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Originally Posted by SIMBA
NewDigital,
Your idea is very good from the point of view of forex-tsd,since it has the potential to revive some threads and add some differential value to our forum(IF it is NOT EASY to copy)...Unfortunately, unless it is good to the other parties involved it won`t work.
Now let`s think about the other parties involved:signal sellers and signal buyers.
1-Signal sellers:They want either money or to refresh their threads..second case no problem,first case..How much?And why not selling 2 services..individual signals and "correlated signals"(where more than x% of signals sellers agree) ?..then the key question you will have to answer to the potential sellers is (seller asks) Why should I sell my signals at forex-tsd instead than selling them at C2?What do you offer that is better for seller?Please understand I am just pointing to some market obviousness,not trying to destroy your model...so,you could check the fee structure of C2(main competitor whose market you are thinking about attacking) and try to find some loopholes..aka:they take x% ,we only take y%,etc,etc
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This service will be our forex tsd forum service. C2 is not our service. Of course, signal providers and buyers may go to any other service and it is not a problem at all. For example, FF forum is having news calendar. And we are having news calendar and we are having few good threads about FF news calendar. It is freedom.
But anyway, we must develop our forum and we should have many forex tsd services.
As I tested this service so any signal provider can estimate his own price for his signals: one want to sell it for 200 dollars as monthly subscribtion, the other one wants to sell it for 10 dollars. It's up to them. Of course, may be this concept will be changes ... may be ... the sellers should have a right to sell the signals for his own price and the buyers must have a right to see the signal history from the seller and decide and have a choice.
As to competition ...
I do not think that we will have any serious comperition. Because our concept in this case is the following:
New, unique and interesting.
We developed the forum in this concept starting 3 years ago and we are still thinking in this way:
New, unique and interesting.
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2-Signal buyers:You have to be able to answer the question..Why should I buy signals from you and not from C2? C2 has like 4 k systems..some of them very good and some of them very consistent..What do you offer that they don`t?This is the key question you have to answer to potential signal buyers.
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We will not be in any competition with any other services. Everything is developed by steps. For this beta testing (step #1) we need just 2 or 3 good signal providers to continue beta testing for week or 2, they should be sure that everything is fine technically and I must be sure that everything is going in right way.
After that I will try to find good trades/signal providers concernng our forum concept:
New, unique and interesting.
But it will be step #2.
And I am sorry: I do not think that we will have 1000 signal providers on our service in the near future ... because there are not many people with having/implementing their ideas in this way of 'new, unique and interesting'.
If we start to create the other ebay or the other C2 on the forum so it will be completely out of our forum development concept.
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3-1:ES is right,no matter how good or bad a signal seller is,all signal sellers will have performance streaks..the trick is to find consistency,and a proven way is to go for correlated signals,so if 80 of your 100 signal sellers are long the dollar,then it is possibly going DOWN,but not much edge to trade on..yes,yes..no mistake here ,this is how it is...80 signal sellers long..dollar down possibly,but not much of an edge 
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No anyone is thinking to create ebay or C2 now. There are not many signal providers (or people who can do the signals) which can meet the development concept. We will start in the same way as we started the forum. And I do not think that we will have any competition.
You are thinking may be about step #3 or 4 ...
But I started this thread to finish step #1 (beta testing).
Of course, the signal providers (who will collaborate with this service) will use this service. They will be one of the signal providers when the service will run officially.
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3-2:Some people trade m1..others trade W1..so,you have to either group the signals by tf and by characteristics or allow only one kind of signal,intraday,swing,weekly,whatever...this is very important..it is not the same if a signal buyer who is not a pro trader goes home after work and finds this signal.."Sell USDJPY @110.00 Limit..SL 110.75..Target 108.65,valid for 48 hours"...than just finding that at 15:32 somebody has sent them an email with.."Sell USDJPY @ MKT NOW"..while they were in a meeting..first kind of service is tradable for that guy...second is not...SO,You have to define what segment are you going to target..PRO traders?..previous point(top 20 best and worst ) will have enormous marketability...Forum members?day traders with 10 hours screen presence? amateur traders that would like to have a D1 based service?....Different needs ,different services.
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The signals transferring via internet are having some limitation. It can not be a scalping for example. It is just a trading using Metatrader (once per day, 10 times in a day, once per week). I did the signals once in a week, and 20 in a day and it is not a problem.
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3-3:IF your intention is just to revive some threads and "prove " that forex-tsd has some threads that can make money for members..ok,no problem,just ask thread "owners" what they think and negotiate with them(most of them will say ok,for free,no problem)...If you intention,in addition to previous point,is to compete with C2...then,IMHO,you should define your business model,choose the segments you want to target and sell them(signal sellers AND signal buyers) your competitive advantage.
MY FEELINGS:1-Make it free to participate as seller..and you pay a standard fee only to the 5% TOP performers..AND the 5% WORST performers...Then you sell the whole package to signal buyers...TOP and WORST.
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The sellers/traders for beta testing will be selected from the beginning and they will finish beta testing. If everything will be going fine so they will continue officially, and I will try to find some interesting/unique traders/providers in additional to them etc.
Anyway, it may be the single person, or it may be some other forum service - it does not matter in our case.
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2-Fees:Ask forum members,BOTH potential signal sellers and potential signal buyers..ask them about their expectatives,prices willing to be paid,etc,etc...then ACT and check if it goes well ,according to expectatives or not..if not,then correct....After all,our Forum reaches tens of thousands of members,so,you have the potential to be a distribution channel for trading signals.
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Expectations ...
Elite section is for 12 dollars in a month ... and expectations? Free?
Simba,
For my opinion now, the signal sellers must define their own price and the buyers will agree or not. That is market. If one seller will sell the signals for 1000 in a month and he will not have any subscriptions for 6 months ... he will change the price, right? It is the market.
And how many membes will pay for 200 dollars monthly subscriptions to good signal provider? You understand ...
So, this service will be profitable for signal sellers (and for the forum as well) and will be good for users/buyers if:
- it will be forex tsd service (it means that I will have the rights to promote the sellers);
- same concept:
New, unique and interesting.. Using this concept so we can not create the other ebay. Unique. Something new or very interesting in trading, in signals or in trading systems. For example, I know some forums (not in english language) which are doing their official signals in so interesting way using some unique systems ... so their services can collaborate with us (because they are still doing it locally). Same with people.
Because we are international forum and our tsd team (moderators, admins and programmers) are so different by countries, locations, languages, traditions, opinions, habits and so on - so not one country even repeated.
If we will have a choise of the development of this service (but we have a choise now because we are on the step #1 only) so it may be the following 2 ideas:
- to have 2K sellers with everything for the service;
or
- to have 20 sellers only (for example) but unique and interesting.
so I will select 20 as the idea of the development.
Because it is more good for the buyers, more money for sellers and same money for the forum, and no any competition with C2 or others (and less headache for the forum team).
But for now we want to finish the step #1 which is beta testing. And we need few good signal providers who will help us to finish this testing and who will use collaborate with us when this service will be run officially (if they will agree of course).
Signal evaluation
and do you have any minimum criteria to become signals vendor like x yrs of min experince or z number of signals passed?
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