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Blogs by Paul 'yogi' Nipperess BMin
HC, brokers, forums and traders ..... 3/7/2004 5:50:22 PM
A long-established traders' forum has recently been
taken over by a television network, in Australia.
Over the weekend, it was shut down for maintenance, without
notice, prompting the ire of many traders on Monday morning
..... some even suggesting that a new forum should be
established.
Here's my reply. Hi folks,
..... why try and reinvent the wheel?
There's many other established forums, with
easier formats than HC.
HC has been riding on the premise that they
have some 12,000+(?) traders registered ... clearly
false promotion, as only a few hundred of these are
active, at any point in time.
No commercial venture would be making money in
Australia by only providing a traders' forum ... their
money is made from providing traders' services
and selling books, tapes, seminars, etc .... like
IWL and Incredible Charts, to name a couple.
From the casualties we have seen in the past, even
HC for example, it must be a very competitive
market ..... relatively small, with a lot direct
competitors for the same client base.
About the only positive spin is the fact, that as
some traders become disillusioned and fall by the
wayside, there's a constant flow of newcomers
to try their hand at "trading for a living".
-----
That numbers game would also seem to be
reflected in the broking industry, too .....
That in itself, creates a "churn and burn" attitude
amongst some brokers, which is why full service
brokers charge such exorbitant rates ..... it's not
that they provide a better service, they simply
have to make up for previous clients lost to
electronic trading, so those that do need "real help"
in their trading must pay top dollar ..... a vicious
chain of events.
Brokers don't really care about clients needs, as they
know, if they lose a more experienced trader to
electronic trading, there is always another, new
trader coming along, to fill the void .....
..... and the futures industry in Australia is
also run, in a similar way.
happy trading all
yogi
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