Is this a trading simulation... more like trading without real money for just learning purposes? Is that what you mean by "Play Money"?
Asumming this is demo trading, you could maybe experiment with trading competition and auto rewards for users with points/tokens as they progress while learning how to trade
Topic: I am developing and designing an exchange and looking for some suggestions! (Read 490 times)
October 29, 2020, 11:13:06 AM
October 20, 2020, 02:56:47 PM
When it comes to simulation platforms then there are lots but creating another one and tending to teach up some noobs then this wont really be a bad idea.
Site design isnt half bad either but as suggested it would be good if technical indicators or tools are complete like SL or TP's will be a good add up.
Site design isnt half bad either but as suggested it would be good if technical indicators or tools are complete like SL or TP's will be a good add up.
I second this. It will be useful for newbies to have an exchange with trading indicators and signals laid out with margin and a fake balance, to avoid making a pointless demo account with some broker, and most brokers you can make demo accounts on for free aren't focused on cryptocurrency trading anyway. I admit indicators may be a difficult feature to implement because they have to be exactly right to be useful, there aren't a lot of open-source implementations of indicators you can reuse or APIs you can connect to that don't cost a lot of money, and of course even without these problems, all of this is a lot of work for one person. So implement what suits you.
I have recently come to this stage of the project and I certainly agree that it will be a nice feature to add so it's also something i'm working on. I totally agree on all fronts regarding other platforms, it seems you have to dive straight into real money trading which can be rather daunting hence why I thought a 'play money' version of a live exchange would be useful for beginners.
August 26, 2020, 03:00:46 PM
I’m developing and designing an exchange and I wanted to gather some suggestions from the community! Here is a little preview of it:
I’m creating a free and open source exchange that will be based on ‘play money’. I thought this could be useful as a lot of the time, beginners are thrown right into the deep end when signing up to most exchanges. With an exchange that only deals with ‘play money’, users can get a feel of what it’s like to trade with Cryptocurrencies. It’s just a little side project but I thought it could perhaps be useful.
So, I wanted to gather some suggestions on what confused you when you signed up to an exchange as a beginner?
I’m creating a free and open source exchange that will be based on ‘play money’. I thought this could be useful as a lot of the time, beginners are thrown right into the deep end when signing up to most exchanges. With an exchange that only deals with ‘play money’, users can get a feel of what it’s like to trade with Cryptocurrencies. It’s just a little side project but I thought it could perhaps be useful.
So, I wanted to gather some suggestions on what confused you when you signed up to an exchange as a beginner?
I help a lot of people to register with Exchanges and most of them just need a platform to buy and sell bitcoins for personal use, they do not want to use exchanges to be full-time traders. I think a lot of this has to do with the complexity of the trading concept and all the different trading strategies and jargon linked to it.
This will be a nice tool for them to grasp the basics, without having to risk any of their own capital, so thank you for that. One of the biggest mistakes that most of the newbies does, is to forget about the trading fees. (They make a bunch of small trades, with small margins and then most of the profit are absorbed by the exchange fees that are charged.
Thanks for the suggestion! I totally agree (regarding the fees that newcomers are unaware of) and I do notice that very often particularly with friends/family. I'll make sure to add a feature whereby users can be notified of the fees from major cryptocurrency exchanges so they get an idea of what it's like.
August 25, 2020, 06:09:09 PM
When it comes to simulation platforms then there are lots but creating another one and tending to teach up some noobs then this wont really be a bad idea.
Site design isnt half bad either but as suggested it would be good if technical indicators or tools are complete like SL or TP's will be a good add up.
Site design isnt half bad either but as suggested it would be good if technical indicators or tools are complete like SL or TP's will be a good add up.
I second this. It will be useful for newbies to have an exchange with trading indicators and signals laid out with margin and a fake balance, to avoid making a pointless demo account with some broker, and most brokers you can make demo accounts on for free aren't focused on cryptocurrency trading anyway. I admit indicators may be a difficult feature to implement because they have to be exactly right to be useful, there aren't a lot of open-source implementations of indicators you can reuse or APIs you can connect to that don't cost a lot of money, and of course even without these problems, all of this is a lot of work for one person. So implement what suits you.
August 25, 2020, 03:04:07 PM
Since this is some kind of learning experience for beginner traders I think it would be great if you add in some kind of forum style discussion page where people discuss their analysis on each trade they will be doing. By adding that I think users will not only learn from trading directly but also learn actual technical analysis from other members. Best example I can think of is what tradingview is doing in each cryptocurrencies where they talk about their own analysis on each pair. Here is an example for Bitcoin.
I think a forum would be a great idea. I could integrate that onto the website in Laravel.
What type of topics would you suggest?
I'm not really suggesting a forum here but just a dedicated page or a community for each trading pair you have. For example if you have a BTC/USD in your exchange it would be nice to see what others are saying about that particular pair and also to see all of their analysis with it, yeah sure we won't be eliminating biases and we might see some users trying to influence others but the thing is for any experience traders they can always verify their analysis on their own. Having some kind of separate forum will just make you stray away from your main objective IMO.
August 25, 2020, 09:24:05 AM
This is great, I wish I had something like this when I first started.
What really helped me at first was the different types of trader that you could be, as I didn't know how much of my time (and money) to invest into this. Reading abouto ther peoples experiences helped, knowing to expect the unexpected and to not be too upset should you lose.
I would suggest little explanations or defintions for each section of the platform or a little Wiki about trading with all the different types of traders and stategies.
I will definitely recommened something like this to my friend who are starting out!
What really helped me at first was the different types of trader that you could be, as I didn't know how much of my time (and money) to invest into this. Reading abouto ther peoples experiences helped, knowing to expect the unexpected and to not be too upset should you lose.
I would suggest little explanations or defintions for each section of the platform or a little Wiki about trading with all the different types of traders and stategies.
I will definitely recommened something like this to my friend who are starting out!
August 24, 2020, 09:17:33 AM
Thank you
August 22, 2020, 03:04:28 PM
I’m creating a free and open source exchange that will be based on ‘play money’. I thought this could be useful as a lot of the time, beginners are thrown right into the deep end when signing up to most exchanges. With an exchange that only deals with ‘play money’, users can get a feel of what it’s like to trade with Cryptocurrencies. It’s just a little side project but I thought it could perhaps be useful.
So, I wanted to gather some suggestions on what confused you when you signed up to an exchange as a beginner?
So, I wanted to gather some suggestions on what confused you when you signed up to an exchange as a beginner?
Are you creating an exchange when we can trade with play money only and it will only be for the training purpose ? Will there be no option to deposit real money and trade ?
If this is true then it is a very unique idea and you exchange will become much popular because all the newbie traders like to have a live platform where they could test their trading skills on the live data with play money.
August 21, 2020, 11:45:54 PM
When it comes to simulation platforms then there are lots but creating another one and tending to teach up some noobs then this wont really be a bad idea.
Site design isnt half bad either but as suggested it would be good if technical indicators or tools are complete like SL or TP's will be a good add up.
Site design isnt half bad either but as suggested it would be good if technical indicators or tools are complete like SL or TP's will be a good add up.
after you gathered enough suggestion, hope it will be available for public testing? I am seeing this to be game changer.
Game changer? Its just a simulation one unless if he would really consider on making it a live one.I think adding many exchanges support is good fiche. Because users can get bast prices and making arbitrage.
This is a website that would have that exchange list for you to compare between exchangers.You can try to search up and you will find the difference between a simulation site and a exchange list with specific details.method using many exchanges - buy BTC at ex1 for 10000, after sell BTC at ex2 for 10080, and do it 3650 times in 24h.
August 21, 2020, 11:40:36 PM
When it comes to simulation platforms then there are lots but creating another one and tending to teach up some noobs then this wont really be a bad idea.
Site design isnt half bad either but as suggested it would be good if technical indicators or tools are complete like SL or TP's will be a good add up.
Site design isnt half bad either but as suggested it would be good if technical indicators or tools are complete like SL or TP's will be a good add up.
after you gathered enough suggestion, hope it will be available for public testing? I am seeing this to be game changer.
Game changer? Its just a simulation one unless if he would really consider on making it a live one.I think adding many exchanges support is good fiche. Because users can get bast prices and making arbitrage.
This is a website that would have that exchange list for you to compare between exchangers.You can try to search up and you will find the difference between a simulation site and a exchange list with specific details. August 21, 2020, 11:31:03 PM
I think adding many exchanges support is good fiche. Because users can get bast prices and making arbitrage.
August 21, 2020, 05:03:55 PM
after you gathered enough suggestion, hope it will be available for public testing? I am seeing this to be game changer.
August 18, 2020, 06:28:36 AM
I’m developing and designing an exchange and I wanted to gather some suggestions from the community! Here is a little preview of it:
I’m creating a free and open source exchange that will be based on ‘play money’. I thought this could be useful as a lot of the time, beginners are thrown right into the deep end when signing up to most exchanges. With an exchange that only deals with ‘play money’, users can get a feel of what it’s like to trade with Cryptocurrencies. It’s just a little side project but I thought it could perhaps be useful.
So, I wanted to gather some suggestions on what confused you when you signed up to an exchange as a beginner?
I’m creating a free and open source exchange that will be based on ‘play money’. I thought this could be useful as a lot of the time, beginners are thrown right into the deep end when signing up to most exchanges. With an exchange that only deals with ‘play money’, users can get a feel of what it’s like to trade with Cryptocurrencies. It’s just a little side project but I thought it could perhaps be useful.
So, I wanted to gather some suggestions on what confused you when you signed up to an exchange as a beginner?
I help a lot of people to register with Exchanges and most of them just need a platform to buy and sell bitcoins for personal use, they do not want to use exchanges to be full-time traders. I think a lot of this has to do with the complexity of the trading concept and all the different trading strategies and jargon linked to it.
This will be a nice tool for them to grasp the basics, without having to risk any of their own capital, so thank you for that. One of the biggest mistakes that most of the newbies does, is to forget about the trading fees. (They make a bunch of small trades, with small margins and then most of the profit are absorbed by the exchange fees that are charged.
August 13, 2020, 07:40:33 AM
Since this is some kind of learning experience for beginner traders I think it would be great if you add in some kind of forum style discussion page where people discuss their analysis on each trade they will be doing. By adding that I think users will not only learn from trading directly but also learn actual technical analysis from other members. Best example I can think of is what tradingview is doing in each cryptocurrencies where they talk about their own analysis on each pair. Here is an example for Bitcoin.
I think a forum would be a great idea. I could integrate that onto the website in Laravel.
What type of topics would you suggest?
August 11, 2020, 12:26:45 PM
For me
The only thing I think exchanges are lacking is a dark/white mode
If it’s implemented on yours
Your exchange would really be a blast 🔥
The only thing I think exchanges are lacking is a dark/white mode
If it’s implemented on yours
Your exchange would really be a blast 🔥
Thank you! I will make sure to add that
. August 11, 2020, 10:36:57 AM
Since this is some kind of learning experience for beginner traders I think it would be great if you add in some kind of forum style discussion page where people discuss their analysis on each trade they will be doing. By adding that I think users will not only learn from trading directly but also learn actual technical analysis from other members. Best example I can think of is what tradingview is doing in each cryptocurrencies where they talk about their own analysis on each pair. Here is an example for Bitcoin.
August 08, 2020, 09:49:58 PM
.......
So, I wanted to gather some suggestions on what confused you when you signed up to an exchange as a beginner?
Most websites would put settings and register, login/out option at the top right section. I don't know the reason why you put it at the bottom left and it's probably not as confusing but it could be bothersome when looking for it. So, I wanted to gather some suggestions on what confused you when you signed up to an exchange as a beginner?
August 08, 2020, 03:23:40 PM
So you want the design to be a cryptocurrency simulation site? There are a lot of simulations through which can help you to develop your project, search on Google and you will find more.
I do not see a need to create a wallet, but updating the account (sign up or use cookies) is sufficient.
Since you want to teach beginners to trade, some things should be added, such as stop orders, as they reduce losses.
I also believe that beginners should be taught how to deal with trading view charts and some educational articles on technical charts, trading strategies, and more.
I do not see a need to create a wallet, but updating the account (sign up or use cookies) is sufficient.
Since you want to teach beginners to trade, some things should be added, such as stop orders, as they reduce losses.
I also believe that beginners should be taught how to deal with trading view charts and some educational articles on technical charts, trading strategies, and more.
August 08, 2020, 06:54:45 AM
Looks great. I would have to agree that a light mode would also be good.
My biggest headache when I first used exchanges was the sign up process.
My biggest headache when I first used exchanges was the sign up process.
August 07, 2020, 12:33:37 PM
Thanks for the suggestions!
A light/dark mode is definitely a good idea and something i’ve planned to do. I’m also building a step by step tutorial and i’ll do this hovering over certain features.
A light/dark mode is definitely a good idea and something i’ve planned to do. I’m also building a step by step tutorial and i’ll do this hovering over certain features.
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