Full Disclosure – I’m an advisor to Signals and I have a vested interest in seeing its success.
Two of the original maxims taught to me when I was first learning how to trade were to make a plan and stick to it and also try to take as much emotion out of my actions as possible. These may seem easy, but they are incredibly hard in practice. You have to be able to trust your own ideas and then not succumb to your own mistrust once you start a trade. Doubt is an inherent part of our human psyche, it’s a evolutionary response which keeps us alive in times of imminent danger. However, it also can sabotage our best ideas and intentions, breeding fear and other negative emotions when bravery is necessary. Every human suffers these very emotions on a day to day basis, in varying degrees. Like a rising tide, even the best traders can succumb to the deleterious effects of doubt.
Our futuristic age gives us the ability to augment or even completely surrender our decision making process to machines and code who never tire, alter course or make “mistakes.” Gut feeling, instinct and belief have all been reduced to risk levels, Sharpe ratios and other mathematical concepts parsed by electronics. Quick as lightning algorithms now control the trillions in wealth around the world, with traditional floor trading a relic of the past.
The future is here for trading, and while day traders may still hand jam their orders for the thrill of it, algorithms are the true kings now. However, these precious lines of code are reserved for the top hedge funds, banks and resource laden groups who can pay the high salaries necessary for development, maintenance and research. But as online brokerages democratized stock trading, now blockchain will do the same for algo trading and is the basis of Signals vision. The team, led by a pair of Pavels, have designed a system to develop, test and transact different algorithmic bots, data sets and indicators. Armed with the tools provided, any trader will be able to quickly and effectively implement different trading strategies for trading crypto.
The core of signals lies in their three marketplaces, data, indicators and strategies. They are each ingredients which must be crafted together with each other to form a whole trading entity. To access each SGN tokens are needed to reward those who contributed or created the information. Users will be given a chance to access the top trading strategies and reward the creators for their work. No technical information will be required, even to make strategies. The team is working to create as little barriers to algo trading as possible.
The team will monetize their efforts by charging a fee on the following:
- Purchases of user-created indicators in the Indicator Marketplace
- Purchases of data streams in the Data Marketplace
- Renting of user-made strategies for copy trading in the Strategies Marketplace
- Using premium machine learning features in order to assemble and train trading strategies.
- Deploying strategies, will use a subscription model.
The team will use these fees to develop the platform and grow the team going forward. Additionally, they plan to use funds to bring on new advisors and other permanent team members.
With a hardcap of 18mil, it’s a low cap project which could have big implications for traders in the future. With such an easy to use interface, it could become the go to resource for traders who want to include trading strats into their portfolios. The ICO starts on March 12 and will continue for a month or until the hard cap is reached. Check it out.