Very few rooms actually make calls that would be too easy. In my early days i tried some rooms. and when i got into market profile i joined a few lately to learn more. This is my opinion only: Please do not criticize i realize this is highly subjective. I have basically went to the opinion that nuggets must be uncovered they are not going to deliver the gold. And once you find a few setups do what i did trade them a little more heavy. Do not get greedy build month to month. I went from one to two to three and for me i stopped there except for a few short setups and i go heavier on thursday and friday when i am assured that i am gonna be more than enough up i have a few losers. After three setups i then went to the er and ym and put some on there on the same setups. So HERE IS MY BIASEd OPINION: I have basically went with theory of getting my price points and then combine with a few newsletters and if i get confluence that is what works for me. But it does not hurt to keep looking. I recently joined signal service that has been over 75% accurate since i joined two months ago and i will ride it to he is cold. Remember market changes and does get boring and sometimes quiet and cloudy here in wisconsin. But this thread for rooms For free room: mirc enthios on othernet and finacial chat has good site that is defualted can not remember. there is few people that have good ideas. But this takes time observing them for everyone that has good ideas maybe 10? either have no clue, are papertrading or it does not fit your style. targetrding.com seem ok accuracy but too many calls for me to blend yahoo im based LaCroix chatroom way too many signals for my trading quit right away. He is very boastful lost of calls. Did incorporate his theory of setup that does not fit your criteria but setting a short .5-.75 stop loss because the reward is so great, but i confine these to late in the day when i usually do not have setups left. Sp Guru:Would join on his free wednesday when he offered him. Absolute joke. Would call out point would not say if to take trade and then if went in his way would be in! Tactrade: Joined knew it was not my style: More trend continuation so no opinion. Alexander Trading was absolutely great> Tom was great was in for two months> I PICKED TWO THINGS That consistently went well with market profile and quit the room becasue they also did ongoing market profile that would confuse me. When i say great becasue of education. Millenium traders: Joke Kingfish: Knew three other traders that blew out 10k although they could probably blow out any system. but they did it rather fast. Acetrades: Joke. i started posting a few trade setups based on market profile and then he email me about how i knew when to enter. Feargreed.com was member joined it in 2002 had poor delivery service of singals was real scalped based which did not interest me. Could be improved he offers free day now for you scalpers mentality out there Knovamind.com was really good turned me onto murrey math price point trader since i am pr pt trader it gave me the idea of confluence. Good for education. A couple real good traders in there like Mike and English Bob. But then he turned his focus to only FX so no luck. Marketshamen was pretty good Marketprofile too many calls so did not fit personality. Have come across some successful Woodie traders never been in his room. But have exchange some of his pivots to find confluence with murrey math and fibnodes. www.moneytide.com i am current subscriber but do not listen to chat room. on Fridays, he has free daty i monitored it and he makes money but lot of little loser before he has one big winner. I just want his emails to look for price pt targets. Which turns me to one that has potential: Kingcambo but more important Slitrade.com I have been in here for the last three months. the main thing i get i by having slitrade as on of my brokers. I get the room free. Well this way i do not have to listen to news service. He is direct on the floor(squawk box) and i get to hear some good cavaets. Like if he thinks the locals are just running stops in midday. King cambo has bad rap here on et but i have found his newsletter to be good for er and dow(one of the few on er) it is 34.50 a month and is one of few that cover er that is why i was interested in it. KIng Cambo has good method. I repeat i do not follow his signals just follow newsletter because have been good for later in the day blowout trading. Tradinginthezone.com has a new platform with signals posted he has been good. Mostly winning months from a fellow friend of mine that follows. Had a big drawdown last August but is far ahead for the last 18 months. I repeat most of these i only signed up early in my trading life and a brief spell when trying to develop market profile early. Now i basically have the pit guy from slitrade and list to JohnPerson room to alert me on doji setups on the dow and then i used different entry than most of their traders. But now they are going paid and i would not pay for it. See SP guru above do not make calls ahead which is fine but then do not take credit for them either. Notice the ones that scalped trade i did not give very long. that is because i try a few setups a day so i might have judge them wrongly above. What i can say is rooms can really also screw you up. I looked at it more as I would trade MY setups and hang around and see if any good posters are there and pick there brains and i came up with the idea of confluence from Knovamind so that alone was worth it. And you may stumble on to one thetradinginthezone.com on paltalk will be worth monitoring. I have found him and tom alexander to be upstanding guys that want to help you make money not just take it. But IF IT IS TO BE IT IS UP TO ME IS WHAT I FOLLOW! NO FREE LUNCHES>< When is all said and done i do like going to rooms and get their consensus and if they all think we have a runaway i like to fade my numbers more. And i always goes back to what has worked for me and that is marketprofile but am sure glad that i went to Alexander's room and Greg's room in thetradingzone because they did cut down on my learning curve but after while the "NOISE" leads to self doubt. SO i think a room that is moderated by one and nobody else can talk would be the only way they can work for most traders. Otherwise they should be viewed as education. And that is what i do i joined a lot for trial i tried to guage if i could adapt one nugget to my trading. COULD NOT BELIEVE HOW MANY PEOPLE WOULD TRADE THE SIGNALS THE FIRST DAY. I have not taken any singals from above except for Kingcambo. ANd i noticed alexancer and greg from tradinginthezone to be good accurate and good. But not perfect and that is what people are looking for. Hope this helps
Gene in the bandtraders room is a real trader. He can't be followed, and you'll go broke trying. The man has guts. And never gives up. He makes good money most day's. And he used to be funny, I don't know about anymore.
drakebauer, Really appreciate your information. Your post is what we need in this thread. I think many traders like us have been around the block a few times, and been tried many chat rooms. If we can put our information together, we may find some chat rooms that are really good to use ( & find the fakes to stay away during the process).
Thanks for the link. Did eveyone check this out? They were down 10.10% for the year so far on their calls, which of course translates to a 30.3% annualized loss. Doesn't this speak volumes in itself about the realities involved here? I agree with the thoughts below from TGregg. Seems like a lot of posters in this thread are maybe looking for someone to do the trading for them. This gives the image of someone who is lost, without any real self confidence and sense of what they're doing, and maybe without a solid trading plan.
At least Pristine posts their performance. I wish all do that. 1 signal software was saying how great is the software & mentors are. Then they said they can make 2 ES pt per day per contract. LOL! Even I am better than that Then they want to charge $$$ for the training & software, etc. I can not believe that I heard that promo!!! One newbie I met in Money Show is making more by following the free manaul: http://www.tradershelpingtraders.com/marshmanual.htm He does not take any paid training or chat. Does not even know Marshall has a chat room in Paltalk. Trade a couple of hours & go golfing/fishing in other hours. Hopefully the information that we are finding out in this thread wil help saving time/money in the path of improving/learning our trading skill.
Well, then you probably don't need anything else. 2 pts per contract per day is good, most don't do any better and I yet have to see a chatroom that would do better consistently with just a few, 2-3 trades.