This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
It’s well known that two heads are better than one. I was never sure how this would translate into trading, but the answer revealed itself in ….. WallStreak!
First there was Twitter, then came Jaiku, and now it has evolved into WallStreak. What is WallStreak, you say? Well, if you are already Twittering or Jaiku’ing, how would you want to tweak it so that it would be more useful for traders? Well, I think that’s basically what WallStreak is.
TapeWorm had already wrote about some of the benefits of WallStreak. I think one additional benefit is that we can throw trading ideas around, sort of like brainstorming, with WallStreak being our virtual blackboard. For instance, yesterday, I went into a brief discussion with Ugly and Tapeworm regarding why I thought going long ES at a certain price level was not such a great idea. Explaining that actually helped to solidify my own thought process as well, so we all benefitted. I also learned about PMA’s from TapeWorm from WallStreaking. I think WallStreak is a good platform to toss around ideas like that. It’s pretty cool to be able to collaborate like that.
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
May 3rd, 2007 at 5:16 am
After reading your post and tapeworm’s, I personally still don’t see an advantage of wallstreak over jaiku, and in fact there are some disadvantages in my mind that still need to be weeded out.
What exactly are the tweaks that make it more useful to traders? I know of the watchlist feature (because it was my suggestion). anything else?
May 3rd, 2007 at 5:26 am
phileo: i agree
richard: for me i didn’t want to pull up several twitter pages, so i didn’t use them…instead i use wallstreak futures page, because it meets my specific need…it automatically refreshes, and it’s a one stop shop
May 3rd, 2007 at 5:27 am
@Richard: The various tabs for stocks, options, forex, and futures. It’s sort of like a virtual blackboard for each type of trading. Plus there’s also the stock tagging, and the quasi-automation of the watchlist. I think the more addictive Jaiku features (like how you can Jaiku from your Crackberry) will show up in WallStreak in due time - if there is enough demand for it.
May 3rd, 2007 at 5:50 am
I think wallstreak has potential to differentiate itself, feature-wise, but it’s not there yet. For some reason, though, several traders that wouldn’t try twitter have given wallstreak a whirl. Maybe the anonymous posting helps them get a taste. Don’t know, exactly.
But at the same time, if too many people join, it could start to feel crowded since it works on a blacklist rather than a whitelist basis. It’s a bit more on the IRC side of the spectrum than the other services that way. I’ve already been annoyed by anonymous posters.
@tapeworm, you never had to pull up several twitter pages… you just had to have an account (and friends!) same with jaiku… when you are registered it shows you a page with all your friend’s posts on it.
To me the stock-tagging is one of those things that’s easy to implement but not that useful. The watchlist could turn into something, if enough people start using it. Once jaiku opens up channels to users, they will duplicate the functionality of the stock/option/futures tabs.
May 3rd, 2007 at 6:16 am
I like Jaiku’s ability to comment on posts. I like Wallstreak’s auto-update and symbol linking. I want to support Ugly! I only want to use one service, though.
I’d love a feature to filter out anonymous postings on Wallstreak. Then those who want to see them can, and those who don’t, won’t. For the stocks channel, I’d also like an embedded chart on the side that changes based on clicking the linked symbol.
To me, the most important thing is the community, however. Wherever the traders are is where I want to be.
May 3rd, 2007 at 8:01 am
@Prospectus: you already can filter out anonymous people… just click the little icon on an anonymous post.
May 3rd, 2007 at 9:23 am
thanks guys for your support.
yeah I just thought twitter/jaiku was a great resource for traders, but it isn’t really designed for traders. I’d like to eventually make wallstreak have enough features so that it is a better site for traders.
any suggestions are appreciated
May 3rd, 2007 at 12:59 pm
richard: i wasn’t aware of that…i visited your page, and zoomies, but that was as far as i took it…besides, i am friendless :-(
May 3rd, 2007 at 2:46 pm
@Richard: ORLY
Done!