BELLEVUE, WA, June 21, 2013 (Press-News.org) Robotic trading is an ever larger portion of all trades: 50 - 70% according to the New York Times. However, prevalent as robotic trading has become it is still primarily the domain of big banks and trading houses. AutoDayTrade.com is trying to change that; they are using crowd-funding through Indiegogo.com to raise funds for their campaign titled, "Bringing Robotic Trading to the People."
Indiegogo is a crowd-funding solution where projects are posted for the public to examine and fund in return for rewards. Each project has a duration in which to raise funds, a target funding goal, and stated rewards for each level of support.
AutoDayTrade.com's project entails moving their algorithmic trading robot fully into the cloud where they can deliver many of the same advantages big banks and trading houses derive from robotic trading. Their campaign is a fourteen-day long effort to raise $50,000. This money will allow them to make the final transition from a robot that runs on individuals' personal computers, where it is subject to the vagaries of internet speed and imperfect hardware, to the cloud.
In this case, the cloud refers to a top-of-the-line VPS on the floor of the Chicago Mercantile Exchange where the robot will have access to a lightning-fast data feed and a perfectly optimized hardware set up.
As rewards to their supporters the campaign is offering robot subscriptions at one-third of the expected retail price. A contribution of only $150 nets the supporter three free months on a level one account (an account which trades a single contract at a time) that requires only $5,000 in capital. This is in contrast to hedge funds or big banks which often require more than a million dollars and are remarkably secretive about the fees required to use their robotic trading platforms.
This project is the first example of using crowd-funding to sponsor robotic trading. This may signal a shift from the current elitist model to a model for the people, as AutoDayTrade.com puts it in their title: "Bringing Robotic Trading to the People."
For more information visit the campaign at http://www.indiegogo.com/projects/bringing-robotic-trading-to-the-people. To schedule an interview contact Mark Fowler, Director of Development, at TechSupport1@AutoDayTrade.com
Bringing Robotic Trading to the People
AutoDayTrade.com is using crowd-funding to create a fully cloud based algorithmic trading robot. This is the first time crowd-funding has been used to support robotic trading.
2013-06-21
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[Press-News.org] Bringing Robotic Trading to the PeopleAutoDayTrade.com is using crowd-funding to create a fully cloud based algorithmic trading robot. This is the first time crowd-funding has been used to support robotic trading.