To IB Management

Discussion in 'Retail Brokers' started by nitro, Mar 28, 2004.

  1. nitro

    nitro

    Def and others that peruse this site:

    I have a very special request. There is alot of claims made on ET of profitable traders. There is an aweful lot of advice given on these forums by people that may or may not be traders, let alone profitable traders.

    My suggestions is that IB implement a way to allow any number of spectators to follow along on someone else's account. So the owner of the account would go to his/her account, and enable live spectating. To be clear, spectating means no permissions to do anything but watch an account, like orders being sent in, orders being cancelled, executions, P/L, etc. No executions or any other permissions allowed on the account.

    Now, anyone with a browser would log on to the mentors "spectating" account at Interactive Brokers, with a special password that was tied to an IP address, would be allowed to follow along in realtime. Notice the spectators are not loggin in to the mentors computer, but to Interactive Brokers "spectating servers."

    IB has lead the way in many ways in this industry. This would be a killer application to legitimate educators in this industry, and it would almost instantly kill off many of the impostors.

    In return for IBs effort and investment, it would give you (IB) two edges over your competitors:

    1) No one else would have this technology
    2) All the newbies would get initiated to IB by the mentor, giving IB a foot in the door for new accounts.

    I realize this is a dream, but IMO, it does not require a great deal of resources when weighed by the potential benefits.

    Thanks for your time.

    nitro
     
  2. nkhoi

    nkhoi Moderator

    glance let you broacast your screen with password to whoever you wish, 5m to set up http://glance.net/
     
  3. nitro

    nitro

    Nice idea!

    But this would not legitimize it nearly as much as having the broker act not only as an execution broker, but as an HONESTY broker.

    I could, with some effort, foil your suggestion by faking a screen that made it look like IB, but in fact it was not. Not to mention that the mentors machine would get bogged down by say, 100 spectators. This app was not meant for this.


    But it was a valiant try...

    nitro
     
  4. Sounds good, but at first "glance", the price is a ripoff.

    Monthly fees for this?!

    No wonder their not exactly "known".



     
  5. Only under ONE condition. That I can watch your trades...Nitro.

    Michael B.

    P.S. I just got a idea....could I charge people to watch me....without licensing myself again?

    P.S.S. next question would anybody pay me a nickle.....? Hey its for charity!



     
  6. nitro

    nitro

    ES,

    You have a deal. IB implements this, you get to watch me trade for a week tradin the ES and NQ.

    nitro
     
  7. ok....where is defs number...DEF !

    Michael B.


     
  8. nkhoi

    nkhoi Moderator

    "Each session can have up to 15 viewers, which connect for free. " at $50/m, Nitro can ask each viewer to paypal $5 for 1 day viewing and still break even at end of month.

    I am willing to bet that more than 1 person is willing to pay $5 to see Nitro. :D
     
  9. nitro

    nitro

    nkhoi,

    I do not want to mentor. Your post should have read:

    "The mentor/educator" can charge $5 for 1 day viewing and still break even at the end of the month."

    Again, see my post in reply to this idea as to why this would not work well.

    nitro
     
  10. I would pay just about any reasonable amount to look over another successful traders shoulder in real time...

    Michael B.



     
    #10     Mar 28, 2004