I don't need any hot tips. Most of you that haven't ever traded in a group environment probably don't understand that the purpose of this is not for specific callouts. Specific callouts rarely work for anyone other than the person initally in. However, these callouts can bring a stock to your radar that may not have ever showed up without it. You can find a stock that correlates and hasnt moved or, it could be a general indicator of a weak or strong market. That is why we are looking for traders with a general understanding that aren't looking for callouts, but more just looking to bounce ideas and feedback with other like minded traders
I don't trade it, but we may have people that do at this point we're just looking for a few good minds. The more areas we cover I think the better. For the most part I must say that I will be trading from 7EST am to around 5:30 ESTpm
It may work if you get the the personalities and egos to mix properly and allow the two way communication. I would be interested if you can filter out the newbies and make it serious traders only.
Allright guys we are gonna be at ww.hitthebid.net Gotta register, then let me know what your handle is and we can set up a private room. Go to chat and login to the lounge chat room. Either my2cts or ktgtrader will be there as well as jcd. See you tommorrow morning I'll be on at 7:00 ET lets get cracking. There is a ton of funny crap on the site also. The guy who runs it is pretty f-ing funny.
Mark is off base when he says traders can not chat and trade because chat is a distraction. Yes, a chat room can be distraction but that does not mean a chat room about trading can not be good when the mkts are slow. Chat can indeed help pass the time while watching for a setup. Trading is 90% boring as any experienced trader full well knows. Those that KNOW as someone said ..........are not afraid to SAY because a trader worth his/her salt knows there are no secrets. That is a myth. Every dittie to be known about trading is out there and is available to everyone. Real traders are NOT followers. Why is that so hard to understand by those that claim different? I think we know the answer. .. Forex would not be cool in a stock index chat room. The idea is not a room for hand holders and or rookies, that was explained in the first post. Many ET'ers have a bad habit of getting way off subject. I hope they do not do the same deal with real trades relative to a solid plan. hahahaha
Strongly Agree. You'll notice that most of the time when someone mentions they want to form a room for traders to collaborate during trading conditions... Many viewers immediately think signal calling (callouts as you put it) like a chat room where's there a head trader or guru trader announcing buy & sell signals for others to follow if they choose to do so. That in itself is a problem because many traders that use rooms that's about collaborating want to use the room to mimic the trades posted by another trader. Therefore, to prevent any confusing goals or expectations... You'll need to continue reminding those reading this that its not intended to be a signal calling chat room run by a head trader or guru. Once again via my prior message... You will have better luck in finding those that do not view realtime collaboration as a distraction which is a common issue among most that use or tried to use any type of chat room via going directly to the free public chat rooms where traders are already participating. You intentionally misinterpreted my message. Yes, I made it very clear that most find chat rooms a distraction. Another way to look at the above statement by me... Some do not find it a distraction and those are the ones he wants to find as I specifically stated. Not sure why you missed that in my first message in this thread considering I gave an excellent tip on how to find those few traders that do not consider chat rooms a distaction via monitoring those that already are participating in discussions/sharing ideas and posting realtime trades on IRC othernet and financialchat servers. These are the traders that don't need any hand holding and that won't be asking you when it's time to buy or sell. Secondly, I NEVER said a chat room is not good regardless if the markets is slow (low volatility) or fast (high volatility) especially considering I myself am a member of a private collaborating chat room since 1998. Yet, such a chat room will only succeed if there's true participation and I know from lots of experience after being involved in dozens and dozens of private chat rooms (all free) the do's and don'ts of chat rooms or collaborating rooms. Thus, for true collaboration to work and benefit all those involved... All must participate instead of having only a few that discusses the markets or share ideas while the rest just lurk (remain silent). In addition, as I've mentioned many times here at ET over the years that there are a few out there that succeed in good collaboration without being a distraction... Yet, most are invitational only (they know what they are looking) although free which is a good way to change the status (public --> private --> invitation only) of a collaborating room once a particular level of members is reached. Once again, most traders can not do this and a good way to find those that can do this is to hang out in the free chat rooms on IRC (othernet or financial chat server). Mark