oh, btw, u still need to give me your e-mail address. 
Chat Rooms - Trading oriented...
- Thread starter limitdown
- Start date
happy new year alll, be richer next year
limbo, i think he's a sweetheart!
i thinks its mutual, he once said 'we are like brothers'
Happy newyear all!
Live long & prosper!
ProTrader1
i thinks its mutual, he once said 'we are like brothers'
Happy newyear all!
Live long & prosper!
ProTrader1
TradeRX
DEFINITELY = Protrader1
POSSIBLY = steet010203
Happy New Year!
DEFINITELY = Protrader1
POSSIBLY = steet010203
Happy New Year!
Just a couple of exhortations with respect to having constructive dialogue and discussion.
"If a man will begin with certainties, he shall end in doubts, but if he will be content to begin with doubts, he shall end in certainties. " -- Francis Bacon
"It is what we think we know already that prevents us from learning. " -- Claude Bernard
"He who is not satisfied with himself will grow; he who is not sure of his own correctness will learn many things. " -- Chinese Proverb
"Never argue with a fool. Someone watching may not be able to tell the difference." -- Anonymous
Good Trading in the New Year
"If a man will begin with certainties, he shall end in doubts, but if he will be content to begin with doubts, he shall end in certainties. " -- Francis Bacon
"It is what we think we know already that prevents us from learning. " -- Claude Bernard
"He who is not satisfied with himself will grow; he who is not sure of his own correctness will learn many things. " -- Chinese Proverb
"Never argue with a fool. Someone watching may not be able to tell the difference." -- Anonymous
Good Trading in the New Year
Important exerpts from this discussion...
1) there are those who trade and supplement their "capital" (read trading capital, expense capital, salary capital, keep-sane capital) from EXHorbitant membership fees. Recently, the highest was quoted by DonB as $750 monthly, with many in the $300+ range
2) alternatives to this extreme dereliction of choice do exist -- simply put, whenever as a trader, you acquiese to needing someone else to make the calls, then you've given up the most lucrative asset you became a trader for
3) frequent examples of: "$500per day * 22 monthly trading days * 11 months per year) == healthy salary" are really flawed due to:
-- a) expectation that what happened will repeat successfully, FOR YOU
-- b) expectation that you can successfully repeat winning trades over losing ones
-- c) inadequate recognition of the losing trades and where they place in the "sort order" of the examples -- simply put, have your losses first and YOU'RE OUTTA HERE....
reliance upon trading chat rooms remains a luxury that serious traders should use as an Hor'Derve (did I spell that right?,, who cares, get the point). But reliance upon them to make your calls reduces you to chasing trends and hoping that there's still life in the trend for you to profit from.
50:50, only for the chat room owners.
Fools Gold, only for the subscribers
HINT: (( read that last sentence again "but reliance..."))
1) there are those who trade and supplement their "capital" (read trading capital, expense capital, salary capital, keep-sane capital) from EXHorbitant membership fees. Recently, the highest was quoted by DonB as $750 monthly, with many in the $300+ range
2) alternatives to this extreme dereliction of choice do exist -- simply put, whenever as a trader, you acquiese to needing someone else to make the calls, then you've given up the most lucrative asset you became a trader for
3) frequent examples of: "$500per day * 22 monthly trading days * 11 months per year) == healthy salary" are really flawed due to:
-- a) expectation that what happened will repeat successfully, FOR YOU
-- b) expectation that you can successfully repeat winning trades over losing ones
-- c) inadequate recognition of the losing trades and where they place in the "sort order" of the examples -- simply put, have your losses first and YOU'RE OUTTA HERE....
reliance upon trading chat rooms remains a luxury that serious traders should use as an Hor'Derve (did I spell that right?,, who cares, get the point). But reliance upon them to make your calls reduces you to chasing trends and hoping that there's still life in the trend for you to profit from.
50:50, only for the chat room owners.
Fools Gold, only for the subscribers
HINT: (( read that last sentence again "but reliance..."))
limit..
you forgot two things..
1) - education.. a chat room is a great place to look over the shoulder of an experienced trader.. also, we become like the people we associate with.. and so being around people who have a proper mental approach to the market allows us to duplicate that approach ourselves..
2.) - more eyes see more things.. its not possible to watch every stock that might be in play during the day, especially at the open.. and so its nice to be in an environment where trading ideas that you might not otherwise see in time to take advantage of are presented and discussed.. today was a good example for me.. i was long chkp and issx at the open and had just shorted atvi when Allen called a long on the Q's.. so i pulled up the chart to see what he was talking about.. it looked good and it turned out to be a nice trade.. my point is that i had 3 open positions and though i had time to enter another one if the opportunity arose, i didnt have time to flip through a bunch of charts fishing for something..
that said.. i recognize that there are rooms out there that dont teach anything of value and have moderators that couldnt trade their way out of a wet paper bag.. i was a member of one of those for a couple months.. but that doesnt mean every chat room has no value.. the key is to take the trial and ask yourself a few questions..
1) does this person trade himself/herself? if no, ditch it..
2) can this person explain to me in simple terms exactly what they do and how they do it? if the answer is no, ditch it..
3) what are the results of the trading ideas presented in the room? it shouldnt be too hard to figure out after a week.. if they suck, ditch it..
4) does this style of trading fit my personality and my business plan?.. if no, ditch it..
5) did i gain enough in trading opportunity and market education during the trial to justify the expense of the room?.. if the answer is no, ditch it..
its really just not that hard..
-qwik
you forgot two things..
1) - education.. a chat room is a great place to look over the shoulder of an experienced trader.. also, we become like the people we associate with.. and so being around people who have a proper mental approach to the market allows us to duplicate that approach ourselves..
2.) - more eyes see more things.. its not possible to watch every stock that might be in play during the day, especially at the open.. and so its nice to be in an environment where trading ideas that you might not otherwise see in time to take advantage of are presented and discussed.. today was a good example for me.. i was long chkp and issx at the open and had just shorted atvi when Allen called a long on the Q's.. so i pulled up the chart to see what he was talking about.. it looked good and it turned out to be a nice trade.. my point is that i had 3 open positions and though i had time to enter another one if the opportunity arose, i didnt have time to flip through a bunch of charts fishing for something..
that said.. i recognize that there are rooms out there that dont teach anything of value and have moderators that couldnt trade their way out of a wet paper bag.. i was a member of one of those for a couple months.. but that doesnt mean every chat room has no value.. the key is to take the trial and ask yourself a few questions..
1) does this person trade himself/herself? if no, ditch it..
2) can this person explain to me in simple terms exactly what they do and how they do it? if the answer is no, ditch it..
3) what are the results of the trading ideas presented in the room? it shouldnt be too hard to figure out after a week.. if they suck, ditch it..
4) does this style of trading fit my personality and my business plan?.. if no, ditch it..
5) did i gain enough in trading opportunity and market education during the trial to justify the expense of the room?.. if the answer is no, ditch it..
its really just not that hard..
-qwik
It might be not a proper thread, if so I apologize, but I'd like to know your opinion on the chatroom hosted by Ken Calhoun at daytrading-university.com. Anyone studied there? It's prety expensive so I'd like to know what you guys think of that room so I can make a better decision. Thanx in advance.