Should sim traders who pretend to trade cash be allowed on BMT? - Traders Hideout | futures io social day trading
futures io futures trading


Should sim traders who pretend to trade cash be allowed on BMT?
Updated: Views / Replies:19,808 / 203
Created: by Big Mike Attachments:2

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

Closed Thread
 2  
 
Thread Tools Search this Thread
 

Should sim traders who pretend to trade cash be allowed on BMT?

  #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: 46,238 since Jun 2009
Thanks: 29,350 given, 83,215 received

Should sim traders who pretend to trade cash be allowed on BMT?

New poll.

Should sim traders that pretend to trade cash be allowed on BMT?

Total votes: 441
 


I am talking about sim traders that post charts or posts/threads in a way that they pretend to be trading cash, like trading 10 lots at a time and making "calls" over and over etc etc, but that are instead on sim.

Should these traders be allowed to continue posting on futures.io (formerly BMT)?

Should they be banned?

If you've been a member of the forum for any length of time then you should know that I strongly encourage people to create journals to help them become better traders. But some threads have stopped being about learning and instead become some sort of "showing off" thing where a small number of traders routinely post charts as if they are making big trades on cash, when they are really on sim.

For anyone that believes that sim is the same as cash, obviously I strongly disagree as does everyone I can possibly think of and respect.

So the issue here is what it does to the more rookie traders that fall for those posts, thinking it is "real" when it is not. Those of us that have been around a while can see the BS from far away, but the newer traders can't. They may waste weeks, months, or even years trying to follow someone who seems to be a profitable trader, when in fact they are just on sim and are a huge BS'er.

Thoughts?

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; April 10th, 2014 at 01:26 PM.
The following 13 users say Thank You to Big Mike for this post:
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (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, 83,215 received


Something went wrong with poll, so if you voted in the first 4 or 5 minutes, please vote again as I had to reset it.

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 user says Thank You to Big Mike for this post:
 
  #4 (permalink)
 Vendor: diversifyportfolio.com 
PTA, Gauteng
 
Futures Experience: Advanced
Platform: Self built + Sierra + TWS
Favorite Futures: Stocks and Options
 
DarkPoolTrading's Avatar
 
Posts: 1,036 since May 2012
Thanks: 1,244 given, 1,304 received

I have also noticed over the last while that several journals now seem to be more about showing off than learning from mistakes and documenting the journey. Losing trades are hardly if ever shown and an endless stream of textbook trading is shown. I often ask myself, what's the point in doing that.

The learning comes from the mistakes. Who cares about text book trades. Learn from the losers, learn from the trades where you took profits too early, learn from the trades you didn't take because of XYZ. Put that stuff in your journal!

For me the journals I enjoy following are those where the trader is clearly struggling but is learning from their mistakes and making progress bit by bit. You can see the progress over the months. Really great to see.

I don't really think going as far as banning is feasible. In the end it's the person posting in the journal who is in my opinion completely wasting their time thinking that live trading is the same as sim. But I agree newer traders to the forum are attracted to such posters like moths to a flame. Im not sure there's much you can do about that, practically speaking.

Diversification is the only free lunch
The following 11 users say Thank You to DarkPoolTrading for this post:
 
  #5 (permalink)
Elite Member
Dover, Fl
 
Futures Experience: Intermediate
Platform: Ninjatrader
Favorite Futures: CL, NQ, YM, ES, GC
 
dnkhoward2's Avatar
 
Posts: 151 since Mar 2013
Thanks: 838 given, 156 received

I think there should be a full disclosure for people who have threads that are trading on sim.

There are a lot of new traders here. And I see a lot of newbie traders signing up all the time. People are encouraged and applauded when they start new journals. Do you really want to make this an unfriendly place for people just starting out and trying to find their way? That will really limit new signups I think. Just make them disclose weather in sim or not.


Last edited by dnkhoward2; April 10th, 2014 at 01:58 PM.
The following 7 users say Thank You to dnkhoward2 for this post:
 
  #6 (permalink)
Membership Temporarily Revoked
Portugal, Viana do Castelo
 
Futures Experience: Intermediate
Platform: ninjatrader
Favorite Futures: 6e
 
Posts: 358 since Sep 2011
Thanks: 187 given, 343 received

Great poll

I think we have too implement some rules too overcome this problem, for example:
1: only charts with plot executions on are allowed
2: post weekly Generated account performance from trading platform.

A good example of the bad behavior you can see in this thread:
https://futures.io/elite-trading-journals/17308-trading-futures-context-1071.html
If you ask for proof he just puts you on the starters ignore list.

And here is a member that was doing a TST Combine but failed several and now is posting in that thread from mfbreakout : https://futures.io/trading-journals/28431-logical-trading-journal-22.html#post383024 see post 215.

Whit regards too the starters ignore list I think that that has too change too. A member cannot put you on a starters ignore list just because he do not like the question. I think we have too make a request too Big mike or Sam so they can see if there is a reason too put the member on the starters ignore list.

If you do not show all the trades and only show winners then I have no clue way someone is keeping a journal here.

The only way we can learn from our behaviors is by exposing our self's!

The following 8 users say Thank You to jsengxx2 for this post:
 
  #7 (permalink)
Membership Temporarily Revoked
Portugal, Viana do Castelo
 
Futures Experience: Intermediate
Platform: ninjatrader
Favorite Futures: 6e
 
Posts: 358 since Sep 2011
Thanks: 187 given, 343 received


dnkhoward2 View Post
I think there should be a full disclosure for people who have threads that are trading on sim.

I think it is not important if some one is trading sim or real money but the journal must include all trades executed and the only way too implement this is whit strict posting rules, charts with plot executions, weekly account performance etc..

The following user says Thank You to jsengxx2 for this post:
 
  #8 (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, 83,215 received

Let me say that first I believe there are only a very tiny number of these users on the forum.

And let me make it clear I am only interested in the ones who use their postings as some sort of "rock star" status, where they are posting big gains, rarely if ever post losses, and they end up amassing a following of inexperienced users some of which are actually trading real money and trying to emulate the "rock star" that is on sim. Inevitably, they end up losing a lot of money and waste enormous amounts of time.

I realize that trading includes a great deal of learning curves, but in this example I am talking about what I want for my community -- and just like if someone was in my house and just BS'ing over and over again, making things up, that I would ask them to leave - same is true here in my opinion. But of course in person you can tell a BS'er much more easily, whereas on a message board it can be far more difficult.

Also imposing all kinds of new rules is not going to happen because there are hundreds of journals, and there is no way to enforce such things. Besides, just because a trade is marked on a chart doesn't mean it was cash. Same goes for a performance summary.

The point really boils down to what these traders do to the community. They give it a bad name from the more experienced traders. What other side effects because these people are allowed to continue? Of course there are ramifications from those that try to follow them in good faith and don't know any better.

I am specifically talking about the posters who post multiple times per day making these "trades" as if they were actually trading them (cash), when in fact they are not.

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 12 users say Thank You to Big Mike for this post:
 
  #9 (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, 83,215 received

And just in case I wasn't clear, if a poster makes it very clear they are on sim (like their chart says sim, or DOM says sim, or their post says sim, or thread title says sim) then I have zero issue.

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 3 users say Thank You to Big Mike for this post:
 
  #10 (permalink)
Membership Temporarily Revoked
Calgary Alberta/Canada
 
Futures Experience: Advanced
Platform: TDWaterhouse
Favorite Futures: stocks (long term)
 
Posts: 934 since Feb 2014
Thanks: 180 given, 777 received


hmmmm....I hope I am not considered to be one of "THOSE" posters.

I am 50/50 as far as simulations go I suppose. I use real charts and make real decisions and post those decisions before they happen. So from a learning perspective, I would hope that my posts are instructive to newbies. The only thing fake in this is the money involved. I have given myself $100,000 of play money. I record and display all transactions updating the status of this play account using real data at least every Friday.

I am always suspicious of posters who post their trades only AFTER the event has occurred...no analysis leading to the trade beforehand. Twenty - twenty hindsight does nothing.

PS: the trades that I have shown are real sizes for me as well...nothing fake there either.


Closed Thread



futures io > > > Should sim traders who pretend to trade cash be allowed on BMT?

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
Real traders or just SIM traders? patidar Traders Hideout 13 February 5th, 2014 09:02 PM
Our "Let's Pretend" Economy: Let's Pretend "Job Growth Is Best Since 2006" kbit News and Current Events 0 March 9th, 2012 03:15 PM
SIM to LIVE trading for traders with history greenr Psychology and Money Management 14 December 15th, 2011 11:07 AM
Sim Trading vs. Cash Trading Big Mike Psychology and Money Management 18 June 10th, 2010 12:12 AM
Introduction: Sim trading S&P with Ninja traders SOM123 Traders Hideout 5 December 13th, 2009 11:27 AM


All times are GMT -4. The time now is 01:33 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 0.15 seconds with 20 queries on phoenix via your IP 54.145.16.43