As a beginner investor, having the right artificial intelligence (ai) tools can greatly help in making investment decisions. Some useful free ai tools for beginners include backtesting frameworks like Backtrader and Zipline which allow testing trading strategies on historical data. Open source machine learning libraries like TensorFlow Quant and FinRL are also very valuable for building algorithmic trading models. In addition, open data platforms like Quandl and Intrinio provide free access to financial datasets that are crucial for strategy development and testing. By leveraging such ai tools, beginners can systematically develop and validate investing ideas without commitment of real capital.
Backtrader and Zipline enable backtesting trading systems
Backtrader and Zipline are two of the most popular free and open-source backtesting frameworks for Python. They allow simulating the performance of quantitative trading strategies on historical market data, providing key insights into expected returns, risks, drawdowns, etc. This is invaluable to refine strategy logic before applying real money. Both libraries have extensive documentation and active communities to help beginners get started.
TensorFlow Quant and FinRL facilitate machine learning strategies
For beginners interested in using machine learning for investing, TensorFlow Quant and FinRL are two excellent starter libraries. They provide implementations of state-of-the-art deep learning models tailored for financial analysis, including LSTM networks, convolutional networks, reinforcement learning agents, etc. With ample tutorials and examples, these libraries allow beginners to quickly build and evaluate AI-based strategies.
Quandl and Intrinio offer free access to financial data
High quality market data is essential for developing and backtesting quant strategies. Quandl and Intrinio are two platforms that provide free access to historical stock prices, fundamentals data, economic indicators and more. This allows beginners to focus efforts on strategy logic rather than data collection and cleaning.
By utilizing open-source ai tools like Backtrader, Zipline, TensorFlow Quant and access to free datasets, investing beginners can systematically develop machine learning and quantitative trading strategies without commitment of capital.