Live Trading Rooms????

Hello All!

I am just curious what any of you have to say about Live Trading Rooms...Specifically "View My Trades".

I am having a terrible time trading my own money and I have reverted back to a "paper money" sim acct for now until I can figure out someway to "get it together"!!!

Any points of view are welcome and MOST appreciated..

Thanks

John in Toronto

 

My concern about these trading rooms has always been that they are "pumping and dumping." I would stay away.

 

Hi rmorse...

Thanks for repyling to this thread. At the risk of sounding completely noobish, what exactly do you mean by "pumping and dumping"?

thanks

JD

 

Those Live Trading Rooms are for bottom feeders. (no offense to anyone)...kind of similar to subscribing to a stock newsletter when to buy/sell, what's hot ..what's not...etc etc.

I'd stay away from them...and continue to learn and practice on your own.
...sooner or later, a light bulb will go off in your head ops: that finally makes you a profitable trader.

 

Take a position in a stock that is illiquid. Then post that you have a position. 200 members of a trading room that follow that trader, then jump in while that trader unloads his position into the demand he created. Pump up the stock then dump it.

http://www.investopedia.com/ask/answers/05/061205.asp

 

Anybody that can profitably trade (and that is a rare accomplishment) will opt to make a living from that, not from selling services and advise to others. Think about that

 

Wouldn't it be wise to scout these guys and play tricks on them (ie, sell ahead of them).

 

I'm usually watching a trading room, it makes me feel less lonely.

Make sure they are professionals, make sure they are not trying to reap money form subscribers and that they are trading very liquid markets, to avoid being caught in pump and dump, among other scams.

The ones I watch are free, provided by brokerage firms. You get to watch it for free as long as you trade with that brokerage firm. You can ask questions and all that jazz, the traders are basically teachers.

These are not English speaking rooms, but the concept is great and definitely something traders from other countries should think about.

 

Thanks to all of you who have replied to this thread so far......great info and advice!!

 

everybody is dead (as a trader) in those live trading rooms...

accept the reality - trading is for loners