Crowdsourcing represents the act of a company or institution taking a function once performed by employees and outsourcing it to an undefined (and generally large) network of people in the form of an open call.Jeff Howe, Jun 2006
Ideas
BitDripTrader - Algorithmic Online Broker
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The Idea
BitDripTrader will provide a unique online trading experience and a quantitative fund based on the wisdom of crowds. BitDripTrader will be the first online broker to offer automatic algorithmic trading and use the best of our customer's algorithms in our own quantitative fund.
Online brokerage usage is booming. Banks and hedge funds are using quantitative algorithms to dictate money making trades. Until now consumers were restricted to pressing a buy or sell button and monitoring their portfolios themselves. BitDripTrader allows consumers to create their own trading algorithms, back-test them, then put them into practice in an easy drag and drop environment. BitDripTrader will have two main sources of revenue, brokerage fees and revenue from our proprietary fund. The brokerage fees come in two forms. Customers can choose a flat monthly membership fee or a per trade commission. The proprietary quantitative fund will be driven by the best performing algorithms at the brokerage.
I thought of this idea when I was...
When I realized I didn't have have the time to constantly monitor my investments.
Comments Posted
Great idea!
Of course there are a lot of things to consider here, but nothing that can't be overcome.
You could rank algorithms by success and then give royalties to the developers or something.
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