Should a trading site post an anonymous list of those accounts that have the best/worst trading records?
Should they allow subscriptions to copy the trade executed by those accounts?
Should they give warnings that your trade is similar to one on the hall of shame accounts?
If they gave some of the subscription fees to the people on the hall of fame would that change your mind?
Should they allow subscriptions to copy the trade executed by those accounts?
Should they give warnings that your trade is similar to one on the hall of shame accounts?
If they gave some of the subscription fees to the people on the hall of fame would that change your mind?
No I don't think a trading site should do that, at least not without telling customers before signing up of such plans.
I understand the reasoning behind this though - let people good at trading capitalize on their skills in other ways.
There was a web site I liked to look at, though not participate in, called StockJungle.com which I thought was pretty cool. Unfortunately the site itself closed as they tried to start a mutual fund with picks from members. I think that was the wrong direction. They had what you describe, an index of members with the best and worst trading records. There was one member called GreatSage that had a portfolio up something like 130% in less than a year. I think StockJungle should have sold subscriptions to those member's picks, which were not traded but simply logged on the site.
The closest thing to that now is probably the Motely Fool Caps community.
