What would happen if BMT switched to 100% pay model - Feedback and Announcements | futures io social day trading
futures io futures trading


What would happen if BMT switched to 100% pay model
Updated: Views / Replies:5,546 / 72
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 – 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 don’t 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

Closed Thread
 
Thread Tools Search this Thread
 

What would happen if BMT switched to 100% pay model

  #31 (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: 29,357 given, 83,237 received

Thanks guys.

BTW, this isn't about money. It's about time spent dealing with non-Elite members. It is disproportionate to the amount of time spent elsewhere on futures.io (formerly BMT). I needed some convincing on why it was/is/may be necessary.

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.

 
  #32 (permalink)
Elite Member
asheville north carolina USA
 
Futures Experience: Beginner
Platform: ATC trader (OEC white label)
Broker/Data: ATC
Favorite Futures: futures
 
bourgeois pig's Avatar
 
Posts: 312 since Sep 2014
Thanks: 765 given, 271 received

supply and demand

Supply- How much time do you have to offer putting out fires?

Demand- How much would not being able to sample the value of the forum discourage potentially legit sign ups?

I myself only joined after seeing the potential value after becoming a non elite. I actually found Big Mike's while investigating the legitimency of the Crazy Code Oil Room /ES secret guy. (He turned out to be a freak), While I would like to think that I would have figured that out for myself, Big Mike's was instrumental in showing me the light regarding trading room cons in general. So definatley this forum has a good samaritan aspect.

What made me finally pay up was clicking on threads that sounded beneficial but were only available to elites and the modest lifetime mebership fee. Plus the availabilty of downloadable custom indicators.

The more I think about it the more I like it the way it is or as an alternative perhaps keeping everything the same except only allowing elite to post. There ARE some random troll posts from non members.

Then again, Many of the vendors that you do facilitate here probably get hits from non elites......Hell I don't know. It sounds like it comes down to you finding a way to discourage the trolls and freeing up some of your time. This forum has an organic feel to it which is great. Hard to find that on the interweb these days. Even craigs list sucks now. it used to be good.

As a futher note have you ever thought of starting an indicator pay store where the creators copyrighted their created indicator and payed futures.io (formerly BMT) a cut for facilitating the sale?

What if the store was a seperate entity linked to the forum and non mebers could get a free membership by spending so much in the store and meers recieved a discount?


Perhaps there would be legal issues regarding the sale of indicators that i don't realize but just a thought... The ones who create these indicators seem like they put a lot of time into their craft. Also what if some of the coders could sell auto trading algos, or create custom algos for someone who knows what conditions they want to enter a trade but don't have the time or knowledge to create the code themselves. Guess I'm getting a little off topic........ But it sounds like you want to innovate the forum so my mind wheels started turning.

"Napoleans severest comment on his beaten enemies - that they "saw to many things at once""- Hart
 
  #33 (permalink)
Market Wizard
Sarasota FL
 
Futures Experience: Intermediate
Platform: NinjaTrader, Sierra Chart
Favorite Futures: ES
 
Posts: 3,641 since Jan 2013
Thanks: 26,776 given, 11,133 received
Forum Reputation: Legendary



Big Mike View Post
Yes I understand, but look at the typical vendor. When someone pays money for an indicator or for a trading room or for a set of training videos, they see only a screenshot or similar for representation. They don't get to see 200,000 free posts.

I can create a "What's inside futures.io (formerly BMT)" document and show screenshots of indicators, screenshots of methodologies, screenshots of webinars... you get the idea, with thousands of indicators, thousands of methods, hundreds of webinars -- I have a hard time believing people would refuse to sign-up simply because they can't see the content. That argument doesn't make sense when you look at what people are doing with existing vendors in the trading marketplace.

If I am wrong, please help me understand.

Mike


tturner86 View Post
I understand the paradox that you are experiencing now. But the difference is you are not 'selling' a dream as a vendor is. You are not making claims that they will be overnight millionaires, or drastically change their lives.

And not that you should. Just saying with the right amount of hope or dream people will easily part with their money.

I was going to write something similar to what @tturner86 just wrote, but he beat me to it.

But since the way I was going to put it is a little less polite than he did, I'll go ahead with my post anyway:

The difference is that you are not a lying BS'er who is trying to trick anyone by appealing to their gullibility and yes, their dreams. In that competition, anything you put out simply will not win out.

Sorry, man. The difference is that you've got something of value, and some scruples. You can't excite the frenzy to spend money now now now to get rich.... which, on the whole, is a good thing.

So a pure appeal to value is not in the same ball park as the vendors' stuff, even the honest ones. And people only believe the vendor pitches because they are suckered by hype. If that's not what you are doing, they will be more rational, and need to see something first....



Bob.

 
  #34 (permalink)
Elite Member
Tucson AZ/USA
 
Futures Experience: Beginner
Platform: TradeNavigator
Favorite Futures: ES
 
casey44's Avatar
 
Posts: 133 since Jan 2010
Thanks: 1,923 given, 124 received


Big Mike View Post
This would solve virtually all the spam problems and rude posts that I have to spend a lot of time on every day.

Who would want to deal with that, ugh, hope you do whatever it takes to eliminate such.

Mike, not one in a thousand here would even think of creating what you've done. And fewer still would continue if they had to deal with that level of disrespect, not to mention death threats of all things. You asked FT71 in the AMA the other day, “Why do you do it?” I expected him to ask you the same. Expect we only see the tip of the iceberg of negative stuff you have to deal with. Last week you wrote: “Sometimes I question why I bother.” For some time I've felt I'd not be surprised to see the site closed/gone fishing.

It simply has to be worth your while, value received for value given, and why not cash flow enough to hire help and/or deal with legal costs. I'd think the question of “What's ideal for you?” is the most important one if this is to continue long term.

 
  #35 (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: 29,357 given, 83,237 received

No need to be concerned about futures.io (formerly BMT) shutting down. I think it will outlive me...

Sent from my phone

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.

The following 9 users say Thank You to Big Mike for this post:
 
  #36 (permalink)
Elite Member
asheville north carolina USA
 
Futures Experience: Beginner
Platform: ATC trader (OEC white label)
Broker/Data: ATC
Favorite Futures: futures
 
bourgeois pig's Avatar
 
Posts: 312 since Sep 2014
Thanks: 765 given, 271 received


Big Mike View Post
No need to be concerned about futures.io (formerly BMT) shutting down. I think it will outlive me...

Sent from my phone

50,790 thanks recieved.....and counting. That could be a world record!

"Napoleans severest comment on his beaten enemies - that they "saw to many things at once""- Hart
 
  #37 (permalink)
Elite Member
Atkinson, NH USA
 
Futures Experience: Intermediate
Platform: NinjaTrader 8/TensorFlow
Broker/Data: NinjaTrader Brokerage
Favorite Futures: Futures, CL, ES, ZB
 
NJAMC's Avatar
 
Posts: 1,925 since Dec 2010
Thanks: 2,962 given, 2,294 received


Big Mike View Post
Thanks guys.

BTW, this isn't about money. It's about time spent dealing with non-Elite members. It is disproportionate to the amount of time spent elsewhere on futures.io (formerly BMT). I needed some convincing on why it was/is/may be necessary.

Mike

@Big Mike,

It might make sense to do that, maybe the same 2 tiers you have now, only "Free" will cost some small amount a year, like $5. maybe that will slow down fake accounts given to spam the system will cost them $5.

Nil per os
-NJAMC [Generic Programmer]

LOM WIKI: NT-Local-Order-Manager-LOM-Guide
Artificial Bee Colony Optimization
 
  #38 (permalink)
Market Wizard
Houston, TX
 
Futures Experience: Advanced
Platform: XTrader
Broker/Data: Advantage Futures
Favorite Futures: Energy
 
Posts: 2,124 since Dec 2013
Thanks: 1,750 given, 3,361 received
Forum Reputation: Legendary

I've been a professional trader for a long time. As part of my job I feel I need to be prepared and aware of what is going on, new trends, new idea's, market news, market rumors etc etc. As such I have and do lurk at many trading sites looking, learning and watching, always trying to prepare/educate myself. The problem with almost every website in the modern day and age is that you have to wade through mountains of crap to find the few posts/snippets of information worth reading. I hate the keyboard warrior all high and mighty who in real life would never say anything like they do online.

To me the greatest thing about this forum is @Big Mike 's moderation, and the lack of all the crap, childish bickering and generally worthless posts. I regularly spend an hour researching, looking (lurking?) etc at industry site's and at the end think "Oh well that was a complete waste of time". Not so here. While I might not feel like I learned something everytime I rarely feel like any time on futures.io (formerly BMT) was wasted time. (Plus of course I find some of the journals highly entertaining and great late night reading, much better and funnier than Letterman/Leno/Fallon/Conan etc etc).

I am an elite member, and had no problem paying the fee. I did NOT do it so that I could access all that 'elite only content' and 'super indicators' (I'm not a chart/indicator/technician trader) but because I value the site and viewed it as a fair thing to do to support something I respected. From this perspective I personally would have no problem switching to a 100% pay model. Question is would you maintain enough of the other people to make the sight worthwhile visiting and hence paying for on an ongoing basis? That is not something I know the answer to. I will say though that I visited for a long time before signing up.

I understand that maintaining a site like this takes considerable time and effort. For me I suspect a drop in the quality of the moderation would probably directly correlate to a drop in the quality of site and as such make it less desirable. Did you ever consider hiring somebody to help moderate/maintain the site? How would you pay them? Well instead of making the site 100% pay, maybe make the elite fee an annual fee? Say $20/year? Sure everybody who has already paid the fee may feel slighted but if everybody really is as happy to be an elite member as they claim, $20/year should be acceptable.

The following 3 users say Thank You to SMCJB for this post:
 
  #39 (permalink)
Elite Member
In the heat
 
Futures Experience: None
Platform: NT
Favorite Futures: Energy
 
PandaWarrior's Avatar
 
Posts: 3,155 since Mar 2010
Thanks: 6,306 given, 13,250 received

Free brings in new people....they come for the free content and stay for the value....if you go all paid, I think your new member count will go down exponentially. I never pay for anything until I'm convinced of value....and while I came for the free indicators, I stayed for the value....

My suggestion,

Guest, view only non elite content
Non Elite member, view existing content sans attachments and images, create max of one thread, post in a max of "X" number of other threads, max# of posts per day. If they want to lift the limits on posting, pay a small fee, say $10.00. No indicator downloads as is current.
Elite, current priviledges.

just thinking out loud.

Simplicity is the ultimate sophistication, Leonardo da Vinci


Most people chose unhappiness over uncertainty, Tim Ferris
The following 2 users say Thank You to PandaWarrior for this post:
 
  #40 (permalink)
 Vendor: www.traderwerks.com 
Taipei Taiwan
 
Futures Experience: Advanced
Platform: NinjaTrader
Broker/Data: Optimus
Favorite Futures: TW
 
Posts: 693 since Jun 2009
Thanks: 440 given, 440 received

Stackoverflow


Maybe a stackoverflow type of reputation system where the initial moderation is essentially crowdsourced. People can come for the free, encouraged to be nice, and still see the value of Elite. It seems to keep stackoverflow pretty clean.

Privileges - Stack Overflow

A full system would be a pain to code I think, but maybe a slimmed down version would help with moderation.

Math. A gateway drug to reality.

Closed Thread



futures io > > > What would happen if BMT switched to 100% pay model

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
Interested In Opinions of Sierra Chart Users Who Switched From Multicharts Gedman Sierra Chart 26 November 25th, 2014 05:34 PM
Wolf of Wall Street Belfort Is Aiming for $100 Million Pay kbit News and Current Events 0 May 20th, 2014 10:24 PM
100,000 trades for BMT Big Mike Traders Hideout 229 July 5th, 2012 02:17 PM
Interested In Opinions of Multicharts Users Who Switched From Sierra Chart Gedman MultiCharts 1 February 27th, 2012 08:10 AM
Public Pension Fund Targets Over 100 Firms on CEO Pay Quick Summary News and Current Events 0 October 14th, 2011 09:30 PM


All times are GMT -4. The time now is 12:55 PM.

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 54.196.201.241