First, let me say I am only considering this at this time and have not decided to do anything.
Some of you may not realize this, but I receive about 10 private messages a day from people asking for help with their trading. I'm also coaching several students, but have been unable to take any new ones because of time constraints. The traders that PM me aren't getting much of my help either, for the same reason. Instead, I encourage them to post on the forum in the form of a journal and to solicit feedback from other members, start participating in threads, etc. I think that is the best way to learn.
That being said, I'd like to get your feedback on something I've been throwing around. What if we had a futures.io (formerly BMT) Trading Room that was open 24/7? When I say "Room" I mean it is in a live video screen sharing type format so you can see charts live.
This room would need to be different than some other rooms though for me to be happy... Some differences I think are important:
- No audio in the room. Video(charts) + Text typing only. This helps focus.
- Not a trade calling service. Not a trade calling service. Not a trade calling service!
- Study material, library of past material, live polls and "tests" -- think of it as a Training environment
- Not a single perspective. I don't want to show you just my charts and just my point of view.
- Pass the 'presenter' torch to futures.io (formerly BMT) members often. Anyone that wants to share a chart can, we can pass it back and forth. Maybe one day Bob presents and talks (types) about his method for a bit, next day George, next day Jane, etc.
- Talk about money management. Talk about discipline. Talk about psychology. Important!
With that being said, just as a starter, I want to emphasize that if a room like this is started the goal is not to SELL anyone anything. The goal is to further build a community based on learning and education, and as a group that is better accomplished than as individuals.
Last, due to (more) time involved in managing such a thing, and the costs of the actual presentation software etc (not cheap), I would have to charge about $20 a month to each member that wants to join the room (the exact cost is unknown right now). I also want to limit it to only futures.io (formerly BMT) Elite members, because I want to focus all of my time on helping the Elite members.
Please, share your feedback and let me know what you think of this idea.
Specifically, if you would be willing to sign up for this at around $20 a month, please reply and say so to help me get an idea of the response level. If you are unsure and you think you might cancel after only one month, I need to know this too -- I want to be realistic, this would be a big investment to get started, so I want to make sure the effort is worth while. You can expect my usual commitment level on this, so whatever your opinion is of that should carry over to this new project.