# TradingMoE: Routing the Right Experts in Evolving Markets

arXiv: https://arxiv.org/abs/2608.11785 · HTML: https://mlsanity.com/paper/2608.11785/

## Key facts

- No citing papers in the map yet (data through 14 Oct 2026).
- Placed in MoE for time series and graphs, one of 12 directions in Mixture-of-experts.
- Builds on 12 of its 60 references that are in the map.
- First posted on arXiv 12 Aug 2026.

## Placed in

- Mixture-of-experts / [MoE for time series and graphs](https://mlsanity.com/moe/moe-for-time-series-and-graphs/)

## Builds on (most cited first, 12 of 12)

- [Empirical Evaluation of Gated Recurrent Neural Networks on Sequence Modeling](https://mlsanity.com/paper/1412.3555/) (2014)
- [Mixtral of Experts](https://mlsanity.com/paper/2401.04088/) (2024)
- [DeepSeek-V2: A Strong, Economical, and Efficient Mixture-of-Experts Language Model](https://mlsanity.com/paper/2405.04434/) (2024)
- [DeepSeek-V4: Towards Highly Efficient Million-Token Context Intelligence](https://mlsanity.com/paper/2606.19348/) (2026)
- [BloombergGPT: A Large Language Model for Finance](https://mlsanity.com/paper/2303.17564/) (2023)
- [FinGPT: Open-Source Financial Large Language Models](https://mlsanity.com/paper/2306.06031/) (2023)
- [TradingAgents: Multi-Agents LLM Financial Trading Framework](https://mlsanity.com/paper/2412.20138/) (2024)
- [A Deep Reinforcement Learning Framework for the Financial Portfolio Management Problem](https://mlsanity.com/paper/1706.10059/) (2017)
- [HIST: A Graph-based Framework for Stock Trend Forecasting via Mining Concept-Oriented Shared Information](https://mlsanity.com/paper/2110.13716/) (2021)
- [Integrating Stock Features and Global Information via Large Language Models for Enhanced Stock Return Prediction](https://mlsanity.com/paper/2310.05627/) (2023)
- [TradExpert: Revolutionizing Trading with Mixture of Expert LLMs](https://mlsanity.com/paper/2411.00782/) (2024)
- [LLM-Based Routing in Mixture of Experts: A Novel Framework for Trading](https://mlsanity.com/paper/2501.09636/) (2025)

## Abstract (arXiv)

Large language models (LLMs) have shown strong potential for financial analysis and trading, but direct trading remains challenging because the predictive capabilities required can vary across assets, decision fields, and market conditions. Existing LLM-based trading systems either coordinate human-defined external experts or adopt conventional internal Mixture-of-Experts (MoE) routers that do not directly evaluate how individual experts contribute to trading decisions. Moreover, these routers receive no direct signal indicating when an inactive expert has become more suitable as market conditions change. We find that native router scores poorly reflect how much individual experts improve trading decisions, frequently leaving better alternatives unselected. We further reveal that token-specific expert usefulness exhibits a compact low-dimensional structure. Based on these findings, we propose TradingMoE, a trading-oriented sparse MoE that augments a frozen dense LLM with lightweight residual experts. We introduce a Query-Key router that represents the expertise required by each token under the current market context as a low-dimensional query and matches it with learnable expert keys. We further propose a sparse expert selection update mechanism that samples a few inactive experts during training and estimates whether they should replace the weakest expert in the current Top-k route. This mechanism enables the router to update expert selection as market conditions change while preserving sparse computation. Experiments against 22 baselines on stock and cryptocurrency markets show that TradingMoE improves cumulative return over the best-performing baselines by 30.89% and 30.7%, respectively. Rolling paper-trading experiments further demonstrate that its advantage persists under forward-only deployment.