any good chat rooms in Paltalk & Hotcomm?

Update on JPJ trading. The room owner is Jim Pendlebury (not sure that is the correct spelling -- he only uses JP) is making his money from selling the room memberships. Current cost per month is $300 a month. He claims to trade a very large account with big positions. I paid to be in the room and myself and other members have determined that he must not really be trading at all -- just Paper Trading. He used a dial up connection for a long time -- just got DSL but still has DSL slowest connection. He trades with the J-trader platform. The reason we know his trades are phony is that he gets impossible fills both as entries and scaling out. I trade the same or more contracts than he probably does and with the fastest possilbe connection and trading platform -- I cannot get JP fills.

He runs the room with lots of entertainment and little real content and I suggest you Don't waste your money on this room. His room is Market Profile based using IRT software. Much better and cheaper ways to learn MP.
 
thx for ur information. wish others can post as detailed as you do.

I expect a successful emimi chat room moderator should have at least a T-1 line. Chat rooms & education services are a good business to make money in subscription fees. I expect to see lots of con artists. If they are really great they will be doing hedge funds instead.

This blog has been posting some of the sad fact:
http://tradersparadise.blogspot.com/
 
Yes ZXCV, you are right. A room member who has phone company connections offered JP to install a T-1 line at his home in Northern Michigan (where JP lives). Offered to install it for free -- and a monthly fee of 350.00 per month. JP did not take it. (why would he if he is paper trading?) He is really suspect and his calls are causing many to lose money. He also does what he calls a "MacGyver" -- this is adding to a trade (he is supposedly in) when the trade Goes Against him -- so in effect he is dollar cost averaging. He sometimes does this twice as the trade goes against him. If he is in truth trading about 100 contracts, then he would "MacGyver" and add 200 contracts to his original postion -- then if he needs a second MacGyver -- if it keeps going against him -- he is adding another 300 contracts -- so in the S&P I saw him take a loss on as much as 600 contracts. Ridiculous. JP is all talk and no substance. Save your money. Buy a book on Market Profile like "Mind Over Markets" by James Dalton. You will get more substance on MP than joining the JP room.
 
Here is the notes I took before:

JPJtrading 11/1/05
north MI

mostly ES, some russell and bonds
30 min MP chart
Do not trade in front of report if no profit more than 1 pt cusion
Scale in/out, buy more at stop, start small
squawk box, realtimefuture.com
No hard stop
stop loss:1.5 pt usually
target: ride all the way
take profit>1 pt
..............................

r they still the same as before?

I did not have a good solid feeling about his trading while attending his free room then.

lots moderator just talk & talk but I do not feel I could make money following them. then r wasting my time & money.
 
Quote from SarahG:

But Irc doesn't have voice. Not sure how they educate without voice. The trader wouldn't be able to pay attention to the market if he has to read the chat room all the time.
More...

We actually found that about half of the people very much prefer text to voice, about about half the people hated voice, they found it very distracting, and logs are not available for later review. Each person has a different way they learn best, and you can not accomodate them all. I think as a vendor you just have to pick which one you like most and then go with it. Personally if I was to do another chatroom I would probably do text with a ton of video...ie http://www.brandonfredrickson.com/gaps.html

Brandon

PS Magna or whoever is the moderator of this thread..even though there is still some old stuff up there of me selling this and that, you can see that the site has not been updated in nearly 2 years. I'm just using that as an example of how video can be put in with chat for a nice product, the brandonfredrickson.com site is no longer, and probably never will be again, active.
 
I like hotcomm with voice, txt & charts but it is not user friend to surf & it is not free. It is good for subcribed chat rooms only but others do not know how many in the room.

In Paltalk u can see how many in the room & it is free unless u want other features.

I do not like txt only chat rooms like mirc.
 
Quote from zxcv1fu:

I like hotcomm with voice, txt & charts but it is not user friend to surf & it is not free. It is good for subcribed chat rooms only but others do not know how many in the room.

In Paltalk u can see how many in the room & it is free unless u want other features.

I do not like txt only chat rooms like mirc.
More...

Most traders want a log of the trading discussions, realtime trade posts and learning via having the ability to review such any time they want.

The flaw with voice rooms is that there is no log unless your using one of the many third party audio recording programs (there's a fee) to record the the discussions in the trading room.

Also, as mentioned a few times before...

The best trading rooms (fee-based or free) are not on Paltalk nor Hotcomm.

They are usually private rooms using special collaboration software that has voice, video, txt, white board et cetera.

However, these software programs are more business orientated and cost a bundle.

Simply, the best rooms are usually free but the software needed to access these private rooms are costly.

We all know most traders want something useful for cheap and that in itself prevents finding what's really useful for their needs because the search is started via the software most vendors use for collaboration...

Software, that's usually cheap.

Heck, at least we got away from the email alert signal callers. :p

Mark
 
Couple traders and I run a private room on paltalk, email me your screen name and I'll give you the password to get in. We trade the emini indicies from open to close and we hav an 90% accurate prediction system that predicts the market's direction for the entire day.

Check us out, it's free and we'll never charge but we do limit our memebership. Newbies welcome as long as you have the desire to learn and don't need hand holding, we mentor several people for free.

I also show my trading screen through out the day through a screen broadcasting software. So we got lots of things going on.

mail@sdifinancial.com
 
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