Where do REAL day traders chat?

Once those "hot tips" get posted to a board or into the channel...you're already late. Better to find and trade them on your own (imo).

But if you're starting out and trying to learn, then my experience is shelling out a little cash for a few months in a good room can help you gain knowledge and, in the long run, might save you some money (i.e. capital).

unfortunately, I'm not up on where the good ones are these days.
 
I used to use IRC 6 years ago. A lot of good traders. These days, I guess it's all spread out to different places. I see a few rooms on Paltalk. some of them are password protected.
 
I started out in niha's room

good room , niha is like one of the few traders who can consistently trade futures profitably.

I have left since I stopped trading futures but pop in once in awhile see whats happening.

The best benefit you can recieve from a chat room, is to watch the real time trades get posted,

When you start out , you will notice all your posted trades won't be making money while all the experienced traders will be posting up profitable trades, trade after trade.

You also won't be taking as many trades, because you'll look pretty retarded posting 10 consecutive losing trades.
At least I felt that way :D

Another benefit is the discussions of course. Sometimes things get discussed, shit you won't find in books. Real applicable information.

Its good motivation to step up your game.
 
Quote from steve46:

Excuse me,

I would like to give an opinion on this subject. It seems to me that good traders often don't like to be distracted. Personally I find it difficult to execute while a message screen is blinking off the side. My first priority is the decision making process. At this point in time, I have a single associate who has become a good friend. Periodically we maintain contact via IM. That is about all I can handle.

I also think that there is a difference between the retail trader who is looking to learn from observation and discussion during trading hours, and the professional who has already obtained his skill set and is trying to make a living. Although I am always open to learning new concepts, I am mostly focused on my work.

Thanks
Steve
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Dude,

You need to make up your mind!

One minute your a retired private fund manager and you only trade 1 contract of the ym and now your an active professsional trader.

Does it take all your attention to trade one contract of the YM?

:eek:
 
Quote from Steve Tvardek:

Agreed. I dont have AIM up anymore specifically because it can be very distracting while trading. While I can totally understand why a rookie trader would like to have constant contact with a veteran trader, I truly dont know why the veteran guy would want to. He has nothing to gain.

Personally I think Cashmoney would be better off trading by himself but writing down specific questions about things he doesnt understand or needs help with and then PM'img guys after the market closes to try and get some answers. The opportunity costs are just too high intraday for the seasoned pro.
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Agreed Steve, I am pissed at myself. I missed to good trades reading elitetrader and surfing the net! :p
 
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