Topic: Idea for exchange feature: public profile trade tracking (Read 1172 times)

Simply that it's not needed and they have other infrastructure problems at the moment!

I mean specifically the collating and hosting of the league tables etc. - until Mt Gox has the robustness of other exchanges this is just fluff IMO.

Mt Gox need a desktop client not a webpage, the client could get confirmation the trade was made and pass the data on.

Although it could be done on a daily basis for those who opt-in I suppose but I don't see Mt Gox spending time or money on this in the foreseeable future.

I am all for it in principle though as would Mt Gox be I imagine WHEN and IF they can spend time on bells and whistles

Yep, it's certainly planned, however not until they secure their next round of funding.

Nice! Let me know if they do, looks like a fun app. 

Do they plan on keeping it exclusively an "app".  Any reason not to make it a web app with a responsive theme or at least a web app / mobile app pair?  I find myself at most times with access to a full computer with all the advantages that go with it over a smartphone.  I just can't imagine I'll do much trading while at the bar or driving to and from work.

My friend is a founder of a startup called TradeHero (http://www.tradehero.mobi/)

I've recently suggested they should find a place for Bitcoins in their eco-system.

Other than not thinking the development time was worth it, why do you think MtGox would be against this?  Not that I think you're wrong, I'm just not seeing a downside for them unless maybe you think this would stigmatize them due to angry traders that don't want this kind of information easily and widely shared?

Also yes I'm sure they could have an API share these accounts' trade data, then anyone could build another site to generate the pages for public viewing.  Hell in that case I could probably create something roughly similar to what I sketched out after some more practice/experience with charting in MVC.  It would be a fun project to experiment with and I'm sure fairly trivial for an experienced developer.

You would need to implement at this at client level. There's no way MtGox is going to be receptive to this.

For instance this is possible with Thinkswim my "normal" brokers: your trades can be passed to your profile on a third-party site where it's publicly viewable with league tables etc.

and etoro is going to add bitcoins to play with (well if they are actualy going to do it)
. so that could be interesting

No need to change the words. As a bitcoin user, Gox is fucking you over every other day

My wife and I have replaced the work sex/fuck with "Gox" She walks in, Gox me baby.

Now, getting goxxed is a good thing!

Well the idea was to make this option voluntary.  Not to expose everyone's account to be publicly view-able. 

However point taken that most would have no incentive to share their strategies if they were successful over the long term.  I was thinking of it more as means to collectively discover what works and what doesn't.  Since it's money I should have realized everyone with any knowledge will want to guard it closely in order to maximize the benefit from it.

It was not a well thought out idea, frankly I forgot trading was about capturing Alpha and that it is a zero-sum game.  I don't do much trading and am more interested in the technical aspects of it than trying to get rich.  Mostly I'm just content to buy and hold for Beta.

Thanks I'll check it out.


Well none really I suppose, excellent point.  Very good reason to think this idea would never be that popular actually.

I'd be willing to trade publicly and test out strategies for fun, but then again I don't know what the hell I'm doing and don't have any trading secrets that would be worth guarding.

What incentive is there for one to share their trading strategy?

eToro seems to be doing this already

Oh probably.  Wouldn't that be awesome though to weed through all the junk and see what strategies actually worked which ones didn't?

Plus it seems likely that over time #1 and #2 would not stay the same accounts.  Maybe some strategies better in a bear market over a bull market etc.

Edit: In fact they could even open up commenting and the most popular pages could have discussions dissecting why something was working or not.  I would think this would lead to collaboration on even more efficient strategies for the future.

Actually fitting.  This could be like trade porn.

the top two accounts with the best prediction record

Sorry I'm not sure what #1 and #2 you are referring to.

You would end up with almost everyone following #1 and #2.

Trading is meant to be personal, intimate. Like sex.

Had an idea that I thought would be interesting.  What if an exchange allowed customers to set certain accounts as publicly view-able, where if turned on a link would be generated that would allow anyone to follow the accounts activity.  In this way traders could declare trading strategies, create a public account and let followers see how profitable (or not) they are over time with it.

For bonus points they could even allow notes to be attached to each trade where the trader could briefly explain the thought process behind each trade.  This way a trader could deviate from a stated strategy and explain what circumstances changed to cause them to make this decision.

I could see some some people try to game this, create lots of accounts and trade small amounts then public post the profiles with successful histories.  However once publicly displayed people could continue to track the progress and see if the success holds up over time.

Not sure if there would be enough incentive for an exchange to code this but I imagine they could put some ads and generate income on popular and widely followed accounts.  Plus if lots of new traders followed these and they were only offered by one exchange it would likely push many to use them instead of a competitor.

Here's a quick, horrible image of how I think it might look:



Think there would be interest in this?  Did I not think something obvious through?