you really sound interested. Judging from your apparent high IQ the only reason can be that you believe this is actually a business model which could make money (full information to positions, order flow)...I doubt it ever takes off the ground in a meaningful way, the drawbacks to the "client" are just too obvious...
There is a million methods by which to game the system. You open another account with zero access to banking and fund it small. Allows access to any pooled data. I already receive Oanda's "positions of traders" data, which is provided free of charge on their website. Simply curious.
please do not try to convince me that there is any value whatsoever to see the pooled data that Oanda or others make available to the "dumb public". Its entirely different from what Oanda itself sees and how they may act upon.
Atticus, and that is exactly what everyone else, with an iq>100, i thinking and gonna do, or you think they will expose their regular account to someone over the internet? Do you expect the few dummies who actually fully expose their trading account to generate money or order flow information that would be in the slightest valuable to you? I can already tell you where all their levels are lying, and so should you. Is it a huge surprise to bet big with positive expectation on a break of support or resistance most of the time? What happens right after is an entirely different story...
It's a curiosity is all. As I say, we can all access pooled position data for free through Oanda. It's mildly curious that one could access a potentially much larger pool of data. Unfortunately, Oanda's sample has to be an order of mag larger than what is currently available at currensee. I can't make heads or tails of the IB-model. I simply don't see the upside for the end-user, or any persistent revenue generation for the company. Obviously, I am in the minority opinion if they received $6MM in the first-round. We're too predatory not to take perceived advantage, but I really don't see how any of the info gleaned could be terribly useful. I trade with a small, profitable group and we have access to each other's runs, but honestly, the runs are of little value. I don't need to get that info vetted.
You don't say... That's a nice serving of fail right there.. Have these traders ever heard of stop orders? Average entry on EUR/USD longs nearly 600 pips above the current spot price! :eek: :eek:
You know - we are running this service for almost a year now and in the beginning I had the same impression you have now - these traders are so far from the market how can this be? Then I started looking closely at the data and the changes that occur in the data and I personally don't believe in trading by the sentiment either as an indicator or contrarian indicator but there are very interesting situations that have a high probability of indicating market extremes and are an excellent indicator for large trend reversals if this is your type of trading. Here are two examples that we've identified. 1) It seems that gap between the open Short and the open Long average prices has a tendency to always try to shrink and it's based on where the current market price is that indicates to which direction it will shrink - for example right now on the EUR/USD there is a huge gap between these numbers and the market was just below the open price of the Short traders meaning that it has a high likelihood of changing direction to close the gap between the open Short and open Long. 2) It seems that in normal market conditions, the average long is higher than the average short meaning that the market can be in a place where either the short win and long lose, short lose and long lose or short lose and long win. In some situations the open short is above the open long - this means that the market can be in a place where both long and short traders are making money - these situation have an extremely high tendency to correct themselves by the market sharply moving to one direction. The study of social analysis is not new and what Currensee brings to it is first of all a much larger sample of traders coming from more than 150 brokers. And the most important thing is that what we provide is real time access as oppose to the COT/OANDA or FXCM SSI which are end-of-day or end of week data. -- Asaf.
So is anyone following some of the Trade Leaders on Currensee? It seems that those traders are for real and have a track record back to mid 2011. I see all kinds of interesting equity curves, that is the most valuable information if you want someone to trade your money - what they have actually made and at what risk. They seem to have changed their initial business model from getting paid by the brokers to getting a 20% from the followers profits. That may seem like a lot, but they pass 15% of those 20% back to the money managers. So I was wondering, if I should be a money manager and get 15% of the profits of any one following me, or just sit back and let some of the most profitable guys trade my account for diversification. Now thereâs more than one way to skin a cat