The problem with crypto is you can only open so many tabs to analyze the markets until your computer or browser freezes. How many different websites does one need to understand what is going on on any given morning when it comes to crypto? A dozen?
A clear challenge for traders at present is there is no one place to go to get all the tools one would want to trade efficiently. Each exchange has different tools and features, as does each software with which you can connect them.
Furthermore, there is no product where you can choose your own approach. They come with their own axioms and assumptions about the markets with which you might disagree. In order to express the logic or lack thereof you desire in a trading aid, you would need to build that app from the ground up. That entails acquiring the data, building databases, web servers, which means, of course, you will have needed to study programming and IT.
To the detriment of the industry, there is no standardization across the top ten exchanges. A standardization layer would make the trader much more efficient. Even better would be if the trader could leverage a so-called one stop shop. How might the industry work towards such a user friendly one stop shop?
While from a technical and philosophical perspective, it is good to decentralize things, certain aspects might be best when centralized. The head, nose, and eyes are more or less in the same place as humans and most animals. Perhaps that sort of biological centralization is best. Similarly, the trader needs user interfaces that harmonize dozens of tools in an easy to use manner; that is, all in one place. We need an industry specific platform that allows traders to do everything related to all the business in that industry, which is optimized for this very cause.
It is not enough for users to have a pre-calculated machine learning model that produces an indicator. The best trading platform would empower traders to design their own indicators, taking data from everywhere, not just a single platform. Traders need a data sandbox or playground, not a supermarket. This is how traders take control of their indicators.
If you want to build a trading bot, which most people seem to want to do, you think in a limited way. You try to profit, so you want a strategy as quick as possible which limits you in thinking about the greater picture of the problem.
The platform which most helps the trader might not be focused on trading. It would instead build the best tools which empower people to develop a customized suite of tools for their own strategies. This is no easy feat, for there are many considerations when it comes to useful trading strategies, and they extend beyond candlesticks and social sentiment.
If you’re using a platform to analyze the crypto markets, for example, you want to run such a platform on a server as near to the exchange upon which you trade as possible. If you are quicker than other traders, you can make profits. Alternatively, if you’re using a platform enabling you to trade only five minute candles on an exchange located on the other side of the planet from your server, you are not going to be as profitable as if you were closer and with more sophisticated candle analysis. So, on such a platform robust enough for sophisticated trading, you as the trader need to be able to pick and choose where you are deploying the server.
This system also must deploy dozens of algorithms as the dynamic scaling of the system distributes your workloads as a trader across multiple computers, geolocations, and data centers, which gives you a power over the markets that others simply won’t have, because they don’t enjoy such a robust, sophisticated, and flexible infrastructure.
As a trader, you want to be able to harness the capabilities and power that the modern hosting vendors give you, whether that is AWS, AZURE or others. So, therefore, it’s not only about building your strategy, it’s how you can execute the strategy, and how your infrastructure has been built and deployed. It is not about this or that indicator.
The platform which most empowers traders acts as an orchestra. That’s what we are accomplishing with MachinaTrader. We are bringing all the knowledge into one technical basis. Our social platform allows traders to engage the global community and easily build algorithms accounting for all of the possibilities on the markets.
We have built the infrastructure needed to anticipate market movements. We have built that orchestra needed to understand markets. We don’t believe in single indicators. We believe in symphonies. The symphony of indicators, data, and information is the Holy Grail of trading.
Market prediction is possible. It’s not only possible for minutes, but weeks and months. MachinaTrader makes it possible.
Author: Thierry Gilgen, CEO of MachinaTrader
A seasoned trader and CEO of automated trading platform MachinaTrader, Thierry Gilgen has highly infectious motivational energy in the trading industry. With years of experience in forming startups and understanding the hurt points of enterprises, he provides insights based on his experience. From starting from garage path lifestyle and selling websites from at home during his teenage years, his goal is to provide valuable insight to the finance industry and share his thoughts on how to build successful businesses.