How we improved Trading Pursuits with product gamification
Learn how to trade FOREX (currencies) is notoriously boring and often very expensive. Therefore, most first time traders open a trading account without sufficient knowledge about how to trade successfully. They often start to trade with insufficient knowledge of risk management and trading strategies. The result is that up to 90% of traders lose all their invested money in a short amount of time. FOREX brokers do not like this as they make a margin on every trade that is done: once novice traders blow up their account they seldom come back. Trading Pursuits approached The Octalysis Group to help them address this dilemma. We designed a fully immersive and integrated learning journey, Trade Samurai, where users learn how to trade FOREX in an engaging and low risk way.
The Octalysis Group designed a gamified learning journey through 5 books of knowledge: Book of Earth, Book of Water, Book of Fire, Book of Air and Book of Enlightenment. An immersive onboarding instills Core Drive 1: Epic Meaning and Calling as you are recruited to battle the Forces of Fear and Greed, who are trying to corrupt the world’s markets.
Users make constant progress through levels of knowledge to pass the various books (Core Drive 2: Development and Accomplishment). We have created a host of interactive educational games where users have to make meaningful choices (Core Drive 3: Empowerment of Creativity and Feedback) to test their knowledge of the education learned.
The meaningful choices take place in a safe environment where skills and challenges are constantly being matched. Thus we create a flow-state for the user, where s/he always feels in control and able to complete the exercises.
Only after the user has completed 2 Books of knowledge will s/he be able to trade with real money in the Book of Fire. Users can unlock trading with higher risk profiles and leverage by leveling up through the remainder of the educational content. In the app there are Trade Samurai Clans that you can join and with whom you can trade against other clans (Core Drive 5: Social Influence and Relatedness).
There are also Trade Dragons, Ninjas and other creatures that will help you with secret advice and useful hints to trade better and safer. Trade Samurai users loved learning to trade FOREX through the app. Abstract, boring concepts became fun to interact with and many users reported high engagement with the learning material.