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Hello!
I really like the new chat room layout and i have noticed that now it is possible to link myfxbook account, which is great
And here is the suggestion, which would increase the reputation and trustworthy of the trading ideas and site by itself.
Only people with at least 3 months of track record on live account and verified myfxbook could be able to share ideas.
By this we could really cut the noise.... Honestly who trade all these ideas? I personally believe that there is no value to the traders who want to copy these ideas, they just might get confused.
I believe also that it is better to focus on quality over the quantity. Having for example 10 verified traders who post their ideas is much more appealing to the crowd then ideas from XY unknown "traders".
This 500$ award encouraged people who just want 500$ and don't care much about the efficency of the setup. The first sign is that no verified or older members is actually participating anymore and sharing ideas, because his signal would be just one of the many ideas from unknown people. I would really love to share end of the day trading signals and deep explanation which i have done it already few times but because of so much noise i believe people don't care about it and it has no value to them, they are confused i believe. Why? Because traders who really trade live, don't waste time with sharing ideas for free with 90% of demo traders, no sense....., but on the other side people who don't trade live, don't have anything smarter to do and post a lot, because they just want that 500$. See the attitude behind?
Honestly i don't know who have got an idea that anyone can post trading ideas. 90% of the people fail in trading and why would we consciously bring this 90% right into this chat room. Isn't the job of a leader to cut the noise and seperate good trader from rocky demo trader?
And these 1500$ per month from IC markets could be a little reward which would be spread among these verified traders. I believe that competition and collecting thanks is not appropriate for trading in this case. Because traders subconsciously share more and are looking for opportunities which might not even be in their trading plan if they have it at all. Thanks are great but not as a virtual value...
So to recap :
- Minimum track record is 3 months (+ short interview with trader)
- Live trading account
- Reward verified traders equaly otherwise they will not be willing to share ideas (waste of time for them)(minimum requirement is 1 trade per week for example, understand swing traders, maybe you can require a little bit in depth analysis on picture from these verified traders. Maybe also VIDEO TRADING IDEAS in a future?, this is a good one
...) (don't make it competition, trading is not like that....trading = emotions....competition = emotions/rush...no go no go!
Benefits of new model :
- Better reputation of the site and chat room (verified traders)
- More people would actually copy ideas (cuz of trust) trough your recommended brokers, mean more commissions
- Traders who are looking for help on site would left site more educated, because of detailed analysis = more value = your goal right?, reduced confusion
Cons?
- Many rocky traders could leave because they would not be in game for 500$, but you don't have anything valuable from them Nick, most of them don't trade live at all (so this could be a benefit as well
)
Let me know what do you think guys!
CUT THE NOISE!
Marjan Rijavec / FX Protector / Forex Swing Traders
I really like the new chat room layout and i have noticed that now it is possible to link myfxbook account, which is great
And here is the suggestion, which would increase the reputation and trustworthy of the trading ideas and site by itself.
Only people with at least 3 months of track record on live account and verified myfxbook could be able to share ideas.
By this we could really cut the noise.... Honestly who trade all these ideas? I personally believe that there is no value to the traders who want to copy these ideas, they just might get confused.
I believe also that it is better to focus on quality over the quantity. Having for example 10 verified traders who post their ideas is much more appealing to the crowd then ideas from XY unknown "traders".
This 500$ award encouraged people who just want 500$ and don't care much about the efficency of the setup. The first sign is that no verified or older members is actually participating anymore and sharing ideas, because his signal would be just one of the many ideas from unknown people. I would really love to share end of the day trading signals and deep explanation which i have done it already few times but because of so much noise i believe people don't care about it and it has no value to them, they are confused i believe. Why? Because traders who really trade live, don't waste time with sharing ideas for free with 90% of demo traders, no sense....., but on the other side people who don't trade live, don't have anything smarter to do and post a lot, because they just want that 500$. See the attitude behind?
Honestly i don't know who have got an idea that anyone can post trading ideas. 90% of the people fail in trading and why would we consciously bring this 90% right into this chat room. Isn't the job of a leader to cut the noise and seperate good trader from rocky demo trader?
And these 1500$ per month from IC markets could be a little reward which would be spread among these verified traders. I believe that competition and collecting thanks is not appropriate for trading in this case. Because traders subconsciously share more and are looking for opportunities which might not even be in their trading plan if they have it at all. Thanks are great but not as a virtual value...
So to recap :
- Minimum track record is 3 months (+ short interview with trader)
- Live trading account
- Reward verified traders equaly otherwise they will not be willing to share ideas (waste of time for them)(minimum requirement is 1 trade per week for example, understand swing traders, maybe you can require a little bit in depth analysis on picture from these verified traders. Maybe also VIDEO TRADING IDEAS in a future?, this is a good one
...) (don't make it competition, trading is not like that....trading = emotions....competition = emotions/rush...no go no go!Benefits of new model :
- Better reputation of the site and chat room (verified traders)
- More people would actually copy ideas (cuz of trust) trough your recommended brokers, mean more commissions
- Traders who are looking for help on site would left site more educated, because of detailed analysis = more value = your goal right?, reduced confusion
Cons?
- Many rocky traders could leave because they would not be in game for 500$, but you don't have anything valuable from them Nick, most of them don't trade live at all (so this could be a benefit as well
)Let me know what do you think guys!
CUT THE NOISE!
Marjan Rijavec / FX Protector / Forex Swing Traders
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