar employees. If you don’t know much about who we are, we’re a well-funded, high-energy startup that combines financial services and software development to provide a unique alternative investment service for our clients. Our mission has always been to create trust and transparency in the world of foreign exchange and our $30M in assets under management in just over a year and a half proves it.

Since then, we have steadily grown to a 30+ person company that operates in the heart of Boston’s beautiful North End. The people that currently keep us moving forward, known as the Currensee “Pips,” are truly the ones who make being here everyday an absolute pleasure. This group of innovative and hard working professionals comprised of engineers, sales people, product developers, marketers and many more have all contributed to building Currensee into what it is today.

The best part about our company is our ability to strike a perfect balance between corporate and casual. The professionalism within our spacious building is channeled into running and developing the business, while the general milieu of the environment remains relatively laid back. In one conference room, you’ll find all necessary technology for a fully functioning webinar or international conference call, while in another, you’ll see a couple of plush beanbag chairs available for anyone’s relaxation pleasure. And if you ever do find yourself hungry, (which is highly unlikely given the densely populated scene of Italian cuisine and bevy of food trucks right in our backyard) you will be pleased to find a fully stocked, in-house kitchen.

Though our positions are constantly changing, a few that we are currently looking to fill are: Channel Marketing Manager, PT Web Designer/Developer, VP of Engineering, Web Developer, and Integration Tester. So, if immersing yourself each day in an environment that is both challenging and fulfilling where you are always learning is something that intrigues you, please send your resume to hotjobs@currensee.com. Hope to meet you!

 

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.

It has been quite an exciting day here at Currensee as we’ve been receiving generous coverage on a press release published this morning by the Wall Street Journal’s Market Watch. The premise of the piece highlighted how Currensee’s Trade Leader Investment Program has grown to include over 100 institutional partners who are currently offering the program to their investors and clients.

It is interesting to look back over the timeline beginning at the programs initial inception back in October of 2010, when it was available only to retail investors. It wasn't until roughly a year later that we started providing institutional investors the option of offering the program to their clients, which include asset managers, hedge funds, family offices, introducing brokers, and other financial institutions.

The press release also illustrated how the relatively new realm of online trading platforms are reshaping the way trading happens by allowing investors some degree more control. Javier Paz, senior analyst of Aite Group, explains some components that have contributed to the monumental shifts in forex trading.

"The abundant liquidity of the Forex markets has given rise to a new breed of professional-level traders. This development, along with the popularization of trade-replication technology and prudent copy-trading rules, are the biggest developments in institutional investing since the creation of hedge funds."

The press release definitely brings into perspective just how much this facet of trading is adapting to available technology as a means of improving the way forex investors navigate the world currency markets. Thank you so much to MarketWatch, Elite Group, and the many others who found this information worthy of posting on their blogs and sites - we really appreciate it! Find the full press release here.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.

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I had the opportunity recently to meet with an accounting professor at a UK university.

Wait!

Before you let her primary specialization turn you away, I should say that this particular professor has been doing a fair bit of research into the impact of networks on individual performance. One of her papers looks at securities analysts in particular, but she has also done research into other types of performers, like corporate CEOs. The bottom line is that the quality of one's network is a major explanatory factor in how well an individual performs in their defined role.

Currensee is, at its core, a network of traders. The linkage is clear.

Note, however, that I specifically used the term "quality" and not "size". A massive network isn't necessarily a valuable one. That means you probably aren't doing yourself a whole lot of good "friending" everyone you come across, or who sends you an invitation. This doesn't just apply to trading, by the way. (Are all your Facebook "friends" really of any meaningful value to you beyond the vanity of the number?)

The value of a network comes down to the value of the information which comes to you through that network. Again, note that I did not use the term "quantity" here either. We are all bombarded with vast amounts of information each day. The key to success in trading, as in life, is to get the right information at the right time.

In academia the word "informed" has come to be used to refer to consistently profitable traders or investors. Basically, the idea there is that after you factor out simple luck in terms of explaining performance you have some set of market participants who make money based on their own decision-making. These participants have some kind of informational advantage over the losing traders and investors.

Makes sense, right?

The question, though, is do these "informed" folks have more information? Or do they have better information? In some cases it might be the former. In other cases it might be the latter.

Now for the real twist.

Is that more/better information a function of actual information transmission from one's network and/or information sources? Or is it a function of better information processing abilities by the individual – meaning they create through their analysis new information that is not available to others?

That latter question opens up an ability debate, one which could then be extended to the nature vs. nurture discussion made quite famous by the film Trading Places as well as by Richard Dennis and his Turtles (I actually met a new batch of Turtles recently). But I digress.

The research suggests that ability is less important than one's network. That would imply the key to trading success could be primarily a function of developing a strong network rather than in trying to figure out some holy grail trading system.

So what do you think? Are winning traders better at processing information? Or are they receiving better information from their networks?

 

Aite Group recently mentioned Currensee as one of the Top 10 Trends in Wealth Management. “Copy Trading” is listed as the #7 trend on the report and shows some very positive signs for 2012.

The report refers to copy trading as “...one emerging financial service holding promise because it improves the outlook of all three pillars of wealth management (asset gathering, trading volume and fees), particularly during this period of low yields and uncertain economic conditions.”

Copy Trading CurrencyCopy trading allows investors to follow professional traders by mirroring the professional’s trades in their own personal trading account. This allows investors to gain exposure in other markets where they might not have the time or skill to trade on their own. Copy trading is also beneficial to asset managers because it can funnel millions in AUM through their office.  Managers can offer a single trader or combine a group of traders and create a fund for their clients. In short, managers can offer their clients a viable way to invest in the currency market without being a currency specialist.

In an earlier Forbes article, Aite Group goes on to say how Currensee is the leader in educating investors and managing traders. An important part of copy trading is the proper vetting of currency traders that your clients can follow. The vetting process removes unprofessional traders who don’t have the discipline to trade successfully. By only allowing the top traders to be selected, the follower or asset manager only needs to choose few different traders to create a diversified currency investment. Following a group (or fund) of seasoned forex traders can be a nice addition to the standard equity/debt portfolio.

 

Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.

I came across a post on Baby Pips recently that I think does a great job of showing how sometimes a little more education and a different perspective on things can go a long way in our development as market participants. The poster in question had been trading for some time, but just finished going through a financial advisory training course. Now many financial advisors are little more than sales people. In this particular case, however, the particular course in question seems to have made this trader see the light in regards to his own trading. Here's some of what he shared.

Through my training and education, I’ve learned quite a bit a lot on risk management. Knowing what I know now, would have put me at an incredible advantage in this forex marketplace. I was far too aggressive in trading, as are many of you, and despite any warning from anyone you will continue to be so.

He's hit here on the reason so many new traders – and even quite a few no-so-new ones – crash and burn. Time and time again you hear from those who survive in the business that it was their discovery of proper risk control that finally put them on the right path. I talked about it recently in terms of leverage. No doubt I'll talk about it many, many more times in the future because the poster is right. It very often takes getting severely burned by risk to finally appreciate it.

My trading should have far more balanced. Taking conservative long term approaches with a large portion of my investment, while using a small portion of my investment to take a couple cracks at a home run.

This speaks a bit more toward one's overall investment approach than directly to trading, but it's an important point nonetheless. Remember that you need to Compare Your Trading to Your Alternatives.

I was afraid to take loses. I hated them a lot. Now I understand that it’s purely a numbers game. And if one can eliminate the emotions from the numbers, they would realize that a losing trade is one step closer to a winning trade, provided that they actually have an edge in the market place.

This is a really big one. The fear of losing money underlies a lot of foolishness in trading, like so-called "hedging" when a trade goes against us. The reality of the situation is that you can do very well with a relatively low win rate. And on the flip side, a high win rate does not guarantee results. For example, I saw figures on a group of retail traders indicating that 60% of their trades were profitable, but they were net losers. In other words, winning ain't all it's cracked up to be.

Scalping is stupid. It’s far too costly in relation to the amount of spread paid vs. the amount invested into the market.

Scalping is one of those approaches to trading which begs the question of return on invested effort. Is it worth the time? Also, is it mainly about the action? I've never been a scalper, though, so I'll leave it to others to answer those questions.

Most systems are profitable. However, they are over traded and dominated by fear and greed. Most traders will take a swing at anything that looks good. However, patience is far more important in this industry. Waiting for a high probable pattern is far better than taking a swing at 5 marginal patterns.

Can't argue with this. New traders tend to latch on to anything shiny and new that looks like it might be the holy grail, then dump it as soon as they realize it won't fulfill their dreams of limitless wealth.

You won’t get rich quick. For every story you hear of a guy that turned millions fast, it was either because he was extremely lucky, or that he was a liar. Your 100 bucks won’t make you 20,000 in a year. Sorry. But keep trying if you like. People can only win the Powerball lottery by buying a ticket. Just know that it’s luck you’re hoping for, and not skill and knowledge to dominate the market.

No comment required.

Overall, I was initially a losing trader that eventually learned to turn profits, however, I believe that perhaps those profits may have been short lived based on the fact that I still allowed my emotions to manipulate my trading and I was thinking short term and not long term. And I traded way too many pairs. Master one. Move on and then master another. I had no patience for any of that. I would rather take an entire year to master one pair before moving on to the next.

The short-term view is so prevalent in trading. Too few take a long-term view of their trading. If they did they probably wouldn't be nearly so stressed out and deadest on making millions this week, and by extension wouldn't be taking way too much risk and nearly ensuring their failure.

I’m humored by the fact that I once considered myself an extremely conservative trader, when I know see myself as wild and aggressive.

That might be a bit of hyperbole, but it makes the point. The idea of risk management is harped on over and over and over. Perhaps that's the problem. Maybe new traders hear it too often and become numb to it. Or maybe it's a lack of specificity or impact. Either way, it's up to those of us who seek to be educators to find away to make clear the importance of risky trading.

This past Saturday March 5th - CEO, Dave Lemont was featured on Unlock Your Wealth Radio. Below is a short blurb about the radio show as well as a link to listen. Enjoy!

Listen here --> Scroll down to the On Demand Episode March 5, 2011 episode

Investing expert Dave Lemont joins us in the first hour. Dave Lemont is Currensee's CEO. Prior to Currensee, Dave was the CEO of AppIQ, the leader in storage management software, which was acquired by HP. Investors were happy with a 6x return, $30M run rate and over 300 enterprise customers in just two years. Stuart Vener drops by in the second hour. Stuart Vener, President of the Wilshire Holding Group, Inc. has a varied and extensive career in business and real estate related activities. Vener is one of America's most knowledgeable real estate investors/consultants. He provides expert information as a guest on radio shows throughout the country, and regularly appears as a mortgage and real estate expert on Fox News. Join us each week where we talk about crisis management and financial wellness tools designed to help you manage your finances and attitudes for achieving financial wellness today and financial Independence for the future. With our Investor's Edge, Millionaire Minute, Keys To Riches, Minutes on your Money segments with special guests, celebrities and the financial gurus of our times, finally...financial freedom can be yours at http://www.unlockyourwealth.com

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.

This week we are thrilled to put the employee spotlight on David Karp. Many of you may already know David from our webinar series, which he graciously hosts at 7am EST. He is part analytics extraordinaire, part social media maven, and fan of all things orange. His blog limeduck.com has a post for every occasion, and can answer 99.2% of life's greater questions.

Official title: Director of Marketing

Unofficial title: "umm, are you the one I should talk to about..."

From: New York City.  Got a problem with that?  Good. I didn't think so.

Journey to Currensee: Art School, Business School, IBM, Startups, go figure.

Favorite thing about the office: Free fig newtons

Favorite project here at Currensee: The Orange Couch

I would never trade my Orange Couch.

When not rockin’ it at Currensee, you’ll find me At a secure undisclosed location (unless you're on Foursquare) making, writing about, photographing or maybe even eating food.

Favorite expression: What could possibly go wrong?

Celebrity doppleganger: Gonzo. What do you mean he's not a celebrity?

Stay tuned for next week’s employee spotlight.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.

Here at Currensee we are a tight-knit group of engineers, designers, and marketers. The start-up atmosphere means we work hard and long, and get to know our team pretty closely. Each week our employee spotlight will profile one of our amazing team members. This week we'd like to introduce Brien Wheeler.

Official title: Vice President of Engineering

Unofficial title: Chief Cat Herder

From: Newton, MA

Journey to Currensee: Bachelor's and Master's degrees in Computer Science in 1990/1991.  Bit by the startup bug in 1995 while at Raptor Systems.  Have built and/or led engineering teams at seven startups including Currensee.

Favorite thing about the office: Learning about people's diverse interests at biweekly after work bull sessionsBrien Wheeler

Favorite project here at Currensee: Full-stack integration testing

I would never trade my Wusthof knives.

When not rockin' it at Currensee, you'll find me doing the foodie thing -- checking out good restaurants and bars, cooking for dinner parties.

Favorite expression: Sometimes even a blind squirrel finds a nut or two.

Celebrity doppleganger: The Currensee superhero (pssst this was Brien's Halloween costume!)

Stay tuned for next week's employee spotlight.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.

This is the last week of my summer internship at Currensee, so I thought I'd write down some reflections on the experience.  I have to admit I had no idea what to expect when coming here way back on June 1st.  I was hoping for a great first experience into the start-up world, more particularly into the world of internet software start-ups.  What I got was just that: a fun, fulfilling, and interesting experience at this growing start-up.

I was a Product Management Intern for the summer, working for Shereen, the director of Product Management.  In most companies, product management means owning all aspects of the product, tracking and prioritizing features and bugs, and generally working with engineering, marketing, and management to set a vision and direction for the product.  At Currensee, all that is true.  But because we are a start-up operating with a relatively small staff, there was so much more to do!  Added in was helping to qualify and solidify business relationships for a major upcoming product launch, recruiting partners for our product marketplace (where we sell 3rd party products), doing random tasks at a frantic pace when the CEO or founder needed something, a whole lot of statistical data analysis, and just being ready to take on anything if it came up.  Phew!  And all that in just 10 weeks!

My main summer project was performing a detailed analysis of trader behavior.  I really got to "geek out" on this one.  Nothing but Excel pivot tables, correlation, regression, and just plain fun statistical analysis.  We ended up with a ton of great information to help Forex traders become more profitable, and to help us at Currensee better understand our customers. And we even will be publishing the results in a white paper and releasing the information in forthcoming blog posts, so stay tuned.

On a personal note, it was great getting to know everyone here.  Everyone gets along well, yet each person is totally unique in their own way.  It is amazing how many personalities coexist within this little 20 person start-up.  And, with six other interns this summer, it got pretty crowded in here!  In the large cubicle area where I sat, there were up to 10 of us at any one time, sitting around any open desk space we could find.  But we always were laughing and enjoying our time together.

I really am grateful for the experience here, and I have high hopes for what Currensee will become.  The start-up world is challenging, fast-paced, and rewarding.  It was a lot of fun, and also great to see my work appreciated.

Last but not least, the free snacks in the kitchen and frequent cupcake pickups from Lulu's will be greatly missed!

Goodbye for now,

Luke

(p.s. I know it's a picture of Lindsay on the bio. If you want to see me click here)

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.

1 Comment

Last week we featured two of our fantastic interns. This week we have two more bright-eyed bushy-tailed interns for you to get to know. Let me introduce you to Ariel and Luke.

First up is Ariel. No she doesn't sing ballads from the Little Mermaid everyday in the office (though we wish she did), she is a 4th year undergraduate student at Northeastern. She studies Psychology and is passionate about working with adolescents who have behavioral issues. At Currensee, Ariel has been helping the Customer Support team analyze customer feedback received over the past months. She has then been coming up with a comprehensive rundown of the most requested future features in the Currensee platform. Ariel's favorite thing about Currensee is the people! As an undergrad she enjoys seeing how the "office world" works. Being a psych major she most likely will never work in a true office setting since the hopes to open her own private practice.  Ariel loves photography, watching House Hunters, and snowboarding. We will miss her when she goes back to school, but thankfully her Dad is our CEO so we know we'll be seeing lots of her!

Second intern of the hour is Luke. Luke is a regular-old smarty pants (even his soon-to-be father-in-law thinks so). Luke is about to begin his second year in the MBA program at MIT. Luke descends from Minnesota but has spent most of his time living in San Francisco. When asked how he likes Boston he says "it's a rad place!" At Currensee Luke is our product management intern. His biggest project has been extensive data analysis on member behavior, leading Luke to deem himself "master of Excel Pivot tables." In addition to this, Luke has been learning a lot about the Agile development process and helping with the forthcoming launch of a new Currensee program. Luke is extremely interested in internet startups and hopes to one day be a part of the founding team of a successful one. One thing you may not know about Luke is that he is a fantastic artist. His work is truly outstanding and frame-worthy. On a lighter note his favorite show is Keeping up with the Kardashians. We are going to miss you Luke!

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results.

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Be sure to read the full risk disclosure before trading Forex. Please note that Forex trading involves significant risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved before trading. Performance, strategies and charts shown are not necessarily predictive of any particular result. And, as always, past performance is no indication of future results. Investor returns may vary from Trade Leader returns based on slippage, fees, broker spreads, volatility or other market conditions.