A crypto social trading platform that force people to practice stoploss

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A crypto social trading platform that force people to practice stoploss

Hi HN, I was watching an interview of Caroline Ellison (CEO of Alameda Research) the other day and found it interesting that she never uses stoploss (no wonder shit happened). One of the most important skills for traders is know how to set up stoploss and stick to it when stoploss is about to hit. I see that most crypto traders don't follow this principle. On the other hand, there is a segment in fintech called prop-trade challenge. This is a proven business model in forex & stock trading with multiple platforms having 100k+ active users (such as Topstep or FTMO). These platforms evaluate day traders’ performance in real-time simulated accounts, in which those who pass the evaluation/challenge earn a funded trading account (while still being monitored against its max drawdown rule). I realized that prop-trade challenge can be integrated with copy-trade functions and create a better version of crypto social trading platform than the current Etoro model. That's why I built Tordess (a “misspelling” of tortoise). We launched our MVP (open-beta) on October 15th, acquired 700+ beta users/testers as of today and secured affiliate partnership with 2 major Vietnamese crypto trading & prop-trade (Facebook) groups that have more than 200 thousand members. Since launch, several top traders on our platform have produced 100%+ return on simulated accounts, without breaking our rule of maximum 10% drawdown. While it is amazing how talented retail traders are able to achieve such results in crypto bear market, it also shows the potential of fixing social trading (copy-trade) model by combining prop-trade challenges. If you find this interesting, please give Tordess a try. Our competition mode is always for free. Let me know if you have any feedback or questions!