I was going tru the journal today , it seems like there are traders interested in a live chat sessions during market hours, which is a damn good idea to generate trade ideas, i trade the us markets and a very good site is stocktwits which enables traders to interact and tell their trade ideas which is very good as it creates an environment where every body can learn from every body.
so i request members here to vote if a chat room is required.
If traderji cannot accomodate it then perhaps we could start a google hangout or something no worries as there are multiple options available , but it would be great if traderji starts one.
Good idea but difficult to implement because of the following :
1) Successful traders are very busy in trading so the chat room will not get successful traders participating during trading hours. Most people hanging around the whole day in chat room will generally be guys who dont trade, are undercapitalised and they want to do some timepass,system and methods peddlers who dont have guts to trade their own methods and make money but more interested in selling AFLs, softwares, sure fire systems etc.
2) I have seen many chatrooms finally close down due to fights, egoes,oneupmanship,and wasted interest in soliciting clients for services. I recently came across a traders trading chatroom discussing on line discount deals like you buy 4 toothpastes and get 3 free on it (it is real) ,Pathetic and disgusting to say the least....
3) A chatroom discussing just 1 method and trades could be a good idea if the participants have knowledge about that method.....else too preliminary questions which need too lengthy answers kills the initiative of good traders to share. If people start discussing many methods it will be a chaos.
4) Why would a successful trader participate ? What is the incentive ? If he wants to share his ideas free, he would do it in forum posts at his free time and not in trading time. Arguments,fights, criticism all he would take for what ??
5) A group who does not trade can start a chatroom on small entry fees and monitor the chatroom,but the success of such chatroom depends on the kind of good traders participating.
There may be some exceptions to all that is said above but they are very few...