1) I couldn't find a better forum to post this other than WSNews. 2) I would have liked to post this on BMT, but then he will ban me. So, I didn't post it there. There are good things about BMT, but then as I said, negatives far outweigh the positives on that forum. 3) Baron - My intention with this thread is to show posters a different view of BMT than the current hype about that site. However, I do realize that this thread might "instead" result in free publicity for BMT. I will leave it upto your judgement. If in your experience/wisdom you think this will result in free publicity for BMT, feel free to delete this thread in its entirety. My point has been made. Peace.
So far I think the thread is favorable to ET. I expect it will stay that way, and hence is a net plus for ET. Also the title is discreet. Since the thread has now been linked to in a discussion thread on BMT, it will be really interesting to compare the two threads.
Patak Guys. This was the thread: http://www.elitetrader.com/vb/showthread.php?s=&threadid=248337&perpage=6&pagenumber=1 Sorry it is nowhere close to 500 pages, it is much smaller than that. Not sure how I remembered it to be 500 page thread. However, there were 3 or 4 threads on Patak going on at ET simultaneously few months back.
The last time I counted it was about 140 pages over 4 threads. You are suffering from 'good old days' syndrome, as "in the good old days I started a thread that ran to 500 pages".
I have been told that the guys over at BMT are discussing this thread. LOL. Big Mike - I am not coming to BMT to discuss shortcomings of your site. If you want to discuss that, you please post here. Anyways, I will respond to major points very shortly: Vendor & Banning Policy & Freedom of Speech Big Mike many a times can appear (intentionally or unintentionally - I don't know) that he is favoring some vendors. Yes, from time to time he ban vendors, but many a times - it is hard to argue with any vendor on that forum freely. Because you are under constant thread that you might get banned and the 50$ you paid for elite membership might disappear in thin air. An example: I created this thread on shortcomings of MC. I can do that freely here on ET without any repercussions. And supposedly members at BMT are smarter than ET members. LOL. Why was this thread not created on BMT. You know why - Big Mike? Because - because as soon as anyone will start a thread there with shortcomings of MC, you will yourself show up and start typing how MC is a much better software than your erstwhile buddy NT. And what all good things MC can do. You have done this in past - go read your posts and you have been threatening and aggressive. Baron never interferes which is as it should be. A user of a forum should have rights to question any vendor and should be allowed to engage in "hard" and "intense" discussion with any sponsor - only requirement should be that the language remain respectful. Btw, when serious discussions happen in serious forums here on ET - moderators ensure that language is decent - Magna is a moderator who specifically is very good at this. http://www.elitetrader.com/vb/showthread.php?threadid=258816 Above is a great example - Value of ET lies in the fact that here on this forum I can use power of social media to drive the development of a software I use everyday - without any fear of getting banned. I have already given another example of the Patak thread I created freely here.
Overall Quality of Posters I said: [[[Everyone is trying to make money but noone is profitable. LOL. At least here on ET - we have and had great successful profitable traders - lescor, atticus , acrary, ammo, volente, daal, Cutten, sellindexvol, rallymode and a whole bunch of others. People even with investment bank pedigree post on ET - some notable examples are AmazingIndustry, Rationalize, sle and many others.]]] With reference to above, Big Mike didn't answer this because he thinks there are a lot of successful profitable traders on BMT. Another poster Josh (ex-ET guy) said that there are couple of guys in above list who only know how to short in raging bull markets. What a profound comment! He was referring to ammo. FACT IS - Ammo takes home every month five digit figure from markets - while shorting raging bull markets and has been doing this for decades. Whereas Josh puts stops with 3 to 5 ticks and doesn't make any real money. No dis-respect to you Josh - just saying that it doesn't matter how a trader trades, what is a fact is that the trader in question is a profitable successful trader. BigMike/Josh - if you are reading this - you should refute my statement by putting forward names of successful traders on BMT who actually make money, rather than saying things like you guys are a good and helpful community. Learning is much better when you get a chance to talk to engage with people who are much ahead of you in life. In that respect ET shines as there are many profitable successful traders here. However, BMT is all bunch of jokers wannabes - as they say. How can any newbie learn on BMT ?From another newbie? Remember guys - being able to code free NT indicators (which BMT specializes in) will not make you successful traders. LOL. Exposure to good traders and their thought process is equally very important. I think only guy who is of substance on BMT is futurestrader71. Its downright silly that BMT has education webinars from Patak - LOL!!!!!!!!!!!!!!!!!!!!! This shows me how Big Mike is hand in gloves with these vendors. Also feel free to put forward the names of ibank pedigree guys who post on that forum.
Flame Wars on ET Finally, it seems a lot of folks like BMT because fights don't happen there. I agree a cleaner and moderated environment is good for discussion. However there is a huge side effect - which I think BMT suffers from today because of excessive moderation. Friends - I urge you all to think deeply on this very topic. My humble submission is disagreement (both mute and aggressive) is the mother of invention. Anyone knows here Ray Dalio's philosophy. He encourages free back and forth between senior and junior level people in his firms. Because only open and frank debate without any fear helps people to come up with truth and discover solutions to hard problems. E.g. MC is a much better software than Tradestation. What do you guys think why MC beat TS when they started just 6 yrs ago. By being all cuddling-cuddling to each other in the office. I bet not. There are always disagreements and aggressive disagreements and heated debate results in great solutions to hard problems. Ask people on Chicago floors or traders in investment bank. Its good to be respectful but only being cuddly doesn't lead anyone anywhere.
ET doesn't allow that much freedom. Why can't we delete our posts? I hate that about ET. Baron should, at the very least, give us 60 days to delete our posts. He knows the old posts grab a lot of traffic, and I get that, but to enshrine troll threads (or short term personal foolishness) for an eternity doesn't make sense to me.
gmst: Did it ever occur to you that the BMT and ET offer two very different services to the trading community? Both are money-making enterprises. Both are successful, and both have widely different approaches to "serving" traders. Read the rants you posted above. They define the differences. Why should either board owner change their business model? As it happens Baron is updating this board, but if I understood what he posted elsewhere, the changes will enhance this board's "forum" approach to things, he will not be adding everything you can find at BMT, including being banned for making a post like this one. Grow up or at least think like a grownup, not a self-centered kid. Whimsy