Meet TakeProfit: The Ultimate Platform for Self-Directed Investors

The Story Behind TakeProfit.com and How It Can Benefit Self-Directed Investors

As a hobbyist trader and passionate stockpicker (and sometimes shitcoinpicker), I used to spend hours sifting through multiple platforms, only to get lost in a sea of 20 open tabs. That's when the idea for an all-in-one trading platform hit me. Fast forward two years later, and TakeProfit is finally ready to shake up the industry by saving traders precious time. It's a game-changing, community-driven decision-making tool for traders and investors. With no ads, sponsors, broker promos, or sell-side research - That's our commitment!

After quitting my CMO position at TradingView in 2020, I had some downtime to figure out what was wrong with financial market research. So far, fintech software attempts have failed to exhibit the same level of bold product thinking that we see in other industries.

Even in 2023, Traditional Trading Remains a Source of Frustration, and in my Opinion, it Boils Down to Six Problematic Domains:

There's no limitless and frictionless trading terminal experience

Traders have to juggle multiple tabs when trading, with different accounts for crypto and traditional securities, tabs for research and fundamental stats, and end up using numerous services of terrible quality. Investors have to deal with sell-side analytics (which is marketing material and not research), high-pressure sales tactics, broker promos, and pesky ads even in SaaS products.

There's no thoughtful, independent research

Mainstream media-guided news and sell-side research (which is obviously not research, but just marketing material) dominate the industry. Collaborative experiences and sentiment analysis are absent within brokerage services, forcing traders to switch to Twitter, Discord, and Reddit to share opinions and analytical findings.

There's no trust in the industry

Leading to clashes between retail traders and big money managers. Hedge funds and institutional investors are seen as an inevitable industry evil to outsmart.

There's no such thing as fair and ethical trading

Investors have to deal with sell-side analytics (which are marketing materials and not research), high-pressure sales tactics, broker promos, and pesky ads, even in SaaS products.

There are no alternative datasets

As it stands, retail traders are at a significant disadvantage when it comes to market insights and alternative data sources. This lack of access can be a significant barrier to successful trading and investing, particularly in the current fast-paced market environment.

There's no UX/UI to match the high expectations of digital-native Gen-Z

The outdated UX/UI of trading platforms is foreign to Gen-Z, who grew up with Snapchat and TikTok, and they simply do not understand it intuitively.

A one-stop-shop for their research routine in one tab

As someone who was not a big fan of the legacy trading experience, I started thinking: if the current state of the industry is best described as being stuck in the past, and the future of retail trading is unclear, why not build the trading platform we want? Why hasn't there been a market-challenger trading platform already? I'm not just talking about making minor changes. The entire infrastructure that underpins asset management needs to be rethought from scratch.

Furthermore, we need to change not only how we research and trade, but also how we engage with a community and navigate an integrated environment for thinking in financial markets. This was the very idea behind TakeProfit - think of it as Figma or Miro for traders – a one-stop-shop for their research routine in one tab. That's exactly what TakeProfit is all about - a cloud-based platform that covers all asset classes globally and provides a fully collaborative experience.

Traders deserve a smarter option that responds to market movements without endless hours of research and screen time. They deserve a trading community and support circle to rely on. And last but not least, we all need a creator economy to be an integral part of a trading platform.

The Platform

It took me two years to build a team of people who share my vision and are bullish on the future of self-directed trading. Together, we have created something completely new from the ground up by merging the community and the principles of trading. This includes a web trading platform with a focus on data visualization and a collaborative financial media outlet that enables traders to share their opinions, experiences, and analytical findings. Users could create and monetize their analysis, strategies, and cloud indicators.

Here you go, TakeProfit is a community-driven trading platform without any ads, sponsors, or broker promos. We have stripped away all the tedious aspects and left only creativity, flexibility, and fun.

With TakeProfit, users can use various apps as building blocks, such as charts, code editors to write and add custom cloud indicators with Python dialect (our proprietary language for custom indicators), watchlists, and more. All of these features can be combined infinitely in the user's workspace and shared with fellow traders.

TakeProfit lets traders have a fully collaborative experience due to flexible workspace, where everything is shareable: workspaces, charts, watchlists, analytical findings etc.

As a response to the frustrations experienced by retail traders, TakeProfit was designed with a user-friendly web interface that can be accessed from any device through a browser. Our performance surpasses any other desktop application due to our use of a progressive tech stack, including WebGL and WASM.

We are also committed to providing a diverse range of data and tools that retail traders crave, along with immersive visualizations of financial data and compelling UX/UI. Our beta version already features the best charts with access to over 100 crypto exchanges and the US market, as well as day trader-friendly indicators. The best part is that it's easy for new retail investors to use and comprehensive enough for experienced ones.

The Vision

The ambition is to become the ultimate tool for self-directed traders who rely heavily on their own independent research. That's what we preach: a seamless environment with multiple apps at your fingertips, empowering traders to research and monetize their analytical findings.

Our goal is to consolidate your 33 tabs into one, which means we'll be dropping more features than Drake soon. Here's what you can expect:

• Indicators Marketplace: You'll be able to use not only your own indicators but also those created by other traders and available on the marketplace.
• UGC Media + Monetization for Authors: To enjoy a truly collaborative experience and become a part of a community where everything can be shared and monetized - analytical insights, quality research, quick takes, and trading memes.
• Financial Analysis: To not trade in darkness. You'll be able to X-ray the companies and crunch the numbers with crucial data presented in easy-to-understand charts.
• Screener: To use financial, technical, market, and other search criteria to find instruments that meet your needs.
• AppHub: A cost-effective way for independent developer teams to improve our platform with plugins and addons, without having to spend money on market data and backend.

Finally, We Are Launching Our Private Beta

We've made our way from 0 to 0.5, and the core of our product is ready to ride the global financial waves. Over the last few months, we’ve been working with a hand-picked group of pro traders from our waitlist to get feedback and iterate. And now, we're letting anyone join our closed beta.

Head over to TakeProfit's beta page to sign up. And hit me up on Twitter for free early access.

Please keep in mind that we’re just at the very beginning stages of our journey, and we have a lot of exciting developments on the horizon. See you on the other side. We want the Hacker Noon readers to be part of it, and will grant you free access. See you on the other side.