What chatrooms are good and what to avoid?

Chatrooms just don't work!! Save your money, buy books etc and look what works and what not! If a chatroom would work, everybody would join them. Most chatroom operators don't trade the stocks they recommend, and there's a reason for that! They only want your money, So watch out!
 
Pappuci thanks very much. Can you be very explicit and elaborate on your experience with daytradingcoach.com. Were you there or did he come to you? I'm very interested in this so I'd appreciate knowing as much info as you're willing to provide. I dont see any nyse sample trades on his site. Is he up on nyse too? Did his coaching improve your trading. Were you looking for help in any particular area? Did you work with him for a long time? Since I'm asking alot-if you'd prefer to email me -Please do--much thanks for your reply.
 
www.traderalliance.com is a chat run by a few good traders and it is free.

I dropped in a while back and they seem to know what they are doing. However, I would only recommend it for newbies as there are very few serious, established traders there.

And unfortunately, as in elitetrader.com there is one or two persons who are only there to annoy the hell out of everyone with innappropriate remarks.

I wish there was a similar site somewhere with a bit more established traders and a more professional/serious tone.

Oh I almost forgot there is always praetorian2's place at yahoo (search elite trading in yahoo clubs)
 
Yes, I can only imagine a site with a professional coach as operators for three, or four, small rooms.

The team players qualify by providing past year(s) Capital Gains reported to the I.R.S. meeting a minimal R.O.I., and taking a psychological aptitude test.

After review of a trader’s application, and test results, they are placed in the appropriate trading room. Graduation to the next level (Room) is once each year, again based on Capital Gains Reported to I.R.S.

I believe that good traders are individuals, not needing nor wanting, to be part of others thoughts. Until reaching that level, the chat rooms can guide, but paying is not needed.

Jeffrey
 
Originally posted by Babak


I wish there was a similar site somewhere with a bit more established traders and a more professional/serious tone.
More...

I am looking into trading the futures market(NQU1 E-Mini Nas) exclusively from currently trading NASDAQ commom stocks.

I came across, and skimmed over, this site today .http://dacharts.com/index.htm . It focuses on the NQ's. The founder and his friends post their trades, and share idea's. He states the benefits of trading in a group.

I am assuming that these traders have consistency.

Main Point: A few traders sharing idea's to improve their trading skills. When you see a philosophy like this turn to a pay site its time to leave, or understand a change in philosophy to collecting dues, and/or building a following is not in the best interest of individual traders.

I may start observing to identify consistency, that I aspire, along with an atmosphere which allows creative thinking.



Jeffrey
 
http://www.undergroundtrader.com/ was very useful. Jea takes a tough love approach to the game and teachs quite well. Further RAL (Russell Arthur Lockhart) does some great work with futures and options, as well as longer term portfolio stuff. His approach is more holistic to the market. Further, the members themselves are a wealth of knowledge. I highly reccomend the "pit" to anyone either cutting their teeth, or looking to broaden their understanding of short term and swing trading.

Not affiliated.

oneway
 
As a previous member of the underground pit for 6 months, i have to respectfully disagree with Oneway. The tools/strategies taught there were unworkable for me, and i'd have to believe that given the range contraction we've experienced in the NAZ over the last couple months, these strategies are even more problematic today. It's very difficult to play the live calls made in the room, because stops and targets were rarely given. It was left up to the individual trader to decide upon these............keep that in mind if you review the Daily Recap of room calls which is on the site.

I have been in many other chat rooms as well, so hopefully i can save you a little time. Most post results that are totally bogus. The single instance i have come across where this was not the case was Allen Zuckerman's room at Mtrader.com. The results he posts there are real. All entries, stops and targets are called well in advance of actual prints at those levels. You can review Allen's performance on his site. Not surprisingly, his recent performance has deteriorated - but the integrity of the results posted is second to no other room that i've come across.

By the way, i am not affiliated in any way with Allen's room, nor am i presently a member.

Good luck
 
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