Mudrex Algo Trading Platform Review
Mudrex, originally a crypto exchange supported by US seed accelerator Y-Combinator – has now introduced a way for crypto traders to automate their trade strategies without needing to know how to program bots to do it.
According to Mudrex co-founder Edul Patel, a few of the most notable challenges for crypto traders are the sheer multitude of exchange platforms to choose from, trading manually in a market that does not sleep, and knowing how to set up the infrastructure to trade. Furthermore, crypto platforms are built by programmers using algorithms to execute transactions, therefore looking for a way to automate these processes seemed a natural move.
Patel, along with his four fellow co-founders, thus came up with an idea for traders without coding abilities to still be able to automate their trades. Once a trader decides on the levels to buy or sell at, the Mudrex crypto bot will handle the rest.
“They basically hand over the API (application programming interface) keys to us which allows us to trade on their account on their behalf, according to their rules,” Patel further explained.
Mudrex has already partnered two major exchanges – Bitmex and Binance – and plans to add more. The initial outcome has been encouraging, with approximately 400 active traders and $500,000 worth of trades completed in its beta testing phase from mostly India, Southeast Asia, and the US.
The company’s long-term plan is to become an investment marketplace and extend its service offerings to more than just crypto.
Mudrex Overview
Mudrex is a cryptocurrency trading bot. For the uninitiated, an algorithm trading bot is a piece of software that uses artificial intelligence to execute trades. As a trader, you instruct the bot to buy or sell cryptocurrencies when the market moves in a certain direction. The bots work 24/7, enabling them to execute more trades than a human could ever do.
Mudrex sets itself apart from competitors with its zero-coding knowledge required and the ability to create and back-test strategies from scratch. To get started, users create an account using an email address. That’s it. With an account, you create a trading strategy or use one from the samples provided on their site.
Mudrex, originally a crypto exchange supported by US seed accelerator Y-Combinator – has now introduced a way for crypto traders to automate their trade strategies without needing to know how to program bots to do it.
According to Mudrex co-founder Edul Patel, a few of the most notable challenges for crypto traders are the sheer multitude of exchange platforms to choose from, trading manually in a market that does not sleep, and knowing how to set up the infrastructure to trade. Furthermore, crypto platforms are built by programmers using algorithms to execute transactions, therefore looking for a way to automate these processes seemed a natural move.
Patel, along with his four fellow co-founders, thus came up with an idea for traders without coding abilities to still be able to automate their trades. Once a trader decides on the levels to buy or sell at, the Mudrex crypto bot will handle the rest.
“They basically hand over the API (application programming interface) keys to us which allows us to trade on their account on their behalf, according to their rules,” Patel further explained.
Mudrex has already partnered two major exchanges – Bitmex and Binance – and plans to add more. The initial outcome has been encouraging, with approximately 400 active traders and $500,000 worth of trades completed in its beta testing phase from mostly India, Southeast Asia, and the US.
The company’s long-term plan is to become an investment marketplace and extend its service offerings to more than just crypto.
Mudrex Key Features
👉Zero-Coding Knowledge required— Mudrex strives to become the most user-friendly trading bot there is. As such, they’ve done all the hard work to ensure beginner traders with zero coding knowledge can use their bot successfully and make profits. Any mechanical issues that occur to the bot are handled by the company, allowing traders to concentrate on what they care the most about, trading.
👉Create a Strategy with Drag and Drop tools—Mudrex gives traders the option to come up with a trading strategy they could monitor, test and improve on it using a drag and drop mechanism. That’s the beauty of the bot. You don’t have to use the same trading strategies you used elsewhere and found them unsatisfactory. Simply configure the platform to execute trades based on your rules.
👉Backtesting Engine–Many algo trading bots have one weakness. They only give you the option to use pre-selected trading strategies. You can’t create and backtest your strategies effectively. Mudrex has one of the best and fastest engines for backtesting. If something doesn’t work within your strategy, easily remove what you don’t like and add what you love. Use your strategy again and improve on it until it starts to execute trades smoothly. Mudrex stores your data securely and its drag and drop tools ensure backtesting takes a matter of minutes.
👉Select a Popular Strategy—there are seven major trading strategies on Mudrex. Each one of them has been tried and tested in crypto trading before. Simply read the overview for each strategy and open trades with your preferred pick.
The first strategy is Ichimoku, a famous trading method invented by a Japanese journalist and trader. It’s based on a cloud of signals and you execute trades when prices cross certain marks.
Another strategy is Simple MA Crossover which uses uptrends and downtrends to help you make trades. The remaining popular strategies are Bollinger, the stable coin Oscillator, Directional Movement indicator, the Aaron Oscillator strategy, and the Bear Hangingman strategy.
👉Discord Forum—to discuss strategies, learn about trading rules or ask for support, Mudrex recommends you to join their Discord forum. It’s easy to create an account and start contributing to discussions. A simple panel on the side helps you sort discussions easily. You can send messages to individuals, make a friend list or create a library of things you love.
Exchanges Compatible—Mudrex is compatible with several trading exchanges, including Binance and Bitmex.
👉Customer Support—if you can’t seem to get your questions answered on the Mudrex forum, visit the help page. You will find a library of articles and guides related to using the Mudrex trading bot and detailed explanations for their trading strategies. If that’s not enough, contact support on the live chatbot.
New and easy to create algorithms are great for crypto traders that don’t have all day to follow the markets and need something more advanced than stop loss and stop profit orders. Prices follow a subscription-based model, with the lowest being free. There are fears that crypto exchanges could start setting up accounts with Mudrex to start wash trading on the sly, but hopefully the robust KYC procedure will prevent this from happening.
Useful Links
Website : https://mudrex.com/
Facebook : https://www.facebook.com/mudrex/
Twitter : https://twitter.com/officialmudrex
Telegram : https://t.me/officialmudrex
Discord : https://discord.gg/qdXmm4N
Medium : https://medium.com/mudrex
Instagram : https://www.instagram.com/officialmudrex
Bounty Thread : https://bitcointalk.org/index.php?topic=5256803
Author:
Bitcointalk username: Baoanhbmt
Bitcointalk profile URL: https://bitcointalk.org/index.php?action=profile;u=2633729
UserName Mudrex : resus.nguyen