As pretraining scaling laws approach saturation, Test-Time Scaling (TTS) has emerged as an important direction for improving reasoning by allocating inference-time compute to a fixed model prior. Viewed at a high level, TTS reframes inference as search over a space of partial reasoning states. While Chain-of-Thought (CoT) exposes intermediate steps, common instantiations rely on single-trajectory decoding, limiting recovery from early errors and exploration. This survey systematizes recent progress in tree-search-based reasoning, viewing inference as instance-specific optimization rather than decoding. We trace the evolution from uninformed search to Monte Carlo Tree Search (MCTS), highlighting how sampling-based control supports principled exploration–exploitation trade-offs. To unify a fragmented literature, we introduce a Unified Design Space spanning search topology, evaluation signals, and control dynamics, and advocate a standardized compute-reporting abstraction to make compute–accuracy trade-offs explicit and comparable.

Large language models (LLMs) have demonstrated strong capabilities in financial analysis and reasoning, inspiring recent advances in agent-based trading frameworks. While these systems show promise, prior approaches either emphasize long-horizon forecasting or operate as stateless analyzers, limiting their applicability to the demands of trading in complicated settings. To address these gaps, we introduce META (Memory Enhanced Trading Agent), the first RAG-like episodic-memory-augmented multi-agent framework for financial decision making. META integrates a family of specialized indicator agents (e.g., Trend, MACD, Stochastic, RSI, SMA, AVWAP, Heikin-Ashi) with a Decision Agent that fuses their reports, and a Memory module that retrieves and updates past trading episodes encoded as market state embeddings with outcomes and reflections. By recalling relevant experiences and adaptively reweighting signals under similar market regimes, META achieves improved directional accuracy and robustness under short-horizon evaluation. Our results demonstrate that episodic memory provides a powerful mechanism for regime-aware, interpretable, and low-latency decision-making in trading and decision making. Code of this project is released at GitHub.