I think some of the financial applications around LLMs right now are better suited for things like summarization, aggregation, etc.
We at Tradytics recently built two tools on top of LLMs and they've been super popular with our usercase.
Earnings transcript summary: Users want a simple and easy to understand summary of what happened in an earnings call and report. LLMs are a nice fit for that - https://tradytics.com/earnings
News aggregation & summarization: Given how many articles get written everyday in financial markets, there is need for a better ingestion pipelines. Users want to understand what's going on but don't want to spend several hours reading through news - https://tradytics.com/news
That's a fair point. But models like GPT4 do not hallucinate much when it comes to summarizing. So I don't think these applications contribute to anything negative.
Started trading back in 2020 and realized how bad I was it, and how much I needed a strict system to eliminate emotions! Had a degree in CS so spent a few months reading up on quant related stuff and realized how negligent I and other retail traders were, and how much data driven insights could help (ran over a million backtests the last 2 years)!
Built a simple analytics tool to show dozens of correlations & analytics between a wide variety of financial data points, and bootstrapped it to $120k/month! We grew from 0 to 54k users in two years, all organic. Has completely changed my life.
So, 13 months ago [0] you said on HN that you were making $120k/month with 3000 users. How come you're still making the same amount but with 18x more users than you had more than a year ago? What's the disconnect?
Developer of the plugin here. Right now, this only works for twitter on firefox, but I plan on expanding it to other platforms like Facebook & Youtube and to other browsers like Chrome.
I have about 6 years of applied AI experience and I have been trying to work on something that can use that experience and be useful to others.
Ended up building an analytics based platform that uses data analysis techniques to generate trade ideas for retail investors [0]. Started it as a hobby July 2019, but it ended up growing quite big. The plan was to generate about $1k/mo but we are generating about $120k/mo these days with over 3000 paid users. I think I'm the most fortunate person in the world, never in my wildest dreams did I imagine this much.
I still work on it solo and have no plans on hiring a team, because solo is where I have most fun, and that's important.
Selling hope to the hopeless. Nice. If any of this worked, you would either use it yourself to make FAR more than $120k a month or sell it to a quant fund for an 8-figure payout.
How do you answer the following inevitable questions?
If you have good trade ideas/signals, then why do you not use them yourself? I assume you do not use them yourself because it' does not make sense to share your edge (if you have one). If you do not have an edge, how can you be offering "trade ideas"?
These are common questions people ask that haven’t actually been involved in generating trades professionally.
But people who have don’t ask those questions because finding edge in the markets is actually pretty easy. Finding edge that is scalable is the hard part.
For professional traders it doesn’t make much sense to engage in all the small edge trades because it won’t pay more than your opportunity cost if you did something else. For retail traders that constraint isn’t true.
Now, I don’t have any idea if this particular product actually offers good trades, but it’s not true that as a class you can’t make more money selling profitable trades than you can using the trade yourself.
Well, sure - it could certainly be the case that it's easier to scale selling trade ideas than trading them on yourself - hell there's a whole industry around it (alphacapture). I am somewhat skeptical, especially as this is marketed towards retail who have fewer instruments to guage themselves if the product their getting actually offers trade ideas with positive expected value or not.
Same could be said about a concept of solo traders. If you are as successful as you claim why don't you run a fund? However, a lot of people do solo trading as its more of job/hobby where the only thing you risk is your capital. Plenty of people don't have stomach to deal with others lifetime savings? (or even potential of such person in your client pool)
Its different. Not everything scales as nicely and dealing with responsibility is going to become a burden soon. Here you are selling your advice, most likely all traders have similar access to this advice and can perform trades with their own judgement.
> Same could be said about a concept of solo traders. If you are as successful as you claim why don't you run a fund?
This doesn't make sense though, running a fund is not necessarily natural progression of being a successful trader. But if one says they have a real edge that the average retail trader can monetize, then why doesn't one just take advantage of it themselves as this is effectively the lowest size of scale.
Initially, just posted in a bunch of subreddits on reddit to get engagement. But the retention was quite low. I still used that engagement to get a couple hundred followers on twitter.
Afterwards, realized that twitter had the most solid trading community out of any other platform. So all I've been doing for the last one year is build a community on twitter now (and of ofcourse discord too since everyone's there these days). I try to post ideas from the system every day, and when people see them work and make some money off of them, they subscribe to the paid plan.
Discord has a massive portion of the overall trading community, so I created discord bots to pull data from the web product, and every data item had our logo on it. That helped quite a lot in expanding the brand name and reaching more people. We're in about 250 discords and reach about 100k members in them overall.
Finally, 12 hours of sitting in front of a laptop every day lol.
This is just crazy, someone doesn't like when the retail is winning. Looking at the options flow for this, more than 100 million dollars have been spent on contracts today. Halting it all of a sudden only makes people lose money.
I think that going up or down 10% (or more) in a span of 5 minutes is a pretty solid criteria for automatic halting, which is what it is today. If you have a better proposition for the halting criteria, please post it here.
haha I am the developer of it so I can't really say anything lol. Although we don't have OTC, a lot of other stuff is free on the website so give it a go with a free account. Always happy to answer questions.
It looks good, I'll definitely give it a real try if I start trading options more, the order flow data alone looks like it would make it worthwhile. Do you incorporate L2 data? Couldn't find that anywhere, only thing that seems like its missing.
A one-stop shop trading toolkit to empower retail traders. I see so many traders lose shit ton of money just because they have no idea when it's NOT the time to buy. Been working on a platform to use AI to suggest users decent entry exit points. It's not totally automated but that's the point - use AI and humans together!
What statistical tests have you done to back up the claim "the ranking engine has been trained on a large amount of data and has high predictive power"?
I'm having trouble connecting predictive AI models on highly biased portfolios only optimized on historical data to live high risk-adjusted returns and diversified portfolios.
Do you have any numbers for the volatility of your portfolios and/or downside risks?
