What types of information do they have, or trading strategies? Is the room available for a fee or is it proprietary?
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Trading rooms: any good ones?
- Thread starter viclondon
- Start date
What types of information do they have, or trading strategies? Is the room available for a fee or is it proprietary?
paid2trade.com is a good site, its free too. Myself about about 12 others are in there on an almost daily basis.
I'm looking to add some active traders to share ideas with during mkt hrs on skype. PM me.
Quote from MyNickel:
I'm considering joining one of these day trading sites. I do not like holding positions over night! Could I get some reviews on them? thanks guys
UnderGroundTrading (jea you)
Natarus.Com
PureTick.com
TradeTheMarket
I have been a member of Puretick and Trade the Market's daily newsletter. I can write a lot about Puretick but I will jot a few positives and negatives. My conclusion is that you can not make a decent profit with Puretick and also with Trade the Market.
John Carter mostly uses his squeeze indicator and sets very large stops. Two stop outs in a row can really hurt. Hubert Senters, uses very small stops and reads tape and the ticks. He will use larger sizes because of his small targets. Either trader seems to have no problem with drawdown. They have free nightly videos. I feel that is good enough education from them.
Puretick also has many free videos. You can really get a feel for his trading system from that. Alex does explain his system many times in the room. I feel his system is flawed because he scales into a position. By that, I mean he adds to a position only when it goes against him. He never scales into a position that is going in the right direction. Profit Navigation does not work because of that premise. If he went in the position with full contract size and got out 7, 10 and 15 ticks like he teaches in his trading room, he would be profitable. This logic means that 100% of stop outs will be with a larger size than a good trade that works right away.
Also, I kept track of his buzzer and the price in his track record and it is right about 80% of the time. That may sound good but that is the difference of making money or losing money. Thus, the system using the buzzer is not more profitable than 80% and with 30 point stops and targets 7, 10, 15, it can not be profitable.
I recommend ThinkorSwim broker because they are amazing with all free stuff. They have two chatrooms that are free. One is with Shadowtrader and the other is with David Elliott. Both teach all day long. Shadowtrader, or Brad will go over the ES and the market internals all day. He will also give advice on any stocks you ask. Elliott through TOS gives all his indicatiors to you for free. He doesn't talk as much but teaches every night too.
Also, they have a free chatroom with tradersaudio, with Ben giving trader pit commentary.
The data feeds and charts etc are free. No monthly fees ever for anything. You can still tade on your platform but will need an active account to get all this.
The bottom line is that you can get educated for free.
Just replying to a previous post that you should avoid a signal room and look for an educational room, I completely disagree with that. How do you know the education works if they don't do live trades? Everyone can look like a genius with even just a few seconds of hindsight. Do you really need to go into a room and listen to, hey did you guys get that one? See how we made the hook off resistance, and the fibawibbadibba was below 2, that made for a great shorting oppurtunity.
Jon and Hubert will get stopped out over and over and over again. Three times in a row is nothing for them. Three times in a row with three contracts at 2 points each is a quick 18 points down on the ES. Then they will get a winner which will result in +.5, +1, and then break even, or maybe +2. Either way you would need lots and lots of winners to make up for a few losers, and believe me, you never get lots, and lots, lots of winners. They do not make money, they're liars. They used to sell systems on their site too, what happened to all of those? And the indicators are garbage.
People say their free videos are educational, but after you see how they trade live, why would you want their education. Do you too hope one day to get stopped out left and right and achieve tiny winners some of the time.
Pure tick is a thief. He will charge your card and make it nearly impossible to cancel. He probably sells your info and credit card number as well.
To the OP, what you're probably looking for is just a group you can chat with, who are trading similar things.
There are a few websites out there with group chats:
http://www.freetradingvideos.com
http://www.sandp500analyst.com
http://www.mypivots.com
I think there's also a chat on here although I've never been able to get it to work.
Jon and Hubert will get stopped out over and over and over again. Three times in a row is nothing for them. Three times in a row with three contracts at 2 points each is a quick 18 points down on the ES. Then they will get a winner which will result in +.5, +1, and then break even, or maybe +2. Either way you would need lots and lots of winners to make up for a few losers, and believe me, you never get lots, and lots, lots of winners. They do not make money, they're liars. They used to sell systems on their site too, what happened to all of those? And the indicators are garbage.
People say their free videos are educational, but after you see how they trade live, why would you want their education. Do you too hope one day to get stopped out left and right and achieve tiny winners some of the time.
Pure tick is a thief. He will charge your card and make it nearly impossible to cancel. He probably sells your info and credit card number as well.
To the OP, what you're probably looking for is just a group you can chat with, who are trading similar things.
There are a few websites out there with group chats:
http://www.freetradingvideos.com
http://www.sandp500analyst.com
http://www.mypivots.com
I think there's also a chat on here although I've never been able to get it to work.
Hi Joe:
I should have been clear about TOS chatrooms. They have a chat section that is not part of the real time video presentation with Brad or Dave Elliott. Brad will go over trade entries and exits in real time. He will even say what stock or the ES his is entering. I think it is the best you will get for a signal service. That is why TOS pays them to give us the service.
About John Carter, he has very large targets and uses the TTM rotation to get out of the trade which means he trails. He can have a lower win loss ratio because of that. Hubert Senter can not because of his smaller targets.
I think I did get some useful information from Puretick and Trade the Markets. I used careful analysis on what was good and what was in error on both sites. E.g. identifying trend, tape reading, tick interpretation
I believe that we can learn from anybody, including our enemies.
I hope that helped. Good luck.
I should have been clear about TOS chatrooms. They have a chat section that is not part of the real time video presentation with Brad or Dave Elliott. Brad will go over trade entries and exits in real time. He will even say what stock or the ES his is entering. I think it is the best you will get for a signal service. That is why TOS pays them to give us the service.
About John Carter, he has very large targets and uses the TTM rotation to get out of the trade which means he trails. He can have a lower win loss ratio because of that. Hubert Senter can not because of his smaller targets.
I think I did get some useful information from Puretick and Trade the Markets. I used careful analysis on what was good and what was in error on both sites. E.g. identifying trend, tape reading, tick interpretation
I believe that we can learn from anybody, including our enemies.
I hope that helped. Good luck.
Quote from otcstockfund:
on irc there a bunch of good trading rooms, most that i know of are on financialchat and othernet servers
Currently trying out puretick...or pureshit as some people call it on here. posted a mini review: http://www.elitetrader.com/vb/showthread.php?s=&postid=2788035#post2788035
You donât need a trading room, the garbage seeps into you sub conscious and will cause you to become less disciplined.
Are you lonely and need someone to talk to, whets the point of trading rooms? If you get bored just come here and laugh.
Are you lonely and need someone to talk to, whets the point of trading rooms? If you get bored just come here and laugh.