Cristian Mihail Păuna
Cristian Mihail Păuna
Doctor of Philosophy
I am specialized in algorithmic trading and investment.
About
54
Publications
113,275
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147
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Introduction
I am specialized in algorithmic trading. I am applying artificial intelligence to increase investment efficiency in capital markets. All my work and results are made public here for free. Enjoy it!
Additional affiliations
January 2011 - December 2022
Algorithm Invest Corporation
Position
- Managing Partner
Description
- https://algoinvest.pro
March 2008 - January 2011
General Group Company
Position
- Manager
January 2006 - March 2008
General Group Ltd.
Position
- Manager
Education
October 2017 - September 2020
October 1996 - April 1998
Field of study
- Aircraft Faculty - Propulsion Systems - Aeroacoustic
September 1995 - July 1996
Field of study
- Aircraft Faculty - Special Elements of Aerospace Engineering
Publications
Publications (54)
Every trader needs a good trading strategy. There are many breakout strategies, but I found few that are really profitable. By chance, I found one presented and improved by Tom Hougaard on his professional site (tradertom.com). I trust Tom Hougaard. I met him in London in 2010, and he inspired me a lot during this time. Therefore, I decided to incl...
A professional algorithmic trading portfolio includes at least 10 to 20 capital accounts running from 10 to 50 expert advisors on at least 10 to 20 capital markets. This is not a standard, but it is the practice I can see around. This article tries to answer the question: how can we choose the right expert advisors? Which are the best for our portf...
This paper is not about how much to invest or to risk on a trade. No, not at all. These are subjects well treated and forever concluded by many authors in the last decades. This paper is about what you can not see in a backtest report, what you should expect using automated trading software, how to manage your money if you are using expert advisors...
After several attempts to publish my Ph.D. thesis with different prestigious publishers, I have decided to make this work public and free of charge for anyone. Enjoy! Cristian Păuna
Capital investment is a sustained activity nowadays. After the worldwide release of the electronic trading systems, automated decision-making investment software is the new trend in financial speculation. A significant part of capital trading is fully computerized today. The buying and selling orders are made and sent automatically, almost in real-...
PhD Thesis Presentation
Moredn Methodologies for Business Intelligence Systems Design
Capital investment is a sustained activity nowadays. The buy and sell decisions are usually made in technical analysis using the price quote evolution in time. Another useful information provided by any stock exchange is the trading volume for each time interval. The volume information is usually hard to be included in a trading or investment strat...
Capital investment is a sustained activity nowadays. After the worldwide release of the electronic trading systems, automated decision-making investment software is the new trend in financial speculation. A significant part of capital trading is fully computerized today. The buying and selling orders are made and sent automatically, almost in real-...
Capital investment is a sustained activity nowadays. After the worldwide release of the electronic trading systems, automated decision-making investment software is the new trend in financial speculation. A significant part of capital trading is fully computerized today. The buying and selling orders are made and sent automatically, almost in real-...
Using automated capital investment software systems is a common task today. At the beginning of the third millennium, modern investors are using artificial intelligence resources and methods to find the best investment opportunities on capital markets and to process the trading orders. One of the most important aspects of this activity, besides the...
Using automated capital investment software systems is a common task today. At the beginning of the third millennium, modern investors are using artificial intelligence resources and methods to find the best investment opportunities on capital markets and to process the trading orders. One of the most important aspects of this activity, besides the...
It is well-known that the receipt of information by any person undergoes transformations, modifications and distortions depending on the personality, the experience, the level of education and culture and the habits of each person. In the activity of promoting and selling a computer service for investors, one can notice that there are several behav...
Este binecunoscut faptul că recepționarea informației de către orice persoană suferă transformări, modificări și distorsiuni în funcție de personalitatea, experiența, nivelul de educație și cultură și de obișnuința fiecăruia. În activitatea de promovare și vânzare a unei investiții, se constată existența mai multor tipare comportamentale. Astfel, d...
Este binecunoscut faptul că recepționarea informației de către orice persoană suferă transformări, modificări și distorsiuni în funcție de personalitatea, experiența, nivelul de educație și cultură și de obișnuința fiecăruia. În activitatea de promovare și vânzare a unui serviciu informatic destinat investitorilor, se constată existența mai mjultor...
ABSTRACT Algorithmic capital investment procedures became the essential tools to make a profit in the volatile price markets of the 21st century. A large number of market participants, private traders, companies, or investment funds are buying and selling on thousands of markets every day to make a profit. After the 2010 year, algorithmic trading s...
Presentation: Reliable Signals and Limit Conditions using Trigonometric Interpolation for Algorithmic Capital Investments
Capital investment, trading, or any business, all are activities involving risk. A proper capital management strategy to ensure long-term profitability is valuable nowadays. High price volatility in the stock markets, unpredicted or unusual economic and geopolitical news, or just hard to manage rare resources or human factors, all of these are inst...
Capital investment, trading, or any business, all are activities involving risk. A proper capital management strategy to ensure long-term profitability is valuable nowadays. High price volatility in the stock markets, unpredicted or unusual economic and geopolitical news, or just hard to manage rare resources or human factors, all of these are inst...
Price Prediction Line. Investment Signals and Limit
Conditions Applied for the German Financial Market. Conference Presentation.
In the first decades of the 21st century, in the electronic trading environment, algorithmic capital investments became the primary tool to make a profit by speculations in financial markets. A significant number of traders, private or institutional investors are participating in the capital markets every day using automated algorithms. The autonom...
In the first decades of the 21st century, in the electronic trading environment, algorithmic capital investments became the primary tool to make a profit by speculations in financial markets. A significant number of traders, private or institutional investors are participating in the capital markets every day using automated algorithms. The autonom...
![Fig. 5 Code sample to compute the PCY Function [4]](profile/Cristian-Pauna/publication/335690729/figure/fig5/AS:801109140570113@1568010711585/Code-sample-to-compute-the-PCY-Function-4_Q320.jpg)
After the widespread release of electronic trading, automated trading systems have become a significant part of the business intelligence system of any modern financial investment company. An important part of the trades is made completely automatically today by computers using mathematical algorithms. The trading decisions are taken almost instant...
This paper presents a practical methodology to reduce the capital exposure by early exits from the financial markets using algorithmic trading. The method called trading fragmentation uses several automated trading software applied on more unrelated markets and a particular risk management strategy to obtain a higher profit level with a lower risk....
One of the most popular trading methods used in financial markets is the Turtle strategy. Long-time passed since the middle of 1983 when Richard Dennis and Bill Eckhardt disputed about whether great traders were born or made. To decide the matter, they recruited and trained some traders (the Turtles) and give them real accounts and a complete tradi...
Investing in capital markets is a common task today. An impressive number of traders and investors, companies, private or public funds are buying and selling every day on the free markets. The current high price volatility in the financial markets gives everyone a tremendous number of speculative opportunities to make a profit. Sometimes the price...
Business intelligence systems represent a significant trend today. Choosing the right project management methodology is an essential step for a successful business intelligence implementation. New aspects and perspectives are included in this process nowadays due to new requirements imposed by the real-time activities. The automated decision-making...
Business intelligence systems represent a significant trend today. Choosing the right project management methodology is an essential step for a successful business intelligence implementation. New aspects and perspectives are included in this process nowadays due to new requirements imposed by the real-time activities. The automated decision-making...
After the widespread release of electronic trading, automated trading systems have become a significant part of the business intelligence system of any modern financial investment company. An important part of the trades is made completely automatically today by computers using mathematical algorithms. The trading decisions are taken almost instant...
After the widespread release of electronic trading, automated trading systems have become a significant part of the business intelligence system of any modern financial investment company. An important part of the trades is made completely automatically today by computers using mathematical algorithms. The trading decisions are taken almost instant...
Buy cheap and sell more expensive. This is the main principle to make a profit on capital markets for hundreds of years. The rule is simple but to apply it in practice has become a very difficult task nowadays, with very high price volatility in the financial markets. Once electronic trading was widespread released, reliable solutions can be found...
Buy cheap and sell more expensive is one of the basic idea trading the capital markets since hundreds of years. To apply it in practice has become difficult nowadays due to the high price volatility. The uncertainty in the price movements often leads to a high risk allocation. One main question is when the price is low enough for a low risk entry?...
Low risk trading algorithm based on the price cyclicality function for capital markets
Buy cheap and sell more expensive is one of the basic ideas of trading the capital markets for hundreds of years. To apply it in practice has become difficult nowadays due to the high price volatility. The uncertainty in the price movements often leads to high-risk allocation. One main question is when the price is low enough for a low-risk entry?...
Trading and investment on financial markets are common activities today. A very high number of investors, companies, public or private funds are buying and selling every day with a single purpose: the profit. The common questions for any market participant are: when to buy, when to sell and when is better to stay away from the market risk. In order...
Automated trading software is a significant part of the business intelligence system in a modern investment company today. The buy and sell orders are built and sent almost instantly by computers using special trading and computational strategies. The trading decisions are made by automated algorithms. In this paper it will be presented one of thes...
Trading the financial markets is a common idea nowadays. Millions of market participants, individuals, companies or public funds are buying and selling different equities in order to obtain profit from the buy and sell price difference. Once the equity was established, the main question marks are when to buy, when to sell and how long to keep the o...
![Figure 1: Bullish and bearish price time series candlesticks (source: [14])](profile/Cristian-Pauna/publication/328811639/figure/fig1/AS:690746793418758@1541698277920/Bullish-and-bearish-price-time-series-candlesticks-source-14_Q320.jpg)
Heikin-Ashi is the Japanese term for "average bar". This methodology is well known as one of the methods to identify and follow the trends using a price time series in financial markets. Nowadays, in the first decades of the 21st century, in the electronic trading environment, with very volatile price market conditions, using the Heikin-Ashi method...
Smoothed Heikin-Ashi Algorithms Optimized for Automated Trading Systems
Measuring investors risk aversion is an important step in the RiskM methodology to include capital management into automated software systems. This model was published here for the first time at 14.10.2018.
Trading the financial markets is a wide activity nowadays. There are several indicators to measure this activity. The drawdown, the profit factor and the trading efficiency are some of them. This paper will present a different one: the quality trading coefficient. The new formula will indicate several particular aspects originating from the human p...
Being given a trading signal Ts based on the Price Prediction Line [1] (PPL) monotony, limited by the Price Cyclicality Function [2] (PCY) values, it was found that waiting on market (not to trade the current Ts trading signal) in some imposed price conditions, is significantly improving the profit and the trading efficiency.
(DOI: 10.13140/RG.2.2...
When it is about to trust an automated trading system, one of the main questions is about the efficiency. We are wondering if the results are concludent and good enough to be considered better than other trading system. The efficiency will be the main factor in order to consider the investment. To answer this question we share the last trading resu...
After the introduction of the electronic execution systems in all main stock exchanges in the world, the role of the automated trading software in the business intelligence systems of any financial or investment company became significant. Designing of reliable trading software to build and send automated orders based on quantitative mathematical m...
The objective of this paper is to display the main directions to develop a business in the financial and cryptocurrency environment. Once the electronic trading was released, a tremendous grow in financial trading activities open day by day good opportunities for profit. In addition, the cryptocurrency market build a new trend nowadays with spectac...
When dot.com has become a quaint idea, when electronic shops have lost the mass attention, while classical and margin trading has become obsolete, something new is coming: cryptocur-rencies. Hundreds of virtual coins have been invented for a single reason: the profit. The high price volatility of these new markets and the fact that the virtual coin...
The most important part in the design and implementation process of automated trading systems in any financial investment company is the capital and risk management solution. Starting from the principle that the trading system must run fully automated, the design process gets several particular aspects. The global stop loss is a special approach fo...
Capital and Risk Management for Automated Trading Systems
This book is a collection of tests for applied mechanics.
The paper is addressed to all students who study or deepen technical disciplines such as machine organs, mechanisms, general technology, technical drawing, mechanics, as well as other complementary disciplines, which contribute to the training of a specialist in the design of mechanical sys...
Starting from the fundamental equation theory of elasticity (Lamè), applied in the case of an elastic semi-space in the presence of a concentrated force, it is proposed to develop it for a uniformly distributed load characteristic of a screw-flange assembly. Expressions of spatial stresses resulting from tightening and limit conditions are proposed...
In order to increase the applicability of the hydrostatic bearing systems, the influence of the geometric and functional parameters on the bearing capacity, the rigidity, the flow and the moment of fluid friction, the power lost through friction and the power consumed by the pumping of the working fluid are studied.
Using the algorithm developed on the basis of the flow balancing method for calculating the main functional characteristics of a complete radial hydrostatic bearing (eccentricity, lubricant feed rate, freed-up power, pumping power, static stiffness, film thickness and operating temperature) it was determined the influence of geometric and load para...
Questions
Question (1)
The goal of TheRiskPsychology project is to identify emotions, fears and social trust related with the financial trading activity using algorithmic trading and automated trading systems. A methodology to measure and the risk aversion based on the applied psychology principles is under test and development. The final goal is to identify the optimal psychological conditions and a model to adapt the trading software to fit the users profile related with the trading risk involved in the financial activity.
