Jack Broz
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any good chat rooms in Paltalk & Hotcomm?
- Thread starter zxcv1fu
- Start date
Mark,
thx for ur informative post!
Since I started this thread I do post summary uptodate so no one needs to reads back all the posts to gather what we have achieved so far: WE HAVE NOT FOUND ANY ONE CHAT ROOM THAT IS DOCUMENTED PROFITABLE! Do not pay anyone subscription /member fee for the room. u will be wasting ur time and money.
The search is on still.
thx for ur informative post!
Since I started this thread I do post summary uptodate so no one needs to reads back all the posts to gather what we have achieved so far: WE HAVE NOT FOUND ANY ONE CHAT ROOM THAT IS DOCUMENTED PROFITABLE! Do not pay anyone subscription /member fee for the room. u will be wasting ur time and money.
The search is on still.
Quote from Trader28Lite:
Jack Broz
Jack may be a floor trader & knowledgeable, but he does not call precise entry, exit, etc. Therefore he does not have to document his performance. The only good thing is he is in the exchange. Sometimes he goes to the actual floor to check with floor traders. I do not know if it is valuable or not in online trading.
Otherwise he sounds like many other moderators, very fussy which is not a good thing!
What we r looking for is someone have precision system with clear entry/exit/target/stop/money mangement, etc. The record can be audited.
Whenever someone said everyone has different trading style, or see different pattern, or use different time frame or take different approach... therefore there is no documented performance available (we all heard these all over the places), RUN! Do not believe some members said they made money ( like in TI's thread before). u need to be able to make money yourself!
Education is a big money making machine. Many snake oil salesmen r in the field to sell their service. If they really r very successful they do not need to spend time to sell u their education. The time can be more productive spending in their own trading. They r in the business to have u fork over $$$ in many ways. It is ur job to do ur due diligence.
Invest ur time before u invest ur money!
Quote from zxcv1fu:
... therefore there is no documented performance available, RUN! Do not believe some members said they made money. u need to be able to make money yourself!
Education is a big money making machine. Many snake oil salesmen r in the field to sell their service. If they really r very successful they do not need to spend time to sell u their education. The time can be more productive spending in their own trading.
Ok...
What's the point of this thread if such is the case because you are the thread starter???
My point...why not ONLY discuss signal calling rooms that have an audited or verifiable trading record.
Simply, you can't have it both ways.
You should change the title of the thread to ONLY talk about trading rooms that have verifiable trading records.
Results will be the same so far in this thread.
Yet, I do agree with you about one thing...the signal caller should document his/her methodology as in revealing it if that's what your talkikng about.
Then again, if the signal caller does that...members will stop coming after a few months and trade the method on their own.
The good thing in this thread you've started is that I've never heard of some of these signal callers and that in itself may lead to something good just in case someone is looking for something besides just a signal caller.
Mark
Very interesting!
First I feel since I started the thread I am responsible to make sure others to do need to waste time reading pages of posts to gather the information. This is what I wish others did to save time. Time is money!
Second If the moderator is good the members should be able to learn/ follow the system precisely to make money in a short time. It is like in cooking if the rceipe is good & complete, anyone can follow & dulplicate the result. That's what we r looking for: a money making system that can be followed successfully with moderators drill in.
Another good example is like the medical doctor & patient: If the doc is good the patient will be cured in no time. Some docs may not want to cure the patients right away to make more money. (I had this happened to me before.) therefore it is to our best interest to find a GOOD doctor.
A good chat room's moderator should be profitable by trading in my book. The members should be able to learn & make money in a reasonable time frame.
First I feel since I started the thread I am responsible to make sure others to do need to waste time reading pages of posts to gather the information. This is what I wish others did to save time. Time is money!
Second If the moderator is good the members should be able to learn/ follow the system precisely to make money in a short time. It is like in cooking if the rceipe is good & complete, anyone can follow & dulplicate the result. That's what we r looking for: a money making system that can be followed successfully with moderators drill in.
Another good example is like the medical doctor & patient: If the doc is good the patient will be cured in no time. Some docs may not want to cure the patients right away to make more money. (I had this happened to me before.) therefore it is to our best interest to find a GOOD doctor.
A good chat room's moderator should be profitable by trading in my book. The members should be able to learn & make money in a reasonable time frame.
zxcv1fu
Registered: Aug 2001
Posts: 902
01-09-07 10:26 AM
<i>Very interesting! First I feel since I started the thread I am responsible to make sure others to do need to waste time reading pages of posts to gather the information. This is what I wish others did to save time. Time is money!</i>
Please allow me to emerge from the proverbial woods (while 15min charts are congesting) to chime in here. It is absolutely correct that no trade room per your expected criteria can ever exist. The pure mechanics of market action and trading itself prohibit such, so feel free to stop searching.
You've been here for nigh on six years now. Let's assume you are a profitable ER emini trader. You can turn 10 - 20 contracts per trade, hit about 50% win rate and average +1pt profit per trade over the course of time. Good show!
Now you open a live trade room, posting exact entry and exit signals for the followers. At first, your group is small. Those who follow your trades EXACTLY make money. There will always be others who come in the room late, leave early, take a trade outside of what you signaled going the other way, hesitate on your signal because xyz indicator from that other guy causes them to balk, etc.
You are profitable, some of your room members are profitable, some are not. That is purely the human element of operating = following trades inside a live room environment.
*
In spite of the human-element failures, you do so well overall that word spreads about your room being hot. Over the course of time, you enroll 200 subscribers who all trade the ER. That membership turns 2 contracts on average apiece, or 400 ER contracts collectively.
You post a signal to sell ER 800.40 in the room, a setup which has worked for you 50% of the time with 3/1 profit-loss performance. That was on 10 - 20 contracts entered for you. This time, your 20-lot is joined by 400 more contracts from your new best friends.
Care to project where the average fill going in will be? Think that might affect the individual fills coming back out?
**
The sole purpose of a live room is educational. No financial market can support a "sheeple" type operation where large number of subscribers can execute trades exactly, or even closely. There is no financial instrument that cannot be totally overwhelmed, including the ES and for sure all other eminis / all FX symbols.
So... please do save your money from live room operations that ever purport they can provide signals for unlimited masses to follow. It cannot happen purely do to liquidity limits of any instrument, and it absolutely will not happen due to core human nature of blind following = limited faith & trust.
Hope this helps someone. Back to lurking in the woods for me :>)
Registered: Aug 2001
Posts: 902
01-09-07 10:26 AM
<i>Very interesting! First I feel since I started the thread I am responsible to make sure others to do need to waste time reading pages of posts to gather the information. This is what I wish others did to save time. Time is money!</i>
Please allow me to emerge from the proverbial woods (while 15min charts are congesting) to chime in here. It is absolutely correct that no trade room per your expected criteria can ever exist. The pure mechanics of market action and trading itself prohibit such, so feel free to stop searching.
You've been here for nigh on six years now. Let's assume you are a profitable ER emini trader. You can turn 10 - 20 contracts per trade, hit about 50% win rate and average +1pt profit per trade over the course of time. Good show!
Now you open a live trade room, posting exact entry and exit signals for the followers. At first, your group is small. Those who follow your trades EXACTLY make money. There will always be others who come in the room late, leave early, take a trade outside of what you signaled going the other way, hesitate on your signal because xyz indicator from that other guy causes them to balk, etc.
You are profitable, some of your room members are profitable, some are not. That is purely the human element of operating = following trades inside a live room environment.
*
In spite of the human-element failures, you do so well overall that word spreads about your room being hot. Over the course of time, you enroll 200 subscribers who all trade the ER. That membership turns 2 contracts on average apiece, or 400 ER contracts collectively.
You post a signal to sell ER 800.40 in the room, a setup which has worked for you 50% of the time with 3/1 profit-loss performance. That was on 10 - 20 contracts entered for you. This time, your 20-lot is joined by 400 more contracts from your new best friends.
Care to project where the average fill going in will be? Think that might affect the individual fills coming back out?
**
The sole purpose of a live room is educational. No financial market can support a "sheeple" type operation where large number of subscribers can execute trades exactly, or even closely. There is no financial instrument that cannot be totally overwhelmed, including the ES and for sure all other eminis / all FX symbols.
So... please do save your money from live room operations that ever purport they can provide signals for unlimited masses to follow. It cannot happen purely do to liquidity limits of any instrument, and it absolutely will not happen due to core human nature of blind following = limited faith & trust.
Hope this helps someone. Back to lurking in the woods for me :>)
Quote from austinp:
...Please allow me to emerge from the proverbial woods (while 15min charts are congesting) to chime in here. It is absolutely correct that no trade room per your expected criteria can ever exist. The pure mechanics of market action and trading itself prohibit such, so feel free to stop searching.
You've been here for nigh on six years now. Let's assume you are a profitable ER emini trader. You can turn 10 - 20 contracts per trade, hit about 50% win rate and average +1pt profit per trade over the course of time. Good show!
Now you open a live trade room, posting exact entry and exit signals for the followers. At first, your group is small. Those who follow your trades EXACTLY make money. There will always be others who come in the room late, leave early, take a trade outside of what you signaled going the other way, hesitate on your signal because xyz indicator from that other guy causes them to balk, etc.
You are profitable, some of your room members are profitable, some are not. That is purely the human element of operating = following trades inside a live room environment.
*
In spite of the human-element failures, you do so well overall that word spreads about your room being hot. Over the course of time, you enroll 200 subscribers who all trade the ER. That membership turns 2 contracts on average apiece, or 400 ER contracts collectively.
You post a signal to sell ER 800.40 in the room, a setup which has worked for you 50% of the time with 3/1 profit-loss performance. That was on 10 - 20 contracts entered for you. This time, your 20-lot is joined by 400 more contracts from your new best friends.
Care to project where the average fill going in will be? Think that might affect the individual fills coming back out?
**
The sole purpose of a live room is educational. No financial market can support a "sheeple" type operation where large number of subscribers can execute trades exactly, or even closely. There is no financial instrument that cannot be totally overwhelmed, including the ES and for sure all other eminis / all FX symbols.
So... please do save your money from live room operations that ever purport they can provide signals for unlimited masses to follow. It cannot happen purely do to liquidity limits of any instrument, and it absolutely will not happen due to core human nature of blind following = limited faith & trust.
Hope this helps someone. Back to lurking in the woods for me :>)
This is very true especially with the trading instrument Emini ER2 or the typical day trading signal calling room.
Yet, it may not be true for the signal calling rooms involving swing trading or position trading.
I strongly feel there should be some education (useful info) that accompanies a signal caller so that even those not making money can walk away with some useful trading info they can apply on their own.
Has there been discussed in this thread any swing trading or position trading signal calling rooms ???
I just think its too difficult for day traders to be consistently profitable from a signal caller especially as the trading room grows.
Thus, swing trading or position trading signal calling rooms may be more suitable even though most want day trading.
Mark
What about Woodies? It's a freebie room.
Read Gurus Crapola ( lower right hand corner of the following link) for info about Woodie:
http://tradersparadise.blogspot.com/
http://tradersparadise.blogspot.com/