

Please Review StockChatBoard.com: Digg + HN for stocks - kp812
http://www.stockchatboard.com

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vyrotek
First thoughts were, why should I submit these ideas or stocks. Why should I
really trust people's advice based on karma? I would rather see people ranked
by the accuracy of their predictions.

Perhaps when you submit a stock or vote on one during the week it could record
the current price and after a few days your karma points are based on the new
price of the stock.

I also think you should have links to the stock price. I'm too lazy to type in
all the ticker names into google.

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SkyMarshal
Yeah, this might work better in prediction market form, where people get rep
points after their prediction has come true.

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Keyframe
<http://stocktwits.com> with this would be great.

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kp812
I like StockTwits, but the information seems to be all over the place. My goal
was to make opportunities easier to find, as well a bit of enhanced research
by crowdsourcing.

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awa
Also, how would you detect fakes! I can say I bought 1000 $AAPL at 80 last
year and sold them for 270 this year to get some karma.

Look at <http://profit.ly> for a twitter like take on stocks

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kp812
Karma is only awarded from other members in discussion areas. Additionally, a
virtual trading system is in the works to accurately track member performance.
The trades are entered on the site, and compared to the actual market so there
would be no fake scores.

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delano
Isn't the stock market the Digg for stocks?

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kp812
Touche. But by the time you get news from the market it's probably too late to
be useful.

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vishaldpatel
Hahaha.. circular. By the time news happens.. its already too late =)

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Sukotto
I currently use the Motley Fool CAPS site[1]. What about your service is going
to be better than CAPS?

[1] <http://caps.fool.com>

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kp812
It's not so much about being better, but rather in addition to something like
CAPS, because I think CAPS has the right idea and both services could shed
light on trade opportunities. The model for CAPS is highly ranked/successful
members sharing trade ideas and I think that's valuable. One difference,
however, is that I plan to pay any members with significant audiences visiting
their profile blog on an ad revenue sharing program. This will hopefully draw
participation from many top traders to the site.

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vyrotek
Sorry if this comes off too negative. But, you want to pay 'top traders' who
probably already make good money a few bucks to blog about their tips and
other information?

Im not too familiar with how 'info friendly' traders are, but I was under the
impression people didnt openly share all their tips.

Wont the community end up just being full of people trying to promote specific
stocks they are interested in and not necessarily ones people in general might
want?

Edit - So I looked around CAPS and it seems they have a blog section. So i
guess people do like to share something. But the comments and votes seemed
pretty dead today.

I still think people are more interested in what people are actually DOING in
the stock market rather than what people THINK about certain stocks. I would
love learn from 'top traders' by looking over what they have done in the past.
Lots of people talk, few people do.

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Sukotto
Well, I've bumped into a few traders (mostly in the energy commodities trading
arena) and you really get all sorts. There are the guys that won't even tell
you where the bathroom is in their building, then there are the guys that love
spreading their opinion around so they can reap the recognition when they made
the right call.

Presumably equity traders (which I believe is the focus of this site) are the
same way.

I do think the OP is going to have something of a tough sell to get any of
them to participate though. I'm not sure if the incentives are high enough...
particularly during the "get it off the ground" phase.

Still, I think it's an interesting idea.

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bdickason
I'm not your target audience at all but here's the first thing I noticed:

The big blank blue space up top (plus the logo) take up roughly 20% of the
screen real estate. The nav then takes up another 5%.

1/4 of the screen wasted and now I'm finally at the content!

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bvi
An ok concept, but poorly executed, in my opinion.

What is the user voting for? The stock itself? Or the reasoning behind the
submission? What will you do about multiple submissions on the same stock, say
AAPL, that could flood the frontpage?

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kp812
That's a fair point. The user is voting for both the stock and the reasoning.
The idea is that people with the best insights will rise highest. It's
certainly a new concept which may evolve as time goes by. There will also
probably be a duplicate checker to alert the submitter.

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ccarpenterg
It would be useful if you find a way to link a stock with a news' submission.
You know "buy the rumor, sell the news".

So for me the useful information is the news or the rumor and not any user's
bet.

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kp812
Yes, I know what you mean and I'll continue to look at ways to integrate buzz
about a stock. However, my rather ambitious goal would be to have the site
almost create news, similar to the Digg effect, so that top voted items on the
home page might one day garner so much attention the stock might rise by
default.

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cmelbye
Instead of showing the vote buttons but having them do nothing when the user
is not logged in, use a tooltip to tell them that they can vote, comment, etc
if they create an account and login.

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kp812
Will do, thanks!

