Online trading group/club
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     davkell
Member
Username: davkell
Post Number: 460
Registered: 07-2004
Rating: N/A
Votes: 0
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| | Saturday, October 07, 2006 - 12:14 pm: |  
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Hi all;
I am seeking your interest in an idea I've been contemplating. What would be your interest in an online trading group/club, similar to ones people organise where they meet, collate funds and trade their ideas?
What I am looking at, is the possibility of a group of us (IC members) putting in a set amount of trading capital each (probably something like a modest $1000) and then getting together online each night (or trading day if you're online) and determining trades based on each of our own trading methodologies. Of course, this would require a moderator or two, someone who has control of the funds and the trading account. We could establish the proper rules to trading incorporating money management and position sizing so as to minimise the risk to the account.
Might take a bit of work to set-up, but could be an interesting concept to be involved in.
Just seeking input as to the viability of such an idea at this stage. I look forward to your replies.
Cheers.
"Trade Your Way To Financial Freedom" - Van K Tharp
"Manage the downside; the upside will take care of itself" - Donald Trump
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msparks
Member
Username: msparks
Post Number: 707
Registered: 10-2004
Rating: N/A
Votes: 0
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| | Saturday, October 07, 2006 - 12:46 pm: |
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Hi Davkell
Great Idea, however the online decision making would be difficult to get agreement between all participants.
You could set it up like a punters club, where each participant has 1 trade each week until the all money is invested.
Group rules on exits and targets to keep some money flowing back into the pool to re invest.
Group account with credit union or similar, how do you group account a trading platform ?
Too hard for me,
... but i like the idea of a group tracking good trade setups, and general market directions,might save some of the most precious commodities we have in this world, TIME.
(after agreeing on some hard rules re universe of stocks, and other important criteria decided within the group)
If this is what you want, i would gladly join.
Cheers
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