The new "trading reviews" section, is there a glaring omission?

[pboyles]

Hi pboyles,
Well, it appears we're damned if we do and damned if we don't.
In my experience - which I accept is considerable compared to a green newbie - a false glowing review usually stands out a mile - even if I can't prove that it's false. People who write good or bad reviews for the wrong reasons (i.e. to pump their own company or trash the competition) are usually very bad at it. Perhaps I'll write an article on the subject and submit it to Trader333! On the other hand, genuine reviews tend to reveal little details and observations about a product or service that the fake reviews don't have the creativity or insight to include. In other words, most fake reviews are as obvious as counterfeit money printed with a £50 machine using 80gsm photocopying paper!
Tim.

Yes thats right, it depends on honesty and there very little of that in this business. As Private Fraser would say 'You're doomed'!

I agree that the fake reviews are obvious to us, I'm not sure they would be so obvious to a newcomer. Checking the reviewers post count is normally a good indicator but you're right about the quality of the posts. This is my favourite reply to a thread from someone called Bigbrains who was saying Biodefense shares were a great investment. I think you could guess if he was genuine or not.


"you and experienced nothing yet seem to be real men , chatting about things you know nothing about and talking negatively about people you don't know while hiding anonymously on the internet pretending to be somebody.. yes when i was a young kid , i happened to work for a firm and got caught up in a situation where i did nothing wrong. wow big deal , 16 years ago loser. people who know me what happened and not one of them , even my clients client think i did anything wrong.If i were involved in a scam do really think i would expose myself. man you are stupider then i thought . so G-F... yourselves you two lowlife internet geeks that sit around all day chatting online thinking your smart, get a life , oh and by the way you will be revealed as part of the litigation be planned by our attorneys.. "

 

[0007]

Thats exactly what happened with the Mr Spreadbetting debacle, and look how that ended up ! I'll say no more :whistling

Didn't follow that too closely. Who were the "qualified" reviewers and what credibility did they have?

 

[timsk]

Yes thats right, it depends on honesty and there very little of that in this business. As Private Fraser would say 'You're doomed'!

I agree that the fake reviews are obvious to us, I'm not sure they would be so obvious to a newcomer.

Agreed pboyles.
My view is that T2W can and should do more to help protect newbies. Equally, I think the points made by tomorton and MrGecko are equally valid and traders have to take responsibility for their own actions. At what point does a duty of care become mollycoddling? Wrapping newbies in cotton wool isn't helpful or beneficial to anyone.
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I've given more thought to the valid points expressed by the hare (and others) and I think there are a few things we could do without going overboard.

1. A Review Panel
At the discretion of the moderators - or a specially appointed panel of knowledgeable traders - they could flag up a review that they think is suspect. This might be in the form of a simple graphic icon attached to the main listing. If the member who posted the review protests - which they're entitled to do - they will then be asked to provide some evidence that their review is genuine. This might be a copy of a license agreement if it's software, a receipt for goods / services received or some other evidence that they've actually used the product / service that they've reviewed etc. I know it's not foolproof, but it will filter out the lazy!

2. Bespoke forum or sub-forum
Following redart's suggestion (see post #14, P2 of this thread), I think a separate forum or sub forum to house all the threads relating to the companies that have a big question mark over them in the eyes of the members. This could include a Sticky (always the first thread listed) with a link to FSA unauthorised firms / individuals - and other regulatory bodies.

3. T2W Edit
Firms added to the reviews section would then have a T2W edit in the main description with a link to the forum and the discussion thread (if there is one). See the one I've added to SpyGlass

All this, on top of the FAQs and Stickies that deal with this issue, amount to a lot in the way of protection for vulnerable newbies. Those that lose their money and post tales of woe won't be entitled to huge amounts of sympathy if they've failed to heed all these warning signals!
Thoughts anyone?
Tim.

P.S. I still don't know if what we're discussing is what the OP was alluding to in the thread title! Would he - or someone else - care to enlighten me?

 

[the hare]

Didn't follow that too closely. Who were the "qualified" reviewers and what credibility did they have?

I'm afraid naming them would result in an instant ban. One's a T2W staff member now, the other had rather a lot of those reputation points that the site used to use to differentiate the knowledgable from the dunces!

It all ended in tears (tears of laughter for many of us)

 

[0007]

I'm afraid naming them would result in an instant ban. One's a T2W staff member now, the other had rather a lot of those reputation points that the site used to use to differentiate the knowledgable from the dunces!

It all ended in tears (tears of laughter for many of us)

Sounds like the average new designer-punter is stuffed then! I suppose they'll have to turn to balls-aching personal study/research/trial& error. Worked OK for me when I were a lad.

 

[wackypete2]

At the discretion of the moderators - or a specially appointed panel of knowledgeable traders...

In light of my recent criticism, I would volunteer to be a panel member if that's the route you go. Ultimately I want this forum to be a better place. I like it here!

All this, on top of the FAQs and Stickies that deal with this issue, amount to a lot in the way of protection for vulnerable newbies. Those that lose their money and post tales of woe won't be entitled to huge amounts of sympathy if they've failed to heed all these warning signals!
Thoughts anyone?

Agreed. I feel it's necessary to make reasonable attempts to protect members and retain some credibility. You want to keep members here, since without enough members there would be little ad revenue to sustain the site.

Peter

 

[timsk]

In light of my recent criticism, I would volunteer to be a panel member if that's the route you go. Ultimately I want this forum to be a better place. I like it here!

Hi Peter,
Thanks for volunteering. You'd certainly get my vote.
Ultimately, ideas like this are approved / rejected by Sharky, obviously. I've not spoken to him about it (yet) so it may contain serious flaws I'm not aware of. (Most of my ideas do!) I imagine that the Mods wouldn't want to be involved as they've got more than enough on their plates already.

Obvious examples of questionable reviews are the 2 added by spinola earlier today. We know their false, not least because he's told us so on this thread. But would a newbie (who's not subscribed to the thread) know they're false? Maybe not. Both of 'em would get an 'iffy review' icon if my suggestion ever comes to fruition.

I'm glad you want the forum to be a better place. I do too, although it seems like an uphill struggle some of the time! Cue pictures of violins . . .
:cheesy:

 

[spinola]

Ehh, my heart is true, on the TV adds, they train people who run hedge funds, and go on to become institutional traders, that's why I give them 10/10 . With that pedigree and ability, new traders should snatch their hands off. And they have world champion traders .

Sure I may of been a little bit hesitant previously, but upon reflection, I think I was in shock and maybe fearful that it was too good to be true, but after more research since I am happy to state my review stands as 10/10, sincerely based upon my experience with them. In fact I wished I could vote 12 !

Check them out for yourselves.

 

[arabianights]

I'm afraid naming them would result in an instant ban. One's a T2W staff member now, the other had rather a lot of those reputation points that the site used to use to differentiate the knowledgable from the dunces!

It all ended in tears (tears of laughter for many of us)

dooo it....

btw dante is now a vendor.... I trying to shove a daft oriental gentleman who has NO CLUE ABOUT ANYTHING on him to be taught for free cause said dante sez it would enhance his reputation as able to teach any moron to trade... he initially agreed... but he's now not returning my calls

(daft unteachable is here:

)

 

[pboyles]

Ehh, my heart is true, on the TV adds, they train people who run hedge funds, and go on to become institutional traders, that's why I give them 10/10 . With that pedigree and ability, new traders should snatch their hands off. And they have world champion traders .

Sure I may of been a little bit hesitant previously, but upon reflection, I think I was in shock and maybe fearful that it was too good to be true, but after more research since I am happy to state my review stands as 10/10, sincerely based upon my experience with them. In fact I wished I could vote 12 !

Check them out for yourselves.

I bet you didn't make 12,000 pips like this guy.

http://www.articleshub.org/article/...urse-Graduate-Experiences-12000-PIP-Gain.html

 

[spinola]

I bet you didn't make 12,000 pips like this guy.

http://www.articleshub.org/article/...urse-Graduate-Experiences-12000-PIP-Gain.html

Ahh, ok well, I don't want any reverse market vodoo jinxing my performance. One day I hope to emulate his performance, and maybe if that greg trainer guy at K2Action is as hot as Partha Banerje makes out, then I would not set any limits on things.

Says you get a 2 hour free session too. These guys are giving away their time.....

 

[trader_dante]

dooo it....

btw dante is now a vendor.... I trying to shove a daft oriental gentleman who has NO CLUE ABOUT ANYTHING on him to be taught for free cause said dante sez it would enhance his reputation as able to teach any moron to trade... he initially agreed... but he's now not returning my calls

Is that you calling? I thought the withheld number might have been the Chicago and Burns Harbor...

 

[David99]

This thread's gone cold, a shame as it was getting interesting. As a newbie I'm interested in learning more from forums, books, courses, conferences or whatever. I'm not looking for the magic pill, but wish to bolster my experience wherever I can find some insight. That's why I'm here (and thanks to all the members that post a lot, seeing some really interesting stuff).

It was mentioned by Tim that reviewing courses etc would take weeks and months, but you plan to be around for a long time, so that doesn't matter (we're in no rush) and will make the site better in future. I'm sure that impartial reviewers could be found and agreed on, and I'm sure reputable companies would welcome a watchful eye (speaks volumes if they don't). If you could create really respected reviews on courses, software, books, etc and become the "Which?" of trading, that would bring more people (and more advertisers)

 

[montmorencyt2w]

dooo it....

btw dante is now a vendor.... I trying to shove a daft oriental gentleman who has NO CLUE ABOUT ANYTHING on him to be taught for free cause said dante sez it would enhance his reputation as able to teach any moron to trade... he initially agreed... but he's now not returning my calls

(daft unteachable is here:

Did he ever make it to Stockport? (or was it Gosport...?).