Supply/Demand vs Volume In response to Hombre's post, I would answer whichever side of the market that volume is entering forces the market in that direction. If there is more sell volume than buy volume, the market goes lower. If there is more buy volume than sell volume, the market goes higher. So what's a trader to do? Watch the directioon of the mode (the magenta line in the profile that denotes where the most volume has traded). If the mode is moving lower there is more selling. If the mode is moving higher, there is more buying. You don't have to know the reason why, you just need to see the movement. As a trader, that is my key concern.
Ignore In response to Reavers question about Trademaven Pro and TIE, they come only as a package. I wasn't ignoring anyone, by the way. I trade for a living and only check the postings early and late in the day. Doug Zalesky sometimes follows the posts during the day, but he is not always available. I have found that if you treat people with respect, they often return the favor. This method can be applied to any market. Value is value and volume is volume. Makes no matter whether it is the stock indicies, currencies, corn, or oil. If that doesn't answer your questions please let me know.
I wasn't asking if the "method" can be applied to other markets...I was asking if your software allows people to use the screens on other markets. So basically the conclusion I have come to is: If you can already trade for yourself, then TradeMaven has nothing to offer you. However, I guess if you get tired of PureTick and are ready to try something new, you can always join TradeMaven for $400/mo. If you are already a trader and have your own method, you can obtain the necessary tools for much much less (easily over 50% less) than TradeMaven can offer. Bottom line: TradeMaven Inside Edge is only for beginning traders who need handholding. The software is not available to others who could use it to apply their own methods that have actually been proven to work beyond the world of theory. It's a shame though, because if you offered a software only option and dropped the rates commensurately, I think you'd get a whole slew of people willing to pay for the platform. No offense, but it seems like a (very) good software idea ruined by wanting to eke out every dime possible by targeting newbs. I guess newbs really are the cash cow in this game.
P.S. I attempted to send you a few PM's and be as respectful as possible. So not sure what you meant by that last quip. Vendors always say that, they have a faulty and shaky premise and get pissed when someone points it out. I was hopeful that there was actually going to be a vendor that would ofer something of quality to those who already trade. So, what happens if a newb starts going to the chat room paying their $400/mo? Say they finally learn to follow everything Charles Cochran says...and then one day he gets a brain tumor, hit by a car, or stabbed to death behind a Kmart somewhere? What then? They are screwed, because all they ever learned was a paint by numbers system that they receive Pavlovian trade calls from in a chatroom. What if the owners of TradeMaven are all flying around in their private jet and it gets struck by lightning and crashes? The platform most likely wouldn't be available anymore. One who already trades and understands auction markets could then use alternate data providers while the TradeMaven heirs get the ball rolling again. In my opinion, there is a major flaw in only offering software to brand new people who do not know how to interpret the market for what it is. There is no magic system to trading. No fancy or clever titles can change that. If I were you, which I am not, I would focus on providing a good brokerage and platform to those who already know how to use auction market analysis and wouldn't be totally screwed if a meteor hit TradeMaven HQ one day. But I know that would make less money. I'm not trying to bash. I already said I like the setup/concept. I really think you should consider the other approach. Hell, do both. what do you have to lose?
Hypotheticals I don't have a rational answer to your disaster sconario hypotheticals. What I can say is that good traders never stop learning. I personally know one trader in the TIE room that took 53 handles out of the S&P on a day when the range was 3 handles. Why would he remain in the room. One of out newer guys is trading 10 lots already and averaging over 10 32nds a day. Charles Cochran, after putting in a 10 hour day on Tuesday, attended a trader group meeting to share and improve his skills. My perception is that you're being critical without knowledge of Charles Cochran, the TIE traders room, or the software. I'm more than willing to talk trading and share what I know, but this discussion is a bit far out for me. You are, of course, free to post anything you like, but I will be confining my responses to trading issues.
My simple question is why do you require traders to be a part of an educational chat room just to use your software? Yes, the obvious answer is that you are only there to eke out every last penny possible from any subscriber without a consideration for the customers true needs. The big money for vendors is in charging outrageous fees to newbies for chatrooms and we all know this. Yeah, so it's really a no-brainer. It gives you the "justification" to charge $400/mo instead of $150-200. I figured I would ask just in case you had something else to offer to the discussion to set yourself apart from the run-of-the-mill chat room crowd, but I guess not. Maybe someone likes your platform but doesn't need Charles Cochran to tell them how to trade. Maybe they don't know who he is or give a rat's ass about him or his calls. Maybe they just want good tools. Some folks aren't looking for handholding and chat room friendship clubs. Is that too far out for you? If you're a successful independent trader, then what did you do before Charles Cochran? Why would you devolve into hanging out in a chat room to trade a paint by numbers system if you already knew how to trade previously? How is following Pavlovian trade calls in a chat room considered continued learning?
Excellent post. Extremely valid points, professionally, respectfully and intelligently stated, well thought out and directly to the point. I particularly like the items which refere to: 1. A multi-tier fee structure for software only users who are interested in the charting platform. 2. A seperate fee for those who choose to use the chatroom. 3. The importance of learning the system and trading it independently cannot be stressed enough. Thanks for taking the time to comment.