Chat Rooms

Discussion in 'Trading' started by DollarRich, Mar 5, 2010.

  1. l2tradr


    LOL, it was just a question, not an attack. Relax.

    I am impressed with your ability to determine one's profitability by their username on an anonymous message board. Next board I go to, my username will be billionaire_trader, so I can have some credibility. :)
    #31     Mar 5, 2010
  2. I can only answer what I think on this. I look forward to hear what Chaos has to say.

    Not sure you do screen them in that respect. If someone is prepared to pay a fee to come in to the room, then that cuts out the lurkers, spammers and idiots straight away. The Chat room would be for people who wanted to share, learn, listen, speak if they want to, and have a community of like minded people to break up the trading day. They would agree to follow whatever rules are placed in the room to make it a pleasant place to be.

    I think that someone who is not very social would not want to be involved so would not pay and register. Anyone who was abusive or whatever after registering would just be kicked out. Its about a community feel, and wanting to be there and contribute - Not just "good traders" either, I would like to think that anyone could be involved if they are of similar mind.

    Up to individuals to take calls if they are made in the room, however, my trades are taken with my own process - If I take someone elses trade then I also would take the responsibility myself but it would still be with my own process in mind.

    From my point of view in such a room, I would be telling people to watch areas, and what I was looking for, but I certainly wouldn´t be telling anyone to pull the trigger BUY SELL BUY SELL. I have a community room in mind, not a Trade Calls Room. Anyone that just listens to anyone elses calls without using their own Trading skills is asking for trouble, and to let a 5k loss happen is another matter yet again, unless their account is extremely large.
    #32     Mar 5, 2010
  3. Nice idea L2.

    I´m going to call myself..........

    "I posted 10k posts to another Forum before I came here, sorry for not being in EliteTrade member as long as others, but I have been trading for 15 years, honest guv.."

    It´s a long name, but perhaps that will work....

    :D :D

    Ps. I know a load of people who make a fortune from Trading with L2. Nice one dude... Speak again...

    #33     Mar 5, 2010
  4. Retaildaytrader,

    I like your constructive candor. So I will respond.

    1. The good traders rise to top in all situations. A good trader in my opinion might not be in someone else's. For example some may think the trader with the highest net in one year regardless of risk is the better trader, but in my eyes its the one with the smallest drawdown and has consistently been in the game year after year. As each trader develops they will learn what style they are comfortable by being exposed to many.

    2. Good question. Yes I would kick them out. The best traders I have met may cuss which is fine in the room, but still have a mutual respect for their fellow trader. Money does not alleviate your duty to respect others. As for brilliant calls, the question then becomes if you there to copy calls, or learn how to trade?

    3. I may or may not kick the person out of the room if it seems they are trying. I may ask them to refrain from making public calls if they are just baseless. If they continue 3 times, banned end of story. They may become a contrarian indication for another person. As a trader there comes a time, where one must pick their own trades, and accept the risk based on their own judgement. Regardless who makes them. One of the key differences in my room is people are not allowed to make calls without giving some form of basis for their analysis. The room is not for after the fact shot callers.

    Thank you for your questions.

    #34     Mar 5, 2010
  5. The vote is to weed out "detractors" to the groups cohesiveness. True, if they are not detracting from the environment they will most likely be allowed to stay, though I do encourage "Value added" participation to add "color" to the markets we trade and cover.

    Thanks again for your question.

    #35     Mar 5, 2010
  6. I think you raise some interesting points, but would people really register and pay if they didnt want to be in there, or if they were anti-social ?

    They can just stay on their own, and continue doing their own thing. No problem - Who is forcing them to join and subscribe.

    #36     Mar 5, 2010
  7. What markets will the room cover ?

    #37     Mar 5, 2010
  8. What ever people are trading in the room. The floor "color" is dynamic.

    Right now we cover ES, NQ, CL, NG, Bonds, Volatile Stocks, some discussion of long term option positions, and some forex pairs as they seem to come in and out of producing trade opportunity. As people are added strategically to the group additional areas will be covered.

    I would love someone to come in and cover the HSI, and Nikkei.. in the overnight to wake up tomorrow with some analysis and they would have coverage of the US markets through the room as well.

    Thanks for your question.

    #38     Mar 5, 2010
  9. What room is it about? any url?
    #39     Mar 5, 2010
  10. Great Answers, all of them. :cool:

    Especially so on the "Mutual Respect" point.

    #40     Mar 5, 2010