Rules for calling trade ideas in the chatbox - Feedback and Announcements | futures io social day trading
futures io futures trading


Rules for calling trade ideas in the chatbox
Updated: Views / Replies:6,280 / 24
Created: by Big Mike Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Rules for calling trade ideas in the chatbox

  #1 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,356 given, 83,237 received

Rules for calling trade ideas in the chatbox

I am imposing a new rule for the chatbox.

If you are going to call out a trade idea in the chatbox, you must include your entry price, stop price, and target price.

You need to also write the word "cash" if this is a cash trade. If it is a sim trade write "sim".

I am making these changes because too often newer traders try and follow someone else who appears to be successfully calling trade ideas without realizing that person is not trading cash, or that person is "fudging" his numbers. Trying to copy someone else is bad enough without being mislead on top of that.

If you post a trade idea without this information, I will delete it and will ask you to stop posting trades in the chatbox.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.


Last edited by Big Mike; May 5th, 2012 at 08:07 AM.
Reply With Quote
 
  #2 (permalink)
Market Wizard
virginia
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: ES
 
cory's Avatar
 
Posts: 5,220 since Jun 2009
Thanks: 628 given, 6,318 received
Forum Reputation: Legendary

and which contract and specify which month during rollover time.
ps. also number of cars and is it original or add on or pare out.

Reply With Quote
The following 2 users say Thank You to cory for this post:
 
  #3 (permalink)
Elite Member
Milan (I)
 
Futures Experience: Advanced
Platform: Ninjatrader
Broker/Data: Kinetick
Favorite Futures: FDAX,6E,CL,YM,NQ,ES
 
redratsal's Avatar
 
Posts: 1,653 since Oct 2010
Thanks: 1,217 given, 2,068 received


I understand the meaning of this rule but it makes things more complicated. I see the Chatbox as a comunication tool, people should not be influenced and if they wrongly do, that is one of many lessons to be learned about trading. I think the real problem is with old and wizard members, their calls might influence somebody. I wish the age or the board status could be linked to the trading performance but in my case it isn't so. To be fair the rule should be extended to threads and posts, which would make things even more complicated. Who wants to remember all this information. I think a reminder on the bottom of the chatbox should be enough, beeing responsible is part of risk management.

Reply With Quote
The following 6 users say Thank You to redratsal for this post:
 
  #4 (permalink)
Membership Revoked
Oslo, Norway
 
Futures Experience: Advanced
Platform: CQG, Excel
Favorite Futures: CL
 
Lornz's Avatar
 
Posts: 1,198 since Apr 2010
Thanks: 500 given, 1,235 received


redratsal View Post
I understand the meaning of this rule but it makes things more complicated. I see the Chatbox as a comunication tool, people should not be influenced and if they wrongly do, that is one of many lessons to be learned about trading. I think the real problem is with old and wizard members, their calls might influence somebody. I wish the age or the board status could be linked to the trading performance but in my case it isn't so. To be fair the rule should be extended to threads and posts, which would make things even more complicated. Who wants to remember all this information. I think a reminder on the bottom of the chatbox should be enough, beeing responsible is part of risk management.

I am long the front month of this post without a stop loss and an unlimited profit target!

Reply With Quote
The following 2 users say Thank You to Lornz for this post:
 
  #5 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,356 given, 83,237 received

I am not trying to make things more difficult, but the bottom line is that a lot of traders are very trusting when it comes to other members and what they say.

I could care less if someone is on cash or sim personally. But then again, I don't get influenced by the trades people call in the chatbox. A lot of members do. Just look at the popularity of the Vendor Reviews section and look at how many members are going from room to room looking for signal calling services.

So you need to understand how many people are being influenced. And it isn't fair for them to be influenced without having more facts, such as a stop and a target for each trade.

I realize some guys may not feel like posting trades any more with the new stop and target requirement. But I would rather have no trades called than misleading trades called.

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following 3 users say Thank You to Big Mike for this post:
 
  #6 (permalink)
Elite Member
las vegas
 
Futures Experience: Intermediate
Platform: Sierra Chart
Broker/Data: Velocity/IB
Favorite Futures: 6E
 
Posts: 1,147 since Feb 2010
Thanks: 304 given, 836 received

I think its good and I don't think its that complicated really. I'm sorry, but too many ppl making after the fact calls and then mysteriously nothing to show for it.

Reply With Quote
 
  #7 (permalink)
Elite Member
Chicago Illinois USA
 
Futures Experience: Advanced
Platform: Ninja Trader
Broker/Data: IB
Favorite Futures: duh hammer!
 
wldman's Avatar
 
Posts: 2,077 since Aug 2011
Thanks: 971 given, 2,641 received

Very well...

received and necessary requirement imo if there is to be any integrity at all to trades called on the box. Of course anyone can type out a phony bologna trade and say it is 100 lot. BUT the timing will now and should now be called to task. Kudos on the idea and the request for this necessary change.

Reply With Quote
 
  #8 (permalink)
Elite Member
Bala, PA, USA
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: Mirus, IB
Favorite Futures: SPY, Oil, Euro
 
monpere's Avatar
 
Posts: 1,858 since Jul 2010
Thanks: 300 given, 3,276 received


redratsal View Post
I understand the meaning of this rule but it makes things more complicated. I see the Chatbox as a comunication tool, people should not be influenced and if they wrongly do, that is one of many lessons to be learned about trading. I think the real problem is with old and wizard members, their calls might influence somebody. I wish the age or the board status could be linked to the trading performance but in my case it isn't so. To be fair the rule should be extended to threads and posts, which would make things even more complicated. Who wants to remember all this information. I think a reminder on the bottom of the chatbox should be enough, beeing responsible is part of risk management.

I've never used this feature on the site, but I agree that any chat function of this nature where people can be influenced by live calls, should have the standard trading risk warning, unless the people making the calls are CTA's.

Reply With Quote
 
  #9 (permalink)
Market Wizard
virginia
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: ES
 
cory's Avatar
 
Posts: 5,220 since Jun 2009
Thanks: 628 given, 6,318 received
Forum Reputation: Legendary


monpere View Post
I've never used this feature on the site, but I agree that any chat function of this nature where people can be influenced by live calls, should have the standard trading risk warning, unless the people making the calls are CTA's.

if they are CTAs they are regulated by the National Futures Association (NFA) then they will have to have you to read thru disclaimer first before they can even say anything.

Reply With Quote
 
  #10 (permalink)
Fiddler
Nashville, TN
 
Futures Experience: Intermediate
Platform: NinjaTrader
Broker/Data: IB
Favorite Futures: NQ ES
 
Posts: 468 since Feb 2011
Thanks: 323 given, 542 received


I think it is a great idea simply because it gives some accountability to all parties, the poster as well as the follower.

It helps out the sim guys too, because effectively they are putting their reputation where their mouth is, and sometimes that is as good as money to drive an emotional response. It actually becomes a real trade when everyone and their brother knows...lol. Then they can gripe about getting their calls faded by other people too

There is still no reason that people can't talk about where they think things are going, people will just know that there is not money behind those comments. Quality over quantity.

If Mike wants to give some credence to those that don't like the idea, then make Chat 2-4 available to make whatever crazy calls people want. That way those interested in documented calls can stay in Chat 1, while the others can play around.

Reply With Quote
The following user says Thank You to Luger for this post:

Reply



futures io > > > Rules for calling trade ideas in the chatbox

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Weird chatbox re-sizing annoyance? forrestang Tech Support 4 November 2nd, 2011 08:52 PM
shodson's Trade Strategy Ideas shodson Elite Automated Trading 11 June 10th, 2011 01:58 PM
Gios Trade Ideas max-td Trading Journals 1034 December 28th, 2010 11:13 AM


All times are GMT -4. The time now is 05:17 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-18 in 0.15 seconds with 19 queries on phoenix via your IP 23.22.136.56