any good chat rooms in Paltalk & Hotcomm?

Quote from traderdon56:

Nana-

I think what Commodore means by the 5% club is that 95% of people are not profitable, leaving 5% that are.

Don-
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I not that dumb, and that was the question? I can see this
figure being tighten sometimes, is a way to discourage
traders will low self-confidence from trading on their own.

If 5% of participants are already Banks, MM, Instituation
, funds,..etc, then what are your chances that you can
make a living from trading?

This is my question? If so, i don't understand why the hell
people want to be a trader?

I believe it's should be at least 10% to maximum 15%.
 
Yes TraderDon, that is what I was referring too.

I am currently working with local funds and advisors on longer term trading signals and just leveraging my knowledge via different avenues. I am also tapping into managing others accounts.

This is a lonewolf business. I was thrown some bait and was challenged to go create my own fishing rod and tactics from the person that mentored me using the ideas and concepts he would occassionally toss to me. I have learned to fish very well over the course of 3+ years. Now I would like to do the same. In all honestly, I am not just going to hand over what has taken me 3+ years, 12+ hours per day to figure out, especially when my livelihood depends on it. I have had offers to mentor, I just don't have the time. If I ever did, it would be done in a fair way. Your fee for the education would be held in an escrow account with a lawyer until the education was finished, or possibly, the fee would be used to trade and when you have doubled the account, the money goes to the charity fund. So if I were to charge $30,000 to mentor someone, they would use the $30,000 to fund their trading account and when it goes to $60,000 they would pay. All done with goals, trading plan, and risk controls in place. I am not here to scam or ripoff anyone. I make you money, you save me money on my taxes, and we both help the less fortunate.

Out of nothing comes something, you just have to start it.
 
Guys... We all know the deal. Like commodore rightly noted, the "nots" make up probably 95% of the rooms if not 99. Now... when a guy comes in and suggests something in such a stand-up straight-up fashion - if realized, this would be the best (most fair) room I've ever seen - it would be the opposite of the 99%. I mean LIVE, not hedged calls? Who does that?:) So please don't attack this guy and give im a chance, my experience (long) with rooms/vendors tells me this guy is different.





Quote from commodore:

Hi,

I have been tossing the idea of hosting a trading chat room around in my head for a few months now. I periodically monitor the threads here on ET and came across this one. I have monitored many of the popular chat rooms out there so I am familiar with what exists and who is for real and who is not. Unfortunatley, there are more nots.

I have been invloved in the trading game for 3+ years now. I have had the fortune of being mentored by someone who really knew the game and how to play it properly. Before trading, I was a Project Manager and Programmer at a major Swiss Banking giant in the Northeast. It was there I caught the trading bug.

The initial objectives of this chat room will be:

1) To serve as a tax deduction against my trading income. A majority if not all of the fees collected will go to a charitable fund all verified by an accountant and lawyer. The fund will be created to assist families who have reached there wits end and need a helping hand to get them back on their feet. I have worked at The Rockefeller Foundation in NYC and have contacts and experience in this area.

2) Produce a reputation and performance record for this chat room.

3) Allow aspiring traders to make consistent money while they get their feet wet and decide if trading is for them or not. I don't really believe in paper trading. Aspiring traders need to remove the emotion as fast as they can if they expect to have a chance in this game. Allowing them to experience the feeling of pulling the trigger and making a profit and taking a loss day-in day-out is critical for success.

4) Provide a weekly education / Q&A session for members.

The trades will be called live as they occur. No hindsight BS. No shoulda, woulda, coulda. No Yes, No, MaybeSo. This will be a voice only chat room, no posting, no typing. I watch and trade many markets, I don't have time for that. I intraday trade and position trade. Initially, the calls will only be intraday using index futures, mainly the ES. The room could progress much more beyond this, but I am not prepared for it yet. The pilot of this program and it's positives and negatives will determine that.

The monthly fees have yet to be decided and no fees will be paid if the member has not made a certain amount of his capital. All members will be assisted in creating goals and trading plans to trade with. This will be the real deal. You will experience what it feels like to trade in an organized fashion with defined goals and plans.

I am open to suggestions, advice, and criticisms. The room will be moderated by myself and will have a backup moderator. Brokerage statements will also be provided showing the profits and losses for the day. Each member will have their own plan and goals depending on their capital, risk tolerance, and time available.

The decision to create the room or not will be decided based on the response and feedback received.
Anyone intersted in becoming involved can respond back to commodore_trading@verizon.net.

Regards,
commodore
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but your fund sucked.


Quote from progers82:

for a while, im going to start calling my trades via pall talk under business/trendline. your welcome for a while to join
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I don't know about this commodore guy something smells a little fishy to me.

BUT

If he can help people that are struggling in ET, then I will keep an open mind.

FOR NOW :p

As many know I moderated a few rooms and it was VERY difficult to trade and moderate.

I stopped because I would have had to charge $$ if I would have continued, do to missed oppertunties will moderating.
 
Hi Samson77,

I can respect you skepticsm, it's only natural. There will be nothing fishy. I just want to start and see the outcome. I am not doing this for any personal monetary gain. All profits will go to a fund to help others.

Like you say, moderating and trading is tough. I don't see how those hotcomm posters do it. This is why it will be voice only. There will be education along the way to get you to focus on the proper elements in order to achieve trading success. The room will be open for free I at the start so we can get to knwo each other and realize for ourselves whether it will go forward or not.
I intend to take it much further if it proves to be a success and does not impact my own trading.

regards,
comm
 
If you mentor at $30,000 a crack to "help the less fortunate" you will be able to feed Nations. Let me know when you get this rolling, I want to sign up.
 
Quote from Brandonf:

I did see that samson made it into my room this morning, so I was curious to get some feedback from him.

Brandon
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Brandons room was fun.

He is an upbeat funny, kind of quirky guy.

His technical analysis skills are good and he makes decent trading decisions with proven edges he has good money management and generally it was a positive experience.

The only negatives that I would comment on where.

He covers way too many trades and stocks, so it's a blanket effect, some work and some don't so different room members will get totally different results.

Personally I think a moderator should take a stand on 2-3 key trades max. so the whole room will either win or lose together.

That being said I'm not a stock trader as much as a futures trader and I know you stock guys can follow tons of stocks at any given time.

I stick by my original statement about Brandon!

As long as he is charging a reasonable fee, no more then $100 per hour imo, he is a definete alternative to just reading a good technical analysis book for those that may want or need that extra education, that being said I still think that most of the stuff he will teach you, is easy enough to figure out on your own with some screen time.

So there is my HONEST OPINION take it or leave it

:)
 
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