Back Testing Arrives to Magick’s Cloud Algo Trading System

Adding functionality to their cloud based trading platform, Magick has launched a backtesting module to help customers validate strategies

Cloud based algorithmic trading is an area Finance Magnates has been seeing more products created for over the past two years. The arrival of products to the sector is the natural evolvement of offerings adapting to trader habits following with broker customers moving away from downloadable platforms towards web and mobile based systems. As a result, adding systematic trading functionality in the cloud is the next step towards allowing traders to build strategies when they want, wherever they want.

Magick, launched in July of last year, isone of the early entrants to the cloud based algorithmic trading field. Using the firm’s web based platform, customers without programming knowledge are able to build systematic trading strategies and deploy them to trade automatically on linked MetaTrader 4 accounts. Adding functionality, Magick has now begun to offer backtesting of stored strategies.

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Released as a beta feature, backtesting is available for over two years of historical data, but currently limited to testing for only up to a week at a time. Mikael Breinholst, CEO of Magick explained to Finance Magnates that the firm’s plan is for backtesting to be quick and to use extensive historical data when it is fully released out of beta. In the interim, Breinholst stated that they are using the beta period to gain customer feedback of important characteristics that should be included and not included in the backtesting module.

In regards to initial feedback, Breinholst explained that there are different types of traders who have various expectations when it comes to backtesting. Some users want tick by tick data to run data intensive tests that can provide the closest possible accurate results, while others want the output of quicker results to assist them in strategy creation.

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