Chat rooms for ES, which one?

Quote from zxcv1fu:

I just delete Dr BOB from my original reply here cause I find a new info right after my post. Just read in another site about Dr Bob is going to do an IPO of his Traderhaven. I do not know what is going on but like to withdraw my not-up-to date post about him since he has a commercial interest now. I though he is free. Guess it will not be long.
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Hi zxcv1fu,

Via your other thread on chat rooms...

I thought you were only interested in fee-based or commercial based chat rooms based on a few comments in that other thread ???

http://www.elitetrader.com/vb/showthread.php?threadid=49805

Regardless, do you see any difference between the free signal calling rooms and the fee-based signal calling rooms besides the obvious cost ???

I myself prefer the free signal calling rooms because usually (not always) the head trader is more approachable and usually reveals the details of the strategy behind the signal calls.

However, eventually the good free signal calling rooms go fee-based and usually after the rooms get very large.

Mark
(a.k.a. NihabaAshi) Japanese Candlestick term
 
I do not care if it is free or not. But I do not like to post it is a free room then find out it is not or will not be long. I double checked with someone else, he said the IPO stuff is just joking. The room is free.

There are lots of chat rooms around. Some are free. Usually when they are in the position to charge money, most will. I do not mind if the room is fee based, as long as it helps the members to make much more money.

In Paltalk you can look at the member number increasing or decreasing as some kind of indicator of how long the members last or how good the marketing is. Not that clear cut but helps. I am still waiting to have someone made lots of money in one of the chat rooms to post:)
 
Quote from zxcv1fu:

...In Paltalk you can look at the member number increasing or decreasing as some kind of indicator of how long the members last or how good the marketing is. Not that clear cut but helps. I am still waiting to have someone made lots of money in one of the chat rooms to post:)
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I prefer the smaller rooms and the ones that are private but still free.

The larger public rooms tend to have more noise and too many ideas being thrown into the bucket at the same time.

Usually in the larger rooms I use the private message feature to commicate to the head trader or good traders in those rooms instead of posting my messages in the open.

As for the definition of lots of money...

Everybody has there own definition due to their own needs or goals.

Simply, what's yours ???

Here's mine...turning an unprofitable trader into a profitable trader that's able to pay his/her bills.

For example, there was and ES private free trading room where the 2 head traders were averaging about 2.50 points per contract on an average of 3 trades per day.

To some traders that's not enough because they have high goals.

To others...its enough.

With that said...I'm more interested in the education behind the trades so that traders don't remain dependent upon the signal caller.

Thus, they users eventually learn how to trade on their own with the same information being used by the signal callers.

The above room in reference is no longer taking any more members and currently has 9 members that requires all members to post their daily broker logs including the head traders to get into the room.

If it becomes open to the public again...

I'll let all know about it.

Mark
(a.k.a. NihabaAshi) Japanese Candlestick term
 
I hope you wont mind if I offer an opinion?

I believe that chat rooms are of limited use. I think the best you can hope for is to find a generous person who knows how to trade and is willing to let you see how they do it for a limited time.

From my point of view, it is the thinking process that is important not the trade execution.

Also I feel strongly that there are certain personality types that need structure, and those who do not. I would say "know yourself first". If you are one of those people that need a structure handed to you, very well then, a chatroom may be just your thing. IF NOT, you want to learn the business of trading by observation and then become master of your discipline. I use these terms intentionally. Trading for people of independent mindset is largely a matter of learning and maintaining discipline. I found in my case, that I could find an edge, but I would still become sidetracked, get bored and take bad entries because I did not have (possess) discipline. It was when I learned to pass on everything else except my own researched signals, that I started to see immediate improvement.

Chatrooms can be helpful, but understand who you are first, and know why you are there.

Thanks.
Steve
 
True. It took me a few years to find what kind of trade I am & what will help me to improve my trade. For now I think the best room for me is Market Vu's room. I still trade options besides futures. They watch the similar things as I includes oil & bond.

I will post a few in the room sometimes to contribute but find I could not concentrate.
 
watching a profitable trader do his trade, is like watching someone drive a car.
You have to do your own research, practice etc, to have a mentor or join a trading room will not make you a successful trader.
Its like money, it will not give you happiness but will make your life a hell lot easier!
 
Anyone have any experience with PageTrader's S&P Messenger?

I have heard decent things about them from one trader I know, but he hasn't used them in a while. I figure a few on ET could probably offer some more concrete insight.

Looks like they have a free trial, so I will probably do that soon and report back if anyone is interested, but if anyone out there has any longer-term insight into performance, or ability to learn from them, it would be much appreciated.

Thanks,
EnzoF
 
Quote from EnzoF:

Anyone have any experience with PageTrader's S&P Messenger?

I have heard decent things about them from one trader I know, but he hasn't used them in a while. I figure a few on ET could probably offer some more concrete insight.

Looks like they have a free trial, so I will probably do that soon and report back if anyone is interested, but if anyone out there has any longer-term insight into performance, or ability to learn from them, it would be much appreciated.

Thanks,
EnzoF
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I did the free trial a little bit ago. It is actually not a chat, but a pure signal service with major and minor support/resistance areas forecasted, and then entries, exits and stops called.

Since there isn't any back and forth chat there is no real talk of how they determine the S/R levels, just the calls, so the educational opportunity is limited to what you can observe.

I had heard about it from a friend who had subscribed a few years ago, and he did ok with them for a time and thought the guy's market insight was pretty good.

I really can't comment on profitabilty because I decided to skip subscribing to do something else, but the four days I was there the logic of the calls was sound and it did pretty good.

Not sure that was much help, but there ya go.

Maybe others have more info..

Dodger
 
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