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Launch HN: Mudrex (YC W19) – Automated Trading Without Code

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Re: Launch HN: Mudrex (YC W19) – Automated Trading Without Code

#22

Post by [deleted] »

nodesocket wrote: post #17
doctorpangloss wrote: post #11

> We dream of reducing the gap around financial opportunities between the wealthiest and the rest. I know it's one of those lines that whoever is in the CEO role says really righteously over and over again whenever an investor pushes back on it. But is trading cryptocurrency really going to do that? Like normal people actually lost their life savings trading that. And it's rich people, like actual Silicon Valley supe…

> transitioning to stocks is any better, because anyone buying today is pretty much guaranteed to be buying at the top of the market--i.e., if you're making a market, you're making one for suckers. I am assuming you are bearish and overall negative given the sentiment of your comment. On Christmas eve when the market was at its lows, would you have guessed we would rally and explode up the first two months of 2019. I…

[deleted]

Re: Launch HN: Mudrex (YC W19) – Automated Trading Without Code

#23

Post by throwawaykyok »

What you have built looks great and I am sure a lot of work went into it. However, as someone with a bit of trading experience (running a profitable custom-built trading system myself) who has friends that lost money I would like to post a few words of warning to anyone who believes they can build profitable trading strategies on top of someone else's platform: It's extremely unlikely. While you may hear stories of people making money, most of them are pure luck (I recommend the book Fooled By Randomness). To make a stable incoming with trading you must have a consistent "edge", a competitive advantage that other traders don't. Possibilities here include 1. data, that could be be cleaner, more fine grained (L2/L3 book data, better reconstructed, etc) 2. infrastructure. This includes highly latency-optimized server placement, custom API integrations, fault tolerance, dealing with api issues, etc 3. "smarter" trading strategies - What many companies are selling you is that you can make quick $$$ by coming up with some secret trading strategy (3). That's how they make money off you. These charting patterns are pseudoscience. 99% of all edge in crypto trading is in #1 and #2 - infrastructure and data, with relatively simple well-known strategy algorithms. By "outsourcing" this to a platform you are giving up your edge and set yourself up to lose money in the long run.

Also, ask yourself why someone would offer a platform to build profitable strategies instead of simply trading themselves based on their competitive advantage. The answer almost always is: Because they failed to trade profitably and pivoted to selling their (unprofitable) infra.

I don't want to put down what you have built. I know firsthand how hard it is to build some of this infrastructure. I would just like to warn people to not easily trust trading infra providers before they lose money.

Re: Launch HN: Mudrex (YC W19) – Automated Trading Without Code

#26

Post by vasilipupkin »

rohitgoyal wrote: post #19
vasilipupkin wrote: post #13

if you ask me, is this a good idea? I will tell you it's a terrible idea. If you ask me, could this startup make money? sure, there are lots of people out there who would pay for this.

Thanks for your feedback. Would love to hear more on why you think it is a terrible idea.

why do people need to run trading bots ? what's the point? you are not going to win against professional trading bots. And you wont do any better than buy and hold investing anyway, after taxes and fees.

A good startup should add real value to the world. Your startup enables a completely pointless activity.

Re: Launch HN: Mudrex (YC W19) – Automated Trading Without Code

#27

Post by sametmax »

Looks a lot like kryll.io. The concept is the same, the UI seems very similar. I understand that it's a YC project, so it does already have a good chance to work just from the networking effect.

But other than that, how do you differenciate from kryll, since frankly, they are already pretty good at what they do (the shared strategies, backtracking and over all the community is very nice) ?

Re: Launch HN: Mudrex (YC W19) – Automated Trading Without Code

#29

Post by rohitgoyal »

doctorpangloss wrote: post #11

> We dream of reducing the gap around financial opportunities between the wealthiest and the rest. I know it's one of those lines that whoever is in the CEO role says really righteously over and over again whenever an investor pushes back on it. But is trading cryptocurrency really going to do that? Like normal people actually lost their life savings trading that. And it's rich people, like actual Silicon Valley supe…

We just started with cryptocurrency trading and plan to add equities and forex soon. What you are saying is right, investing blindly without research make people lose money. Having a disciplined hypothesis driven strategy prevents you from taking irrational trading decisions. Thanks for taking time to provide feedback.
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