Are you looking at choosing a day trading or investing chat room to gain knowledge, experience, and work with experienced traders with like-minded goals? In this post we will discuss what makes or breaks a day trading chat room, and most importantly what to watch out for when choosing a trading or investing community.
As traders and investors its important to be familiar with the common scheme known as the pump and dump. By definition, a pump and dump scheme encourages traders and investors to buy shares in a company to inflate the price, and then selling their own shares when the price is high. Here's what you need to know:
As many of you know, day trading is a business of discipline, patience, and execution. To be a professional in this field, like any other field, it takes many hours of dedication, practice, pain, and sacrifice. The same way that professional athletes train their body for marathons, day traders need to train their minds for the markets.
I've worked with a lot of traders over the years, from prop trading in my early 20's to running our live trading group at LiveStream Trading 10 years later. As you can imagine, I've met just about every type of trader there is.
In fact, I've worked with hundreds of traders in person and online, and the one major thing that I've learned as a trader and educator is this:
What works for one trader, may not work for another trader. There is no "one size fits all" trading system!