IRC or other chat rooms

Discussion in 'Professional Trading' started by scot.mcpherson, Apr 12, 2009.

  1. I am looking for some chat rooms (irc or webbased) to participate in, so I can "talk" with people rather than post (which I also enjoy participating here).

    Any sincere recommendations?

  2. I found othernet, but I would still like to hear of other recommendations.
  3. Brandonf

    Brandonf ET Sponsor

    Ivica has a chatroom which is good but I can't recall the name of it. He may charge for it now, I'm not sure.

    Toni also has a room, #mainstreet, but I dont think she's been in it for weeks. At this point Ivica comes in several times a week and leads, but it's mostly member run until she finishes up her book and some other things. From time to time I also stop in, but I think it's been several months since I've done anything aside from just step in to say hello.(I'm just not so much into the whole room thing anymore) Her room is totally free with no intention of ever charging for it at any time in the future. (ie it will never be a paid room, so you can always go in there knowing its free and will remain so until the cows come home.)
  4. ThinkOrSwim has a chat room.
  5. Trish


    Or if you prefer to check out Wednesday's recorded chat with guest(s), there's no need for log in.>support>Option School> Chat Archive. The page will load, give it a few secs.

    The one with John Carter is decent. 4/1. Texas honesty........
  6. You said you found othernet, but they host many varied specialty rooms. Have you explored them all?

    #enthios is good (civil). It's basically a market profile variant.

    You didn't say what you trade. There are several good rooms for forex, each one dedicated to a particular trading approach. Go to forexfactory and poke around in the "trading systems" area of the forum and you'll find them. I've looked in "Force 5" and volume spread analysis. They both have good, low traffic rooms with people actually trading these methods.

    These are all free. I can't imagine paying for chat room access.
  7. Well mostly because of my lack of funds, at the moment I am trading FAS/FAZ. It has the most bang for the amount of buck that I have. If I had more capital I would spread out to other things as well, but I think using these which tend to track the market closely are a good place to start. They are consistent, they have broad swings, and its easy to correlate the charts with the Dow/S&P 500/NASDAQ and obviously the Russel 1000 Financial Index.
  8. It's simple...log onto the Othernet server than type the command line /list.

    It will show all the Othernet chat rooms that want to be known (listed).

    Next, log into 5 - 10 rooms and setup your IRC window to log the conversation.

    Later after the trading day is the logs to determine which rooms you like.

    Do this for about a week or so until you can determine which room fits your needs.

    My point is that it's extremely difficult to recommend a room to you when so little is known about your exact needs.

    Simply, best to determine that on your own due to the fact its so easy to log into the rooms yourself.

    However, you did mention one thing about trade FAS/FAZ.

    I know 3 guys in the chat room called #IndexFutures (financialchat server) that swingtrade FAS/FAZ although I suspect your day trading them.

    Note: #IndexFutures is a big room with +100 members on some trading days.

    There's also a few in the room called #Daytraders (Othernet server) and that room too is big with +100 members on most trading days even on holidays.

    However, both have lots of noise and problems with spammers although there's moderators.

    P.S. Just hang out in as many rooms as possible on the Othernet and Financial chat servers. Next, send a private message to anyone that talks about or post trades involving FAZ/FAS to see if they are willing to form a new room that's exclusive for FAS/FAZ traders if that's what your really looking for.

  9. FAS/FAZ are great, just don't hold over night. They're prone to sudden large moves which translates to high reward:risk. Very nice.
  10. Well honestly, I have a few times now wish I had held them overnight. I bought FAZ when it was really cheap two weeks ago, and it rose and hit the target before plummeting wednesday/thursday. However,

    When the market bounced off of the floor last wednesday, I hopped on board FAS within a few cents of bottom. I chickened out at the end of the day and sold it in the after hours market and lost a crap ton of profit if I had held till thursday afternoon.

    I should in both cases have listened to my instincts and held on to them. I literally would have twice as much money today if I had listened to my instincts rather than cave into my fears (and let my wife feed those fears).
    #10     Apr 12, 2009