I went to PalTalk Business and finance today and saw a lot of trading rooms. I have subscribed to the informedtrader.net website and their sp-scalping method did well today, but I noticed a lot of other rooms. there is a free room called trader alliance that seems to do very well..... anybody use it? any thoughts on learning from rooms like informed or traderalliance? Also am using a strategy by kenneth lee called trouncing the dow. Great book. any thoughts on if this method will continue to work well over the long run? I have been averaging in to HD and UTX. Avg price of HD is 21.47....... Any advice will help...... want to get back my losses.
if that's your average price for HD, then you don't have any losses... anyway, you obviously have no idea what you're doing, so my advice would be to exit all your positions until you do get an idea. take a few days and read throught the vast amounts of info (and, unfortunately, BS) available in the archives here would be a good start.
it takes as long as it takes to log onto www.elitetrader.com chat room. best wishes on your journey, surfer
kristy, I would be careful about the chat rooms. I don't think youcan consistently trade intraday by piggybacking someone else, particularly when you have no idea how good they are.
Well the thing with ES is... the liqudity/fills are so good that piggybacking is no problem. The problem is there's noone good to piggyback. 99% of those rooms are frauds who live off subscription fees. BTW, here's an assignment for you kristy. Keep taking those signals from informedtrader.net for a month and let us know how it goes. We'll see if I'm right.