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Soultrader

How To Improve TL????

How do you rate TL?  

23 members have voted

  1. 1. How do you rate TL?

    • Excellent. Love this site!
      17
    • Good, but room for improvement.
      6
    • Horrible, cant stand this place!
      0


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Hi all,

 

I am welcoming all user requests and feedback. I am looking to implement a few more things on the site for further improvement.

 

What are some of the features you would like to see? What are some of the things you would like improved? Please share your thoughts. Thank you.

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I really do like it as it is. The single to noise ratio is outstanding. Moderation is excellent there are some great contributors. The size of the community is good, diverse enough to be interesting but small enough to be 'tight'. Of course your tireless efforts to make it the best is really why we are lucky enough to have this great place to hang out. I guess you where looking for constructive criticism and there's me sounding like a shill selling the latest greatest trading system. I don't normally gush :embarassed: it must be the holiday spirit.

 

I can think of a few things that might harm TL but to be honest I really wouldn't change much.

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I've seen those trader workshops, but there isn't much there (or maybe I'm just ignorant and haven't looked enough). But I think it would be cool if we could expand on that. Maybe offer a work shop on the various strategies discussed here such as VSA, Candlesticks, MP, etc. We could have a few experts on the subject host a chat session to discuss basic, intermediate, or possibly more advanced setups on the strategy. There are a lot of threads, but sometimes a simple chat and quicker interaction can help a lot.

 

I still liked the idea of meeting together in a chat once a week to discuss various things to improve our trading. Such as money management, psychology, etc.

 

I believe a focus on more positive interaction (we have our small confrontations, but that's expected anywhere) would help the site to stay on track and not derail like ET. I honestly think the various forum sections devoted to specific trading styles helps A LOT.

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Thanks blowfish and james,

 

I initially started the workshop for that purpose but realized the limitations of it.... as it does not allow attachments, charts, etc...

 

I think some type of interactive chat sessions to discuss specific elements of trading may be of interest. Perhaps covering topics less talked about such as psychology, risk control, money management, timing, overtrading, discipline, etc...

 

I could send out a newsletter to inform members regarding such events. The only problem is I may not be able to attend due to the 13 hour time difference I have with New York. But Im sure there will be no problems even without my attendance. What do you all think?

 

Ive also been wanting to implement a recognition section for all the great contributors. Perhaps a thread/post/indicator nomination per week/month. I think members here deserve some credit for all the inputs.

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I really do like it as it is. Moderation is excellent there are some great contributors. The size of the community is good, diverse enough to be interesting but small enough to be 'tight'. Of course your tireless efforts to make it the best is really why we are lucky enough to have this great place to hang out. I guess you where looking for constructive criticism and there's me sounding like a shill selling the latest greatest trading system. I don't normally gush :embarassed: it must be the holiday spirit.

 

I can think of a few things that might harm TL but to be honest I really wouldn't change much.

 

Ok Blowfish took all my answers. :o

 

I really can't say much else than what he covered. Stellar place to learn, grow, ask questions and give back. 5 Stars personally!

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Good question. I could see a couple of areas that may be useful to those that are able to spread-bet.

 

1. A section comparing spread-betting companies - spreads, products, markets covered, functionality etc

 

2. A fair few of the spread betting companies that I'm familiar with are constantly introducing new products (eg binary products where you bet on things such as whether the FTSE will end up or down for the day, and bungee bets) - A place to discuss and understand how these products could compliment an overall strategy may prove useful

 

3. Spread-betting adds a new dimension to position sizing - you don't buy 1 contract on the YM, you size per point (eg £2 per point). I wonder how many novice traders who could spread-bet are aware of this?

 

 

I suppose the question is how many of the TL community are able to make use of spread-betting?

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I suppose the question is how many of the TL community are able to make use of spread-betting?

 

Great question. For example, I know nothing about it and do not believe it's available to US citizens. That's neither here nor there, but just an fyi.

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Hi SoulTrader,

 

Great Question.

 

On how to improve the site;

 

- Keep asking that Question !!!

- Provide feedback to those that have the ideas to help answer this Question

- Implement what you think is right for the vision of where you want to take the site and explain why....

 

By the way what is your vision for it (its already very good by the way !!) Perhaps that should be at the top when you get the chance to articulate it even if it is a site that evolves over time....

 

Just some thoughts.

 

Best

Johnps please excuse me if you have posted it or something like it in the forum..

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Great question. For example, I know nothing about it and do not believe it's available to US citizens. That's neither here nor there, but just an fyi.

 

I know spread-betting is technically outlawed in the US, but not sure where else in the world it's legal? I wonder if there's enough UK base traders in TL to make it a worthwhile subject? Besides its not impossible that legislation may change and make it available in the US (although I wouldn't hold my breath)

 

Given the advantages of spread-betting (position sizing, tax free profits etc) I certainly think its something that all traders should be aware of - even if its currently outlawed in their country.

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Another thing that would undoubtedly enrich the content at TL would be up todate journals. I know its incredibly hard to keep journals updated regularly (especially during those losing streaks!).

 

I found a journal at forexfactory by a guy called Stevie, who pledged for 1 year to post his trades nightly without fail - He'd developed a strategy, the details of which are not important, but what struck me was his incredibly simple Stop and Profit placements and his amazing discipline. From what I can tell he went from an account of a couple of hundred dollars to managing over $100,000 in the space of 18 months. Truly inspirational and great PR for Forexfactory.

 

How could TL encourage traders to be disciplined in their journals?

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I know spread-betting is technically outlawed in the US, but not sure where else in the world it's legal? I wonder if there's enough UK base traders in TL to make it a worthwhile subject? Besides its not impossible that legislation may change and make it available in the US (although I wouldn't hold my breath)

 

Given the advantages of spread-betting (position sizing, tax free profits etc) I certainly think its something that all traders should be aware of - even if its currently outlawed in their country.

 

What exactly IS spread-betting, asides from being a glorified bucket-shop for stocks, that is?

 

After all, the spread betting trades aren't cleared on a recognized exchange, are they?

 

-fs

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What exactly IS spread-betting, asides from being a glorified bucket-shop for stocks, that is?

 

After all, the spread betting trades aren't cleared on a recognized exchange, are they?

 

-fs

 

Spread-bets are are not cleared on a recognised exchange but all Spread-betting companies are regulated by the FSA so there is a level of protection.

 

Placing a spread-trade on the DOW is identical in many ways to trading the underlying futures contract.

 

If I wanted to short the equivalent of 1 contract on the DOW, I'de place a sell order (market, limit or stop) at £2.50 / point. If I wanted to go long the equivalent of 10 contracts, I'de place a buy order at £25.00 / point.

 

Spread-trading has a number benefits, not least no capital gains on profits but also a greater level of control over position sizing. Traders trading the DOW increment their size in $5 chunks - spread traders can increment in 1p (0.5 cent) chunks.

 

All the basic functionality you'de expect from your trading platform is available from most spread-betting companies I know of. For example, Market, Stop, Limit, Market on Touch orders. You can also place OCO trades with contingent orders attached (for example - lets say you are playing the breakouts, you can place a Buy Stop with a stop and limit as contingent orders and at the same time place an OCO Sell Stop with a stop and limit. If the market takes you in long, your short order is cancelled and your stop and limit orders are immeadiately placed). One of the firms I used has just launched a product that allows you to deal directly on your graphs using drag and drop functionality. You can even attach orders to trendlines and things like fib's - I don't know if this is available from other brokers?

 

Because the market is so competitive in the UK spread-trading companies are continually coming up with new and innovative products - for example Binary Bets where you simply bet on 'Wall Street to finish up for the day'. The way this bet works is simple. The make-up is 0 if the market finishes down and 100 if the market finishes UP. The spread for it finishing up is set by the traders of the spread betting company - for example right now the spread on it finishing up is 51.1-55.9. Assume I think its going to finish up, I 'go long' at 55.9 @ £5 per point. It finishes up so the market 'makesup' at 100. I therefore make (100-55.9)*5=£220.5. If it finishes down the makeup is 0, so I lose (51.1-0)*5=£255.5. This type of 'betting' is not to everyones cup of tea, but it certainly gets the brain working on how these types of products could be used as part of the overall strategy.

 

Not entirely sure what you mean by a glorified bucket-shop for stocks, but its certainly possible to spread trade 100's probably 1000's of instruments through a single provider. For example on one of the platforms I use I can trade UK,US, European, Asian, Australian and African indices and stocks (like SSF's), all major commodities (energies, metals, softs), Tracker funds, bonds, options, house price indices and a whole lot more.

 

I don't know why exactly it's outlawed in the US - would be interested if anyone had a view on that?

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I don't know why exactly it's outlawed in the US - would be interested if anyone had a view on that?

 

One word - bucket shop.

 

Just as your UK spread-bettors are taking orders on stocks and not clearing them anywhere else but in-house (in essence taking the other side of the trade like spot FX), this activity was commonplace in the US before the 1929 crash.

 

The SEC in 1934 put an end to this activity, and instituted checks and balances to ensure that trades on stocks actually were executed on a regulated market.

 

Prior to this, bucket shops could simply delay the tape feed or quote another price in order to pocket the difference between actual traded price and whatever they quoted as the stock price.

 

Here's a link at Wikipedia that should provide additional insight:

 

http://en.wikipedia.org/wiki/Bucket_shop_(stock_market)

 

-fs

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No doubt if you search the net for stories around spread-betting firms using inappropriate tactics for their own advantage you'll find many disgruntled punters sob stories about how the market 'spiked down right to my 200 point stop, took me out and then shot straight back up'

 

Not sure it can be likened to bucket shops however....

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Why not? Isn't that what bucket shops do? Or spot FX dealers, for that matter....

 

Who is really moving the market? Or making the market for spread-bettors?

 

That stop spike you talked about is the same sort of tactic that is seen all too often in Forex too, IMHO....

 

I'll let you all continue believing what you will....

 

(And apologies for hijacking this thread.... )

 

-fs

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You got it. They are bucket shops where they are the counter party to any trade and they quote the prices and can see the order book. Pretty much like most forex 'brokers' in the US. The big advantage in the UK (where they are popular) is that winnings are tax free. I have never got on with them but if your trade frequency is low and your holding period longish the punitive spreads and slipage may be manageable.

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Yea, Im not interested in introducing spread betting here. Thats more of a feature for T2W or casino forums. I would rather have a poker forum than a spread betting forum... though either one is unlikely to be introduced here.

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Yea, Im not interested in introducing spread betting here. Thats more of a feature for T2W or casino forums. I would rather have a poker forum than a spread betting forum... though either one is unlikely to be introduced here.

 

POKER! POKER! POKER!

 

I vote for a poker forum!

 

:applaud:

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What about the poker section being under another header of something like

"general uncertainty that is not specific to trading"?

Then make the general section essentially a place for posting things off topic. Stuff thats just for socialization/community chat.

Just an example, I found this book that sounds great

http://www.amazon.com/Cambridge-Handbook-Expertise-Expert-Performance/dp/0521600812/ref=sr_1_1?ie=UTF8&s=books&qid=1215604490&sr=1-1

 

and this article

http://www.scienceblog.com/cms/mysterious-neural-noise-actually-primes-brain-for-peak-performance-11980.html

 

Right now, those would probly go in the general section but quickly get lost for future reference with the sports/pets/car talk.

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Small change to the blog section - 'recent comments' changed to 'recent comment threads'.

 

So that if for example one blog attracts 20 comments back and forth (i.e. becomes a dialog) it doesn't blot out all the other blogs that might have comments.

 

if there were little + and - signs to expand / contract these that would be ideal, but what we have now tends to become a bit single blog centric when one is attracting attention.

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