Simulator with results tracking
- Thread starter JSSPMK
- Start date
Or even just publish your account balance chart.
There are thousands of calls being made every year, might as well have a tracker.
If you have a centralized admin to monitor and manage all of the trading, this would be easy to do and would keep everyone honest. Everyone who chirps about their trading would have a public facing blotter which would keep them honest. A trading competition would be very interesting within this public forum.
You can leverage the TD forum to share all your trades with others via Tools/mytrade then use Tools/Trade Feeds to monitor all the people that you are following.. But then that is only one broker and most of us use three or more so both you and the broker wont know what direction to squeeze us.....
I'm sure Baron has thought about this issue considering recommendations like this by members has been discussed dozens of times in other threads about the same topic.
I think he doesn't do it because it would be too much forum coding and may actually reduce readership for certain types of sponsors of the forum and could actually encourage some to go into the vendor business elsewhere if they show success here at the forum.
I remember another forum that did this a long time ago and I believe it was called ClearStation (now owned by silicon investor). You could click on any member's user name to see their "recommendations" (date, price) and it kept tabs on the performance including any exits.
That was a true "signal calling" site that allowed anyone to simulate trade the markets without even having an actual trading account. There were a few other sites like that but they have disappeared (died).
There were a few successful signal callers at these forums that eventually went into the vendor business (e.g. signal calling, book writers, freelance analyst).
I think he doesn't do it because it would be too much forum coding and may actually reduce readership for certain types of sponsors of the forum and could actually encourage some to go into the vendor business elsewhere if they show success here at the forum.
I remember another forum that did this a long time ago and I believe it was called ClearStation (now owned by silicon investor). You could click on any member's user name to see their "recommendations" (date, price) and it kept tabs on the performance including any exits.
That was a true "signal calling" site that allowed anyone to simulate trade the markets without even having an actual trading account. There were a few other sites like that but they have disappeared (died).
There were a few successful signal callers at these forums that eventually went into the vendor business (e.g. signal calling, book writers, freelance analyst).
Baron
ET Founder
Ok, I want to put this idea to bed in no uncertain terms.
Look, I get it. You want a system that verifies calls and builds track records so that the highest performing traders can be followed for the purpose of mimicking their trades.
Unfortunately, that system doesn't work in the real world so it's absolutely useless. A new trader will never be successful over the long term following the signals of someone else. As my 87 year-old mentor told me once: "Baron, never religiously follow the signals of anyone, because no matter who he is, he will eventually screw up bad and take you down in the process."
I've been running this website for almost 20 years now and I have had countless conversations with traders publicly and privately on this site, and also in person at loads of events. I have never had a single trader who had been trading successfully for years tell me that his success was because he followed the signals of someone else. Not a single person.
And as wrbtrader said a few posts back, there have already been plenty of sites in the past that have tried this. I remember ClearStation and some of the others and they were excellent sites. But there's a reason why they aren't around today. And it's because of what I just said. Following someone else's trades DOES NOT WORK over the long term. If it did work, these sites would have a sustainable business and be booming to this day.
In summary, traders don't need to follow signals. Traders need to learn how to think independently and develop their own trading models. It's the hard road but it's the only one that works.
Look, I get it. You want a system that verifies calls and builds track records so that the highest performing traders can be followed for the purpose of mimicking their trades.
Unfortunately, that system doesn't work in the real world so it's absolutely useless. A new trader will never be successful over the long term following the signals of someone else. As my 87 year-old mentor told me once: "Baron, never religiously follow the signals of anyone, because no matter who he is, he will eventually screw up bad and take you down in the process."
I've been running this website for almost 20 years now and I have had countless conversations with traders publicly and privately on this site, and also in person at loads of events. I have never had a single trader who had been trading successfully for years tell me that his success was because he followed the signals of someone else. Not a single person.
And as wrbtrader said a few posts back, there have already been plenty of sites in the past that have tried this. I remember ClearStation and some of the others and they were excellent sites. But there's a reason why they aren't around today. And it's because of what I just said. Following someone else's trades DOES NOT WORK over the long term. If it did work, these sites would have a sustainable business and be booming to this day.
In summary, traders don't need to follow signals. Traders need to learn how to think independently and develop their own trading models. It's the hard road but it's the only one that works.
Who in their right mind would follow somebody's trades anyway?
Are people really that stupid?!
I mean yeah.... if somebody throws a good stock out there for a long or short idea, do your DD and decide for yourself.... But I can personally say that anybody that follows any of the intraday or overnight option trades I post needs to have their head examined.
Why do I post em then?
In a way it helps me keep myself in check from making bad trades. It sucks f'ing up in front of peers.
Here's a better question...why do 3 Billion people/month spill their personal lives out on Facebook for the world to see when nobody f'ing cares? Now THATS stupid. Sign of the times I guess.
ET is fun. Kudos Baron.
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