NexusTrade’s December 2023 crypto paper-trading launch

This announcement records the December 2023 crypto launch and the features then planned for 2024.

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Cryptocurrency trading is notoriously challenging, both for individual retail investors using platforms like Robinhood and for prominent hedge funds such as Three Arrows Capital. A major obstacle in successful cryptocurrency trading is the general lack of a systematic approach. Often, retail traders make decisions based on influences from social media, FOMO (Fear Of Missing Out), or a variety of less-than-ideal reasons.

However, the rise of Large Language Models (LLMs) has opened up new possibilities for retail investors in tackling the complexities of cryptocurrency trading. With these models, investors can move away from making spontaneous buy or sell decisions. Instead, they can develop a set of predefined rules that dictate when to enter and exit trades.

The strength of this method lies in its systematic nature. It allows for the rules to be adjusted in response to changing market conditions, and for continuous improvement of these rules to maximize returns.

This article announces the first crypto features and distinguishes the December 2023 paper-trading capability from the later automated-rule roadmap. It does not demonstrate a completed strategy or answer how much Bitcoin a person needs.

Becoming a crypto trading strategist

Just like how you wouldn’t take the SAT on a whim, you shouldn’t start crypto trading until you perform some research. That means sitting down in front of a computer or phone, developing a hypothesis, testing it, and improving it. While this may sound daunting, its really not and I will show you why.

In December 2023, NexusTrade supported manual crypto buys and sells in paper portfolios. Automated crypto rules, backtesting, optimization and deployment were part of the roadmap described below.

NexusTrade’s user-friendly interface makes it accessible for beginners in algorithmic trading. Notably, its AI-Powered chat feature enables even those without technical expertise to develop and refine their initial trading strategies.

Engaging with Aurora, the AI Trading Assistant

In this December 2023 announcement, NexusTrade added cryptocurrencies to manual paper portfolios. The automated-rule support described later was on the January 2024 roadmap. The screenshots here show that dated launch, not a completed crypto-rule deployment.

Currently, the platform currently supports popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), Shiba Inu (SHIB), and Chainlink (LINK). This selection marks a significant step in integrating crypto into the platform. The system is also designed to seamlessly add new cryptocurrencies as needed.

Cryptocurrency trading interface on NexusTrade.

Right now, NexusTrade allows users to explore, buy, and sell cryptocurrencies within their paper-trading portfolios. And, starting in January 2024, users can begin crafting automated trading strategies involving cryptocurrencies.

With this comes all of the functionality you expect from a NexusTrade portfolio. Soon, users will have the capability to backtest, optimize, and deploy their crypto-trading strategies, opening a new realm of opportunities. This is just the first step, with plans to integrate other asset classes like options and futures.

Conclusion

The cryptocurrency market, rapidly expanding, has marked its presence as one of the most dynamically growing sectors in global finance. As of November 2023, the cryptocurrency ownership has soared to an impressive 575 million people globally, with a consistent monthly growth rate of about 2.8%. This trend underscores the enduring nature and increasing relevance of cryptocurrency in the modern financial landscape.

The December 2023 integration made the listed cryptocurrencies available for manual paper trading. Automated rules were planned for January 2024, with backtesting, optimization and deployment described as later capabilities. Those plans were not completed demonstrations in this announcement.

Thank you for reading! If this article was helpful, share it with a friend interested in Cryptocurrency, Artificial Intelligence, or Algorithmic Trading!

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