rohitgoyal

Hey HN!

At Mudrex we are launching our new product: Mudrex Invest. It will help everyday investors smartly invest in cryptocurrency in automated way.

Waitlist link for priority access: https://invest.mudrex.com/

Back in Feb we launched Mudrex for traders who wanted to automate their trading rules. It got huge interest from traders community. https://news.ycombinator.com/item?id=19347443

After that we launched a marketplace in June'19, which let mature investors invest using trading algorithms created by pro traders. This helped many others get the benefit of these algorithms and also helped these pro traders become financial entrepreneurs. There are already 100s of people using Mudrex Marketplace for their investment. Link to Mudrex marketplace: (https://mudrex.com/marketplace)

Now we are launching an evolved version of that marketplace which would help everyday investors invest using algorithms created by successful traders.

How it works for an investor? 1) Choose your risk appetite and choose a portfolio among 2-3 recommended options based on their past performance. 2) Connect your exchange API keys (Coinbase/Binance etc) and decide how much capital you want to invest using Mudrex.

How it works on the back? 1) Sophisticated traders build trading algorithms using Mudrex Strategy Builder. 2) They submit their trading algorithms to Mudrex to publish them on Mudrex Marketplace. 3) These algorithms go through a rigorous review process and the quality ones get listed on the marketplace. 4) Mudrex clubs top algorithms in a bundle to diversify risk and manage stable returns. 5) Your capital automatically follows these portfolios on your exchange account.

Join our waitlist if you want to get priority access. https://invest.mudrex.com/

Thanks for your support. :)

Not at the moment. But it is on the roadmap. One of the most demanding feature. :)

In our close beta 65% of the traders made profit. Usually people stop loss making strategies within a week or two.

Yes. You can define different tick intervals for different blocks. For example in one block you can select RSI with tick interval being 30 min and in another one you can select RSI with tick interval 2H. Ping on help button at the bottom if you get stuck. :)

That's a screenshot you are referring to. It just shows how to connect different blocks. Like see the first gif that shows the kind of blocks we have with an example of indicator block (RSI/MACD etc). In no way there is a sign that it will make you profit. In fact it encourage you to test your strategies on past data and live data. Will try to make it clearer.

We are currently focused on strategies that typically have exposure from few minutes - few days. These don't come under the HFT set up.

Hence our target customer are people who use Technical analysis and price action.

Thanks for you time and providing the feedback.

Thanks for your time in providing the insightful feedback.

We are going to add only reputable exchanges.

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

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”.

Didn't know about this. Thanks for pointing it out. Mudrex has nothing to do with it. Mudrex came from the Sanskrit word call "Mudra" which means currency. I hope this answers your concern.

The platform is for traders who knows what they are doing. We have professional traders building their trading strategies on the platform. We are working on marketplace where non-professionals would be able to invest in professional trader's strategies for profit share.

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

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.

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.

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

At Mudrex users create their own trading strategies without writing code and connect their exchange keys to trade live.

We have some sample strategies on the platform. We are working on building education material as well. You can also checkout out blog. https://medium.com/mudrex/tagged/learning

I have checked out Kryll. It's a great project.

We are focused on providing the access of automated trading/investing to everyone.

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 infrastructure to support more efficient trading as well. Thanks for taking so much time to provide feedback.

Not on the roadmap as of now.

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.

We are working on adding more exchanges. It takes 2-3 weeks to test everything to make sure everything runs smoothly once live.

Mean: 2.1% Median: 1.7%

Average run time of strategy is 2 weeks in beta.

Thanks. Looking forward to have you on the platform.

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

All the IP of the strategies remains with the user who built the strategy. We don’t extract any data from those strategies.

We do have a marketplace where traders can publish their strategies publicly for other investors to test and invest in those strategies.

Thanks for checking us out.

What we are trying to build is asset independent. We started with cryptocurrencies because it was easiest to integrate with. I understand your mistrust in cryptocurrency related projects. We don’t hold user’s tokens in our wallet. We are figuring out the best ways to add equities and forex as well.

Right now we are providing all the data feeds ourselves. If there is more demand from the users for manual entry of data, we might support it later.

Thanks a lot for your detailed feedback.

Thanks for the support. Looking forward to hear your feedback.