Results of the Mudrex Trading Contest — Feb 2019
Mudrex is the fastest way for crypto traders to automate their trading strategies without writing code. The Mudrex Platform ran an invite-only trading contest where 25 traders were shortlisted. Traders created strategies and ran them on live markets with real money for 1 week. Read more about that on the Contest page.
The contest ended on 6th March 2019 where 18 strategies tried to outperform each other. The goal of these strategies was to make as high returns relative to the market they were trading on. This metric was chosen so that strategies which were running on markets that had an uptrend did not have an undue advantage vs markets those were in the downtrend.
Crypto markets have been going through a mixed phase over the last month. Some markets such as BNB(+98%) and LTC (+53%) rallied rapidly, others such as TRX (-23%) fell significantly during the month. BTC (+8.3%) itself stayed in a narrow range. This diversity of market condition gave plenty of opportunities for all kinds of strategies. The best strategy would leverage the market conditions it was built for and make returns there.
Ideally, in a strategy, you would want to limit the market risk and perform better than the market. This means that if the market takes a downturn, a good strategy might not make a profit; but it will prevent you from losing as much money as “hodling” would have. We measure this concept by the “Returns over Market” metric, this number reflects how the strategy performed compared to the market it was running on. If BTC is down 40% but your strategy is only down 1%, your returns over the market is a large 39%
Contest Stats
Before we go to the winners, let’s have a look into the contest itself. Traders had 1 week to create their strategies and test them on the Mudrex platform before going live. Tradies tried various different strategies which went through a series of backtests which lead to optimization and improvements.
Stats
- Number of applicants: 58
- Number of participants selected: 25
- Number of strategies entered in the contest: 12
- Number of backtests run on strategy: 237
- Number of live runs: 18
- Amount of trades by all runs: 49
- Unique markets: 11
Performance
- Number of strategies in Profit: 8
- The number of strategies with positive Returns over the market: 11
Winners
We are happy to announce that the winner of the contest is made an incredible 8.46% returns with a brilliant 10.25% Returns over Market in 1 week!
@Aditya_Ahluwalia created ‘RSI Full Power’ and optimized and ran it on ETH/USDT to win the contest. The strategy gives an incredible Annualized return of 631.03% with a Sharpe ratio of 5.68. The strategy made 4 trades and won every single one of them!
As we can see from the graph here, the strategy did brilliantly and capture 2 sudden moves that the market was making. It nearly lost all of its return when the market began to crash but clever risk management kept it in the game.
The second most profitable strategy was run by @sahni619 and followed by @ujesh. Both strategies were performing better when compared to the market. The contest was neck to neck till the last days with strategies hotly contesting for the 2nd and 3rd place.
Aditya_Ahluwalia was awarded the INR 10,000 and he rightfully chose to accept it in Bitcoin. :)
We would want to thank everyone who participated in the contest! This contest was the first step towards winning your faith in Mudrex as a trusted partner in helping you improve your returns while trading. We also want to thank everyone who expressed interest and followed the contest. While the contest is now over, this is only the beginning of Mudrex! Stay tuned for a much bigger and better contests soon!
- Register for Mudrex https://mudrex.com/
- Use some of our sample strategies https://mudrex.com/sample-strategies
- Join our active community of hundreds of traders: https://discord.gg/qdXmm4N
