stock picking site

So, in essence you are saying that you are not familiar with what we do and you judge using generic notion about all services.
Well, it always amazes me that in this particular industry people don't take into consideration simple fact that in any profession there are those that do their job poor and those that do it well.

I don't want to engage in discussion "hy teach if you can trade", I did it many times already, everything is said. I just don't like to be labeled by the very fact of what I do, with no distinction by the quality of the job we do.

Vad
 
I am not using generic notions. Just educated guesses based on my own previous experience. And common sense. It is easy to lose THAT in this business.

Look, you obviously have a good income generating method via a successful business model. In that regard well done, and good luck to you.

If it does not affect your business then of course you do not need to engage me in any discussion whatsoever. Just tell me to sod off. I would in your shoes!
 
Originally posted by Funster
Look, you obviously have a good income generating method via a successful business model. In that regard well done, and good luck to you.
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LOL, believe it or not, but trading is my major source of income.
I am not engaging because my business model requires it. I put almost two years of work in this endeavor and am proud of of what we achieved... so I don't want to be likened to those that really sell snake oil (an I know as well as you do and maybe even better since I have inside perspective, that there are plenty of them in this indusrty)

Vad
 
let's have a peek behind the scenes of chat room operations.
At first we were keeping track records at our site as most of services do. Doing that we realized that this is just total bs. This has no value except for service hyping, and those are misleading records. They make sense for position rooms, swingtrading rooms, newsletters but not for intraday trading. Traders that have experience with chat rooms know very well that their performance rarely if ever match track records posted. Let me describe several situations illustrating how it works.

1. Moderator calls entry. Stock goes in favor of call. There are traders of different styles in the room. Some take scalp, some partial out and trail stop. Operator (if he knows what he is doing) calls exits anfd trailing points for all styles. What is he to put in track record? Absolute high? But this is lie, this is rather potential of the call but not actual exit called for everyone. Traders have different risk tolerance and not all of them can handle wiggles.

2. Trader asks about stock he spotted. Moderator looks at the chart and explains the play. Is it "official call" to be put in tracvk record? Well, to tell you the truth, for many of services it is if it worked, and it's just comment to member's question if it didn't work.

3. Moderator calls entry. Stock goes in favor of call. After slight movement it reverses and hits the stop. What is to be put in track record? To tell you the truth, for many of services it's a winning trade. You haven't sold the top? Too bad, manage your trade!

4. Moderator calls entry on thin stock, just one memer gets fill, stock moves nicely. Official call, being put in track record... could you benefit from it?

5. There are 100 traders in the room for argument sake. No single call can be taken by all of them, so in order to keep traders in play moderator(s) call several stock so each trader could find what (s)he likes. You cannot play all of them, but they all go in track record. Result - your performance doesn't match track record.

6. Operator throws out 25 picks. At the end of the day he records stops and highs and puts great performance on the website. You are left wondering whether you were supposed to play all of them or somehow pick winners.

Those are just some of the tricks that make performance record useless and misleading for intraday chat rooms. That's why we decided to replace it with educational concept and started putting Play of the Day videos instead.

Any more questions about inside secrets of this business? (VBG)
I can answer them as long as I don't have to name particular services and persons. There is plenty of dirt in this industry (if you know the one without dirt let me know). Let's just differ good guys from bad guys and not label automatically everyone who is in this business. I hate reading things like: "they print articles by chat room operators so don't expect anything of value". Sheesh, like the one who says it is better trader than ANY chat room operator by the very fact that he doesn't run chat room. How the heck the fact that I run this business makes me lower being or worse trader than the one who elects to attack, not even being ever in our room?

Sorry if it's too much of rambling, just really getting sick and tired of automatic assumptions. If you want to know about what's involved, just ask... like I said, I will answer as long as I don't have to identify anyone.

Best regards,

Vad
 
<i>Why do people run a chatroom? Because they want your money! </i>

Why does a hedge fund manager manage money when he has $100 or $200 million of his own, much of which is collected via fee's? Guess what? <Gasp> he wants yer fleepin money. And, even better yet, he wants it with out having to risk much of his. Is he a lousey trader? Guess so.

B
 
Originally posted by arky
Since I am a self-taught aspiring daytrader I have been utilizing chatrooms for several months. My goal is to learn to fish, not be handed a fish for the day. You need to establish objectives and goals.

Yes I was a member of M-T for one month. I am presently a member of Undergroundtrader and RealityTrader. Today is my last day of a two week trail at Waxie's Trendfund. I did a trial at MTrader and Firetraders. They all offer something to someone or they would not remain in business. I can tell you I can certainly understand why they operate chatrooms. It is a LOT easier to make money from subscribers than it is to make money from trading. We are in a protracted bear market and I don't believe the bull market will return any time soon. If you don't catch some action by 11:00 expect to get chopped to death every afternoon. These conditions really suck. You need to trade very cautiously or you will get hurt.

I keep going back to undergroundtrader although I have cancelled three times. I just re-joined yesterday. If you do a search for my posts or the individual chatrooms you will learn enough to establish a list of chatrooms to explore and evaluate. The free trials are great but my experience was that you need more than one or two weeks to determine the true nature of the room.

I hope this helps you, good luck, you will need it in this market!

--arky
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Your at a different room and exploring a different style each week. How do you ever expect to "get it"?
 
Threei,

Of course chat room performance "records" tend to be wishful thinking bs. But I can find no reason in your post why an honest room operator couldn't post a realistic record, backed by brokerage statements. How hard is it for the operator to hit the buy button when he calls a stock and actually exit at some point, thereby establishing a trade. What difference does it make if the whole room doesn't take the trade or exit when he does? If the operator can't post a profit on his personal account, what chance do his acolytes have? How good is the supposed "education" if the teacher can't trade profitably?
 
Brandon,

Obviously a week or two is not long enough to evaluate how good a room op is, but it's plenty of time to learn the method. Most of these guys use pretty basic stuff, ie "buy a break of two day highs". If you can't learn the method in a day or two, the room is probably bs anyway.
 
Originally posted by AAAintheBeltway
How hard is it for the operator to hit the buy button when he calls a stock and actually exit at some point, thereby establishing a trade
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Very hard. Not hitting the button part but actually monitoring the trade and managing it. I already went over it, but let me repeat myself since we are discussing inside take on chat room operations.
Imagine: you are not aswing trader, you do fast enough daytrades. You enter the stock, what is next thing you do? You watch it. You react on what is happening. Now, imagine yourself being asked about different stock. You need to pull the chart, look at it, form your take and type the answer, and not in one word - people pay you for detailed answers, for explanations, not for "yes" or "no". All this time you don't watch your stock. Dunno about you but I am not comfortable trading like this. Next minute alert hits your scanner and you need again to pull the chart, make up your mind and alert the room - and again, you don't watch your stock.
See, it's not just alert and buy, then alert exit and sell. There is plenty of stuff involved. It seems easy for outside eye only. It impacts greatly your style of trading. Having this kind of obligations you have to adjust. My adjustment is playing either very fast scalps where I can be in and out within minute or two, or very slow ones where I don't see risk of bad slippage and can afford not too close monitoring. Thus, my personal trades will never be the same as calls in the room. Some of them, yes, but not all.

Vad
 
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