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December 4, 2019 TSXtrad3r

Choosing a Day Trading Chat Room

How To Choose A Day Trading Chat Room

I’ve been thinking about my early experiences in day trading and what has lead me to the strategy and system that I use today after 14 years in the business. The truth is, like most people, when I started trading I didn’t have any real structure or strategy at all. It didn’t take long for me to figure out it was not going to be a sustainable career at that pace.

I only began to see consistent trading results YEARS after I started trading because I spent many years back-testing and refining a trading system that would consistently give me an edge in the market.

Most people don’t have the time or resources to do this, so naturally they take short cuts, like joining a day trading community to learn from real professional traders.

The problem is that not all trading groups are created equal, and many educators teach the wrong things or are flat out malicious in their intent which can lead to years of frustration, bad trading habits, and failure.

I’ve been asking members of LiveStream Trading what sets us apart from other services they have tried in the past, and here’s what the consensus is:

Ability to Alert Trades BEFORE the Trigger

This is a huge matter for most traders, because half of the battle is being prepared…

If you have a back-tested trading system and know that when a stock hits X price you can buy it, set a stop 10 cents below, and have an 80%+ chance of it being a winner, it makes trading more fun, less risky, and most importantly, more profitable!

Day Trading Chat Room

Live Trade Alerts Chat Room

Live Trade Alerts Chat Room

VRAY Long Alert

The single biggest complaint I hear about many chat rooms is that the members can’t get the trades that the moderators are taking. I cover that in this blog post (explaining the pump and dump).

You’ll also see many other marketing tricks out there like free trials.

I can not stress this more – No one who has a profitable trading system is going to give it away for free – PERIOD!

Almost every one of those free trials are for, you guessed it, pump and dump schemes that leave you chasing the moderators alerts to only be filling his sell orders while you get dumped on and keep you chasing the dragon.

A Team Driven Environment

The beauty of being part of a team driven trading environment, is that everyone gets an equal opportunity to profit every day.

Our traders are able to get the same prices on my trades as I do because I explain and alert the trades ahead of time.

And the best part is, we teach our trading system to our students, so they become very familiar with the repeatable low risk trade setups and patterns that we trade and they quickly learn to become self-sufficient in the stock market.

Don’t take my word for it though, check out what real traders using our system and chat room are saying on twitter. 

trading chatroom

A Back-Tested Trading System

The ability to use repeatable patterns in the market over and over again that consistently pay out, like our $PTGX short trade in this instance (see the time stamp in chat and trade walk thru for our team).

tested system in trading chat

short trade chat room

$PTGX Short Trade

$PTGX is just one of hundreds of low-risk trade setups we take per year that hit our profit targets.

In fact, our system yields an 80%+ win rate and our alerts chat channel walks every trade through step-by-step for our team to follow, profit, and most importantly, learn from!

Detailed Trade Explanations

With the ability to live stream and chat at the same time, there’s no surprises when it comes to which tickers we trade and why we trade them.

All setups and thoughts are carefully laid out in the chat room and via the live audio feed so everyone understands exactly what setup we are playing next.

Having trade ideas explained both in chat, and live via screen sharing will help you understand faster and get more confidence to take your trading to the next level. 

In addition to that, every single trade taken is recapped and recorded in our daily live webinar for members to review and learn from on their own time. We have a library of over 600 daily recap webinars and a systematic trading course available FREE for all of our chat room members!

daily recap webinar in trading chatroom

Daily Recap Webinar

Things to Consider Before Joining a Day Trading Chat Room

There are a lot of things to consider before joining a trading room:

Can I replicate the moderators trades or is he selling after he alerts me the trade? (Pump and dump).

Can the moderator of the chat room explain the trade with a clear entry point, stop loss, and profit target BEFORE it triggers?

Is the moderator using a trading system with back-tested and proven results, or is he throwing darts at a board?

Are they only announcing trades AFTER they are in the money or do they explain the trade before it takes place?

Do they provide ongoing education and support for members of their community?

Do they have a high win percentage strategy?

Are their members getting support from the chat room and learning new material every day?

Are they trying too hard to sell a product/course and advertise on social channels as opposed to focusing on trading and providing the best value for their clients?

Does their trading style gel with yours (Are you going to benefit from the trade ideas?)

Good Luck in Your Journey!

In conclusion, there may not be any one-size-fits-all chat room, but there are some very clear signs to avoid when it comes to your choice in which professional community to join. 

Remember – With a few small and easy-to-follow trade signals per day, you can make a living day trading stocks, but you need to be learning the proper method for doing so by following an expert with a proven, back-tested trading system.

Whether you join our trading team or decide to try out some of the “popular” choices out there, we wish you the best of luck in your trading, and please reach out to me anytime if you have questions, we’re here to help!

Get Started with a Free Day Trading Video Lesson Below!

Learn How To Day Trade Stocks