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Trading rooms - regulations ?


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Trading rooms - regulations ?

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  #31 (permalink)
San Fransisco + California
 
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No offense but why are you wanting to start a trade room when you aren’t consistently profitable? That is the problem with this industry actually that so many people do that because they want a “trading business” Honorable you want to be transparent in theory, but ethically why coach people in something you yourself aren’t proven to be good at? You could be doing harm to others and their financial well being even if you mean well.

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  #32 (permalink)
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  #33 (permalink)
Miami, FL/USA
 
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bobwest View Post
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While I understand why it might seem that I was "promoting" a trade room, that was obviously not the intention. As stated "I have been thinking for years", meaning that it is a thought I always had. I was just looking for info on what platforms to use, should I decide to do it, what is it that customers like to see in the room, bottom line, general knowledge of what an honest trading room should be and not someone that is trying to scam people.
Anyways my apologies for giving that impression, but I do have a question, since I was obviously not mentioning any room, how is the mention of other trading rooms as it has been posted in this thread, not "promoting" it?
Just curious.
richard

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  #34 (permalink)
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rdelrisc View Post
I do have a question, since I was obviously not mentioning any room, how is the mention of other trading rooms as it has been posted in this thread, not "promoting" it?


rdelrisc View Post
Disclaimer (Just in case this is taken as another promotion): I am NOT promoting any trading room, I DO NOT have a trading room, I DO NOT endorse any trading room. I am JUST expressing my thoughts and gathering (if one can call it that way) preliminary ideas from traders that either use a trading room, do not use a trading room or would like to see a trading room with XYZ characteristics. If I open a trading room, IT WILL NOT BE promoted here. There are more appropriate venues to advertise it. (guess that is more or less all of the disclaimer)

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  #35 (permalink)
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bobwest View Post
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Clear. No problem.

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  #36 (permalink)
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Menaace View Post
No offense but why are you wanting to start a trade room when you aren’t consistently profitable? That is the problem with this industry actually that so many people do that because they want a “trading business” Honorable you want to be transparent in theory, but ethically why coach people in something you yourself aren’t proven to be good at? You could be doing harm to others and their financial well being even if you mean well.

I answered your question Menaace, but the post was deleted. So for peace sake, I'll leave it as it is. Anyways it is just an idea, that was all.
But your points were valid and there are answers for it.
Take care and good trading
Richard

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  #37 (permalink)
Philadelphia PA
 
 
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Wow.....this thread was just decimated by over-moderation IMHO. I was just hoping to get a few references to some decent trading rooms where real trades are shown. Instead, I got one reference. Pathetic.
I think I need to re-post my original post on https://www.elitetrader.com/. Information flow is really crimped on this site.

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  #38 (permalink)
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Good luck distinguishing between all the stealth vendors over there, if you can stand the trolls.

I'm sorry you consider it "over" moderation, but in fact if you poll our members what you'll find is moderation is what sets us apart from other communities like ET -- specifically with regards to vendors, because we stand up and say no, call bs, ban and etc when it comes to fake stealth accounts.

WRT this specific deletion, we have a lot of experience in this area that gives us clear data. With all the best intentions, members offer something initially that later morphs into a commercial business. This causes endless headaches, so after dealing with this countless times we decided long ago to just put a stop to it upfront. Period, the end.

We also don't delete posts where vendors are called out for their bad reputation, even under threat or actual lawsuit (see Amp lawsuit thread, we won 25k later). Other sites delete away because they cave under pressure.

Thank you to @bobwest for taking time to moderate and provide explanation.
syswizard View Post
Wow.....this thread was just decimated by over-moderation IMHO. I was just hoping to get a few references to some decent trading rooms where real trades are shown. Instead, I got one reference. Pathetic.
I think I need to re-post my original post on https://www.elitetrader.com/. Information flow is really crimped on this site.

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  #39 (permalink)
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Big Mike View Post
I'm sorry you consider it "over" moderation, but in fact if you poll our members what you'll find is moderation is what sets us apart from other communities like ET -- specifically with regards to vendors, because we stand up and say no, call bs, ban and etc when it comes to fake stealth accounts.

Mike: Moderation has got it's "price" i.e free information flow. That was so obvious in this thread. I received zero value from it. The intention of the thread was honorable......and there were no obvious trading room vendors posting here either. Your moderators need more rules and less discretion IMHO.

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  #40 (permalink)
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I'm not sure if you meant less rules more discretion, or vice versa...? But just to let everyone know, we discuss most issues like this as a team on Slack prior to taking action, to get multiple perspectives covered.

Anyway, I learned years ago it's impossible to make everyone happy. Instead, we do what we think is best for the community as a whole.

There is a lot of value in the thread. The take away could be summarized in my opinion: no regulation prevents live cash trades, most rooms are a complete joke and take advantage of rookie traders, most traders still fall for concepts like "if we don't make xyz(cost of room) then you don't pay", which is complete BS in real world and falls into post-analysis hindsight 20/20 category. A real brokerage statement is more valuable but even then not a perfect picture by any means.

Let's do this: if you or anyone else wants to continue the conversation on moderation, please create a new thread so we stop deviating off-topic here.

Have a good weekend.
syswizard View Post
Mike: Moderation has got it's "price" i.e free information flow. That was so obvious in this thread. I received zero value from it. The intention of the thread was honorable......and there were no obvious trading room vendors posting here either. Your moderators need more rules and less discretion IMHO.

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