Chat Rooms - Trading oriented...

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Love is the greatest blah blah blah.
 
yes, I meant the one by Mark Douglas, should be more specific, just forgot about the same title by Ari Kiev :)

I understand what you mean. Disciplined Trader was the eye opener for me too at the time, and when Trading in the Zone came around I read it not as life-changing book, rather like: great book, too bad it wasn't written yet when I was struggling. I think it would have even greater impact on my approach had I read it back then and my way to consistency would have been shortened.
"I am already there, but with this I would have been there faster" kind of things :)

Vadym
 
Vadym,

Nice to see you on the boards :p I hope all is going well with you and reality trader....

Candle,

Definately pick up a copy of Trading In The Zone; anybody that takes this game as seriously as you do should have a copy in their library...

PEACE and good trading,
Commisso
 
Hitman,

I strongly urge you to settle down your disposition, for if you dont I am sure the market eventualy will......

PEACE and good trading,
Commisso
 
"sorry, can't agree with you on easiness of trading and commenting at the same time"

Well Chris claims to trade hundreds of thousands of shares successfully while commenting as well.

We may be talking at crossed purposes here. I am not interested in whether you can personally trade your own account successfully. I am interested in whether the calls made in the trading room can be traded successfully using a trading room account.

Trading room calls entry, click button. Trading room tracks the call they made ( a necessary component of the service, no?). Trading room calls exit, click button. Doesn't seem difficult to me, or are you saying that the room as a whole is distracted from tracking the calls made and from calling the exits in a timely manner? That would seem like a poor service.

Even so, we all have our crosses to bear. Sometimes my wife decides that she really needs to tell me something at 9:35 in spite of my previous admonitions. I just ignore her and surely someone in the room could ignore distractions while the trade is on.
 
I guess that TradeRX has rematerialised under the name of Protrader1! Nice to have you back old chap... most of us missed you in a funny sort of way.

Originally posted by ProTrader1
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Love is the greatest blah blah blah.
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duffer,

Well put. It seems to me there are three issues floating around in all this.

1. Does the site operator claim to be or have been a successful trader? If so, I think it's appropriate to ask for some proof. If I apply for a job and claim to have gone to Harvard, wouldn't they check it out? This question of whether or not the operator can trade is contentious because those of us who do trade, like Hitman, resent the hell out of phonies.

2. Does the room produce useable calls that are profitable? This is dufferdon's point. With all the technology these guys employ, how hard is it to record the actual calls? Any room that can't do this should clearly label itself as "educational" only.

3. Finally, there is the "we aim to educate, not call winning trades" approach. You are supposed to cough up $300/mo to see examples of the guru's approach pointed out in real time. Why it is necessary to have them in real time if the purpose is purely educational escapes me.

Obviously, I am skeptical of the value of chatrooms, but I also recognize that no one is forced to join one. Hitman, I don't think you need to go on a crusade against them. I have enough faith in the free market to let it deal with the phonies.
 
Candletrader..

i have both of Mark Douglas books.. "The Disciplined Trader" and "Trading in the Zone".. the second one is somewhat more specific than the first one, and for me it was easier to understand.. there is some overlap though.. but i think it was worth the cost of both books..

-qwik
 
I personally feel that scalping has the least risk of any method and once you master it, its yours from now on. Longer term traders are subject to ego crashes and blowouts but a scalper like hitman may have a bad day or week but if he's down with the game hes not going to lose it. You just get better.
 
Originally posted by easyrider
I personally feel that scalping has the least risk of any method and once you master it, its yours from now on. Longer term traders are subject to ego crashes and blowouts but a scalper like hitman may have a bad day or week but if he's down with the game hes not going to lose it. You just get better.
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I tend to disagree with that where scalping is better than swing trading.......I feel are equally good & its all up to the person trading to make his or her own decision & game plan.......

Where did all the daytraders go ??? Do you realise how many scalpers have been blown out of the game ? swing traders also..........but doesnt matter what you do.......you would win or lose equally as fast or as much..........just in 2 different ways......Just as you said a big overnght move hurts if your in a trade & it is against you..............A smart swing trader isnt going to commit as much capital to one position as a daytrader/scalper because of the overnight exposure & a daytrader/scalper has to earn alot more money thru alot more trades than a swing trader because of commisions & short term winners & losers just to net what a swing trader will make if all things are equal...........so in the end it comes to this......only the disaplined, well funded traders with a solid methodology last long term & make money..........If your consistant, doesnt matter what you do..........If your trading 1000 shares for 3 pt trade or 10,000 for 30-40 cents it all comes down to consistancy....a guy with 1000 shares could have a 2-3 pt move agsint him as fast as a guy with 10,000 shares has a 1-2 pt move agsint him on bad news...the higher the shares the higher the exposure & when you have a move agaainst your position.........you think its hard getting filled on 500 -1000 shares.........goodluck getting out on 10-20k shares when there nobody to take the other side of a adverse move.., how long does it take the scalper that looks for 20-30 cents to overcome a adverse move agsint him ?.............so whatever is your flavor..........consistancy, disapline & a robust methodolgy is best & as far as your time frame, scalp or swing.........doesnt matter as its all a personal matter......this is just my opinion, I think it sucks for scalpers with low funded accounts had to be tossed into a swing trade game with the new SEC rules as this isnt a big positive for them having to learn a new method & having overnight exposure..............chris
 
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