There are few examples of actually attention-grabbing software program created by one-person. One probably the most well-known examples is the creation of the Linux working system by Linus Torvalds. He created Linux as a private mission, and now, it’s a cornerstone of recent computing.
NexusTrade is one other instance of an amazing software program system developed by one individual, me, Austin Starks. When in comparison with different buying and selling platforms, it is without doubt one of the strongest algorithmic buying and selling platforms on the market, providing options that different platforms merely don’t. As we speak, I’m going to do a (principally) unbiased comparability between NexusTrade and a couple of different buying and selling platforms: Robinhood and Composor. With this comparability, you may make the choice your self on whether or not or not NexusTrade is a formidable software program system.
NexusTrade is a fully-automated paper-trading platform that lets customers create, check, and deploy algorithmic buying and selling methods. It encompasses a highly effective AI-Chat, that may translate conversational English right into a configuration that the platform can perceive.
Along with creating methods, the platform permits non-technical customers to optimize their technique utilizing genetic algorithms. These algorithms modify the unique parameters of a technique to enhance the efficiency of the portfolios primarily based on previous historic knowledge. This characteristic is pretty distinctive, and no different buying and selling platform has a genetic optimization engine baked into its UI.
Furthermore, customers can use the platform to carry out monetary analysis and analyze any firm’s financials. I’ll speak extra about this within the following part.
For extra data on NexusTrade’s options and performance, check out the following article.
No matter what your opinion on Robinhood is, there may be one indisputable fact — it remodeled the monetary trade. Robinhood was the primary widespread brokerage to supply commission-free buying and selling. Which means, customers might purchase and promote shares for completely free. This mannequin compelled each single different main brokerage to observe in Robinhood’s footsteps, and eradicated commissions all through the whole trade.
As well as, Robinhood’s person interface is unmatched. It’s easy and easy-to-use, and even skilled merchants can’t deny that it makes buying and selling accessible to everyone.
Nonetheless, Robinhood will not be an algorithmic buying and selling platform. They provide no APIs or any method for individuals to programmatically entry their account. Ignoring the extraordinarily fundamental automated investing, which lets you purchase a specific amount of a inventory every week, there is no such thing as a strategy to automate your funding selections.
Furthermore, performing monetary analysis within the Robinhood app is sort of inconceivable. Robinhood solely offers fundamental search performance. For instance, you may search by shares with the largest % change in a day or shares that just lately hit 52 week highs.
In my view, this restricted search performance doesn’t encourage sensible decision-making, however somewhat impulse shopping for primarily based on latest developments.
In distinction, NexusTrade offers a method for customers to carry out in-depth monetary analysis in an easy-to-use person interface. Customers can merely speak to an AI-Powered agent to investigate any firm’s monetary statements inside the previous 5 years.
This can be a significantly better method of analyzing totally different shares. Customers can select to investigate a myriad of various corporations and see which of them are worthwhile and rising. This permits buyers to make extra knowledgeable monetary selections.
Composor might be NexusTrade’s largest competitor. It’s a highly effective, no-code platform that lets customers create algorithmic buying and selling methods. Like NexusTrade, they provide an AI-Powered Chat that permits non-technical customers to craft their methods (referred to as symphonies) inside the UI. Additionally they provide a reasonably sturdy no-code technique builder.
Whereas each NexusTrade and Composor provide a strategy to create automated buying and selling methods, the strategy between the 2 platforms is totally different. In composor, you are inclined to create a portfolio “basket”. The weightings of the totally different belongings in your portfolio can change, however you don’t appear to have the flexibleness to buy a specific amount of your portfolio in a specific asset.
For instance, in Composor, I couldn’t work out tips on how to categorical the next technique within the platform:
Purchase 8% of your portfolio worth in QQQ if SPY’s worth — 0.3 * 7-Day SPY SD ≤ QQQ’s worth — 1.2 * 30 day QQQ SD
NexusTrade’s focus is on giving customers most configurability: the power to create no matter technique their hearts need. Composor appears to prioritize simplicity and ease-of-use, which isn’t in any respect a nasty factor.
Furthermore, Composor doesn’t provide a strategy to optimize their “symphonies” primarily based on historic knowledge. In distinction, NexusTrade provides a genetic optimization engine built-in inside the platform.
There are just a few honorable mentions that I needed to omit with a purpose to hold this text transient. One is Pluto, one other AI-Powered investing platform that includes a somewhat sturdy AI-Chat. Pluto permits customers to carry out monetary analysis, create automated methods, schedule immediate emails, and even sync your totally different brokerage accounts onto one platform.
Whereas Pluto is pretty complete and provides some fairly attention-grabbing options, it nonetheless doesn’t match NexusTrade’s configurability and uncooked energy. NexusTrade permits customers to create methods with over 30 technical indicators, and permits customers to mix indicators to create much more subtle customized constructing blocks. Customers may also mix totally different buying and selling circumstances to create distinctive, custom-made buying and selling guidelines.
Apart from Pluto, another honorable mentions embody the normal brokerage functions: TD Ameritrade, E*Commerce, Webull, and Constancy. Like Robinhood, none of those platforms provide any quantity of automated buying and selling capabilities or the power to carry out monetary analysis.
Whereas I’m very impressed and pleased with how far NexusTrade has come, there are a variety of issues that it merely can’t do. An important factor is performing any kind of real-world buying and selling with precise cash. At present, NexusTrade is a paper-trading platform, and permits you to see how effectively your portfolios would’ve carried out with actual cash. That is by design — as a person with a full-time job, providing real-world buying and selling is extraordinarily dangerous and topic to plenty of legal guidelines and rules. I must be full-time with NexusTrade with a purpose to permit my customers to have that performance.
Moreover, NexusTrade can’t at present commerce belongings apart from shares. Whereas cryptocurrency buying and selling is on the roadmap and anticipated to be finished by February 1st, 2024, different asset courses like futures and choices should not at present being developed. This makes NexusTrade not as helpful for individuals seeking to commerce these belongings. In the future, I hope to unravel this downside, and make NexusTrade a platform that may commerce each kind of asset class on the market.
For a software program system developed by one individual, NexusTrade is pretty spectacular, modern, and highly effective. Customers can carry out monetary analysis and deploy totally automated buying and selling methods in a easy, easy-to-use UI. Even the perfect brokerages on the earth, like Robinhood, can’t declare to have the ability to try this.
I’ll proceed creating NexusTrade to turn out to be the perfect buying and selling platform that the world has ever seen. In the future, I could command a workforce, which might exponentially enhance the variety of new options which might be built-in into the platform. Like Linux which now instructions a complete group of builders, I hope that in the future, NexusTrade will turn out to be the cornerstone of recent buying and selling platforms.
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