Make us your home page
Instagram

Wesley Chapel resident's Web site like MySpace for stock traders

IN THE CENTER OF THE MARKETSPHERE GALAXY — Lane Mendelsohn has enjoyed playing God.

In three years, the 28-year-old Wesley Chapel resident created a whole planet for a community of people who love to make money. No, it's not the Ferengi, that profit-driven race of Star Trek lore.

It's for humans drawn to trading stocks, commodities and currencies.

Land on traderplanet.com and you'll find a place with a topography that includes Profit Peaks and Volume Valleys.

Here's how the site describes itself:

A popular destination for internet-galactic tourists, TraderPlanet's gravitational pull is several times that of Earth. Its strategic position in the Financial Universe between the Bull and Bear constellations makes it an ideal environment to breed successful traders on a collaborative quest for education to help themselves and others.

"It's kind of like a MySpace for traders," said Kristel Messer, 23, a recent graduate of Indiana University, registered user of TraderPlanet and a beginning trader.

"I've found one of the best things to do is to watch a stock and really research the history of stocks before you buy," she said, adding that she enjoys the practice trading feature the site offers.

It's the brainchild of Mendelsohn, whose father, Louis, was a trading software pioneer and is now president of Market Technologies, where Lane is the vice president.

But the younger Mendelsohn is adamant about his site not being an arm of Market Technologies or any brokerage firm.

"We wanted to be independent and unbiased," he said. "A lot of stuff out there is tainted. And we wanted to provide high-quality content."

Here's how it works: Registration is free for users, who may access any part of the site, including expert analysis, tutorials, quizzes, online seminars, e-mail and blog spots. Users also can post photos and profile information about hobbies, favorite books and movies and family.

Mendelsohn is selling ads to support the site, which is led by editor-in-chief Darrell Jobman, an editor at Futures magazine for more than 15 years.

"He's a legend," Mendelsohn said. "He has no ax to grind, no product to sell."

Since the site went active a couple of weeks ago, 500 people have signed up as users.

To some, an economic downturn might not seem like the best time to launch a site devoted to trading. But to Mendelsohn, a perpetual optimist, the timing couldn't be more perfect, especially as retirement programs such as Social Security and traditional pensions shrink or disappear for his generation.

"Now more than ever (users) need to become educated and can benefit from the edge TraderPlanet provides," he said.

It's not Mendelsohn's first foray into the cyberspace. Three years ago, he started TraderEducation.com with the same goals in mind. But that site lacked a real-time aspect, which Mendelsohn says is critical in today's economy. TraderPlanet is an upgrade. On the new site, users can exchange instant messages and get up-to-the-minute trading information.

One feature that Mendelsohn says is unique to his site is its support for charities.

Members can use the site's currency, called Mendels, to donate to charities such as the American Cancer Society. One Mendel is worth a penny. Members can accrue Mendels by buying them or by contributing material to the Web site. Mendels donated to charity are converted to real money by the site's operators.

"There's a lot of greed in this industry," said Mendelsohn, who, despite his family's wealth, drives a 1999 Ford Expedition. "We want to encourage members to be successful but also to give back."

Lisa Buie can be reached at buie@sptimes.com or (813) 909-4604.

Wesley Chapel resident's Web site like MySpace for stock traders 11/16/08 [Last modified: Thursday, November 20, 2008 8:42pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. 'Road to Nowhere' is back: Next phase of Suncoast Parkway coming

    Roads

    Despite intense public opposition and dubious traffic projections, the Florida Department of Transportation has announced that construction of the toll road known as "Suncoast 2" is expected to start in early 2018.

    The Suncoast Parkway ends at U.S. 98 just south of Citrus County. For years residents have opposed extending the toll road, a project dubbed the "Suncoast 2" into Citrus County. But state officials recently announced that the Suncoast 2 should start construction in early 2018. [Stephen J. Coddington  |  TIMES]
  2. A sports rout on Wall Street

    Retail

    NEW YORK — Sporting goods retailers can't shake their losing streak.

  3. Grocery chain Aldi hosting hiring event in Brandon Aug. 24

    Retail

    BRANDON — German grocery chain Aldi is holding a hiring event for its Brandon store Aug. 24. It is looking to fill store associate, shift manager and manager trainee positions.

  4. Lightning owner Jeff Vinik backs film company pursuing global blockbusters

    Corporate

    TAMPA — Jeff Vinik's latest investment might be coming to a theater near you.

    Jeff Vinik, Tampa Bay Lightning owner, invested in a new movie company looking to appeal to a global audience. | [Times file photo]
  5. Trigaux: Look to new Inc. 5000 rankings for Tampa Bay's future heavyweights

    Business

    There's a whole lotta fast-growing private companies here in Tampa Bay. Odds are good you have not heard of most of them.

    Yet.

    Kyle Taylor, CEO and founder of The Penny Hoarder, fills a glass for his employees this past Wednesday as the young St. Petersburg personal advice business celebrates its landing at No. 25 on the 2017 Inc. 5000 list of the fastest growing private companies in the country. Taylor, still in his 20s, wins kudos from executive editor Alexis Grant for keeping the firm's culture innovative. The business ranked No. 32 last year. [DIRK SHADD   |   Times]