having never run a site like this, i was somewhat surprised at the bot issue (only somewhat). been a member since over the summer and while i havent been compelled to post or contribute as yet, my impression of the site is one of significant value. i have attended several webinars both live and archived. read thru some of the posts but havent had the need to download anything. i tend to do my own thing, trolling more for ideas and perspectives than anything else. in my view when something requiring an elite membership comes along that i just cant live without then the $20 or $50 contributions are a no brainer. if the bots and posers are this much of an problem then elite membership is a very small price of admission. real trading noobies will soon find where value lies thru their own price discovery.
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For what it's worth.....I did not mind at all paying a fee for access to this site....
(I did spend a bit of time initially prowling around the forum before deciding to join).
I am not an active "poster"...(I post occasionally and read a lot).....but I do code indicators for folks and make modifications for futures.io (formerly BMT) members. Requiring Elite membership for downloads does not seem to be an overly burdensome requirement.
Sort of like having locks on your doors, it will stop all but the most determined folks from trolling through and getting stuff.
As for the general "tone" of the communications, one of the things I liked most about futures.io (formerly BMT)...(after the content of course)...was the fact that 'flame wars' and the general nihilistic "nothing-about-trading-works" aura of other sites, was not in evidence on futures.io (formerly BMT). Several trading sites are so negative that after the first 30 minutes, I start to wonder if anything on that site is useful.
Allowing limited free access to some forums and information is probably useful,
but paid memberships for access to indicators, access to recorded webinars, and access to the more details forums, seems appropriate.
This may not be a popular statement, but based on the quality and volume of the content of futures.io (formerly BMT),
I'm sort of thinking that a modest yearly membership fee might be in order....
(don't yell at me...it was only a thought )
Last edited by photog53; September 3rd, 2011 at 11:56 AM.
Along with others, I doubt that requiring a small fee to join the Elite group is likely to deter someone intent on taking another's work to try to profit from it by selling it. Although I haven't posted many indicators that I have written, if I thought someone would be interested in them, I would share gladly. This has been my practice over the years, whether for Ensign, Worden Bros., or NinjaTrader. I really don't care and Intellectual Property laws are nebulous at best. Plus, what would be the gain in suing someone. We might as well accept that there are scoundrels in this world and just avoid them. Frankly, I think most indicators are not particularly helpful and that people have to find their own method and approach that fits with their personality and trading style. I like those that have some statistical basis (BB's) or common, fairly consistent, market "reaction" as the 20sma appears to; also those which show a historical perspective to previous price levels such as CCI and Stochastics. That's why I don't bother to upload my indicators. They are simply variations on those and unlikely to really provide much to anyone else.
Further, I don't think that providing payment ensures quality of members although it might reduce the number of casual and temporary participants.
Re: having an Elite group... first of all I really dislike the term "Elite", but that aside, I do find the Elite members more consistently thoughtful and serious. What about having an application for membership process wherein someone must be voted in or out by the membership? That approach would bring about a number of thorny issues... like how many members must respond and by when; who makes the final decision (Mike? moderators?).
Re: the download restrictions; there are times when an indicator or strategy is a work-in-progress and perhaps not ready for prime time. How would indicators in this status be shared if not attached to a post until complete? Could there be a special category in the download form to designate it such so that a user knows and can limit a search or list to just those deemed complete?
Instead of having the $50 go to the forum, why not a nominal fee of $5 per download which is credited to the writers paypal account. That way there is an insensitive to create and disinsensitive for bots without paypal accounts.
what about all the members who paid for a lifetime membership who thought they paid for unlimted use and downloads and now u want to start charging more for use..? this idea sounds like the way cell phone companies operate now a days.. ie is ur unlimited cell service really unlimited?(aka throttling)...
dont believe anything you hear and only half of what you see
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Mike will choose to start charging per download or per view. I might be missing it, but the main question seemed to be getting some of the information behind some type of protection. I thought maybe secondary was the point about cba for Mike personally as Im sure it is a major effort to maintain the page.
Individuals who are going to "mine" resource will do that to a cost level that almost meets their revenue from the mined info. Seeing some packages listing for $700, indicates that the break even analysis might put equivalent membership dues out of reach for many legit viewers and contributors.
Some combo of every member is a paid member and the understanding that totally open sharing for some items may have to give way to "private" sharing of some type.