Launch HN: Mudrex (YC W19) – Automated Trading Without Code
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.<p>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.<p>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.