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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

#71

Post by lquist »

rohitgoyal wrote: post #33
throwawaykyok wrote: post #23

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 p…

What you are saying is right specially for HFT and also because no platform have been able to achieve that till now. We decided to build this only after talking to 100s of traders personally. We definitely can’t help people develop profitable strategies but if someone has a strategy, she wouldn’t be stuck because of resources/capital limitation. Having said that we are going to keep building the state of the art infr…

I don’t think this really addresses his criticisms of your startup...

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

#72

Post by throwawaykyok »

luxpir wrote: post #69
throwawaykyok wrote: post #48

Earlier quoted context omitted.

Yes, that's a valid use case for this tool. Exchanges typically don't have this functionality. My opinion based on my personal experience is that it is rather unlikely to build profitable algorithms based purely on "technical analysis patterns": (1) Most of these patterns are pseudoscience, you can google for more info, only a few have even a bit of science behind them (2) There isn't enough data to train a model on…

It doesn't sound like you've thought this through. Technical analysis isn't typically based on patterns. Banks trade using TA (see Lehman Bros Forex trading handbook - available online) - it's not strange or unusual to trade a mean reversion strategy at HFT or retail trading levels. Nor a momentum strategy, or even trend following. Nobody serious trades the candlestick patterns you're referring to in algo trading. Th…

> Nobody serious trades the candlestick patterns you're referring to in algo trading.

You are correct. My definition of TA was these candlestick patterns, like the ones ("bullish engulfing") shown on the landing page. Mean reversion, momentum, etc are fundamental concepts that have solid mathematical foundations. I have absolutely nothing against these ;)

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

#74

Post by luxpir »

throwawaykyok wrote: post #72
luxpir wrote: post #69

Earlier quoted context omitted.

It doesn't sound like you've thought this through. Technical analysis isn't typically based on patterns. Banks trade using TA (see Lehman Bros Forex trading handbook - available online) - it's not strange or unusual to trade a mean reversion strategy at HFT or retail trading levels. Nor a momentum strategy, or even trend following. Nobody serious trades the candlestick patterns you're referring to in algo trading. Th…

> Nobody serious trades the candlestick patterns you're referring to in algo trading. You are correct. My definition of TA was these candlestick patterns, like the ones ("bullish engulfing") shown on the landing page. Mean reversion, momentum, etc are fundamental concepts that have solid mathematical foundations. I have absolutely nothing against these ;)

OK, OK, misunderstood your point - apologies. Yeah if they're selling those as potential profitable avenues... red flags are up. That's not selling shovels to miners, that's selling spoons.

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

#75

Post by samfisher83 »

usgroup wrote: 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?!

I don't think its a competition between the wealthiest and the rest. Its really competition between a lot of smart people. Some of them might be really good at math.

If you have phd in math I am sure you can figure out how to use python or c, and that is who you are going up against people who have phds from harvard, stanford, Princeton in math, physics, engineering etc. These are the people writing the quant algos going up against yours.

Most hedge fund managers can't beat index funds.

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

#76

Post by rohitgoyal »

luxpir wrote: post #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. v…

>Why the focus on crypto...

We started with cryptocurrency because of our personal experience in cryptocurrency trading as we had to stay awake sometimes to close our positions, we missed trading opportunities with manual trading. We felt the infrastructure is much more limited for cryptocurrency trading since it is new and majority of the trading is done by individual vs institutions compared to other asset classes. Also the market inefficiencies are greater in cryptocurrency trading and individual traders or small shops have higher chances of building profitable strategies where they don’t have to compete with HTF at the moment.

>Why mention 1000s of currency pairs...

You are right. 90% of the trading happens on just top 20 coins but since our users requested other pairs we added them.

>Where's your education section...

Point well taken. We are already producing content on the education side. https://medium.com/mudrex/tagged/learning We are planning to launch a more formal education section for new traders.

>Saying you're democratising something...

Right now traders are dependent on coding skills and capital to set up infrastructure to automate trading. For example a person with a balance of $1000 can’t get into it.

>You've probably built something really cool...

Your concerns are valid. We are doing webinars, writing blogs and trying our best on this side and will do things as time progress. https://mudrex.com/indicators https://medium.com/mudrex/managing-risk-while-trading-4c1455...

>There's huge room for a profitable business...

This is exactly what we are going to build. We are working on a code editor where people would be able to build their custom logic while keeping the simplicity of the platform same for everything else. On a high level our objective will remain “building tools traders need in their automated trading”.

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

#77

Post by rohitgoyal »

ArtWomb wrote: post #63

Minimal look is quite slick. I would like to to test the cloud developer interface using a demo account to provide feedback ;)

You can signup and run backtest and strategies with virtual money for free. No demo amount is required.

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

#80

Post by rohitgoyal »

luxpir wrote: post #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. v…

Thanks for your time in providing the insightful feedback.
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