Just like everyone else I want to find a way to use these Reddit scrapers to actually make some money. Since I'm a data nerd I track any that I can and analyze their hit rate, profitability, etc. I was using Unbias very successfully and making good money until it stopped updating (see original post here)
Since then I have been tracking 3 scrapers and 1 methodology I saw here:
- Millenial Bets
- Hype Rider
- Dayminer
- Using Finviz to see if buying the biggest losers of the day and selling the next morning for a 1% profit would work
Fair warning: Google Sheets struggles with large amounts of data and a lot of people logging in, so I created multiples of each spreadsheet. If you have trouble getting in all I can recommend is continuing to try. If you do, make a copy for yourself.
Summaries:
- Easiest to gather data: Millenial Bets. This is a straight copy/paste. The others required a lot of Excel copy, pasting, sorting, etc to get it to fit into the sheets
- Best average returns: Millenial Bets. This may be because they had the biggest quantity of results. It's hard to narrow this down to just a few tickers to buy, so looks good as a paper trader but hard to put into use in the real world
- Best at returning a small list of tickers to buy: Dayminer. This data narrows down to just a few, or sometimes none, per day. But the ones that do hit tend to hit pretty consistently
End Results from tracking the data: (When paper trading I chose categories that had a % of Profitable vs Non-Profitable returns of greater than 90%. I was aiming for highest success rate of being profitable)
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Millenial Bets:
- Total data points: 5573
- Number of paper trades: 2212
- % return (avg): 11.44%
- % return (max): 50%
- # of days to max profit (avg): 6
-
Hype Rider:
- Total data points: 5425
- Number of paper trades: 714
- % return (avg): 7.03%
- % return (max): 13.19%
- # of days to max profit (avg): 4
-
Dayminer:
- Total data points: 5111
- Number of paper trades: 278
- % return (avg): 8.67%
- % return (max): 29.77%
- # of days to max profit (avg): 5
How do I use this data? This is the question I get asked the most often. Here's what I do:
- Every morning before market open I copy the data from the scrapers, do whatever post-processing I need to do to get it to fit into the sheets, then paste into the sheets. This captures all the sentiment data from the last 24 hours
- When I'm ready to buy something I look at the highest profitability categories in the data crunching tabs
- From there I narrow down THAT DAY'S list of tickers based on the highest profitability categories
- I'll do a quick search on Reddit to see if overall sentiment is bullish or bearish. If everyone looks hopeful I'll buy
- I look at the average % returns and the average number of days to get there and those are my exit points
Now, on to the good stuff. Here are the links:
Millenial Bets: Screen shots of the tables | Data (1) | Data (2) | Data (3)
Hype Rider: Screen shots of the tables | Data (1) | Data (2) | Data (3)
Dayminer: Screen shots of tables | Data (1) | Data (2) | Data (3)
Finviz All Time Low data: Screen shots of the tables | Data (1)| Data (2) | Data (3) (Nothing really clear came of this data so I didn't highlight it in the post)
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