Chat Rooms/Stock Picking

Discussion in 'Trading' started by Cormac, Feb 8, 2002.

  1. Cormac


    The arguments/rants against chat rooms and stock picking services have gone from the sublime to the ridiculous and the ridiculous to the absurd.

    I can't comprehend the merit in this ongoing argument re: the validity/worth/effectiveness/honesty/integrity of these various and nefarious services.

    That being said I would like to give my two cents on this battle...


    That felt good but was about as counter-productive as the majority of the posts on this subject.

    Please...those that have made productive and erudite comments, forgive is not my intent to lump you (I am sure that you are secure enough for me not to have to identify) together with these antagonists that have invaded the common sense of these threads and forums -- please continue to rise above their masturbatory rhetoric -- oops, I had better get to the point and substance of my post lest I have to lump myself together with the accused.

    Why does anyone subscribe to these rooms/services? (just follow the bouncing ball...that was a rhetorical question)

    What are the explicit functions/tasks/intentions/pursuit that these rooms and services aspire to and what are the implicit desires/needs/wants of those that visit these rooms and pontificate their displeasure so vehemently

    stock alerts

    interact with professional traders

    learn by watching

    alerts...stocks on the move

    share their style of trading with you and teach you the best truths about trading


    guide to daytrading


    information from other top traders

    raw information

    solid techniques

    profitable trading opportunities

    general market commentary

    technical analysis

    train you not only to recognize but to also react

    educate traders on the application of TA

    potential trade opportunities


    stock recommendations based upon...strategy

    generate trading strategy

    designed to train

    stocks providing excellent risk to reward opportunities

    show you how to see

    provide you with education that you need

    we don't predict...instead we react

    IMHO opinion there are quite a few admirable and dare I say productive goals on these sites --that is not to say that they accomplish what they set out to do, nor do I believe that no one has ulterior motives...and actively practice deception to achieve their personal agenda -- that is a given.

    What enterprise/endeavor/vocation/charity exists that has safeguards (that work) against abuse -- there is none, not one.

    What I believe is counter-productive and a colossal waste of energy and time is the turning over of every rock in the attempt to expose these miscreants -- I am fairly comfortable with the concept that the truth will raise (in and of itself) its head and impose justice if not vengeance on these perpetrators.

    The implicit needs/wants/desires/expectations of many (though not all by any means) subscribers:

    they want to make money

    be a successful trader

    find the holy grail

    find a shortcut to prosperity and profit

    earn more and work less

    circumvent the countless hours of reading/studying everything and anything to do with the mechanics, mentality, science and artistry of the markets and trading -- sometimes I consider this an insult and affront to all those that have sweated blood to achieve some modicum of success in trading

    desire someone to push their buy and sell buttons and manage the time between

    When I weigh the explicit and implicit characteristics of these two protagonists -- those purveyors of these services and their detractors...I find it easier to allow these services enough latitude to prove their worth than to accept as gospel or even educated conjecture the rants of the disgruntled.

    To those loud voices of dissent I would say WHAT DID YOU EXPECT?

    There are no shortcuts to becoming a successful trader and the facts are that most of you will not achieve more than perfunctory and/or elementary skill as a trader.

    How many of you could walk into a music class and in a brief period of time walk out a practicing concert musician?

    How many of you could pick up a book on chess and upon finishing reading the book (and one or two others) be a Grandmaster?

    How many of you could attend a week, a month or even a few months of rock climbing school and then proceed to lead a climb on El Capitan?

    Granted some can and will reach (and their are always the true exceptions) a competent level of musicianship, chess, climbing and trading but there are few that have the innate talent (or the desire and fortitude to overcome their innate lack of talent) to rise above the masses - this is true for any vocation endeavor or enterprise.

    I believe that most of these services are on the cusp of being valid and contribute a piece or pieces in the puzzle of education and inspiration that is the path to successful (in some measure) trading.

    What they won't do is pave the road with gold that so many aspiring traders lust after -- how would you explain these traders that go from room to room, service to service and keep coming back...when free trials are available and most services charge by the month (and actually make it quite easy to leave)...but they keep spending their money.

    These rooms will not turn you into a money-making trade churning robot that can do no wrong.

    I do not claim nor am I a vociferous proponent of these services but I am a proponent of absorbing as much information/misinformation/education/claims/styles/theories (good and bad) of trading as possible -- without such a desire and commitment how can one reasonably expect to move along (with any speed at all) any path of enlightenment to success as a trader...this success could very well be defined as the awareness that one is not suited to be a trader.

    Without this impetus one is apt to sit in one place, stagnant in the learning curve of becoming a a place of ignorance and repetitive mistakes and frustration.

    I had better put this piece (some might say drivel) to bed -- I had no intention to pontificate at such length. Something struck a nerve and my fingers found a life of their own.

    In closing I will say that an average successful trader could subscribe to most if not all of these services -- monitor for a week and from some input (trade/alert/lesson/discussion/news etc. initiate a couple of trades that would pay for the months service and put some spending money in their pocket.

    If you should consider this an impossibility(and consider yourself a trader of sorts) then it is my belief that some basic questions/fundamental/tenets of trading have been ignored or circumvented either covertly or overtly.


  2. nitro


    Is El Capitan K2 or Everest?

  3. tv92670


    I believe El Capitan is a sheer mountain in Yosemite National Park.
  4. You forgot one other reasonable requirement of the subscriber. He wants reasonable assurance that the methods and techniques being taught and used in the trading room are capable of generating profits with reasonable consistancy when applied by a trader who is skilled and experienced in their use. Otherwise he risks losing his money as well as his fees trying to apply unworkable techniques being taught by someone who can't do it himself. If he can't do it, what hope does the customer have?

    This can only convincingly be demonstrated by the room trading real money, real-time and publishing the results. But this is what they all refuse to do.
  5. Funster


    Isn't that the one Captain Kirk was climbing in Star Trek III when Spock interrupted him on a hoverboard?

    "The Starship Enterprise, just like your toilet paper, rids the universe of Klingons!" (very sorry, moderator, won't do it again) :eek:
  6. Does the SEC allow Moderators to make live calls and trade in the same securities?