OC for Stock Trading
Today I am thinking about the shared goal OC (online community) and about what would be in it. I am interested in what can be done in the arena of stock trading or betting (possibly the same thing).
The member’s goal would be to become a better trader or investor and to become a strategist rather than react to tips.
There is the element of timeliness – members might have to make decisions quickly – and are interested in the aggregate opinion of all the members. I see it as a set of channels that are different Web 2.0 motifs such as
- chats (one to one or group IM)
- profiles (controls detail of member’s portfolio they wish shared)
- tag cloud
- PM (private messages – internal email)
- shout-out (public messages to all members)
- news
- stock ticker
I left out blogs. Why? Because I see the membership looking not for a singular POV or tips but for the sentiments of the group. Further they are interested in quick decisions.
This kind of beast would weight what members have actually bought/sold or plan to trade near-term.
It is very important to integrate news, which would be done in the form of feeds. One key feature would be to search across all channels (via a filter set to select which channels to include in the search). Those would be returned in chrono order (selectable as forward or reverse listed) from which the member could scan and build up a narrative.
Provide access to the cross-promotion services such as Tweet, Digg, Delicious, FB trading, etc.
Groups within the OC would emphasize particular trading styles, e.g., buy/hold, value investing, day trading, etc.
What would the sponsor get out of it? If an online trading site put this together, they could realize more trade activity, better market placement, better marketplace buzz – make their site a more attractive place to be, gain the ‘unfair advantage’, visibility/customer awareness. A cluster of more interested and more active traders would create a lot of buzz and traffic, especially when they became noticeably more successful as a group.