I Built NexusTrade — The Most Advanced Stock Paper Trading Platform To EVER Exist.
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I lost over $10,000 my first year trading. I was new to it, and took unbelievable risks. I remember doing my financial “research” using /r/wallstreetbets on Reddit, and then seeking confirmation for my crappy trades on YouTube, Twitter, and TikTok. Once I discovered options, my account blew up in weeks, and I lost over $10,000.
Most sane people would have taken that loss as an opportunity to give up. I couldn’t. I was enamored. I thought of stock betting as a zero-sum contest and treated making money as proof that I was smarter than other people. That was my mindset then. I took the expensive lesson as a reason to improve my trading process.
That was 5 years ago. Since then, I finished my degree from Cornell University in Biological Sciences. I received the GEM Fellowship, and obtained my Masters in Software Engineering from Carnegie Mellon University. There, I learned how to build large, scalable, fault-tolerant software systems, and I learned how Artificial Intelligence worked. I took courses in Deep Learning, Reinforcement Learning, and Artificial Intelligence, and then combined everything I learned and the lessons from my failed trades, to create an unparalleled trading experience — NexusTrade.
What makes it so unique?
NexusTrade was engineered to deliver a trading experience unlike any other platform. Its unique feature-set rivals the most popular trading platforms like Robinhood and Fidelity. Here’s what makes it special:
AI-Powered Chat
NexusTrade’s flagship feature is a GPT-Powered AI Chat Application. This isn’t an ordinary chatbot; the AI is capable of understanding complex user input, and generate fully automated trading strategies.
It doesn’t stop there. The chat has numerous other capabilities aside from generating strategies. Users can backtest their portfolios directly from the chat to see how well their portfolio performed in the past. Additionally, users can perform detailed financial analysis of any company, by simply asking the agent to perform the analysis.
Read: 💬 A Comprehensive Guide to Deploying ChatGPT for Zero-Cost Financial Analysis of Any Company 📈
The best part of the chat is that it’s TRIVIAL to extend and add additional features. While other companies spend hundreds of man-hours implementing features for their AI-Powered Chat, this is made trivially easy for me thanks to NexusGenAI.
Go to NexusGenAINexusGenAI was built out of a real need. Creating sophisticated AI applications is difficult, time-consuming, and error-prone. It’s a nightmare to manage the different prompts in an AI application, and extremely time-consuming to implement features such as Retrieval Augmented Generation (RAG), Semantic Searching, and a stateful chat. NexusGenAI removes all of this complexity, so I’m able to focus solely on implementing new features.
The AI chat is definitely a huge selling point. But it’s not the only thing that sets NexusTrade apart from the competition.
Capable of Automated and Manual Trading
Most platforms allow users to do manual trading. That’s not exactly a differentiator. NexusTrade similarly makes this process easy, by allowing users to purchase in shares or amount values.
In this November 2023 version, users could configure trading conditions and run the resulting rules in a paper portfolio. The deployment settings below controlled when the simulated rules were evaluated.
Users have two options when deciding to deploy their strategy. For one, they can opt to trade only once when the market opens and closed. This setting closely resembles the backtest environment. Alternatively, for our intraday daytraders, NexusTrade gives you the ability to have continuous deployment 24/7.
While fully automated trading is unique, there exists other platforms like Composer and Pluto that allows users to perform algorithmic trading. They even have their own variation of an AI–Powered Chat. So what makes NexusTrade stand out amongst the rest?
Optimization Engine: Elevating Trading Strategies
NexusTrade’s Optimization Engine searches a finite set of candidate strategy parameters and compares their historical results. The controls below let users choose what to vary and how to score the candidates.
- Strategy Optimization through Simulation: The engine runs thousands of backtests, enabling users to iteratively improve their trading strategies based on historical performance.
- Customization and Control: Users have the flexibility to adjust various parameters such as mutation rate, population size, and the fitness function. This level of customization ensures that the strategies are tailored to individual user preferences and goals.
- Comparing historical windows: Test a candidate in different periods to inspect how sensitive its results are to the chosen dates. This can expose weakness; it does not establish that the strategy will remain robust in future markets.
- User-Friendly Interface: All these complex operations are integrated within NexusTrade’s intuitive user interface, making it accessible even to those with limited technical expertise in algorithmic trading and stochastic optimization processes.
- Continuous Evolution and Improvement: The Optimization Engine is not static; it’s designed to evolve and adapt, continually improving strategies based on new market data and user feedback.
The Optimization Engine is a testament to NexusTrade’s commitment to providing a sophisticated yet accessible platform for traders of all levels. It empowers users to refine their strategies, making informed decisions based on comprehensive simulations and analysis.
What are its limitations?
NexusTrade isn’t perfect — it’s a platform that was independently developed by one person. Thus, despite its comprehensiveness, it still has areas it could improve. Most notable are:
- Can’t Trade with Real Money: NexusTrade is a paper trading platform, meaning users can simulate trading strategies and analyze market behavior without the risk of losing real capital. While this is great for learning and testing, it does mean that you can’t execute real trades or realize actual financial gains through the platform.
- No Cryptocurrency or Options Trading: The platform currently doesn’t support trading in cryptocurrencies or options. This limits the range of financial instruments that users can explore and trade, making it less suitable for those interested in these more volatile markets.
- Reliance on OpenAI APIs: As of now, NexusTrade depends on OpenAI’s APIs for its AI functionalities. This reliance may raise concerns about long-term sustainability and independence, especially with the rapidly evolving landscape of AI technologies. However, as NexusGenAI matures, we will be migrating many of the models to open-source and fine-tuned alternatives.
- Opacity in Operations: Despite its advanced features, NexusTrade has aspects that are relatively opaque to users. For example, if a trade was executed, it’s difficult to figure out why the trade occurred. This lack of transparency can be a hurdle for users who prefer to understand the inner workings of their trading algorithms. Efforts are ongoing to improve clarity and user understanding.
- Limited Technical Indicators: The platform doesn’t yet incorporate all technical indicators used in financial analysis and trading. This limitation could impact the ability of users to deploy certain complex or niche trading strategies that rely on these indicators.
- Incapable of Using Fundamental Data for Strategies: While the AI–Powered Chat allows users to perform financial analysis, it’s currently not possible for users to create strategies on these types of indicators. The architecture of the platform fully supports this — it’s just a matter of finding the time to implement it.
- Advanced Order Types Not Implemented: Currently, NexusTrade doesn’t support advanced order types, including limit orders. This limitation could affect traders used to having a range of order options like stop-loss orders, trailing stops, or conditional orders, which are essential tools for risk management in trading.
Is NexusTrade right for you?
The short answer , you’re never going to know unless you try it. Whether you’re a novice investor that’s curious about algorithmic trading, or a seasoned veteran looking for a platform to streamline their ideas. NexusTrade is completely risk-free, and doesn’t support trading with real money. If it doesn’t work for you, then you’ve lost nothing! But it could be just the tool you needed to start being profitable in the market.
Don’t do what I did and lose thousands of dollars risking your own capital. Learn to create a systematic approach to trading, and improve your trading with next-generation technology.
Thank you for reading! Stay tuned for more updates on the NexusTrade platform. Interested in applying AI to finance? Subscribe to Aurora’s Insights! Want to try create your own the AI-Chat application? Sign up for NexusGenAI today!
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