What forex or prediction related services would you pay for?

 

I'm starting a prediction/trading site, and I'm trying to figure out what services people would actually pay for and/or types of articles they would want to read, etc.

The problem is that I don't want to just do some stuff and see if people want it -- I kindof want to see what people would want or pay for beforehand.

Like, I could put up some indicators in DLLs that could be used by Metatrader and sell those, or set up some type of indicators that people could use online, but I don't know what people would want or want to buy.

So if any of you want to use some sort of service, and have some types of suggestions, please let me know.

 

Hmmm, I think think people would love to see a programming service.

 

What type of programming service do you mean? Programming indicators/EAs for people?

After reading the posts on here about people programming, and experiences, etc., and the rates for programming (I'm here in the U.S., and the rates outside the U.S. are really low it seems like), do you think there would be a market?

I don't really want to take bids and then code/get payments. I'd rather offer indicators or stuff that people might want to use for sale, and sell it to them.

For example, I was thinking of making a FFT indicator for somebody on here for free, so I started coding it, but it takes a long time so I kindof don't want to do it for free. I could just make a FFT indicator that shows major cycles or something and offer it for sale if people would buy that kind of thing.

 

Emmm...

A good idea can be to review consistently succesful trading strategies (free or payed ones), adding the service of payed mentoship for lets say a month, to teach people to trade live with that particular strategy and that particular mentor.

I just have that idea when I see a chat of friends talking about specific issues: example: If I want to enter to the chat where people are talking about the climate change, I have to suscribe. It can be used to the mentorship of different strategies or issues related of teaching forex live. It can be used by coders to teach coding indies and EAS also.

For a newbie, the benefit can be enourmous because his learning curve will boost being mentored live by an experienced trader, in a strategy that fit his trading stile.

I think that kind of mentorship requires a lot of organization, work and a group of skilled guys who love to help and teach. But I think if archived can be a very unique forex service and very, very rewarding.

 
fxnewbie:
Emmm...

A good idea can be to review consistently succesful trading strategies (free or payed ones), adding the service of payed mentoship for lets say a month, to teach people to trade live with that particular strategy and that particular mentor.

That's a really good idea. Thanks for the idea. LOL. If only there were any consistently winning trading strategies. I've looked at probably hundreds of trading strategies and I can safely say there are almost NONE that work in the long run and across a lot of markets.

Tons work in the short term -- like Larry Williams who makes his money teaching -- if you look at his trading for the year when he made $1 million trading he was up like $3 million and then lost $2 million at the end of the year. He made his money because he traded during a big run-up in the S&P, in my opinion. LUCK mostly. I tried his techniques from his course and if the market goes up they win and if the market goes down they tend to lose.

Look at this site. Not ONE successful expert advisor that will work across a lot of markets to make money consistently. NONE.

What I found is that traders trade, and then some are successful, but mostly only for a short time. This is why the older traders teach and don't trade their own accounts that much, I think. It's not because of margin limits and stuff -- I don't think. It seems to be because once they were successful, they can't repeat it, so they teach.

Winning consistently, I found, is extremely hard because of changing market conditions. It's a ton of work.

 
andyhaas:
That's a really good idea. Thanks for the idea. LOL. If only there were any consistently winning trading strategies. I've looked at probably hundreds of trading strategies and I can safely say there are almost NONE that work in the long run and across a lot of markets.

Tons work in the short term -- like Larry Williams who makes his money teaching -- if you look at his trading for the year when he made $1 million trading he was up like $3 million and then lost $2 million at the end of the year. He made his money because he traded during a big run-up in the S&P, in my opinion. LUCK mostly. I tried his techniques from his course and if the market goes up they win and if the market goes down they tend to lose.

Look at this site. Not ONE successful expert advisor that will work across a lot of markets to make money consistently. NONE.

What I found is that traders trade, and then some are successful, but mostly only for a short time. This is why the older traders teach and don't trade their own accounts that much, I think. It's not because of margin limits and stuff -- I don't think. It seems to be because once they were successful, they can't repeat it, so they teach.

Winning consistently, I found, is extremely hard because of changing market conditions. It's a ton of work.

Well.... I am wining consistenlty for many months now. I have some barely good months and some really good ones. But I earn consistently (not as much as I wish). And I am shure that in this forum you can find much better traders than me. The hard part will be to convice them to share a succesful system and release his hard (and lonely) earned knowledge and tips.... for a little fee.

But there are some traders that allready found a good trading system and has change to other even better. Maybe they can release the one that they are not trading in their live account.

Even if they not prove to be very successful, the knowledge, the tools used and how are used, the concept of the trade, the tips released, the mental state and the way they trade will be very interesting for any novice. Usually, there is a ton of wannabes that want to rush trying to gain a fortune in this market and only the most persistent and disciplined hard workers have a chance to win. At least, with this service you will give them a chance. For most people, that's all they want. But they are lost most of the time.

Speaking by myself, for example, I can pay a fee to just to see how some traders in this forum trade live. There are many different concepts of trading that can lead to improve my own trading.

Why experienced traders be involved in this project..??.. for a fee (maybe not important. Most important will be for them the experience to teach and share. Trading is a very lonely work, you know...).

 

Or....

If you want to make things easier, just pick the best free trading (or payed)sistems in the forums and webb, ask permission to their creators (or pay them a fee, or mentor the ones that buyed the payed ones earning commissions for referals, etc.), find a trader who trade with that sistem and offer him to mentor in your place, sharing the fee. He will get part of the fee. You will get part of MANY fees (sharing the fee of other systems and mentors you can get).

Also, your place can give mentoring for coding and other forex related issues, also. Big Businness.

Woooops..... a new Larry Williams is coming thru...!!!!.. ...hope you remember me when you are rich....

 

let me try to predict thursday range value (i.e. where will it BOUNCE)

EURJPY prediction , down from 124.03 to 123.34

USDJPY 90.08 to 91.64

 
fxnewbie:
Emmm...

A good idea can be to review consistently succesful trading strategies (free or payed ones), adding the service of payed mentoship for lets say a month, to teach people to trade live with that particular strategy and that particular mentor.

I just have that idea when I see a chat of friends talking about specific issues: example: If I want to enter to the chat where people are talking about the climate change, I have to suscribe. It can be used to the mentorship of different strategies or issues related of teaching forex live. It can be used by coders to teach coding indies and EAS also.

For a newbie, the benefit can be enourmous because his learning curve will boost being mentored live by an experienced trader, in a strategy that fit his trading stile.

I think that kind of mentorship requires a lot of organization, work and a group of skilled guys who love to help and teach. But I think if archived can be a very unique forex service and very, very rewarding.

If you do this be absolutely sure that your TOS are rock solid. Make it very clear what you are providing and make clear the provisions for either success or failure.

The problem with this idea is that you will also get people who have the money to burn but not the will to put in the work to get it done. So you need to be very clear about exactly what you are offering and what is expected of them.

I'm also starting a forex website. I guess you are my competition..so scratch what I just said. Don't even write up a TOS.

Juuust kidding. Best of luck to you .

EDIT:

You hit the nail on the head as far as a coding service goes. The people who buy those are too used to paying bottom dollar (rupees?) for it. There's no $ there if you are spending American dollars like we are.

 

andyhass,

Do you have a crystal ball ?

If not, you have to buy one.

Forex is unpredictable!

Bongo

 
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