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We will want to have some rules in place for accountability purposes. This will help avoid most of the awkward confrontations that will likely arise when members post their trades.
This is not like the TSP where we all have a 12 noon deadline, and buy and sell one of 5 to 10 funds at a closing price.
Current rules: http://www.etftalk.com/forum/showthread.php?t=362
Please share your comments, ideas, and suggestions.
Thanks!
Tom,
Could you setup an account for each participant to post the trades they make during the day with say a cutoff time in the evening?
Maybe even setup an account with a value of $10,000 and no margin to keep track of the gains/losses. That might be harder to do since there is so many ETF's and stocks. I suggest no limiting trades to just ETF's.
Sure. I'll make one for you, and do it individually as requested for each member. I will start each account with $10,000, and we'll see how that goes.Quote:
Originally Posted by Gumby
Right now, this is not set up as a contest, just a tool to watch each other trade, and to talk about the trades. Maybe some day it will evolve into that, but for now, let's use it as a useful trading tool.
I added this to the rules:
- When closing a position, please use the quote feature to reference the original opening positions(s).
See example below:
Example:
Just sold ETF @ 61.02Quote:
Originally Posted by etftalk
+35.1%
* A link (the small arrow in the quote) to the original trade is automatically inserted this way
Added this rule to the Monday morning quarterbacking rule:
- Moreover, please post the trade as close to the time of the actual trade as possible.
Not that anyone currently here would do this, but this is to avoid people claiming that always buy the low and sell the high.
If you buy something at 2 PM and post between 2:00 and 2:15, it is easier for us to verify it as a valid trade. It's not the end of the world if you don't (for now) but your credibility won't come into question if you post your trades timely.
Thanks
Tom, re your posting our trades as close to time as possible, today I bought FAZ on a limit order and didn't know I bought it until about an hour after the fact. I have no audible alerts set up on my computer. (It's one of those Vista glitch work-around things.) Anyway, I'll do my best but ....
Maybe if I miss the cut-off I just won't post the trade. That's probably best, huh. :)
Lady
That's all we ask, do what you can.
I have been posting the limit orders so if they do get hit, you can say you were filled. We can then see that the ETF did dip to that level at some point after the limit order post.
I don't want to be too much of a stickler right now, but some day we may have the contest thing going with several traders and we'll need good guidelines.
When TSP Talk started, every other new member seemed to be in the the best fund since the bottom. We finally had enough and used the posting with the noon deadline as a requirement, and what do you know... the magic returns came down to earth. :)
LOL! :bigsmile:Quote:
Originally Posted by etftalk
Tom
I'm thinking of putting my training wheels back on and doing some paper trading. Have you given any thoughts to specific to this? I don't want my paper trades to count against my real trades. :)
No worries. As long as your trades are posted fairly timely, it doesn't really matter if they are real or paper trades. We haven't really verified trades or tallied total returns so I don't think it matters right now. Post away! :)