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This is fantastic. Love the clean, straightforward interface. However I have a feeling that anyone knowledgeable enough to profit from this is probably already
by ukoki 14y ago
This is fantastic. Love the clean, straightforward interface. However I have a feeling that anyone knowledgeable enough to profit from this is probably already heavily invested in another system for doing these calculations and/or feel the rules system isn't flexible enough. One thing you could do is to implement sharing. ie, have a list of "top performing strategies measured from date of creation". Then let users subscribe to other users' "proven" strategies for a fee - you take half and the author takes half - this could be an alternative way to monetize the site as well attract the kind of people who make a living doing this - ie the kind of people you want talking about your product.
- startuprob 14y agoThanks for the great feedback. Do you think people would be too protective of their strategies to participate though?
- mikecsh 14y agoYou could keep the strategy hidden but allow users to follow the output signals. There are some sites which already do this or similar for both fundamental and technical strategies. Motley Fool comes to mind: http://caps.fool.com/ http://caps.fool.com/
- startuprob 14y agoThat's a very interesting idea. We've looked at Collective 2 and Currensee as they've done some similar things. Very interesting...
- mikecsh 14y agoStocktwits also has some similar vibes, there are a few others and I can't remember the specific one I was thinking of right now.. http://stocktwits.com/ http://stocktwits.com/
- startuprob 14y agoYeah, we love stocktwits :)
- ukoki 14y agoPossibly. If you integrate with a trading platform you could always let other users subscribe to a strategy without knowing what the strategy is (eg they only know it's gained X% vs the S&P 500 in the last few months, the author's profile and that 5000 other users have 5MM invested in this strategy). However I have a feeling that a) the money from commissions and b) the feeling of being at the top of a list will compel a lot of people to share their strategies - people blog about their stock picks constantly. Also I'd love to see some left-field data about these companies eg: Google search volume, Wikipedia edits/day, mentions on Twitter, press releases, sentiment analysis of news articles etc...
- mdupenois 14y agoIt's funny that you mention it because, as Rob said, we've been playing with the idea of adding a competitive edge, but the commissions is a cool idea. We were also considering a kind of achievements approach as well as a leaderboard but want to try and keep the idea of it as a tool as opposed to a toy. Love the data idea, in fact surplus of data is already a bit of an issue; we're running out of screen real-estate.
- ukoki 14y agoof course - the alternative is to not share anything. With the data you have on your users, once you can isolate users who consistently come up with strategies that consistently make money after their creation date - well, you might as well set up a hedge fund on the side and give the product away for free.
- mdupenois 14y agoHah, yeah, unfortunately the legal team at the incubator we're in suggests we might not survive too long as a company if we go down that route :)
- shyn3 14y agoYour data is going to be insanely valuable if you can get good analysts working on your platform. I was wondering if you could elaborate as to why they feel this way? I would love to know that the top X % of traders are willing to play with my money in a transparent manner.