[Uli Schmuli]

I had this same idea about five years ago and cannot wait until the launch. Finally, we traders have a way to verify the success of forum and chat room participants, and to prove our own!

http://www.opentrader.com/home.aspx

A lot of shysters are about to have their worlds upturned, I think!

[Tradewinds]

I'm waiting for this also, and looking forward to when they launch. I hope the preparations are going well for the site.

[gosu]

A nice idea, but I don't see how you will get any serious people to get on board:

Disclosure of Trading Information

A key goal of Company, the Site and Service, is to promote increased openness and transparency by independent traders of the financial markets regarding their methods and (most importantly) their results. * * *

(iii) In order to accomplish this goal, Company will require you to disclose all relevant information necessary to allow it to access those trading records which you may designate from time to time, including but not necessarily limited to account numbers, user names, passwords, "verification questions," other required security keys, etc.;

* * *

Good luck with that.


P.S. If in say 5 years your idea does catch on and you've shown a track record of being secure, I will join and allow access to a small account. But until then, I'll let others go first.

[Uli Schmuli]

Originally Posted by gosu »

P.S. If in say 5 years your idea does catch on and you've shown a track record of being secure, I will join and allow access to a small account. But until then, I'll let others go first.

Just to be clear: This is NOT my website, I only said that I had the same idea about five years ago.

Regarding why serious traders would join, I say, why would any serious seller of trader education & softwared NOT join? What a great way to set yourself apart from the carnies!

[gosu]

Originally Posted by Uli Schmuli »

Just to be clear: This is NOT my website, I only said that I had the same idea about five years ago.

Regarding why serious traders would join, I say, why would any serious seller of trader education & softwared NOT join? What a great way to set yourself apart from the carnies!

It's not your website. Got it.

As I stated, I like the concept. I would consider joining and I'm not in the business of selling anything. However, the execution of it is a nonstarter for me.

Why would vendors NOT join? Is this a serious question? Isn't it obvious why they would not join?

In any case, I would ask why would anyone disclose the account information the site requires to participate? Did you read any of the Terms of Service?

Not even my family members know my account passwords and security questions and I do not keep such information on my computer or have it written anywhere. And I'm supposed to trust a website with that information?

You has gots ta be kiddin'!

[Tradewinds]

Originally Posted by gosu »

Company will require you to disclose all relevant information necessary to allow it to access those trading records which you may designate from time to time, including but not necessarily limited to account numbers, user names, passwords, "verification questions," other required security keys, etc.;

* * *

Good luck with that.

Thanks for posting this. I definitely would never give out that information. I don't know how this site thinks people are going to agree to this.

[wrbtrader]

In the past few years I've been hearing more about hackers breaking into different companies to steal confidential information like account numbers, passwords, financial data, personal data on the clients of the company that got hack (Google, Sony, Worldpress, Epsilon, RSA, Voice of America and countless others that includes security firms themselves like HBGary and EMC) in 2011 alone. The scary issue is the info stolen was on individuals and other businesses these hacked companies had as customers.

It's also a known fact in the security industry or hacker industry depending upon how you look at it that most folks (individuals) use the same user name, same password or "similar like" password, same verification questions and so on at other sites due to habit. For examples, a few of the well known companies hacked in 2011, many of the individuals using those companies saw unauthorized access to their other accounts elsewhere that had nothing to do with the company that got hacked.

Simply, this company (Opentrader.com) will have access to more than just your broker account from the perspective of anyone that may want to hack them because the hacker understands that most individuals are of habit. By the way, those SSL GlobalSign and TRUSTe privacy certificates you see at the bottom of sites that say they are secured...some of the companies that issue those have had their own security problems in the past too.

Yep, I share the same sentiment as others. There's other ways you can verify someone's trading performance without that person coughing up their account numbers, user names, passwords, "verification questions," other required security keys, etc. that your broker has with you.

[Xiao si]

I'm also happy to see this forum starting up, i'm in.

I'll be the one at 0 P/L!

XS