wouldn't that be awesome, we can see both live and demo accounts historical trades, i.e on H1 chart 50 traders opened a trade at 7:00 AM EST
a free or premium alert system/signals service could be developed based upon a set number of opening trades and closing trades, we are all using differings manual strategies and testing many EA's/robots, combining this data in realtime from all/user selected systems would provide a very very solid foundations for a new and innovative breed of signals service.
example: 1.user can select all systems or subscribe to selected systems 2.alert is twittered when say 50 trades are all opened on EUR/USD within 1-5 mins of eachother, with a combined average stoploss/target profit calculated between those 50 opened trades, very powerful indeed. 3. user can either select default settings, or for instance, only send alert when 25%/50%/75%/100% of the systems subscribed open trades simutainously, within this timeframe 4.overall selected/subscribed combined systems performance as is the current individual account analysis
this would pave the way to community trading, raising the winning odds, allows forex newbies to learn from the experts, or generally help in making trading,decisions.
many other features could be impliemented along with live charts, candlestick pattern recognition alerts and so on.
im a bit tight when signing up to subscription services, but this is one i'd dive straight in for, if the service was around $10-20 per month, you have the data, the subscribers, twitter intergration, mt4 intergration. What are waiting for!! :-)
i love this website, so dont go giving up on us all now!
And I'd stop sending my signals 1 second after the first broadcast!! I use this site to demo my signals to prospective clients NOT to give them away in any form for cash that doesn't end up in MY pocket!! OR I'd just adjust the updates for every 4+ hours. (of course if they ever decided to go wacky and program this idea they could just allow traders to opt-in or out of the broadcast)
There IS something that can show you what the herd thinks in real-time though. Try https://stocktwits.com - Create a portfolio or the symbols you like with a $ in front of them ($EURUSD, $GBPUSD, etc..) - The $ makes them search terms - Click and portfolio symbol and you'll get a LIVE list of traders twittering their trades. VERY Kool Service. See this link to check out what $EURUSD would return - [https://stocktwits.com/t/EURUSD]
i can understand those who wish to keep there signals private, afterall privacy is important, but a hive of systems that are running EA's, thats powerful, if many different EA's are giving the same que.
The other reason i thought of hive trading, is for the lesser experienced trader or complete newbies. remember the market's direction and execution is a result of crowd behavioural decisions and crowd psychology, the crowd that moves the market are also a combination of robots and manual tradesr.
i can understand that Fulltime247 wouldnt want to share his/her success of years of knowledge, especially if you attain a +80% win ratio. but if we had the oportunity to have a borg style of hive trading with a mix of robots and manual realtime newbies, but as a hive manage to attain a +90% win ratio as a direct result of hive trading, wouldnt you be interested or curious?
afterall, if you were so curious of the hives success, combining your own high success ratio surely this can only mean attaining an even higher win ratio across the hive of trading systems?
for those mainly interested in EA's, we currently can't combine megadroid,fapturbo,ivybot, but in hive formation we can, if all systems give the same signal to go long or short of this or a basket of pairs, thats better than any single robot, but their not human and cant read news ,hehe.
it's an interesting idea and possibly a good idea for maybe an experiment, can a group of newbies really trade like pro's if trading as an interactive hive?
can a hive of EA's really out trade a human pro?
we have cloud computing, combining the power of many nodes to one single task. maybe myfxbook with the way its built can use systems as trading nodes, essentially all combining to conclude a single decision.
ubernova, you raise an interesting concept, but I don't think it will work as you think.
Let me explain: Statistically speaking, if you have a winning ratio of 80%, you can't know how this 80% spread on overall trades. So you can say that out of every 10 trades you win 8, but you can't determine which ones of the 10 are the 8 which will make you money. So although you have an 80% of win ratio over 10 trades, if I would have told you to tell me which ones will be the winners, you have a probability of 50% to get it right.
This brings me to my next point - combining for example two systems, one with 80% and one with 90% success rates, doesn't necessarily mean you will get a system which will have an average success rate of the both combined. So if two systems 'agree' on the same signal, it doesn't necessarily increase the chance for the trade to be a winner.
Now as Elkart proposed, Currensee already do it, yet again I think it has no use. Besides what I've written above, take into account the fact that 95% of traders lose money, using user's data for trading has absolutely no value, because again you don't know who are the 5% who make money.
And if you think to use the gathered data as a trend indicator, again I believe it's useless as the markets are moved with money, and private traders probably trade less than 1% of the daily volume.
Now I could be wrong (though I'm probably right <img src='' alt='<img src='' alt='😀'/>'/>), so please correct me.
You're miss informed. The $ sign makes it post to stock twits, the # makes it a keyword for search.
When you set up your portfolio ON STOCKTWITS you use the $EURUSD. That way on Stocktwits I just go to my portfolio ON STOCKTWITS and select EURUSD - I only see posts that have $EURUSD in them. That way it filters out posts that are just casual chat about EURUSD and I see mostly action posts where people are buying or selling the EUR. (since traders make sure they put the $ in front of the symbol) - My post says: 'Try https://stocktwits.com - Create a portfolio of the symbols you like with a $ in front' - This is for creating a searchlist ON STOCKTWITS - Not how to properly broadcast from here.
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