April 28th, 2017 05:04
It was a beautiful day in Boston and the view from Fidelity Investments 14th floor was stunning. Presenters were well prepared thanks to Fintech Sandbox’s detailed coaching and the energy was contagious. As the more than 300 audience members of financial professionals and enthusiasts piled into the presentation venue, the buzz and excitement was everywhere.
There were 7 companies presenting some awesome fintech products that were each unique. It was truly a thrill to witness the innovation and dedication all these entrepreneurs have for solving the world’s problems.
Alpaca was slated as the third company to present and I was honored to be introduced by Ryan Burdick, SVP Global Head of Sales for our data partner Xignite.
I started out asking the audience about their trading experience and the work they need to do to achieve their trading goals, including research, spreadsheets, chart reading etc.
While most members in the audience raised their hand to indicate they were traders, few of them do their own research work to determine what and when to trade.
I let the audience know that Alpaca does the immense amount of work needed to find trade ideas, so the trader doesn’t have to. It’s time consuming work, after all, and few of us have extra time on our hands.
Led by our CTO and cofounder, Hitoshi Harada, a database expert, we’ve built a deep learning engine with real-time streaming capability and minute level candle data
This technology allows our AI to learn from traders as they use our products.
Our initial offering, AlpacaAlgo, is a solution for professional traders where pros enter their past winning trades onto our platform and Alpaca’s AI learns them to generate the user’s own unique trading algo. We have over 30,000 algos built in the last year alone.
This technology is the core of our new product AlpacaScan for retail traders.
AlpacaScan, scans the entire U.S. stock market to curate trade ideas with quality buy/sell opportunities that are customized to your interests.
Our AI learns your interests by your choices including companies you like, indicators, or specific fundamentals and personalizes your list each day.
I then asked the audience how many in of them use their mobile phones for trading. Only two people raised their hands.
And yet, we’re a mobile first generation. We do everything on our smartphones! In fact, it’s estimated that mobile trading will grow by 30-40% in the next year alone.
But the mobile trading applications out there are clunky reworked versions of desktop trading platforms that use intimidating jargon and complicated data leaving the retail trader overwhelmed.
Our AI sends you daily customized trade idea stories with only the content you need to make a trade, in simple, conversational language, so you don’t feel intimidated. The stories are optimized for mobile so you can easily see everything you need to see right on your smartphone.
According to a study last year from the US National Library of Medicine, the average attention span in 2000 was 12 seconds but in 2015, it was just 8.25 seconds. That diminishing attention span is why our stories are strictly bite-size, so you can skim through the content easily.
Each story includes a full trading plan so you don’t have to wonder when to get in or out.
And, our AI monitors your stocks daily and notifies you about recommended updates to stop loss and target prices.
I then took the audience through a use case so they could see the journey a trader would take while using the AlpacaScan Mobile Stories. I have been writing about the stories for some time and we have been focused on building the App to support them. When I finished the presentation, the audience applauded and hooted and it was really great to see how attentive people were.
Presenters had a short amount of time to take our exhibit materials to our assigned tables in the cafe where the showcase was taking place. By the time I got to my table and started setting up, a line had formed in front of me. I started showing the app on my phone and computer. The questions kept coming and it was a couple of hours before it started to wind down and we headed to the after party.
The market is bullish. I will do another blog in the coming days with more details on what is going on but the long and short of it is…well, long!
Buoyed by French elections and our president talking about tax reform, SPY has taken the opportunity to put in some strong moves this week. The consolidation that has taken place over the the last two months are just that…consolidation before the next leg to the upside. Here is the chart.
I have been writing about our mobile stories for a while now so hopefully you know where to find them, but just in case you don’t and if you’d like to be one of our beta testers with early access, simply click this link AlpacaScan Mobile Stories | Alpaca.
The author, Danielle Spandau is a seasoned trader/investor and educator also known as The Trading Wife.
All information and/or opinions contained herein are impersonal, for informational purposes only, and do not constitute a solicitation or offer to sell securities or investment advisory services. The views and opinions expressed in this article are those only of the author(s) and do not necessarily reflect the opinions of Alpaca. If you are considering making an investment, you should consult with an investment professional.