Mudrex Aug 2020 Update: New Performance score, sorting on invest page, updating bundle info, and more! | Mudrex Blog

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Mudrex

4 min readAug 14, 2020

Aug 2020 was an exciting month! After months of range-bound movement, BTC, ETH, and other Alts finally broke through giving us a much-needed recovery. Almost all bundles on Mudrex invest road the wave, making 20–50% returns for a large number for our user. This has further seen a ton of users join and start building on Mudrex

Mudrex users have been talking about us and inviting their friends to join the trading bot revolution since the day we launched. Referral Program driven by the Mudrex community has been our #1 channel of growth! ~50% of our users have come in because they heard good things about us from their friends. If you haven’t yet, get your referral code from here:

https://mudrex.com/referral-program

TIP: For every user that joins via your code, we give you 50% of whatever we earn!

You can access the referral section from here and read details about the program here.

Key Highlights

We have been working a lot on improving user outreach. Twitter, Youtube, Medium, and TradingView accounts are all up and running. Read more about our outreach initiatives here.
6 New strategies got published on Mudrex Invest. You can check them out here.
Our trading community on discord is now over 1300 members strong! Users have been talking about newer ways to trade, strategies to invest in, and the weather in New Zealand! If you haven’t already, join here: https://discordapp.com/invite/qdXmm4N
We have 1 new member joining the Mudrex Team as an intern! We are now 14 members strong ..:). If you know someone who would be a good fit for us, ask them to apply here: https://angel.co/company/mudrex/jobs

Product Update

Mudrex team was hard at work through the last month hashing out improvements. We spent a lot of time adding more options for traders and publishers and improving the core functionality to build a more robust and user-friendly Mudrex. The platform saw 2 major releases and many minor ones. Below are some of the important features launched recently:

Performance Score to identify good vs bad strategies

Ever since the beginning of Mudrex, we have been plagued with a simple yet profound question that is fundamental to what we are building.

How good is a trading strategy?

We spoke to tons of professional traders, hedge fund managers, investors, and so on, eventually to realize that a globally recognized standard to measure strategy performance is to see what is the returns of a strategy for a given level of risk. A ‘Good’ strategy is one that gives you a ‘higher’ level of return for a ‘lower’ level of risk. Hence we created the ‘Performance Score’, a proprietary metric created by Mudrex, and is a measure of risk vs reward of a strategy.

The Performance Score is a number that varies from 0 to 10. The higher the number, the better the risk vs reward for a strategy. Any number <=4 can be considered as poor, 5–7 can be thought of as average, and >=8 can be thought of as good. You can read more about it here.

New Invest page with enhanced sorting

We launched Mudrex Invest in April 2020 and since then have received a lot of feedback. Some of the important things that users told us was to increase focus on live info, add the ability to sort and filter and simplify decision making. You asked and we delivered!

With the new invest page, we have shifted focus away from backtested data, increased importance of live trading, and added performance score as a simple yet powerful measure of how a strategy has been performing. Do check the new UI out!

Updating details of a published bundle

This update was focused on our strategy creators. They have been wanting to get the ability to update info, fees, etc for published bundles. The new flow helps do that in a very seamless manner. This is an important precursor to bundle upgrade as well, a feature we will be rolling out next week.

9 new indicators

Indicators are at the base of any strategy on Mudrex. Sometimes, users need custom indicators so that they build different kinds of strategies. We keep adding indicators to our list, and last month, have added 9new ones this time. Some of them include:

McGinley Dynamic Indicator
Wilson Relative Price Channel
4 MACD
Elliot Wave Oscillator

Adding an indicator is super easy for us. Send the script of the indicator you want to us support@mudrex.com and we can take it from there.

Up next

Over the next month, our focus is going to be on increasing flexibility for creators. We have a power-packed month up ahead with loads of features being released! Below are some of the exciting things the team is working on over the next month

Bundle Upgrade
Importing third party signals to Mudrex
Path-Based SL/TP
Bundle rebalance
Code Editor
Realtime SL/TP
Limit orders

As always, our product roadmap is driven by our users and we look forward to hearing your feedback! Feel free to reach out to us at support@mudrex.com!