Hi, here is a quick recap of my chat room expierence thus far.
Day Trade Team - They charged my card $995 after my trial despite my cancellation request (3 days in advance). I was so mad and disgusted that I did not continue with the service past the 5 day trial. This is a scam tactic. If the service was decent they would not have to resort to these tricks. It took me weeks to get my money back. I basically had to threaten to sue them before they would refund me. I will say I like their chat room software. It crashes a lot (macromedia breeze meeting) but it's laid out very nicely. Nick seems to trade QQQQ and DIA a lot. Well why not just trade the NQ or YM futures contract? The margin requirements are less and the extra capital could be used for swings or more futures positions.
UnderGroundTrader.Com - Jay Yu is a great teacher and speaker. To make any money with this system you have to have at least a $40,000 account and lightning fast execution skills. Getting fills that he records on the nightly recap are near impossible. They focus only on stocks here. I lost a lot of money here but if may have not been the methods but my execution. They focus on news plays and a few basket stocks.
PureTick.Com - Author/trader Alex Wasilewski's site. This site focuses on trading the dow e-mini YM/ES futures. I joined because one of my accounts dropped under 25k and I could still day trade futures with 23k. Exact prices on entry, targets and stops are given (thank god). Alex also posts entry times on his track record (which is rare). I've only been a member of this site for 2 months (currently am) and have actually turned a profit. There is good audio commentary and intelligent room members. Right now nothing negative to report except a slight audio issue with the chat room software. I will keep you posted as my experience here progresses.
TradeTheMarket.Com - This is John Carter/Hubert Senters site. I'm sure everyone has heard of them. I was a member for about 7 months. I did not like the fact that Hubert would never really let you know what to do. ie: "Counter trend traders go long, trend traders go short". They have a lot of members but I think its because john and hubert are excellent salesmen.. I get videos from them every other day about a new cd, book, seminar or indicator they'd like me to purchase for $900. I gave them a lot of business and also purchased their indicator package (which I later found out were just renamed pre-existing tools). Everywhere I turn on their site I now feel like they are just reaching for my wallet. I do not mind paying for a good service but there are limits. I learned a lot about market flow indicators here. I was never really able to make money based on their intra-day calls. The have too many setups and don't let you know whats going on. They offer chart sharing and pit noise to distract you to this.
WoodiesCCI - I can not report on this site! Why? I've tried to login with their TalksLive client 4 times now. It seems to be the most buggy chat software on the planet. I've received a wide variety of errors and never actually got in the room. Maybe their site is just too overloaded. This may be a great site!! I can not find out however.
IRC - There are various free channels on IRC, inter relay chat. I've visted these rooms. Most of them pop in and out of existance. This is a good place to exchange ideas with other traders but not to learn a new system. It's a big mix of guys posting their gains and trying to feel good about themselves.
That's about it for now. I hope this post helps some of you guys find the type of site your looking for.
RW
Day Trade Team - They charged my card $995 after my trial despite my cancellation request (3 days in advance). I was so mad and disgusted that I did not continue with the service past the 5 day trial. This is a scam tactic. If the service was decent they would not have to resort to these tricks. It took me weeks to get my money back. I basically had to threaten to sue them before they would refund me. I will say I like their chat room software. It crashes a lot (macromedia breeze meeting) but it's laid out very nicely. Nick seems to trade QQQQ and DIA a lot. Well why not just trade the NQ or YM futures contract? The margin requirements are less and the extra capital could be used for swings or more futures positions.
UnderGroundTrader.Com - Jay Yu is a great teacher and speaker. To make any money with this system you have to have at least a $40,000 account and lightning fast execution skills. Getting fills that he records on the nightly recap are near impossible. They focus only on stocks here. I lost a lot of money here but if may have not been the methods but my execution. They focus on news plays and a few basket stocks.
PureTick.Com - Author/trader Alex Wasilewski's site. This site focuses on trading the dow e-mini YM/ES futures. I joined because one of my accounts dropped under 25k and I could still day trade futures with 23k. Exact prices on entry, targets and stops are given (thank god). Alex also posts entry times on his track record (which is rare). I've only been a member of this site for 2 months (currently am) and have actually turned a profit. There is good audio commentary and intelligent room members. Right now nothing negative to report except a slight audio issue with the chat room software. I will keep you posted as my experience here progresses.
TradeTheMarket.Com - This is John Carter/Hubert Senters site. I'm sure everyone has heard of them. I was a member for about 7 months. I did not like the fact that Hubert would never really let you know what to do. ie: "Counter trend traders go long, trend traders go short". They have a lot of members but I think its because john and hubert are excellent salesmen.. I get videos from them every other day about a new cd, book, seminar or indicator they'd like me to purchase for $900. I gave them a lot of business and also purchased their indicator package (which I later found out were just renamed pre-existing tools). Everywhere I turn on their site I now feel like they are just reaching for my wallet. I do not mind paying for a good service but there are limits. I learned a lot about market flow indicators here. I was never really able to make money based on their intra-day calls. The have too many setups and don't let you know whats going on. They offer chart sharing and pit noise to distract you to this.
WoodiesCCI - I can not report on this site! Why? I've tried to login with their TalksLive client 4 times now. It seems to be the most buggy chat software on the planet. I've received a wide variety of errors and never actually got in the room. Maybe their site is just too overloaded. This may be a great site!! I can not find out however.
IRC - There are various free channels on IRC, inter relay chat. I've visted these rooms. Most of them pop in and out of existance. This is a good place to exchange ideas with other traders but not to learn a new system. It's a big mix of guys posting their gains and trying to feel good about themselves.
That's about it for now. I hope this post helps some of you guys find the type of site your looking for.
RW
