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:5,506 / 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

  #61 (permalink)
One day...
SF, CA/USA
 
Futures Experience: Beginner
Platform: SC
Broker/Data: Stage 5 Trading/Gain
Favorite Futures: CL, NQ, ES, EUR
 
jackbravo's Avatar
 
Posts: 1,074 since Jun 2014
Thanks: 2,601 given, 1,730 received
Forum Reputation: Legendary

why not allow non-elite to only posts in the journals section, and they can't start more than a thread a month or something like that? then they can continue to read the non-elite stuff. Though this might decrease the total number of posts on the site, but at least you'd keep the same # of people and and # of views (if that's something important to you). If # of people/views is not something important, then make the site elite only.

The following user says Thank You to jackbravo for this post:
 
  #62 (permalink)
Elite Member
Prince George BC Canada
 
Futures Experience: Advanced
Platform: IBs TWS
Broker/Data: IB
Favorite Futures: Stocks
 
deaddog's Avatar
 
Posts: 591 since May 2013
Thanks: 97 given, 643 received


Big Mike View Post


What would happen if futures.io (formerly BMT) were to switch to a 100% pay model. No more free rides.


Thoughts?

And again, just for discussion sake --- no decisions have been made, no changes are planned.

Mike

All the existing members would still be here.

The non elite members would have to make a choice as to whether they wanted to stay on a site with well moderated civil discussions of trading related topics.

New membership would slow down; you might have to initiate some sort of low priced paid trial to attract new subscribers.

Spammers having to sign up with a credit card would be greatly reduced.

The moderator should have more time to enjoy life.

It is hard to find the Truth when you start your search with a preconceived notion of what the Truth will be.
The following user says Thank You to deaddog for this post:
 
  #63 (permalink)
Elite Member
Aurora, Il USA
 
Futures Experience: Advanced
Platform: TradeStation
Favorite Futures: futures
 
kbit's Avatar
 
Posts: 5,872 since Nov 2010
Thanks: 3,301 given, 3,332 received


I think you have to to come up with more moderators....paid or volunteer. I'm sure there are some around here that would help out for free or for maybe a box of doughnuts and a six pack.

The site as it is now seems ideal to me. I realize that the spammers are a pain in the ass but the alternative solutions put forth so far would have detrimental effects in terms of less content and ideas, etcetera.

The following 3 users say Thank You to kbit for this post:
 
  #64 (permalink)
Elite Member
Austin, TX
 
Futures Experience: Intermediate
Platform: F-16CM-50
Favorite Futures: JDAM
 
tturner86's Avatar
 
Posts: 5,781 since Sep 2013
Thanks: 9,848 given, 11,151 received
Forum Reputation: Legendary


kbit View Post
box of doughnuts and a six pack.

Someone say doughnuts and a six pack?

The following 2 users say Thank You to tturner86 for this post:
 
  #65 (permalink)
Elite Member
Louisville, Kentucky
 
Futures Experience: Intermediate
Platform: Sierra Chart, IRT
Broker/Data: Various
Favorite Futures: Futures
 
empty's Avatar
 
Posts: 92 since Oct 2012
Thanks: 1,906 given, 177 received

Glad you brought this up

My preference would be that futures.io (formerly BMT) would restrict posting to paid subscribers only. Guests could view, and maybe only view certain parts of the site. I'd like to see the training presentations available only to subscribers, except for a select few that futures.io (formerly BMT) decides on. It seems to me that the non subscribers contribute a lot of mis-information.


Last edited by empty; February 7th, 2015 at 01:56 AM. Reason: Clarify it's not just non-useful but mis-information
 
  #66 (permalink)
Elite Member
Chemnitz, Germany
 
Futures Experience: Intermediate
Platform: Python
Favorite Futures: ALL the futures (and options)
 
Posts: 80 since Sep 2014
Thanks: 304 given, 48 received

I would keep the "Beginners and Introductions" forum open at least, maybe "Trading Journals" as well.. It gives people a chance to interact with the futures.io (formerly BMT) community before diving in. I definitely wouldn't have become an Elite otherwise.

 
  #67 (permalink)
Elite Member
seoul, Korea
 
Futures Experience: Intermediate
Platform: Multicharts
Broker/Data: CQG, DTN IQfeed
Favorite Futures: YM 6E
 
treydog999's Avatar
 
Posts: 894 since Jul 2012
Thanks: 291 given, 1,006 received

If I were a potential new member I would look at 100% paid and walk away. Just from the external viewpoint that it would seem that the forum was created for revenue generation. Although it has been made clear that this is not the intention of the reason to go 100% paid, its hard for someone just clicking on the forum for the first time to see that.

I understand that moderation is difficult. But I think that there is a lot of content generation, visits and clicks that can occur from the non elites. But I think that the benefit of having our current model is that you can select your level and not be limited. You can pretty much get 90% of the content as a non elite which goes into the trustworthiness characteristic that futures.io (formerly BMT) is known for. I think that its removal would be a overall negative.

So the root problem is really just post moderation with a majority of problems coming from non elites. This is logical as they have no skin in the game if they get banned etc. There are a couple of options get more trustworthy mods, use crowd sourced community moderation tools, or place some daily post limits for non elites. Although crowd sourced community moderation or daily post limits will not eliminate the issue, it will reduce it. I think we should focus more on fixing the problem directly and more precisely, than just creating more barriers to entry.

The following 3 users say Thank You to treydog999 for this post:
 
  #68 (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: 46,238 since Jun 2009
Thanks: 29,350 given, 83,218 received

Appreciate the feedback. To address a few items:

Any model where a non-Elite user is allowed to make 1 post, anywhere, will not solve the problem. This is because that is where spam/self-promotion/vendor posts come from. It makes virtually no difference if they can make 1 post or 100, because of the moderation tools. And to them, it makes virtually no difference as well (won't stop them).

I am the only moderator. @sam028 is a site admin, and his assistance is welcomed, but he normally just "holds the fort" when I am on vacation or deals with any obvious over-the-top spam problems in Reported Post section. Unfortunately, virtually no one uses Reported Posts despite being asked to in the welcome emails and in countless posts on futures.io (formerly BMT). Most people send me a private message, despite it being in enormous yellow highlighted print to not do that. The issue here is simple, people don't read and/or don't like using something that isn't natural feeling to them (like report post).

Anyway, I am not taking on new moderators. I've had several in the past, all extremely good guys, several of which still frequent the site daily. There are numerous problems that were encountered, none of which I have a solution to, so it means there are no active moderators except myself. These problems cover many areas, from legal, to voice of the site/uniformity, to being attacked and harassed for their participation.

I don't think any of you have any true appreciation for how much I am attacked for futures.io (formerly BMT). It creates a lot of anger with vendors, and with trolls who get banned. Why is futures.io (formerly BMT) so different? Because with other sites 'money talks' and the admins bend to the will of the vendors, or bend to the will of 'legal threats' to remove content, and also don't aggressively prevent rude behavior like I do on futures.io (formerly BMT). So it is difficult for people to really have a good appreciation of how many problems this causes me because of how I elect to run futures.io (formerly BMT).

I believe the answer is to delegate more of the back-end responsibilities, those that none of you see on a daily basis, to other peoples or companies. Unfortunately that proposition is quite expensive, hiring just one employee would basically eliminate all positive net cash flow that futures.io (formerly BMT) generates, or even make it a losing business. While I don't do futures.io (formerly BMT) for the money, it is one thing to run it as a profitable business, and another to run it as a unprofitable one just for the good of "the people". I will consider all my options further.

I want to remind everyone, I am not making any changes. This was just to discuss the issue, but nothing has really changed or been mentioned that I hadn't already considered, and nothing mentioned solves any problem so far, but I appreciate the efforts.

I like futures.io (formerly BMT) as it is today, and what it stands for. I am not looking to make sweeping changes. I was just hoping to be able to find a magic solution to my biggest problem: lack of time.

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.

The following 10 users say Thank You to Big Mike for this post:
 
  #69 (permalink)
Elite Member
Chicago, USA
 
Futures Experience: Advanced
Platform: TradeStation, NinjaTrader, Market Delta, TOS, StreetSmartEdge, OptionXpress
Favorite Futures: ES, currency futures, options, stocks
 
Posts: 183 since Dec 2010
Thanks: 283 given, 248 received

Thanks for all the work you do. I didn't know you manage everything pretty much yourself. That brings another concern, do you have a contingency and business continuity plan if something happens to you? There are thousand and thousands of man hours invested in this site by you and all collaborators. I would hate see this thing going down 'God forbid' you get sick or something worse happens...

The following 2 users say Thank You to dstrader for this post:
 
  #70 (permalink)
Trading Apprentice
kuwait city
 
Futures Experience: Beginner
Platform: ninjatrader mt4
Favorite Futures: fx
 
Posts: 16 since Oct 2011
Thanks: 274 given, 7 received


i will pay the life time !


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)

Linda Bradford Raschke: Reading The Tape

Elite only

Adam Grimes: TBA

Elite only

NinjaTrader: TBA

January

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 06:44 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 2017-12-11 in 0.14 seconds with 19 queries on phoenix via your IP 54.92.194.75