Available at: https://www.profly.app/
Stack: Python, Django, React, AWS (Cognito), DigitalOcean (Host)
(By the way, if you wish to host some app or blog I recommend Digital Ocean. It's very easy to use and this blog you're reading right now is hosted there. Subscribe here to earn $100 in credit to get started).
The purpose is to track how much I invested in which stocks (USA and Brazil) and track my emotions as I take actions so I can finetune my decisions, understand why I did what I did, and ultimately learn from my own mistakes.
During my company's recess I got very humbled and inspired by Linus projects and couldn't stop thinking about something he said (extracted from https://thesephist.com/posts/tools/):
My biggest benefit from writing my own tool set is that I can build the tools that exactly conform to my workflows, rather than constructing my workflows around the tools available to me.
I finally decided to do it myself, I hate using google sheets and I was using it for the whole last year, it's just not good enough - then I wanted to create something a bit better myself.
The dream app would be able to:
- Get current stock strike price;
- Add/delete transactions;
- Show a chart telling me WHEN I bought/sold it;
- Document what I felt when I bought/sold;
- Export my data easy as CSV;
The flow works fine, see:
Tools and frameworks
In the end, I've used yfinance lib (which scraps data from Yahoo) to capture prices, charts, and data from tickers with no cost! I considered a few other APIs like https://finnhub.io/ but I wasn't looking into paying for something at this stage. Also, some APIs I found had constraints/complex usage to capture stock data from Brazil.
For the tools, I decided to use Django with Graphene (the fastest way I know to get an API started), I created the React from this boilerplate, used material-ui to have some basic components (because I suck at design), and Recharts to display the data.
I wanted to allow multiple users to use the app which means I have to implement a login/signup flow. Again, I didn't want to waste time with such things that won't add value to the "product" (?) so I ended up using AWS Cognito and its Amplify lib.
I got something working in time. For sure buggy and with questionable quality, but still a valid MVP made in just (approximately) 2 weeks.
My time was short. I got less than a month to develop it before I got back to my work (which consumes a lot of time from me), alas, I had to make decisions that I'm not really proud of and which my own team would complain if I were doing it on a company project 🙈. So, due to the ridiculously small timeline to build something I had to:
- Prove the idea works ASAP;
- Don't refactor;
- Don't write tests;
- Ignore several good practices;
Although painful (I love code quality 😢), I had to sacrifice quality and effort invested in tests to best use the time available for me. In that sense, I don't regret it at all. As I read in The Lean Startup: most of the time you can validate an idea with fewer features and even with bugs.
I'm still not completely happy though. I miss websockets, handling differences between currencies (USD and BRL), availability as an Android App, and I would love to track other investment options like crypto and fixed income.
If you're curious about the steps I had to take, feel free to look into my Twitter, you can see the initial skeleton and how much I suck at design 😂
Rationale (with real examples from myself)
Ok. Let me show you how it would help me improve my rational thinking in the short and mid-term.
🇺🇸 USA scenario: GME
(Please ignore the "R$", the app is not displaying the correct currency. The values are in USD)
Yes, I was one of the retards who bought GME stocks at the highest price. Laugh at me and see:
What I personally love about this view are two things:
- I can see at exactly which moment in the chart I bought/sold it (green for buy and red for sell);
- I can see what I felt when I took both decisions. I clearly was laughing and having fun with memes on r/wallstreetbets. When I had to sell, as you can see, I didn't think it was fun anymore.
When I see it and analyze I can see how inconsistent I am. If I bought if for fun, why did I get scared when it dropped? If it was too much for me, why did I risk so much?
Thinking more deeply, I guess it was a mix of FOMO and a willingness to be part of something. I couldn't stop laughing about the idea of a small group auto-declared retards buying stocks to provoke a short-squeeze in big hedge funds 🤷.
As soon as I saw the big drop on Monday (I bought it on Friday) I felt really stupid. I could have invested in anything else that I honestly believed instead of venturing myself in a "joke".
🇧🇷 Brazil scenario: AZUL4
After reading some news in 2019 (pre COVID) I thought it would be a good opportunity to invest in an airline company (poor me), see in the chart as follows:
When I look at it I feel incredibly dumb (even more for exposing it in public 😂). But it allows me to understand better how I think and how my emotions have been driving some decisions.
- On 2019 I thought R$ 50 was a good price;
- On March 2020 (just when the pandemic happened) I thought it would be a good opportunity to buy more, then I did it for R$ 13,92;
- On November 2020 I got nervous (probably due to the great amount of bad news I was reading regarding traveling and countries closing flights from other places) and felt selling at R$ 22,70 would be a good decision;
Honestly, looking at it now from far without being attached to my ego (charts and data don't have feelings, right?), I don't think it was a smart decision.
Given this app is open and free, I hope to start using it to learn what the heck I am doing with my money. Although I never lost an incredible, unrecoverable amount of money, I'm clearly making terrible and inconsistent decisions.
Every emotion that drives a decision, is a bad one. Decisions should be taken based on rationality and deep thought, not silly and temporary emotions.
So I would like to finish with a quote from @naval:
Hi there! Are you enjoying what you're reading? If you do, you can be the first to know when I post cool stuff!