Bringing Robotic Trading to the People
We have a rather atypical crowdfunding project, as far as we know it is the first of its kind. AutoDayTrade.com is attempting to raise funds to make a fully cloud based algorithmic trading robot; we are using a much shorter duration than most crowdfunding projects and trying to raise $50,000.
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. We are trying to change that with our campaign titled, “Bringing Robotic Trading to the People.”
Our project entails moving our current algorithmic trading robot fully into the cloud where we can deliver many of the same advantages big banks and trading houses derive from robotic trading. The money we raise will allow us 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 for our supporters are 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). This is in contrast to hedge funds and big banks which often require more than a million dollars in capital, and are remarkably secretive about the fees required to use their robotic trading platforms.
This project is the first example of using crowdfunding 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
