# PROJECT_STATE.md — trading-agent

## Current Status

Initial project shell created. No application code exists yet.

## Objective

Build a financial research and simulation agent with strict anti-leakage rules before any live trading capability.

## Durable Rules

- No real trading at the start.
- No automatic financial advice without disclaimer.
- Walk-forward backtests only.
- `available_at <= prediction_time`.
- News storage is metadata-first.
- Labels are separated from features.

## Known Risks

- Look-ahead bias from future prices or news.
- Survivorship bias from current index constituents.
- Accidental storage of copyrighted full articles.
- Overfitting strategy logic before data quality is proven.

## Next Priorities

- T-001 Create trading-agent skeleton.
- Define data schema with availability timestamps.
- Define walk-forward backtest harness.

## Recent Task Reports

- None yet.