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

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51–60 of 120 posts

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

#51

Earlier quoted context omitted.

I have checked out Kryll. It's a great project. We are focused on providing the access of automated trading/investing to everyone.

That's a neutral comment that doesn't commit yourself to anything and doesn't answer my question. Your project assumes your users commit time and money to it, so please take a few minutes to do the same. I want to save time, so I use kryll for automation. I'm open minded and ok to check out your project, I just don't have time to try everything out. When something works, and works well, I need good reasons to check a…

1) Way more variety of indicators (150+) 2) You can create much more complex strategies on Mudrex 3) We support futures trading with Bitmex

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

#52
post #44

Are there really people out there who can create profitable automated trading strategies with all that involves, but can’t code? Presumably they can’t test either and arent too hot on maths? Who are these people?!

There are a lot of people who do research using Trading View and optimise algorithms on excel. But they don't know to code and build the whole infrastructure. Thanks for bringing this up.

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

#53

Are you aware there is a massive (market leading, in fact) trading platform called Murex? The name is rather close isn't it? Is it intentional? Edit: I mean, if I started making say, an operating system and called my company one letter different from another company (mickrosoft? rehhat?)-- who are in the same market and have an enormous reputatation -- I'm sort of asking for trouble, aren't i?

Your comment was dead, so I vouched for it. I'm not sure if your point is valid or not, but I'm curious what the founders have to say about this.

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

#54

Earlier quoted context omitted.

That's a neutral comment that doesn't commit yourself to anything and doesn't answer my question. Your project assumes your users commit time and money to it, so please take a few minutes to do the same. I want to save time, so I use kryll for automation. I'm open minded and ok to check out your project, I just don't have time to try everything out. When something works, and works well, I need good reasons to check a…

1) Way more variety of indicators (150+) 2) You can create much more complex strategies on Mudrex 3) We support futures trading with Bitmex

So Mudrex allows for more complexity than kryll.

It's true that kryll is very simple to use. If I reach the limit of their tooling, I'll give your plateform a try.

Thank you.

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

#55
post #4

The modern version of selling shovels I suppose. Interesting idea.

Spot on, it's a great idea though, one I've heard about from several people years ago. I wonder what the fail-safes are, though. With bot and HFT, I wonder how much can be gamed against them if something like this catches on.

I've also heard of programmers linking trades with bots scanning twitter for possible cryptocurrency trend movements. Smart stuff, but too risky for someone like myself.

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

#56
post #42

This is great execution and UX. Congrats for launching! As someone who has done professional algorithmic trading before, I would strongly advise most users to deploy a small amount of capital to these strategies and treat it as a fun game, especially in the beginning. The most important thing in automatic trading strategies is risk management - I am not sure what intelligence does Mudrex provide around that, but even…

You are absolutely right. And for that reason we have worked hard to build risk management tools. You can read more about it here on our blog as well. https://medium.com/mudrex/managing-risk-while-trading-4c1455...

If you have any other suggestions as well please let us know as we will keeping building on it.

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

#57
post #41

Sorry this is a bit off topic, but how do crypto traders manage their taxes? I am under the impression that crypto trading doesn't have any of the niceties that traditional securities trading has when it comes to taxes, e.g. only paying capital gains when you remove money from your trading account (maybe that is also incorrect, I have no experience with investing).

There is another YC company which helps you manage taxes for cryptocurrency trading. www.cointracker.io

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

#58

Earlier quoted context omitted.

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.

I'd invite you to try out the platform then. We aren't offering get-rich-quick schemes. We are just providing the tools to create your own. :)

you are providing the tools to do something no sane person should ever do. I agree you can probably find customers who will do it and will pay you for it, but it's a nonsensical activity like buying lottery tickets.

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

#59
post #53

Are you aware there is a massive (market leading, in fact) trading platform called Murex? The name is rather close isn't it? Is it intentional? Edit: I mean, if I started making say, an operating system and called my company one letter different from another company (mickrosoft? rehhat?)-- who are in the same market and have an enormous reputatation -- I'm sort of asking for trouble, aren't i?

Your comment was dead, so I vouched for it. I'm not sure if your point is valid or not, but I'm curious what the founders have to say about this.

Kind of curious also how this works. If they’re in YC surely someone must have noticed? Murex is in use in all the banks I’ve worked at in the last 5 years, it’s rather well known?

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

#60
I've been creating trading bots for a while now and would have preferred if you targeted your communication at someone like me rather than at people new to the market. It would have seemed more honest. As it stands you don't address any of the potential questions I might have had, such as:

Why the focus on crypto when it's illiquid, unregulated (people lose money from folding brokers regularly), hard to secure etc. vs forex which is highly liquid (very little gapping/get the price you want, when you want), very well regulated with many highly professional international brokers offering APIs you could work with right now. It feels disingenuous to target crypto only, even if initially, like you're cashing in on the (currently subsided) wave. I've talked to 100s of traders too and I don't recognise the problems you've raised.

Why mention 1000s of currency pairs when... there aren't 1000s? In forex there are dozens, in crypto - well OK any amount a broker puts together, but understand that the more rare or minor the pair, the less liquid and harder to trade by algo. And you don't want to algo trade correlated pairs, that's just taking more risk unintentionally. So in practice you don't want to be trading 1000s, that's unrealistic and misleading.

Where's your education section - this really isn't as easy as you make out, and you offering MA Cross as a sample shows how much this is targeted at the beginner level. Which is where people lose money. You need to be the resource for algo trading education. Better than the ones offered elsewhere.

Saying you're democratising something that is pretty much already democratised is not a great start, IMO. Algo trading in forex is not an immature market. Look at the Metatrader website or Forex Forums and you'll find dozens of free bots to get you started with the code and backtesting.

Going forward I'd like to see you educate your users better, talk more about the realities of algo trading and offer more up front.

You've probably built something really cool, but I can't get past these initial red flags. You should show us the non-coding interface and talk up that side. I've used similar in the past and it can be a quick way to build an algo, but you've got to have guidance to make anything profitable - I've been through 1000s of ideas but the markets can offer multiples of those back in edge cases where they fail. You should list your indicators, talk about what risk management and order management features you've come up with, show traders how you've solved many of the tricky problems.

There's huge room for a profitable business in this field, particularly in creating a platform that can displace MT4 with a multi-core, secure backtesting environment using Python or similar. Maybe even incorporating ML in a non-code fashion. But the non-code parts would be the icing on the cake. Most algo devs have to get their hands dirty at some point.

Otherwise I'm just worried you're going to mislead a lot of people.

That's my 2 cents, hope it helps with perspective for you or anyone coming after you in this space.

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