In recent months I have participated in several conferences and expo, on which I talked about the Algory Project and also trading. My background is in stock markets, where I have been trading very actively for 10 years. I have transferred very similar assumptions to the cryptocurrency market.During my speeches, there were a lot of questions related to the Algory project and the approach to active trading on the cryptocurrency market. I decided to collect some of these questions in one place and answer them. I would like to bring you closer to my approach to trading and the way that the tools built by us will have an influence on better trading and investment results.
Check our Demo Version of Cryptonews and Cryptoscanner: https://demo.algory.io
Why did you move to the cryptocurrency market?
I try to look for markets where I see the so-called “edge” over other traders. The cryptocurrency market has attracted a large number of new traders to the market, who are yet to feel the taste of emotions, as well as the hesitation between euphoria and panic. And such behaviour can be seen on the cryptocurrency market on a regular basis.
The above-average volatility on the market and the volume that appeared on it made me feel like a fish in water on the cryptocurrency market.
My 10 years experience in full-time day trading on the US stock exchanges gave me a head start:)
Where did the idea for Algory come from?
I have been professionally dealing with trading since the end of 2007. Then I started to trade in the proptrading office and the stock market became 100% of my life. It also became my only employer. For the following years I was actively trading on the US stock market. At the beginning of 2017, the cryptocurrency market attracted me. The number of cryptocurrencies listed on the stock exchanges was then still quite small (something at a level of 200–300). However, their number increased significantly in the following months. Of course, the reason for this was the numerous ICOs that appeared on the market.
The number of cryptocurrency exchanges also increased significantly. As a result, all trading was significantly dispersed. Manual analysis of changes in prices, volume and any other situations that occurred on the exchange rate of a given cryptocurrency was no longer possible. It was not possible in real time. Imagine a manual review of e.g. 500 cryptocurrencies on 10 different exchanges.Thanks to Algory, you will be able to filter a wide range of data from stock exchanges, thematic websites and social networking sites in one place, and thus make the right decisions on opening or closing a position on the market.
What are the biggest benefits for future users of the platform?
In investments, and especially during active trading, the two following things count:
2. Access to information
Thanks to our tools you will have two in one :) In one place you will be able to analyze cryptocurrencies recorded on a very large number of cryptocurrency exchanges in real time. You will no longer have to manually review 20 stock exchange websites or check tweets from the people you are following. You will be able to filter them for the information you are looking for. Our system will do it for you in a matter of seconds.
I invite you to our blog: http://medium.com/algory-project, where you will find many articles regarding the possibility of using our tools. We will be posting articles about “how to use?” for each of our tools.
Users can test functions that will be introduced in the final version of our product to a much greater extent. We currently, based on information that can be received from the demo version, publish alerts on our Twitter account.
I would like to point out that the final version will be different in terms of both functionality and graphics. However, in the demo version you can use information coming from either Cryptonews or Cryptoscanner (which at the moment scans the Binance, Bitfinex and Gdax exchanges). We show practical examples of using alerts on a daily basis on twitter: http://twitter.com/algoryproject
Do you have any competition in the cryptocurrency market at the moment?
I closely follow the development of the tools that support trading on the cryptocurrency market. At the moment, there are no such advanced tools as the ones that we plan to launch. This does not mean that there will soon be competition on this new market.
Among cryptotrading tools, the largest part of them focuses on the functions of “copy trading”, which is not among the functions that we have developed.
You planned to collect a larger amount in the ICO. How do you plan to develop on the basis of the collected capital?
Yes, we have collected a much smaller amount than we assumed we would within our White Paper. Due to the complexity of the tool development plan and the number of functions, we were forced to concentrate on selected functions in the first stage. It was connected with the financial resources that we had at our disposal, which we spend on programmers working on the development of tools.
From the planned 13 functions of the project, we focused on the two most key ones, both for the participants of the cryptocurrency market, and also for us as a business company — so on Cryptonews and Cryptoscanner.
The start of Cryptonews is planned for the end of the second quarter of 2018, and soon after it the Cryptoscanner function will also be launched.
The development of further functions of the product depends on the success of our business, however, we are aware of the need for these types of tools and are therefore optimistic :)
Access for ICO participants
Participants of our ICO will receive a special offer for access to the program. Due to the trust they have given us, the offer they receive will be a show of gratitude from the team. Details will be sent to an email when the final version of each tool is launched.
How are you going to commercialize your business?
Access to some of the program’s functions will require the user to purchase a paid subscription. This will be one source of our revenue, but not the only one. We will also offer commercial cooperation for branch companies.
Above all, in addition to the implementation of advanced and useful tools for traders, we will also want to encourage participants to participate in our affiliate program, in which they will be able to invite users and benefit from it. We also plan to reward the most active partners with individual terms of cooperation.
In what form will it be possible to pay for access?
Access to premium functions will be available within subscriptions. The purchase of the subscription will be possible using ALG tokens.
You can get it on: Algory token on IDEX.
Cooperation with traders
We would like to invite all people who are interested in cooperation with us! If you are a trader, investor, influencer, or have a blog or a thematic website about the cryptocurrency market — speak up, and we will definitely establish a good cooperation with mutual benefits!