it is a subscription fee... not all that "costly" but still... weird model being driven out of the portfolio size being traded... anyhow, what I found more frustrating was the duration of the trial... 7 days is not enough to test anything... I think it was a good platform, it had its kinks, and equity basket pairs are something that interest me very much...
The minimum cost is $300 per month, which includes all data, and the first month is prorated. The reason the fee is variable is b/c there is a significant difference between a trader managing a portfolio of 50k vs a fund managing 50 million, and the fees are adjusted accordingly. The trial period standard is 7 days. This may be adjusted on a case by case basis, and extended for 160/month (to cover our costs). Not many execution platforms allow for free trial periods anymore.
I understand you are a sponsor but why in the hell do you want to share these strategies. Yes you can loose money trading spreads but don't blow a good thing for subscription fees..... Delete Tread!
Thanks SH...I think. I've been doing this a long time (since 2001) and up until 2010 it was all private (you can view my bio on twitter or linkedin). In mid 2010 we released a beta version to a small test group out east and received great response. Iris has been around for a while, however we only recently started to aggressively market as more and more traders disappear due to all the old strategies drying up (along with volume) and nothing working like it used to. We intend to change that. From education to execution we offer everything a trader needs. We will be posting charts, entries/exits realtime, strategy, etc, to quickly do away with the 'non-believers'. I even call out many trades daily in our free chat--doesn't get much easier. As for saturating the market...that's impossible. Iris pairs trading platform is a 20 level system, completely customized down to the % of capital allocated at each level. There are 3.2 million pair combinations in the US market that meet the minimum volume and price criteria (400k avg daily and $5/share). In the near future traders will have global market access allowing them to trade overseas markets as well as cross country trading. The possible pair combinations are nearly endless.
you presume there is an "edge" in their platform...you still need to identify the pairs on your own... so there is still homework that is in your hands that needs to be done...
One of the things I find interesting is why sell a pair trading software. If truly indeed you have an edge trading pairs and know what you are doing then why not market yourself as a pair trading firm, or at maybe show your success and teach trading pairs. I've looked at your site and your posts, and I must admit I'm not really into the software, I'm interested in the pair trading idea. It's like your marketing one thing and selling another. If you do have an edge and believe that the amount of saturation of having other traders apply the same strategy is minimal, then give them what they what... The knowledge to trade pairs... Not a piece of software
So Patrick, can you explain the edge that a trader can bring to your system (as opposed to the other way round). I am asking on the assumption that if Iris, in and of itself was the edge, then you wouldn't be selling it. Also, can Iris trade Australian equities? I need software that doesn't keep me up at night
Hi Guys, WhiteOut56 -- Pair Trading was developed by Morgan Stanley in the 80s..it's not a new strategty, but an increasingly popular strat over the last few years as it is a more risk averse style of trading, providing a constant hedge in all market conditions (up/down/sideways). Craig/boffster -- Chronos Technologies is a software company, specifically designing pairs trading applications, namely Iris. Software companies sell software. The "edge" is the unmatched capabilities of Iris in the pairs trading realm..which we in turn provide to the trader. However, in addition we also provide education, free workshops, a free chatroom, free trade callouts, all to accelerate the learning curve. We want to see traders succeed and continue to enjoy and use our software. The model is not based around a revolving door. I'm a trader; been a trader for a long time. Aside from Chronos and my personal trading, I've been a fund manager and private equity manager for years. I want to see guys succeed in this business, not disappear. If I can provide something that I see working (which obviously I do), and has been working for decades with only further expansion opportunities ahead...well, that's what I'm doing--that's what WE are doing at Chronos. Of course ultimately it's up to the trader to stay on top of their pairs, and use settings that make sense. That is why we offer an endless amount of continuous education and a live trading forum (chatroom, twitter, direct phone support, etc) to help each user succeed. Thanks for the interest.
question, where can we find the continuous education part on the website? thus far the videos are very few and they cover little, everything in the surface, nothing with very much depth... that was one of the challenges I had during the ultrashort trial period... I dont mind spending $160 to try it on my own until I understand it, but my issue was how can I understand it if I cant even find enough info as to what behavior the settings will apply when modified, etc.