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Forexfactory Cheats Exposed!
On April 20 Forexfactory quietly unleashed a neat little feature that allows for more transparent voting by showing who has voted for and against an article...
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Posted: Apr 22, 2009 6:26am
Submitted by: simonwilson5
Category: News Archive
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5,257 Views
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78 Comments
ns_karthik, simonwilson5(2)(3)(4)(5)...(12), Patience, Trout(2)(3)(4)(5), NewstraderFX(2)(3)(4)(5)...(12), jbadoz(2)(3), Maxsmart(2)(3), Dave Floyd, KalaN, strategist(2)(3)(4)(5)...(7), blacksun1(2), Yohay, StockKJay, J12etnies, mikej, JCKriek, SpikeCharts, ice, arthurb, clockwork71, ForexDatasource(2), willf, piptrain, str8bullish(2), Guest, pippin_min(2), AlexanderS(2)(3)(4)(5), Radu_C(2), LonelyTrader, inflxshn, Piters, ak4x, PistolDave
ns_karthik
1,772 posts
simonwilson5
0 posts
Patience
5,501 posts
Well it made me giggle ... I always wondered who the "faders" were when I thought an article was really informative and now I know - you can run, but you can't hide - well not anymore ...
Trout
502 posts
NewstraderFX
935 posts
FF has a system where they can track double votes coming from the same computer, so that really doesn't happen.
But I can also tell you that it's very frustrating to spend a lot of time writing an article that gets voted down by the same people because they don't like you personally.
jbadoz
14 posts
The 3 most egregious, greedy cheaters, followed by 2 lessers are:
*fxinstructor - probably the worst of all, using tons of accounts to vote themselves up, even using 3 with names of people at the company or the company name itself
*spikecharts - tons of accounts all voting on each article, including multiples directly associated by name with the company (Manousarides, Spikecharts)
*forexmillion - has at least 4 voting accounts that vote on literally every article
*learningmarkets - double voting accounts from lmarkets and PFXGlobal, same company
*The LFB - double voting accounts, newstraderfx and thelfb, also lots of voting down competitor articles
Maxsmart
616 posts
Dave Floyd
498 posts
I will be honest - I post here to get attention and eyeballs, and given that I have been around for 15 years, my posts are often more well thought out than some of the 'Technical Analysis 101' garbage I see that seems to get glowing reviews.
Anyways, glad to see that a light is being shined on this practice. BTW - I vote for my own stories, just to be up front
KalaN
9 posts
Trout
502 posts
The bottom line is most of what's out there -- words and videos -- only contributes to the fact that 90% of account holders lose money. I prefer to be read by the other 5 to 10%. It's quality over quantity for sure.
Knowledgable traders who can also piece together an article have no problem getting their ideas and strategies published in magazines and even books, which makes them professionals, because they get paid for it. Contributors like these will always get enough votes to stay in the pack, and if you also notice, votes don't always equate to how many people actually clicked on the story.
I really wish I could give my best stuff away like I used to -- which were stories that always got the fewest votes lolol -- but it's not fair to the people who pay for it and publish it. Not to mention those amatuer offenders who poached it and reworded it the following week.
Bottom line, ya' gotta' love the freedom of expression and ideas for sure!!!
strategist
22 posts
I think that they are one of the best.
for the free service need to say thanks
why you can not assume that the same people can vote for articles of the same authors?
I did not notice that one had voted against the author by other authors
you have such statistics?
by this article, you create your site rating, but does not provide real information
Many who read this article might think that all that is written in pure truth, but where is it?
blacksun1
542 posts
but yeah, i never liked learning markets. they seem like a bunch of d-bags. i've pointed out flaws in their articles before, and then have had like thirty people attack me for it. even when i was right lol. so yeah, i wouldn't put it past them.
strategist
22 posts
Yohay
1,590 posts
I have only one account, and my full name is available here and on my site. I vote for my posts, since I think they're good
My only problem is with these companies that use many accounts to push their posts up. I hope that this transparency will cause these organized companies to stop doing this.
simonwilson5
0 posts
Then you sidestep by talking about fxinstructor, when they are the most obviou of all seeing that Mihaifx, jckriek, and fxinstructor account are all within same company ~ and there are far more fraudsters involved than that, are you delusional or just slow?
Now, LFB, really? I KNOW you cannot be this slow. Others do it so we had to? Ok well I guess we know where your ethics are. Why should it be ok for you to step over other business in a short term greedy race which gives you huge edges over tons of other posterrs. You are going to rationalize and start stripping your votes to hide them. Then you have the audacity to act like that cover up is a measure of good faith, as if that restores lost traffic to other providers you have stolen from? Nothing less than an apology was in order, but I see how you play, and all this from someone who tries to form voting alliances with other members, yes I also know about this.
I do know many things that go on in this industry so let's cut the crap.
strategist
22 posts
if the author likes his own article, why he could not vote for it?
blacksun1
542 posts
i don't know. this whole thing is retarded. it's like a little arguement war between little kids. "my article is better than yours, so i'm gonna vote yours down and mine up" lol. talk about immature. i thought these guys were supposed to be professionals.
simonwilson5
0 posts
strategist
22 posts
if my service is free, about what work can we speak?
I repeat once again that I did not see this, that one author had voted against the articles of other authors
strategist
22 posts
simonwilson5
0 posts
I WOULD ALSO LIKE TO HEAR IF FF MODS HAVE IDEAS, AS ISAID THE CHEATERS WILL JUST GROW MORE CLEVER
StockKJay
781 posts
simonwilson5
0 posts
jbadoz
14 posts
strategist
22 posts
jbadoz
14 posts
J12etnies
4 posts
http://www.youtube.com/watch?v=uZ5iN2dANu0
strategist
22 posts
I like FOREX - it's very interesting logic game that gives many-many moneys
yet it helps to see better market when you know that bear responsibility for the people who read your predictions
sometimes I do not wish to analyze the market, but I know that poor analysis can harm my trade
I know that people are reading my predictions that help them to trade and this understanding leads me to do market analysis to better, that increases the profitability of my trade
mikej
0 posts
JCKriek
0 posts
First of all, quite frankly, I find it rather offensive and tasteless to insult the work of ANY market analyst - both our FX Instructor guys, and anyone else at ForexFactory sharing their hard work with the community, for free. It is really NOT easy to write articles employing personal knowledge and experience, and then give them out to be judged and commented on - sometimes quite harshly. We do our best to write professional and really useful articles - which a lot of our subscribers sincerely like, and vote for them if they found them useful. These are people from all over the world, and we understand and accept their votes as appreciation of our hard work.
Yes, the three of us (Setyo, Mihai, and myself) vote for our work. If we can't vote for our own analysis - then we simply won't do it. 3 missing votes won't change the fact that we have support from our fellow traders who like our commentaries. FF already has safeguards in place that prevent the same people from using multiple accounts - and while people COULD theoretically go to great lengths (rented IPs, multiple PCs, whatever) to game the voting - it is simply unfair and shortsighted to suspect every positive vote as 'cheating'. If you think it would help the situation, then we would certainly support FF disabling the ability to vote for your own posts. Would it make a difference? I doubt it.
Yes, unfortunately our writers don't participate on the FF forums as regulars - simply because they have no time for this. We do participate actively on our own website and blog, analyze the market, trade, and teach other traders. Forex Factory is the best place where we can present our analysis for the judgment of all market participants and their peers - and until now it was a really nice and professionally run place for such exchange of ideas.
Readers rate our work up if they found it professional and useful, and this becomes a natural way of enforcing a quality standard. We are sure that grateful readers of Mr. Simon Wilson will vote for his posts too if they found them interesting, as they did for this particular post - it doesn't mean that Simon is cheating. It just means people are interested and in support of what he is writing, just as they support our work.
Maxsmart
616 posts
NewstraderFX
935 posts
There are no rules about voting for your own articles and asking your friends or people who subscribe to your services to vote for them. So if there are no rules prohibiting it, how can it be cheating?
The FF mods have been all over people with multiple usernames voting more than once. That's against the rules.
This is like trading; when you have a winning trade, you haven't taken the money from some anonymous "market" you've taken money out of someone's pocket. Is it nice? No. But that's what it is.
And let's face it. You used a provocative title, which isn't accurate anyway, in order to get hits to your blog (whether it is free or not is besides the issue). If you would have titled your article "FF Voting Policies" or something just as bland, the article would have gotten buried. But you didn't want that, did you?
Again, show me the rule that says it illegal to ask your friends to vote or to vote for your own article. The system as set up is ripe for gaming, i'll admit that, but playing the game by the rules is not "cheating."
I have occasionally voted fade on an article that I didn't think was all that good. But those fade votes amount to a tiny fraction of what's been posted here. I've also voted positive and I comment on other articles too.
So, to label me as a "cheater" when you haven't looked at all the articles and all the votes is irresponsible and inaccurate. All you've done is to game the system with a controversial sounding headline in order to drive hits to your free blog, which is exactly my point since we're all looking to drive hits.
BTW, I voted "fade" on this article because it has no relevancy to trading or to general knowledge.
But, I will show you how I don't game the system:
There's an article today in the WSJ regarding teenagers who do "Sexting", which is sending nude or semi-nude pictures of themselves to each other's cellphones: http://online.wsj.com/article/SB124026115528336397.html
NewstraderFX
935 posts
And if i did post it, I'm sure it would get plenty of attention and drive a lot of hits. But, IMO, it isn't right to post it because it isn't related to trading or economics. But if i did post it, would that be cheating?
simonwilson5
0 posts
I have definitely lost respect for 3 of the cheaters listed, because rather than confessing they are trying to rationalize it away. Fxinstructor is saying they thought it was ok for 3 of their voters to vote up their own article, lol. Also, they insinuate these are the only 3 accounts they control that regularly vote up their own articles. Like I said before, it only takes a few votes to keep something on the homepage where it will build votes naturally, and if you look at their voting stats they have way more than 3 accounts which they control voting up their stories.
Newstraderfx - yeah my friend this is not a post about voting policies it is about VOTE FRAUD - hence the title, which you seem to want to forget that you have multiple accounts voting the same article over and over again which is "against the rules". You think I care about traffic to that blog, I will never use that blog again, this post was about exposing the massive vote fraud at forexfactory by a few bad apples.
So I guess the cheaters are rationalize their cheating and trying to call it another name, and minimize it. Rationalize this guys: lots of people will not stoop as low as you, but if you want it one way, you have to take it that way across the board. In other words, if you get to have multiple accounts voting, I guess everyone else should too to even the odds right? And then it becomes a big rat race to see who can control the most accounts. Guess what smart aleck JCKriek, you say your vote fraud makes no difference, I submit it is the very difference that accounts for approximately 90% of your views. Total bologna, Im not sure who is buying the crap your are selling, but I for one was not born yesterday. How would you like it if I used many accounts to vote down you articles and vote up mine? How would you like it if it was more than just me doing it? Luckily, you probably have little to worry about in that department, since it seems you guys are a very small minority and most act in good faith.
Good luck selling your BS.
At least there is hope for the 2 of 5 left that have not come on here trying to justify like a crackhead to a cop.
SpikeCharts
0 posts
Why do you judge in a such irresponsible way? Let me prove you how WRONG you are, at least for SpikeCharts case.
Please click on Lena’s article on FF and then click on the full story link. Now, scroll down to reach the bottom of the article and tell me what you see. You see the green + icon Forex Factory provides to vote for a story. We have implemented a functionality to vote for Lena's articles on Forex Factory though SpikeCharts’ blog. We had it in private for only few users, those users that vote for her articles all the time. These users are real people subscribed on our RSS and get notified instantly when a new article is posted. After reading the article they vote on FF using this cute button. I don’t think there is any fraud here.
Don’t you feel a little bit ashamed now calling our voters fraud?
simonwilson5
0 posts
As such, I will only respond again if someone has a suggestion for solutions at this point.
NewstraderFX
935 posts
Aside from that, what crap is being sold anyway? The articles i write are researched, checked, and presented with as much accuracy as i can find. The vast majority of the articles here are the same.
ice
25 posts
arthurb
494 posts
Peace of course
NewstraderFX
935 posts
And how do you know who has what accounts?
simonwilson5
0 posts
NewstraderFX
935 posts
"*The LFB - double voting accounts, newstraderfx and thelfb, also lots of voting down competitor articles"
What is "lots"? What is the exact number? As i said, I have faded articles occasionally (as well as +) but i also know the total of fade votes amount to a tiny fraction of the articles that are posted here. So what are the numbers that you have? You must have numbers because you said "lots."
clockwork71
6,527 posts
Of course, if someone would do something about the assholes who keep sending me advertisements via Private Message, like CurrenC, we'd be talking.
NewstraderFX
935 posts
ForexDatasource
7 posts
Newstrader, I will be as diplomatic as possible. You miss the point. There is a news posting etiquette: you contribute an article and hope that its merit takes it to the top. You also hope that no guys with agenda will vote it down before it sees the light of day.
When you invite others to vote for you, you are taking it upon yourself to arbitrarily raising its significance. I am sure that you have a significant readership from your site. Good for you. But just because you can, do you have to bully your way to the top? Does that make your opinion better?
Another point, and this one is more personal. There was a few months last summer/fall when my postings got pretty high marks. Closer to the end of the year, I started to get voted down a lot and comments from you and people who have been recommended or you have recommended started posting less than friendly comments to my postings. These are verifiable facts - just go through my postings.
It is this game playing or working of the system that was key for me not contributing as much to the FF news section this yea. I would put 10-15 hours preparing something worthwhile to say in my weekend reports only for it to be trashed in minutes - not cool.
The day when the new voting system went into effect, Samuri, one of your buddies voted down a story of mine - perhaps unaware that he was being recorded.
Just because I may not like your style or some of your points does not translate into voting your stories down. Will you please try to live by that same rule?
ForexDatasource
7 posts
I think we cannot leave FF off the hook on this discussion. The layout of the news section invites this type of problem.
Perhaps there should be an editorial board that gives "quality content" a permanent place in the page, another option is for administrators to assign an "editor's choice" label on occasion to any good posting. News stories voted up by any viewer would continue to have a spot in this new News page. These ideas are not new, Jade Gate has been trying to get this system up for many weeks/months. Perhaps more serious consideration is warranted.
Another preventable problem: "Calendar News" FF's own posting machine is a major part of the problem. Could you just have a section where Calendar News posts its articles instead of drowning the rest of the contributors out? Thanks!!
NewstraderFX
935 posts
Here's an exact sample of what I'm talking about when people make accusations with false info:
First, I do not know who Samuri is, yet you are convinced he's one of my friends. Then you imply that i told him and other people to start making negative comments on your articles. That is TOTALLY UNTRUE!
Where the hell does this come from?? This is unsubstantiated garbage and worse than that, it's a complete LIE!
There are no "verifiable facts" here with regards to anyone posting less favorable comments on your articles. I absolutely deny ever telling ANYONE to post negative comments on ANYONE's article-yours included.
Now, I don't remember if I posted on your articles or not. But I do know that if I did, while I may have disagreed with something you said, or debated it, I would never make "negative" comments out of hand. Example:
You: "Bernanke seems to be implying so and so..."
Me: "Bernanke seems to be really saying this and that..."
That's a discussion-not a negative comment.
You: "Bernanke seems to be implying so and so..."
Me: "You're a moron if you think that..."
That's not a discussion. It's a negative comment. I don't do that to anyone.
Your asking me to use a certain "etiquette." Fine. But where is the "etiquette" in making totally false accusations?
Trout
502 posts
willf
825 posts
Trout
502 posts
piptrain
270 posts
str8bullish
187 posts
str8bullish
187 posts
Guest
IP XX.XX.47.221
pippin_min
91 posts
NewstraderFX
935 posts
Show me where RTT said $100 oil when it was $145 like I did, even after Goldman said $200.
Show me were they or anyone wrote about the "4 figure trade" in the pound. The pound fell this as much as it did when Soros shorted it in '92 and I called it.
I called the end of the dollar bear market last May.
I've said for months to buy China and I'm telling you now: one of the best investments you can make is with the double short Treasury (long end) ETF. See you in 2 years and then we'll see who the amateur is.
Why short Treasuries? Look at the TIC data and look at the reduced build in Chinese $ reserves. Look at the swap arrangements China is in the process of setting up with its South East Asian trading partners. Know why they're doing that? So they can settle trades in Yuan instead of dollars. Know what that means? It means China and its Asian partners are going to have far less need to re-cycle their reserves into Treasuries, which means less demand for them from foreign buyers as the US will drastically increase the supply in order to fund the bail outs and stim packages.
Pop quiz pippin-squeak-min: Increased supply and decreased demand means price will go _______ and rates will go_____ (fill in the blanks).
simonwilson5
0 posts
Forexfactory is busy, it takes alot of time to do what they do day in and day out, but I am sure they are debating what to do, if anything. It is very hard sometimes to make everything fair and sometimes not worth it for someone like forexfactory, you can only put in so many resources. In any case, I hope to hear from them, if nothing else a "we are working on it". I also think while NewsT posts good stuff, it is laughable to suggest his quality ran everyone off scared, I mean are you serious?
Believe my, if you were honest guys, and some dishonest guys like you were doing to you what you do to others, you would not be calling it a joke. 70% of your traffic is coming from FF, that is a pretty chunk of change eh. Guess they are not flocking in from places whose voting system you cannot game, just ff. Cheers!!
simonwilson5
0 posts
pippin_min
91 posts
AlexanderS
29 posts
Maxsmart
616 posts
AlexanderS
29 posts
simonwilson5
0 posts
Radu_C
15 posts
LonelyTrader
2 posts
What is with you people?
NewstraderFX
935 posts
Analysis by NewstraderFX As hard as you may find it to believe, it looks like the weak Dollar trend has bottomed and that the Dollar is poised to make some recovery. The currency most likely to suffer the largest loss against the Dollar is the Pound. The Euro should lose some value as well and certainly, without a major change in the present circumstances, the Euro will not be heading towards new records.
NewstraderFX
935 posts
AlexanderS
29 posts
Radu_C
15 posts
NewstraderFX
935 posts
Without a writer doing any "seeding" NO ARTICLE WOULD EVER STAY ON THE FRONT PAGE EXCEPT IN 1 RARE CIRCUMSTANCE.
Follow my logic:
You have the "most recent" box that has 2 articles, then you have the "most useful/24 hr" box with 7 articles, then you have the "most useful/3 day" box with 3 articles.
Now, even in the middle of the night, you have articles coming into the "most recent" like every 11 minutes. During busier times, they come in much faster. Once something is posted in the "most recent" box, IT MUST GATHER MORE USEFUL VOTES THAN THE LEAST USEFUL ARTICLE IN THE "MOST USEFUL" WITHIN A COUPLE OF MINUTES OR IT IS KNOCKED OFF"
I know that's the way you set the system up, but as is it CANNOT WORK. Here's why.
On average, my articles get about 1000 hits. On average, I get something in the neighborhood of maybe 20 total votes with 2 to 3 of those coming from me and 1 or 2 people I know.
That means, on average, there are about 18 discrete votes out of the 1000 people that read the article, which translates to a voting percentage of about 1.8%.
The least "useful" article in the "most useful" box right now (08:45 EDT) has 5 useful votes. In order to beat that, I have to get 6 useful votes. But only about 1.8% of the readers bother to vote. That means within just a few minutes of posting something, I have to get 333 readers, figuring that about 1.8% of the readers vote.
THAT IS IMPOSSIBLE TO DO. NO ARTICLE CAN GET 333 HITS IN JUST A FEW MINUTES THEREFORE, NO ARTICLE CAN EVER STAY ON THE FRONT PAGE EXCEPT FOR THIS ONE RARE OCCURRENCE:
You have to be lucky enough to place your article pretty near the exact time that the least useful of the ""most useful/24 hr" box" is going to expire. That is the only way, without doing some seeding, that ANY article will ever see the light of day and stay on the front page.
AlexanderS
29 posts
inflxshn
69 posts
this isn't about who votes for what or why, it's about the same problem the US faces every election; voter participation.
Look at the number of views of this post, now look at the number of votes. Now whether or not if one person looks at the post several times and each time from the same computer is taken as a different vote or not, every day there are posts available that are not that popular in votes with lots of views, so it can be assumed that numerous people look at the posts and never vote.
A lot of this would iron out if each person who read a post voted on it. Just like in a regular election, the higher the turnout, the less the chance of a statistical skew from actual voter sentiment. And like always, taxes go up a percent or down two it's either capitalism or socialism. If the person you like gets elected it's the truth, if someone else gets in it's a conspiracy.
This article was slander pure and simple. Assumptions based on extrapolation of one persons interpretation of what they called evidence or proof. Take a logic class and you'll soon see how meaningless all this is.
AlexanderS
29 posts
Trout
502 posts
Piters
9,432 posts
you are too transparent!!
What you are trying to proove here?
FREE promotion??
lol too transparent.. too transparent..
memebrs Lounge is the best place for...
cheers guys!!
simonwilson5
0 posts
ak4x
6,612 posts
I've found much of the work of many of the Trader's that you're demeaning here to be everything from helpful to very valuable on the merits of what they Post.
You (Simon) sound way to Strident and Vitriolic for me to take seriously and I'm not interested in whatever agenda you're on about...
I will give you a Nod for making the Case for the importance of Voting however, which I confess to being somewhat Ignorant about the full ramifications of before now.
That said... you (Simon) get a Fade from me and I trust that factoid is registered in my "wherever they keep those things" list.
PistolDave
623 posts
"Want to help? Vote regularly!!! A powerful community vote mutes manipulation and brings the best stories to the top! Submitting good stories you find around the Internet is also very helpful."
Everyone should take the time to get involved and at least express an honest opinion of what is being posted here.
Guest
IP XX.XXX.79.93
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