Building a social investment app and am looking for some dope ideas to include in the app

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Sup guys. So need some input on this big project I recently am a part of and hoping the community can give me some new ideas.

So the idea stems from the fact that like almost every investor out there is in some sort of group chat, group me, or discussion board talking about stock picks, but there is no platform that allows you to actually follow and track the trades of your friends or family. Twitter and discord are clear examples of what I am referring to. 

So I am now part of a team building an investment app that is trying to solve this. It currently allows you to follow and track your friends trades/positions all in real time. It also lets you see the actual portfolio investments and returns of your friends based on percentages (no more of the only disclosing your winners in the finance group me's lol) Later on down the line we hope to get pick off some of those highly followed twitter investors and create a way for the every day investor like me to get insight and access to what he/she is trading all in real time. Pretty much creating a more informed typical retail investor.

We are thinking of adding more features like anonymous leaderboards based on demographics, verified accounts, discussion boards, & private group chats. Anyone have any other ideas of what they would wanna see from an app?

Pretty much describe to me what your ideal social investment app would do and what you would not want it to do. 

Any input would be very appreciated! Quit my full time job for this because I really do believe in the idea.

Thanks!

Comments (15)

 
Most Helpful
Sep 14, 2020 - 7:26pm

the best idea would be for people to indicate on the app where their stop-order is ...where would they buy to cover their short when wrong (and vice versa)...and then make that info available to the crowd via a volume profile chart (actually connect the app to their broker so these are real stop orders).

 

So, for example...if  AAPL is trading at 120 and you are short 1000 shares...if AAPL trades up to 130 you would be down $10,000 unrealized...and thats is your max pain threshold for being short...so you put in a market buy stop order if market touches 130 or above, to buy 1000 shares

 

Then aggregate all these stop orders from every member of the app, so that people can see where other people have their stop orders, weighted by volume

 

in order to see the aggregated info from everybody else, you would have to connect your real brokerage account (i would argue that you would need to connect ALL your trading accounts, so people won't cheat...tho not sure how to accomplish that....connect to all the retail platforms via name and social security number,  Robinhood, Schwab, Ameritrade, Fidelity, etc..).

 

this info would be GOLD

 

Citadel and the other large HFT firms already have this information because they purchas the orderflow to execute the orders for the retail brokers...so this would "democratize" the information to everybody else

 
Sep 14, 2020 - 7:57pm

Ah brilliant haven't even thought about the possibility of incorporating stop loss/limit orders into the equation here. If we were to make these public as well, the user following the account would not only have a better idea of the risk associated with the trade but also will know what to do to help limit his own losses if he/she makes the trade. I will look into the possibility of it as it may be an upgrade to what we currently have going on as we finish up on the initial features planned.

 

We also have had discussions on the possibility of only connecting certain accounts and frankly have not been able to come up with a solution just yet. As of now, we allow the user to connect any brokerage he desires to share. So if he connects a robinhood one but not a fidelity one, I do see where this would cause complications with the transparent platform we are working to create.

Thanks for the input I will note these and share with my team.

 
Sep 14, 2020 - 7:40pm

I'm sorry but I don't think the world needs this kind of functionality.

We don't want to see more clueless retail investors getting screwed by the market because they listen to other clueless retail investors getting screwed. r/wallstreetbets is already too much of a cesspool. 

Financial Data Science
 
Sep 14, 2020 - 7:51pm

Completely agree with this which is why we are going to try to bring on a panel of licensed/professional traders and successful bankers to help steer us in the right ethical direction. We also do visualize this app as a possible way for these "clueless retail investors" to become more informed and clued in. If they see how real investors make their successful and responsible trades in real time, we would hope that they would begin to learn from this to at least become a more "informed" investor.

 
Sep 14, 2020 - 8:23pm

Makes sense. I think what you described would perhaps be the key differentiator and even where most of the value comes from.

But you'd probably want to move fast and keep tabs on what's happening in the space. I know for a fact that lots of big wigs in finance are thinking about moving into this space (or they already might be). Not to mention that there might be plenty of entrepreneurs. Robinhood is definitely moving into this space.

If I were you, I'd really think about where I want to position myself at.

Financial Data Science
 
Sep 14, 2020 - 7:57pm

tradingview.com already has most of what you have initially described...however, my stop order aggregation summary is something that nobody has.  if you can convince people to connect their other retail trading accounts (read only mode), and automatically read their stop orders into the system aggregation....that would be fucking amazing.

 

as an active trader myself...i search for locations where there is a high probability of a cluster of stop orders....so having this actual information would be like a license to steal (something that Citadel already has).  I wouldn't care about the stop orders from just one person...i want to see the stop orders of EVERYBODY, aggregated

 
Sep 14, 2020 - 10:22pm

Got it got it. So you see the great value in not necessarily where the individual orders lie  but would rather see where the sum of all the different individuals' orders lie. Neat point and I believe this should be possible (will have to check with our high end developers). And in doing so here you would be able to make more informed trading decisions because you have a better idea of where large amounts of stop orders are on a specific stock?

 
Sep 14, 2020 - 10:38pm

yes, imagine a volume profile chart aligned to the right side of the chart...but in this case, the volume comes from stop orders, which have not yet executed.

 

the stop orders from any 1 individual trader has little to no value....but the aggregation of all the stop orders from ALL the traders....that would have tremendous value.

 

Take the example from above...imagine is 5,000 traders all have buy-stop orders of 1,000 shares each, set at the price of 134....and then imagine APPL slowly trades up to 133.99  Imagine that AAPL only has 5,000 shares on the bid and offer at any one time.  When all those sto porders get triggered....wammo

Just one more tick higher and all those 134 buy-stop market orders will get triggered...which will most likely propel the stock much higher, in that instant (whats called a short squeeze).

 
Sep 16, 2020 - 4:52pm

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