Jeremy is the founder of SharkIndicators and Chief Architect of BloodHound, a revolutionary trading software that allows traders to model their trading rules and systems without coding, providing clear precise signals.
With over 19 years of combined software development and trading experience, Jeremy is a rare breed of both professional software developer and trader. Jeremy’s company, SharkIndicators, is the result of his expertise, passion and devotion to the betterment of retail traders. His primary mission is to arm retail traders with the same power and technology once only privy to that of deep pocketed hedge funds.
Tell us a little about your background and what led you to trading?
Ever since a young age, when my parents bought me a computer at the age of 8, I have been passionate about developing software tools.
However, after the market crash of 2008, I decided it was time to learn how to manage my own future. The following years of education studying options, futures, technical and fundamental analysis techniques have provided me with an acute understanding of what traders need on a daily basis.
When I dove deep I discovered there was a raging gap in terms of what was available to me as a retail trader. Immediately I began building tools that would benefit me as a trader. I reasoned shortly after that these tools should really be shared with the world, rather than kept proprietary.
Why did you create BloodHound?
Originally, I set out to build a trading system that would mimic what highly skilled professional traders do. After mentoring under several successful discretionary traders, I noticed they had something in common. They loved to tinker with their trade system. They were constantly evolving, tweaking and improving their trading system - in some cases on a weekly basis.
I quickly found that it was impossible to keep up. By the time I had implemented something that they had incorporated last week, they were on to something new. To solve this dilemma, I instead went about building a tool that would allow me to model their trading behavior. The tool had to let me change it up quickly. I wanted to be able to update the trade system with a few mouse clicks, not pour over reams of source code.
This tool, which has now evolved tremendously since it’s inception, is what BloodHound is today. It really opens the doors for the retail trader, allowing them to research, backtest, analyze and auto-trade systems. These critical steps were surprisingly off limits to the average trader and accomplished by only the elite few where software developers themselves or had the deep pockets to hire staff. I’m ecstatic by the reception from the trading community about our software, and our users are amongst some of the most loyal and passionate individuals. It’s really satisfying.
What do you like most about what you do?
I love the creative aspects of trading. Most of all I love hearing what other traders are doing and what they are succeeding at. It never ceases to amaze me the stuff people are able to come up with, specifically within the BloodHound system. Some of the systems I’ve seen that customers have presented me with would literally blow your mind in terms of what they can do.
When I develop new features in the software, I’m mostly excited to see what users will actually do with them. Sometimes it’s stuff that I wouldn’t have thought about doing in a million years.
Why did you choose to build Shark Indicators for the NinjaTrader platform?
NinjaTrader was a natural choice for many reasons, one of them being that their platform is the most open and extendable. They also have a very sophisticated user base of savvy traders (to put it another way: our software is not necessarily for beginners).
These were my initial reasons for developing for NinjaTrader.
However, as my partnership with NinjaTrader developed, I quickly learned what a great decision it was. They help us get the word out there, they make introductions on our behalf to key partners. They literally have a dedicated team devoted to just helping us succeed.
Why do you think more and more people are interested in program based trading?
To ignore the power of software, and the speed and efficiency it brings to the table is really like trying to win a drag race with your running shoes. With the right tools, you can tell in seconds if your system would have made money in the last 1000 trades. Before you put a single dollar on the line, you know drawdowns, the risk and reward metrics (sharpe ratio) and critical information that would otherwise take many hours to calculate manually. Then you can make tweaks and quickly do it all over again hundreds of times until you arrive at something tradable.
This information is an important edge that retail traders often do not have going into the market; because traditionally you’d have to be a pretty savvy coder to pull it off. And even if you were a coder, you’d be spending more time coding than actually developing your trade system (personal experience!).
Finally I think there are many people that would love to be able to monitor their trade systems in action rather than have to trade it manually. Once you’ve done the groundwork to determine if you have probability on their side, the second major hurdle is managing emotions during trade execution. Frankly it doesn’t matter how good your system is if you muck it up with emotional trades. This is where auto-execution comes in, and the second major component to BloodHound. This also happens to be the area where computers excel at - as they are faster and more accurate than humans. Now you can supervise the computer as it trades on a higher level, rather than bite your nails waiting to trigger the mouse on the exits.
On the other side of the spectrum, elite traders who are able to manually manage their trades successfully can get an edge by having the computer clearly mark their entries and even get them into the market automatically. This ensures they never miss important signals, and allows them to audit many more markets simultaneously.
Does someone have to have a programming background in order to take advantage of our Bloodhound software?
BloodHound is designed to allow non-developers the ability to model full blown trade systems without coding. They can backtest, analyze and auto-trading their own trade systems without the time consuming process of learning C#, debugging and testing. You can trade and have a life too, imagine that!
However, we still have many customers that are also software developers themselves. The reason for this is BloodHound is fully extendable and will work with any custom written indicators or chart types. Additionally software developers can harness BloodHound’s run-time configurability to dynamically specify your signals and still have your own custom code to perform the executions and manage the trades. You get the best of both worlds. Super fast trade system modelling, and fined tuned control of trade execution.
Explain the difference between a prebaked system and Bloodhound?
Prebaked systems are tricky for the number one reason that they have to be traded the way they were intended to be traded (which more often than not will be different than the way you actually trade it).
BloodHound is a tool that allows you to craft a system from scratch. It allows you to custom tailor the trade system to suit your risk profile and personality. I’ve always believed that trading is a very personal affair. You have to believe in your system to trade it effectively. And the only way to to do that is trade your own system, whether you’ve derived it from someone else and modified it, or built it from scratch.
How do you see SharkIndicators helping traders improve their odds over 2013?
We’ve got some very exciting features that are coming down the pipeline, including a full blown trade/money management product that will be tightly integrated with BloodHound. It will allow you to mimic the finesse of discretionary traders who expertly manage their trades to absolutely maximize their profitable ticks.