If there are two traders who are trading the same method(s), it could help a lot. They help each other stick to the program. Every time i'm ready to jump on a "new kind" of (losing) trade, I have to argue with myself. The guy who I argue with looks something like this: "Hey, I know that ain't your signal, put that mouse down crazy fool"
I've recently started using irc chat as part of my trading. I find it useful to get an idea what other people are seeing. Like a previous poster said, it's good to have lots of pairs of eyes looking out for possible trades and clues on where the market is heading.
I've often entertained the idea of multiple traders from different markets. One of each for stocks, commodities, futures (index), options, bonds, and currencies. All trading in the same room. Provided they are all successful of course. I wonder how the dynamic would be in the room and if they all could play off each other. Personalities come to mind. Oh hell, seems like it might be tough to put together. Has anyone been in a similar situation?
I'm in chats for some fun chatting with others when the market is slow .... I don't follow or pay much attention to other's trade... Be a leader, not a sucker...
Those that can, do. Those that can't, chat about it throughout the day. Seriously though, I can't trade when I have any contact with anybody, either internet or in person. I don't give a s%$t about other peoples opinions of current market action. I see it myself, why discuss it?