RetailAgent: Structured Adverse Timing in Self-Conditioned Multimodal LLM Trading Agents
On the map: LLM agents and tool use → Financial trading and forecasting agents
Abstract (arXiv)
In financial markets, a sequential policy that reacts systematically to price movements may become predictable to other market participants. This paper studies whether large language model (LLM) agents exhibit such directional structure through RetailAgent, an experimental framework in which an LLM observes anonymized intraday equity price histories and permitted state, then repeatedly chooses long (hold the stock) or flat (stay out) before the subsequent interval return is revealed. We compare returns during long and flat intervals along the same stock's intraday path after removing the overall fraction of long decisions. This exposure-matched measure reveals persistent negative timing across modality, horizon, state, and model family. Shuffling saved action sequences substantially attenuates the effect, showing that alignment between actions and subsequent returns drives the negative score. Feeding self-authored memories into decisions further increases policy persistence, while timing becomes more negative among stock-days on which the agent uses both actions. These results reveal stable, recoverable directional structure in sequential LLM financial decisions and a behavioral signal for studying how another participant could respond to a predictable policy.
Key facts. No citing papers in the map yet (data through 14 Oct 2026). Placed in Financial trading and forecasting agents, one of 16 directions in LLM agents and tool use. Builds on 23 of its 39 references that are in the map. First posted on arXiv 28 Aug 2026.
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23 of 39 references.
Closest ancestors · 4
Same direction, newest first
- 2025FinSearchComp: Towards a Realistic, Expert-Level Evaluation of Financial Search and Reasoning16 Sep
- 2024TradingAgents: Multi-Agents LLM Financial Trading Framework28 Dec
- 2024FinCon: A Synthesized LLM Multi-Agent System with Conceptual Verbal Reinforcement for Enhanced Financial Decision Making9 Jul
- 2023FinMem: A Performance-Enhanced LLM Trading Agent with Layered Memory and Character Design23 Nov
Other references · 19
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- 2023Generative Agents: Interactive Simulacra of Human Behaviorcited by 3,568
- 2025Qwen3-VL Technical Reportcited by 2,793
- 2013Estimating or Propagating Gradients Through Stochastic Neurons for Conditional Computationcited by 2,079
- 2023AgentBench: Evaluating LLMs as Agentscited by 1,267
- 2021VICReg: Variance-Invariance-Covariance Regularization for Self-Supervised Learningcited by 1,057
- 2023BloombergGPT: A Large Language Model for Financecited by 939
- 2022Out of One, Many: Using Language Models to Simulate Human Samplescited by 752
- 2022Using Large Language Models to Simulate Multiple Humans and Replicate Human Subject Studiescited by 515
7 more
- 2024FinBen: A Holistic Financial Benchmark for Large Language Modelscited by 141
- 2024Cooperate or Collapse: Emergence of Sustainable Cooperation in a Society of LLM Agentscited by 125
- 2023FinGPT: Democratizing Internet-scale Data for Financial Large Language Modelscited by 67
- 2025SimBench: Benchmarking the Ability of Large Language Models to Simulate Human Behaviorscited by 52
- 2023FinanceMath: Knowledge-Intensive Math Reasoning in Finance Domainscited by 40
- 2023BizBench: A Quantitative Reasoning Benchmark for Business and Financecited by 28
- 2025Reasoning on Time-Series for Financial Technical Analysiscited by 5
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