Quantopian, a start-up from Boston, wants to help ambitious traders disprove what many people have accepted for quite a while now – that while an individuals may get lucky from time to time, they cannot beat the market over a long period of time.
The company provides a service that allows individual traders to write their own trading algorithms and use them however they like. In this way, more individual traders could get involved in algorithmic trading without the help of a larger entity.
Founder John Fawcett discussed the project, saying “I wanted to create a platform for people to develop trading strategy. Professional quants are secretive about their work. I really wanted to make it more accessible. I build software that would let investors analyze all the different kinds of data out there to analyze companies and industries. I thought everybody should be using this approach.”
At the moment, Quantopian offers back-testing for free, however this is costly for the company. While this is currently part of the service Fawcett wants to continue offering for free, the company may eventually find it needs the revenue. Moral of the story being: take advantage of using it for free while you can!
Interested in quant trading and investing? Check out Quant Invest Canada, taking place this October in Toronto.