Social Swing Trade Picker - Would You Find It Useful?

[DJ7THD]

I'm considering creating a new tool for stock traders that I believe could be beneficial to the community. The idea is a 'social swing trade picker' where users would submit their ideas for stocks that they believe are about to break out, and the community can upvote or downvote them. This would allow for the highest quality picks to rise to the top, and could result in great opportunities for short-term swing trades.

I'm curious to know if other traders would find this tool useful?

I'm open to any feedback or suggestions on how to improve this idea. Thank you in advance for your input!

 

[Quantt]

My advice is build whatever you are passionate about and see where it goes...

 

[FranziskaSchulz]

Why not? I think that can be useful..
Create it and share it with us
You can earn a lot money by creating a tool and a community like that!

 

[DJ7THD]

Why not? I think that can be useful..
Create it and share it with us
You can earn a lot money by creating a tool and a community like that!

Thanks for your thoughts. I am almost done with the coding. I think it will be so useful for a community of swing traders to vote stocks up/down based on their setups.

 

[timsk]

If I remember rightly, IG has a sentiment indicator based on the net positions of all its clients. Dunno if that's still the case and I've no idea how it's weighted, i.e. would one person with 100 long contracts counterbalance one hundred people each with one short contract, or would the sentiment be 99:1 to the short side? Trading View has something similar based on technical indicators and rate each instrument: strong sell / sell / neutral / buy / strong buy.

 

[DJ7THD]

If I remember rightly, IG has a sentiment indicator based on the net positions of all its clients. Dunno if that's still the case and I've no idea how it's weighted, i.e. would one person with 100 long contracts counterbalance one hundred people each with one short contract, or would the sentiment be 99:1 to the short side? Trading View has something similar based on technical indicators and rate each instrument: strong sell / sell / neutral / buy / strong buy.

That is very interesting, thank you for pointing that out. I also wonder how this sentiment indicator would be weighted. I will do some research.

On my app, which will be called "Stockvote" by the way, will have a voting system which grants recent votes greater weight than older, ensuring the daily leaderboard remains highly relevant. This will need to be tweaked to get it perfect. I would also like to add higher weight to more experienced traders, which could be achieved by monitoring each voters results and assigning a score to each user.

IG is obviously an outstanding platform, but my dream is to have a platform which only does one thing, "stock votes", and to be the best at that one thing. Feedback from you and other swing traders is the only way to get something we would all want to use.