
Apply HN: Wevest – Replicate Trades Experts Make to Increase Success in Stocks - jtouri
Wevest connects people to invest together and smarter. It allows you to replicate trades made by experts so people can skip the whole trial and error in the stock market. Once you attach your assets to an expert, it is all automated from there. When the trader you follow sells, you sell, all in real time.
Unlike betterment, where they focus on long - term growth and competes with banks and mutual funds, our competitive edge goes by giving tools for a more aggressive investing approach by leveraging expertise of others.
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camreynoldson
Modern online brokers already have the option to "mirror" another trader's
trades (i.e. I say "I want to copy this person" and I make every trade they
do, at the same time). How will you compete with these?

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abhi3
Doesn't Instavest (YC funded) do the exact same thing?

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camreynoldson
Yeah, I believe so.

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wehadfun
What prevents Wevest from being used by trade experts as a way to scam people?
It would be like giving these pump and dump people access to your Ameritrade
account. They will have 2 accounts. Their real account and their Wevest
account. Buy a stock for $1 with real account then use their we vest account
to but the same stock. The price will go up. Then sell the stock in the real
account.

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bestattack
I can see that there might be demand for this, although I would not recommend
this app to my friends so that's a bad sign. I fear that casual people trade
stocks for certain reasons - only one of which is to make money. In
particular, I think a lot of people trade stocks because they have certain
hypotheses about the world / markets and they want to test them out or be able
to talk about them. Even people who invest in index funds have strong beliefs
about which index funds are best. I guess you can tap into the "which managers
are best", kind of, but it doesn't seem as appealing for some reason.

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dputtick
This is an interesting idea - a few questions that come to mind:

How do you plan to acquire your trading data? Public filings? Experts
voluntarily sharing their portfolios?

What type of experts do you envision being on your platform? Jim Cramer type
CNBC personalities? Hedge fund managers?

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jtouri
We plan on using Tradier brokerage with the Tradier api.

In terms of envisioning, it would be more Jim Cramer type that would be more
interested in this over Hedge Fund Managers, in an honest opinion.

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Snowalker
etoro?

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jtouri
Etoro you are able to see other portfolios, through payment. We are also
mobile first and we use machine learning to develop a system that eases mirror
trading and creates a better experience for these novice traders

