Is there even one single vendor that makes realtime market calls?
Im not talking about " Ok heres a signal, buuuuutttttt we dont have this , this or this conformation" and then after the signal if its a winner say "hope all got some of that" or if its a loser say" I tried to tell you guys to stay out of that one because the stars werent aligned with out our 400 confirmations that we look for". Seriously, I am a full time trader but also run another business for income. I am always looking for edges so sometimes I drop in on live rooms for a month,Im not above learning new methods or just taking trades from a good trader. Problem is, no one wants to make market calls. To all vendors out there this is how its done..... Ok folks it looks like we got a great set up here, I am buying the ES on limit order right. if filled my stop is this and my target is this. If I decide to exit he trade early I will make the call. IS THAT SO HARD!!! STICK YOUR NECK OUT AND MAKE A CALL! EVERYTHING ELSE IS BS!!!!
Seriously though, If anyone is making any money on these rooms with realtime calls post it here please, thanks
The following 2 users say Thank You to Paul L for this post:
1. IMHO, most of them sell their stuff because they can't earn a living with it.
2. To call out trades like you say requires a professional license as you are charging for financial advice. Most of the folks I have met over the years with trading rooms are not licensed professionals or any kind of professional for that matter.
3. You're in business, ask your attorney about the legal liability of opening your own trading room , charging a fee for memberships and making live calls.
4. Read the disclaimers on the trading room sites. "This is for education purposes only... yadda yadda yadda"
BTW... if your trading is profitable... you are allready ahead of most of the folks who run trade rooms.
I'm just a simple man trading a simple plan.
My daddy always said, "Every day above ground is a good day!"
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There's a well known educational trading business here in Southern California; they don;t have a chat room or signal service that I know of. I think it was on one of their CDs they were describing the history of the company.
Paraphrasing: We used to be a successful prop trading firm specializing in momentum trading. Market dynamics changed and our techniques stopped working. So, we decided to completely shutdown the trading firm and convert it to an educational company.
Trading has got to be one of the few businesses on this planet where people actively seek out and flock to other failed businesses to obtain advice on how to succeed.
Last edited by Slack; February 3rd, 2011 at 12:49 AM.
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Try pristine.com . As a new trader a few years ago, I spent a few months in their program. They call out the trades live in the room, they have audible alerts before the trades are called, the trade calls are complete with entry, stop, target and trade management. Trade calls are logged, and tracked along with all trade management for every trade. When stops are moved, the tracking page is updated with the new stop placement, when stop outs occur, and targets are reached, etc. The trade calls tracking is updated in real time on a separate pop-up page that you can keep open and check during the trading day.
You need to be a licensed CTA to advise people about financial investments. To get around that stipulation, all a room moderator has to say is "I'm taking this trade", instead of "I advise you take this trade". The trade calls at pristine would say "Pristine is going to buy XYZ at 70.25, stop at 70.70, target 70.50"
When I was there, I was in their stock trading room, but they also had a futures room trading the NQ DOW Mini. It was a few years ago since I was there so I can't guarantee how they operate now, though.
Last edited by monpere; February 7th, 2011 at 07:18 PM.
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