How to Establish Yourself Full-time Income Through the Data Science and Engineering Communities

4 min read

Are you an algorithmic trading developer looking for other means to establish full-time income? If that’s the case, you should try securing income by entering the data science and engineering communities. After all, you can steadily generate a full-time income from selling signals to using special communities’ services, thanks to the vast opportunities offered in these fields.

And the best part about these opportunities in these fields? The risks here are only minimal, and you’re not required to invest a ton of money just to start your business here. 

Some signal providers earn hundreds of thousands of dollars by simply broadcasting their trading:

So, are you interested to know more? If you want to make more money and wish to enter these communities, here are some great opportunities for you to try out below!

Create and Sell Your Trading Signals 

If you’re an experienced trader, you can also generate steady income by selling signals aside from trading. For example, if your trade manages to produce consistent earnings, you can earn more regular cash flow by creating a signal that other investors can copy. To add, creating one only requires a small amount of money, so there’s no need to worry about denting your savings for this opportunity.

Investopedia provides a great example of what a trading signal is (applied in Apple (AAPL) stock).

It’s worth mentioning that you should avoid selling your signals the way you usually see some traders do on social networks. Tradenation warns, that most of the “Instagram traders” apparently are scammers, so it’s better not to associate your signals with this community.  

The Guardian published a piece on these so-called “wolves of Instagram”, specifically Elijah Oyefeso who claims to have started the traders of Instagram subculture. The reporter claimed that Oyefeso showed him a WhatsApp group full of thousands of young people he had attracted through social media. Charging each person £69.99 a month, they would receive messages from him that told them what to trade on next. Little did they know, these were all products he was selling.

Consider creating an account on trustworthy trading communities instead. All you have to do is to register as a signal seller in your preferred trading signals service platform. After becoming a registered signal seller, you can now create your trading signal and have it broadcasted for other investors to buy. As a signal seller, you will get paid in fixed monthly subscriptions whenever traders or investors decide to copy your trading signals. Besides, many investors would prefer to purchase signals from other traders instead.

Moreover, not all people diving into the investment field will have the sufficient knowledge or time needed for their trades or investments. So, by purchasing trading signals, investors can have a predetermined pattern that can significantly help them with their trades or investments. Overall, as long as you have an excellent strategy, you can get steady cash flow from this opportunity.

Develop and Sell Trading Robots and Applications 

Since you’re surely a trader yourself, you must know how tiresome it is to look at multiple price charts to fully understand their patterns. On average, you must be going through at least a hundred charts daily just so you can develop a fantastic trading strategy. And as previously mentioned, not all investors or traders have the needed time or knowledge to do all of that.

Even institutional investors daily use numerous computer-driven algorithmic strategies in the volatile trading markets, which drives share markets — according to Mordor Intelligence. These techniques enable the investors to cut down the costs of trades and improve their profitability.

So, as a trader and developer, you can help individuals and companies by developing and selling trading robots and applications. And by developing a well-made robot or application made for algorithmic trading to manage trading activities, you can say goodbye to doing time-consuming tasks just to stay up-to-date with the trends.

Naturally, many traders or investors would want this option for themselves too, which is why you should be encouraged to take this option! After all, robots and apps don’t get worn out and won’t commit any mistakes, hence why many users would buy a properly built robot or app made for trading.

However, just make sure that you join a reputed platform or network if you ever decide to go for this option. This ensures that you make secure transactions with users you sell your robots or applications with. Furthermore, great platforms would provide you with valuable services that will aid you as an algorithmic trading app or robot developer.

For instance, many platforms would ensure that sold products can only be used on a single device. Other platforms would also ensure that their payment processes use automation, ensuring you don’t have to fret when dealing with customer payments. In addition, prominent platforms for this industry would also guarantee that you can do hassle-free cash-outs by having a wide variety of bank and payment choices.

Become a Freelance Algorithmic Trading Developer to Fulfill Various Orders from Traders 

Other than doing the previous two methods above, there’s also another way for you to establish full-time income through the data science and engineering communities. And this other method entails becoming a freelance developer in the algorithmic trading industry. Besides, with vast IT-related sectors available, you have many opportunities to get clients as a freelance developer.

As expected, the opportunities in the algorithmic trading sector are also just as vast. Due to that, you can accept and fulfill tons of orders from traders. And to jumpstart your career as a freelance algorithmic trading developer, you can join trustworthy platforms such as MQL5.com for your budding freelance career.

The principle of working as a freelance trading developer — published on MQL5.Community

With the platform’s services, you can connect with clients and let them fill out a form that will allow them to input the following details about an order:

  • The specific kind of tool a client wants you to make
  • The project’s specified category
  • The preferred solution language for the project
  • What are the skills needed for the development of the project

As reported by Glassdoor, the average salary for an Algorithmic Trading Developer is $80,760 per year in the United States. This number can obviously be raised if you work on a freelance basis.

Moreover, as a freelance algorithmic developer, your clients aren’t just limited to your country. Thanks to global platforms such as MQL5.com, you’re free to connect with several clients worldwide! So, if you have excellent programming skills and a great understanding of the financial market, becoming a freelance algorithmic developer is a good choice for you.

Wrapping Up

To put it in a nutshell, there are plenty of ways to earn a full-time income in the financial market through the data science and engineering communities. For instance, you can have your signals copied by other investors, create useful apps or tools for fellow traders to use, or become a freelancer to fulfill trade-related orders. All in all, the possibilities are practically endless.

And to earn more knowledge to kickstart your career in the algorithmic trading world, you can always refer to valuable MQL5 services. Besides, MQL5 doesn’t just offer assistance in trading in financial markets. In fact, it also happens to be loaded with a wide variety of resources related to the world of algorithmic trading. Best of luck in all your money-making endeavors!


[DDI Editor’s Note] Data Science Quant Collaborations

For those who are interested in creating/testing trading signals/algorithms with both traditional and non-traditional data, and may like opportunities to manage real money, please also take a look at our own data science quant incubation program here.

Anastasia Shcherbina Anastasia is a technology-oriented writer with extensive experience advising SaaS and blockchain startups. She holds a master's degree in digital marketing and mainly writes with a focus on financial and technical trends.

Leave a Reply

Your email address will not be published.