Visual Algorithmic Trading Service, Magick, Goes Live Today
Denmark-based Magick, a new provider of visual strategy editing and cloud hosting services for FX and CFD algorithmic traders founded
Denmark-based Magick, a new provider of visual strategy editing and cloud hosting services for algorithmic traders, announced today that the tool has been launched. The new web-based service aims to enable FX traders to create algorithmic trading strategies in a simplified manner thus facilitating the deployment of complex computer assisted trading strategies without any need for programming skills.
Founded by former Saxo Bank employees, Mikael Breinholst and Anton Hughes, the new company closed a seed round investment of $300,000 last month, as reported by Forex Magnates. Leading the seed investment was Hamburg, Germany-based EJ Ventures, who was joined by Danish and international angel investors.
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Mikael Breinholst, CEO of Magick, explained at the announcement the purpose of the new service: “Our goal with Magick is to dramatically reduce the barriers of entry to algorithmic trading. Our software empowers all FX traders to set up and execute complex algorithmic trading strategies through a user-friendly interface, which abolishes the need for software programming once and for all. We are making powerful trading technology, which was previously only available for institutional players, accessible to a much broader audience.”
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Mikael Breinholst also elaborated on the risk management features Magick is offering: “We believe that risk-management should be an integrated part in all trading. Among numerous innovative features, we offer traders a tool to avoid taking on disproportionately large market exposure, regardless of the complexity of their trading strategy.”
Speaking with Forex Magnates last month, the CEO added that on launch, Magick will be available as a monthly subscription to private traders for creation and production of their automated trading. Breinholst also mentioned that Magick is holding discussions with several Forex brokers for distribution partnerships.
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Robots are very efficient, but dumb in the sense that they can only make choices that are programmed into it (that includes neural networks and genetic mutations). System development via programming requires lots of variables to be defined by the designer of the algo. How does one do this with visual algo design? The available options must be fixed, so that there are only so many variations possible. The main problem is that oftem times you may want to implement something Let’s take an example with grid trading, arguably one of the easiest types of speculative strategies to automate. Suppose… Read more »
Hi Jon, Free trials to Magick are available on http://www.magick.nu. With your obvious skills in this field I look forward to hearing your comments and feedback. Regarding your example there are many styles of trading strategies and what you will often find is that what sounds easy to the trader is in fact very difficult to instruct a computer to do for you – without programming. When bringing in the complexity provided by the broker – who inevitably is going to be at the other end, then I do agree with you. Current non-programming algo builders simply can’t adapt to… Read more »
I’ve just seen so many people try to sell this idea that you can tell a computer what to do specifically without programming knowledge when it comes to intricate steps like trading automation. You might be able to get away with it in the instance of using built-in indicators (like moving averages, MACD, zigzag, etc). But any custom indicator is off-limits. sophisticated order management strategies would have to have preloaded templates in the software in advance so that the user only has to drag-drop and adjust settings. That would be a lot of variations, especially with holding multiple positions in… Read more »
Hi Jon, Thanks for your questions. Greatly simplifying the world, we are looking at two extremes: on one side full freedom via programming, where you are only limited by the language itself, and a big “trade” button where all is done for you. We are looking for the optimal point somewhere between those extremes. On a daily basis we build “templates” to enable our clients to control the complex. Not in form of trading strategies, but in form of components they may choose to include in their strategies. In this light I don’t see how a custom indicator by default… Read more »