A New Concept of Investment Idea Sharing from a 32K Follower StockTwits User

in investing •  8 years ago  (edited)

Hello, I am a professional day trader and investor with a StockTwits account that has a following of 32K users. (You can visit my profile here: SyntecVentures).

StockTwits Profile

StockTwits is a great community of over 1 million active traders and investors from across the spectrum, all the way from the complete beginner to seasoned and licensed professionals. There is also a plethora of individuals or groups selling services to the broader community, ranging from long-term investment advice to short-term scalp trade ideas (in and out, sometimes for only seconds). The services are not associated with StockTwits, but the providers often utilise the platform to evangelise and reach out to potential clients, much like marketers do on FB or Instagram.

Get Rich Quick

Now, it is my personal belief--and I get a lot of flack for voicing it--that a good majority of the service sellers are scammers, preying on uninformed and desperate people who are often times needing supplemental income (like retirees) or even hoping to develop into full time traders, as they may have recently been laid off, etc. Greed is a powerful emotion, unfortunately, which makes people very vulnerable to "get rich quick" pitches.

The sad reality, though, is that less than 2% of all day traders are profitable... A nasty secret these "service" profiteers will never openly admit.

This is why I took it upon myself to join the StockTwits community early on, for the dual purpose of being the very first user to share all my trade ideas for free and in realtime for educational purposes and to serve as a voice of reason, frequently warning users of the pitfalls of the markets, the games that WS plays and very importantly against these scammers.

As I am a successful day trader, I do not need or depend on such service income, yet I share my ideas in an open and honest effort to educate and equip people, showing them it is possible to win in the market. I have also opened a Slack channel (I call Tradesmith) for my followers to be able to interact with me in a more private (less noisy and direct) setting. I even developed a Trade Tracking system for Slack, so that everyone can monitor and follow my results... Looks something like this:

Trade Tracker

Now, I come from an engineering background and have taken a keen interest for the past several years in blockchain technology. In fact, I am invested in a few blockchain/cryptocurrency platforms/assets like bnktothefuture.com and Ethereum, and am constantly on the lookout for new and novel applications to get involved in. This led me, naturally, to the steemit.com community, and I have to say that I am blown away by what #steemit represents and the potential it holds to empower the people!

It also got me thinking about how this platform could possibly be used for sharing trade ideas, much like I do on StockTwits and in my Slack channel. Though I am not seeking personal gain from sharing my ideas, I know there are other traders that are successful that also dislike the concept of selling "services" but may be interested in a platform like this where they could be rewarded for their efforts.

The concept is simple, but may require some enhancements to the platform to support it more thoroughly:

  1. Traders would share trade ideas, using $Cashtags (like in StockTwits and Twitter) to tag the trades into feeds specific to the instruments they are trading in.
  2. If the trade profits, users would up-vote...if a great trade idea, it could get potentially up-voted strongly.
  3. If the trader has consistently profitable trades, they would gain a strong following, potentially increasing returns per successful idea.

With such a system on #steemit, naturally the successful traders will rise to the top and be rewarded the greatest, further giving students exposure to the best traders and their ideas, and the scammers would not survive in this system due to natural selection!

I would be interested in the community's feedback on this. How many would find something like this useful or interesting? Maybe there are other ways to utilise the platform in this manner, but in other fields?

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Holyshit #cashtag is a brilliant idea. Upvoted and following.
Every day Steemit is evolving more and more and the whole paradigm is expanding.
This really is huge.

Good luck with your project!

I'd like hear more about this.

Yea same maybe more info and links. That be great,.

Anything in particular? I would be happy to add anything for clarification... Maybe I can post what an example session would look like?

I shared some of my trade ideas but not much traction. https://steemit.com/trading/@pairmike/traded-aapl-this-past-week

I'm going to check out your slack channel.

Your link to the slack is not working. Will you repost?

Hmm... it may be due to the settings... Right now I have it on email invite.

Maybe it is the format? Also, it may take time to get enough users that are traders on steemit to make a difference? When I post trades, I use a very specific format that is easy to parse/follow for my tracker bot and followers.

I look forward to seeing it. Keep me posted. I'm Pairmike in the Steem slack.

All sounds great. How do I access your slack channel to monitor your trades?
Edward.