So I'm in the process of building an automated (yes.. AI.. haha) trading software that uses news sentiment, technical analysis, analyst insights, maybe some of the trade groups (not discord), so any thoughts or recommendations on APIs to pull in: 1. News articles on stocks; to obtain sentiment 2. Technical analysis (I'm thinking Polygon so far) 3. Any products that give trade suggestions? (TradeMachine? I haven't looked at yet - but similar to those Discord groups, any groups that give buy and sell signals via API or text or something easy to read?) 4. Any other products that help give suggestions/ideas or sentiment on the direction of stocks... I looked at FinBrain years ago, etc.. 5. Best automated brokerages... thinking Tradier or Tradestation, although I know Lightspeed is heavy on this site Also, any thoughts on which AI would be best suited to assess everything and price competitive... Open AI o3, Deep Seek (ya.. I know), Claude, Gemini, etc?? So suggestions on good products with API to tap into to make a robust automated trading tool would be great, thanks!!
1. News are useless. To get the market sentiment you have to speak to brokers. It is called "Payment for Order Flow" 2. Available technical analysis is useless. You have to build your own indicators. 5. These days all brokers that have an API do the job fairly well. So it is all about commissions. Do not trust AI to trade. They all are at a Beta stage. They make up references and text whenever they want. Check for AI hallucinations.
How do you train the AI? And how often? That's the question that occurred to me after reading your post. The training and automatic backtesting are definitely necessary. Otherwise the trading strategy won't have a future. AI is only as good as the data it is fed.
Thanks - in what capacity would you use OpenBB for this type of project? What tasks would you use it for, etc?
I would have it what historical stocks and options over the last 2 years and to correlate with news articles for each stock along with announcements per stock, industry and macro level and have it track technical analysis, etc... there are patterns, although they aren't always going to end up the same, but potentially can use it to see if it can semi-predict the movement of stocks/options to have a high success rate. Watching also gap ups/gap downs, etc... who knows.. it may have some success or may not. Any other suggestions on what to incorporate would be helpful.
So Payment for Order Flow.. is there anyway to capture that data from any sources via API or would RSI come close to identifying the trends? Thoughts on this?