Skype Room for Full Time Traders

[TRADEZILLA 10]

Hi All,

I'm looking to start a skype room for full time traders only. This room will be audio so nobody has to type. The goal is to have colleagues discuss the market in real time and have fun trading with others.

 

About me, I'm a full time trader that has become consistently profitable almost everyday of the week. My primary vehicle is ES but I also trade TF and CL on occassions.. I don't use indicators at all, not even moving average. My trading method in a nut shell is a combination method of Market Profile and Mark Fisher ACD along with other levels I lean on, and I read price around my levels to decide if I want to lean on it or not.. I don't use indicators and trade levels.. I see the market as moving from level to level and I trade that way... I also call out my trades in real time as I place them so you will quickly know my track record both wins and losses and that I'm not BSing you when I tell you I'm consistently profitable..

 

This room will be limited to 5-10 persons max.. The only thing I ask is that you are a full time trader committed to trading for a living and that you're also a consistently profitable trader as I am along with another friend I trade with. I don't care what your methodology is as long as you're consistently profitable and that you're also willing to call out your trades in real time so we know you are where you say you are, a consistently profitable traders as we are. This room is not meant to train newbies but proficient traders only that wants company with other proficient traders while trading to keep each other sharp and grow as traders.. I have nothing against sharing with others as I am always willing to do so generously, but I was in a skype room where it got exhausting sharing with newbies that it really distracts from my trading, yet I enjoyed the company sharing successes and reading the market.. If you're interested in trading with other proficient traders and like this idea where the communication is audio in real time, please PM me..

 

Thx,

TZ

Edited October 29, 2011 by TRADEZILLA

[wrbtrader 10]

Hi All,

I'm looking to start a skype room for full time traders only. This room will be audio so nobody has to type. The goal is to have colleagues discuss the market in real time and have fun trading with others.

 

About me, I'm a full time trader that has become consistently profitable almost everyday of the week. My primary vehicle is ES but I also trade TF and CL on occassions.. I don't use indicators at all, not even moving average. My trading method in a nut shell is a combination method of Market Profile and Mark Fisher ACD along with other levels I lean on, and I read price around my levels to decide if I want to lean on it or not.. I don't use indicators and trade levels.. I see the market as moving from level to level and I trade that way... I also call out my trades in real time as I place them so you will quickly know my track record both wins and losses and that I'm not BSing you when I tell you I'm consistently profitable..

 

This room will be limited to 5-10 persons max.. The only thing I ask is that you are a full time trader committed to trading for a living and that you're also a consistently profitable trader as I am along with another friend I trade with. I don't care what your methodology is as long as you're consistently profitable and that you're also willing to call out your trades in real time so we know you are where you say you are, a consistently profitable traders as we are. This room is not meant to train newbies but proficient traders only that wants company with other proficient traders while trading to keep each other sharp and grow as traders.. I have nothing against sharing with others as I am always willing to do so generously, but I was in a skype room where it got exhausting sharing with newbies that it really distracts from my trading, yet I enjoyed the company sharing successes and reading the market.. If you're interested in trading with other proficient traders and like this idea where the communication is audio in real time, please PM me..

 

Thx,

TZ

 

Hi,

 

How do you and others manage the skype room if many are talking at the "same time" especially when members may be calling out trades in real-time at the "same time" but in opposite direction of each other (e.g. trader A say he's Long and trader B says he's Short). ???

 

Will there be a "verification" of profitability to get into the skype room or will all take each other's word that they are profitable ?

 

Will there be a "verification" of trades at the end of the trading day ?

[TRADEZILLA 10]

WRB Trader,

This room will be made small specifically for that purpose... I take on average 3-5 trades/day and most trade similar frequencies so there should be plenty of downtime to discuss the market and our rationale..

 

I don't expect others to show me their PNL and verify their executions in their accounts since we all trade different size accounts and that may be a bit private.. However, I don't mind showing my PNL and verify my daily trades but I don't want to be the only one doing it.. For me, I don't need to see your PNL to know if you're a skilled trader. I believe if we can just hear each other's entries and exits in real time, we can easily know in a very short period of time if we are amongst other skilled traders..

 

The goal of this room is not to call out trades for other traders..Its to keep each other sharp and continue to grow in our skills. In the current skype room I'm in, I'm amongst the only one giving my trades in real time and even giving detailed explanations of why I took the trade as well as how I formed my directional bias, but this is tiresome when its one sided and has to be typed...

 

BTW-I'm not a scalper though I have nothing against it and was a consistent scalper at one point in the past . Currently, I average about 3-7 points when my trades work out..

 

Thx,

TZ

[TRADEZILLA 10]

BTW-my 3-7pt is the range of my ave trade, not the total gains of the trade...

[TheNegotiator 13]

If you are going to do something like this, let me suggest that you only use skype at the start/end of trading. I think something like googlewave would be better to use throughout the day as it is orientated to sharing information and communally editing it.

[UrmaBlume 10]

FUZE will allow you to use either a free phone line, VOIP or Skype for verbal communication among members and it will also allow members to share screens and only one member needs to have a subscription - free for up to 100 members and the prime user can control access.

[wrbtrader 10]

Thanks for the recommendation...I never heard of this FUZE before until now. Did some research and I like this application a lot especially considering I'm currently looking to purchase an iPad for use as a collaboration tool with family/friends (there spread around the world and using different communication devices) and business associates. FUZE seems to be able to communicate with others using different devices/application...that's a big plus to me.

 

Fuze Meeting - Web Conferencing Software

 

[ame=http://www.youtube.com/watch?v=3-1ZkEBPAcE]Fuze Meeting iPad Demo - YouTube[/ame]

 

[ame=http://www.youtube.com/watch?v=ZXwbkrkUvXc]Fuze Meeting with Multi-Party HD Video Conferencing - YouTube[/ame]

 

[ame=http://www.youtube.com/watch?v=BnsMTg5FZvI]Fuze Meeting Tutorial - Recording a Meeting - YouTube[/ame]

[TRADEZILLA 10]

Thanks for the suggestion, but skype worked just fine today.. We were able to discuss so much more in real time, with analysis that cannot even be attempted real time if we had to type as we're timing our entries.. Thus far, the traders in the group all had nice contributions..

 

Today was a tough day to trade though with a tight range where the set ups were not attractive to me due to the R/R ratio and the range I saw.. There were many set ups to both the long and short side that were mentioned though passed over...

 

From the very opening, my comments were that we were likely in a 2 sided market that can break either way but the greater probability was to the downside and that bias was maintained the whole day. "If we broke to the upside, its not likely to go far, therefore the better trade was to short the top of the range rather than to buy the bottom because the bigger move is likely to the downside.." Though I shorted 66.25 after the 67.50 area failed after lunch, I closed out of my position much too soon and didn't put much size behind it because there was HV support inside the range close within a few points from the entry point.,. big mistake....The take away is that you always have to give your bigger bias a chance to work out.. sometimes in an attempt to read price, we will read outselves out of an existing trade by being penny wise but dollar foolish....

[TRADEZILLA 10]

Just an update, we decided not to continue with the audio skype room with other traders since we all trade different methodologies and there will inevitably be many methodology questions that can become very distracting. This experience turned out to be very exhausting for me.. I basically spent the entire day in dialogue answering a bombardment of questions about my methodology and how I formed my market bias, which I understand.. However, although my methodology is very simple, how I integrate the data is not easily explained in simple one sentence answers.. This experience confirms what I have heard before that audio rooms can become more of a distraction and generally only add value when you trade with other traders that share a similar approach, otherwise it only has a social value and may be a hinderance to better trading..

Edited November 2, 2011 by TRADEZILLA

[wrbtrader 10]

Just an update, we decided not to continue with the audio skype room with other traders since we all trade different methodologies and there will inevitably be many methodology questions that can become very distracting. This experience turned out to be very exhausting for me.. I basically spent the entire day in dialogue answering a bombardment of questions about my methodology and how I formed my market bias, which I understand.. However, although my methodology is very simple, how I integrate the data is not easily explained in simple one sentence answers.. This experience confirms what I have heard before that audio rooms can become more of a distraction and generally only add value when you trade with other traders that share a similar approach, otherwise it only has a social value and may be a hinderance to better trading..

 

Hi,

 

Now I'm a little confused. I thought the skype room you're trying to setup was for "like minded" traders. Thus, you only wanted those that had similar like trade methodologies. In other words, you were screening (filtering) so that only those that are "like minded" can join and not those that had different trade methodologies.

 

My point, why not continue with the Skype audio but with like minded traders especially considering you realize such is the direction you should have taken in the beginning? Thus, don't allow those to join that have different traded methodologies. Simply, you should explain your simple methodology here in your thread and then make it clear you're only interested in new members that are like minded to help prevent the problem you're currently seeing.

 

In fact, I've seen many chat rooms fail because they allowed "anyone" to join and allowed traders to join that weren't "like minded" or didn't have commonalities in their trade methods. Therefore, there are easy ways to prevent your Skype room from being a distraction and it begins with whom you choose to collaborate with.

Edited November 2, 2011 by wrbtrader

[TRADEZILLA 10]

WRB,

That's the intent but our conclusion is that this is easier said than done thru this channel.. Its only working now because the other trader and I understand each other.. The screening process may become exhausting and potentially costly.. and I include the time trading together as part of the screening process... For example, one of the participants trades VP, as do and yet we trade very differntly, which is fine...and I don't doubt he is a proficient trader, YET, he asked me an endless amount of questions the entire trading day from the very opening to the last 20 minutes of the trading day on my market read..

 

Reading the market cannot be explained in a "bottom line" answer because its dynamic.. Reading price is not just reading the price chart, its the integration of all data you deem relevant, meaning its how you put it together in real time that helps you form your probabilities of each set up the market presents, and this is not easily explained not that I didn't try so the conversation just went on and on.. he said he didn't ask me to give him detailed answers and yet, the follow up questions never stopped and this became very exhausting...

 

I'll do my best to tell you how I trade. I basically

 

- form a bias

- look for levels to lean on

- read price

 

I believe those are the only HIGH RELEVANCE factors that will put the odds on my side and allow me to manage risk. After all, trading is nothing more than GAMBLING but we all do our best to put the odds in our favor.. I like VP/ACD but I'm not a purist.. along with other data such as the dollar index/tick/add/vold/volume and etc.. and additional data if the settings warrants...

 

The way I trade is not top secret.. I don't believe a holy grail methodolgy exists and that's why I don't believe in automated trading or a "scientific method" in trading, which the other trader believed in... I think he's a great guy, we just disagree.. I believe the closest thing to the holy grail you'll ever get is how you put the data together and that is not easily explained in a KISS way.. We all want KISS and my method is the closest thing I've been able to accomplish it.. However, if a holy grail does exist, it can only come with reading price in context with reading the market with your methodology ONLY AS A ROAD MAP, and its not going to be perfect, just probabilities.... Its like playing any sport where your decisions are dynamic in real time, the manual does not exist except at the very basic level... In summary, that was my conversation today and it was long and exhausting.. Agree to disagree........

[jackb 10]

"trading is nothing more than GAMBLING"

 

That's only true to the extent a trader is clueless about whether or not he has an edge.

Edited November 2, 2011 by jackb
sp

[wrbtrader 10]

WRB,

...For example, one of the participants trades VP, as do and yet we trade very differntly, which is fine...and I don't doubt he is a proficient trader, YET, he asked me an endless amount of questions the entire trading day from the very opening to the last 20 minutes of the trading day on my market read...

 

Reading the market cannot be explained in a "bottom line" answer because its dynamic...

 

Hi,

 

One key element of running a successful free chat room is to be a good moderator. In fact, the chat room will fail if you're a poor mderator but a great trader. Thus, when someone becomes a distraction or ask a ton of questions especially while you're in the middle of trades, interrupts others or seems argumentive, ask too many questions instead of waiting to ask them at a designated time period for Q & A...

 

You got to give the person a warning to stop. If it continues...you remove the person from the room (skype chat). Thus, being a nice guy is one thing but when your Skype chat begins to become a distraction to your own trading (such can be very costly as in losses or missed trade opportunities)...you need to remove the distraction (moderate), close your Skype room or don't trade. That's the only 3 options available and it's obvious getting rid of the distraction is the best solution. Thus, you need to be a moderator just like one would be at a discussion forum like Traderslaboratory.

 

As for your "simple method" that you seem to keep saying it cannot be explained in simple answers, you need to get a free blog...post as much details about your simple method with chart examples. Next, make sure all your Skype participants knows the link to your free blog. Those that forget and ask questions while you're in the middle of a trade...don't respond until you've completed your trade and then give them the link to your free blog.

 

My point is that if you want a good quality Skype chat...you also need to be prepare to be a good moderator and good manager of your Skype chat besides being a trader. The other participants will be greatly appreciative except for those that are a distraction to you and to others. For example, you mention that one of the participants trades differently and that's fine. Yet, oddly you complain about that same member asking endless questions the entire trading day. Obviously having a member that trades differently is not fine...a member that's not like minded.

 

Once again, I highly advise you properly screen those prior to allowing them to join your Skype chat to ensure they understand your simple method, rules of the chat and that they are using similar trading method prior to allowing them to enter the chat.

 

Last of all, your brief explanation of your simple method is in my opinion a very poor explanation. Its too abstract and there are no chart examples that show trade examples to correlate with your abstract explanation. Thus, if you can't explain your simple method properly when at a discussion forum...you will not be able to do it in real-time during the trading day.

Edited November 2, 2011 by wrbtrader

[TRADEZILLA 10]

"trading is nothing more than GAMBLING"

 

That's only true to the extent a trader is clueless about whether or not he has an edge.

 

I disagree.. even with an edge, trading is ultimately still gambling.. The dif is, you can put the odds in your favor, that's all.. The edge is ocfourse never absolute.. what gives an edge in one setting will not give an edge in another setting.. identifying the setting is also part of the edge, but there are many dif ways to do it.. A good method needs to be versatile enough to survive dif market conditions.. Took a few trades in the morning and not trading till after the FOMC now...

[Tams 20]

some gamble, some don't.

 

some have an edge, some thought to have an edge.

 

some predict, some anticipate.

 

some analyze, some postulate.

 

some trade, some push buttons.

 

such is the wonderful world of trading.

[TRADEZILLA 10]

Hi,

 

One key element of running a successful free chat room is to be a good moderator. In fact, the chat room will fail if you're a poor mderator but a great trader. Thus, when someone becomes a distraction or ask a ton of questions especially while you're in the middle of trades, interrupts others or seems argumentive, ask too many questions instead of waiting to ask them at a designated time period for Q & A...

 

You got to give the person a warning to stop. If it continues...you remove the person from the room (skype chat). Thus, being a nice guy is one thing but when your Skype chat begins to become a distraction to your own trading (such can be very costly as in losses or missed trade opportunities)...you need to remove the distraction (moderate), close your Skype room or don't trade. That's the only 3 options available and it's obvious getting rid of the distraction is the best solution. Thus, you need to be a moderator just like one would be at a discussion forum like Traderslaboratory.

 

As for your "simple method" that you seem to keep saying it cannot be explained in simple answers, you need to get a free blog...post as much details about your simple method with chart examples. Next, make sure all your Skype participants knows the link to your free blog. Those that forget and ask questions while you're in the middle of a trade...don't respond until you've completed your trade and then give them the link to your free blog.

 

My point is that if you want a good quality Skype chat...you also need to be prepare to be a good moderator and good manager of your Skype chat besides being a trader. The other participants will be greatly appreciative except for those that are a distraction to you and to others. For example, you mention that one of the participants trades differently and that's fine. Yet, oddly you complain about that same member asking endless questions the entire trading day. Obviously having a member that trades differently is not fine...a member that's not like minded.

 

Once again, I highly advise you properly screen those prior to allowing them to join your Skype chat to ensure they understand your simple method, rules of the chat and that they are using similar trading method prior to allowing them to enter the chat.

 

Last of all, your brief explanation of your simple method is in my opinion a very poor explanation. Its too abstract and there are no chart examples that show trade examples to correlate with your abstract explanation. Thus, if you can't explain your simple method properly when at a discussion forum...you will not be able to do it in real-time during the trading day.

 

WRB,

I hear you, but this is not meant to be a major production.. I think my method is simple, but others may disagree.. It doesn't come from a chart alone, it comes from the relationship of the data and price action, and then there is also a time element and this can come in many dif combinations.. There is no exact formula.. Its a "weighing" of the "micro" set up in combination with the macro theme.. I form my own R/R probability by looking at a combination of data,.. Its not going to be perfect though.. For example: today, I got mixed data so I couldn't hold my trades.. believe it or not, I shorted the opening, bot near the bottom at 28, and shorted 38 from the same data and yet couldn't hold from the same data.. All I look to do is to do is put myself in a position to get lucky...

[wrbtrader 10]

WRB,

I hear you, but this is not meant to be a major production.. I think my method is simple, but others may disagree.. It doesn't come from a chart alone, it comes from the relationship of the data and price action, and then there is also a time element and this can come in many dif combinations.. There is no exact formula.. Its a "weighing" of the "micro" set up in combination with the macro theme.. I form my own R/R probability by looking at a combination of data,.. Its not going to be perfect though.. For example: today, I got mixed data so I couldn't hold my trades.. believe it or not, I shorted the opening, bot near the bottom at 28, and shorted 38 from the same data and yet couldn't hold from the same data.. All I look to do is to do is put myself in a position to get lucky...

 

Lets put it this way, if you can't post images of exactly what you're looking at on your computer monitors regardless if its data/price screen, chart screen or any thing else you're using to make trade decisions...

 

You will have a tough time explaining to someone or getting someone to understand your simple method. Thus, simplicity is a matter of perspective. What's simple to you may be complicated to someone else without visual references. Kind'uv like a college professor saying "its easy" while most in the class room are looking around at each other and saying "whatever".

 

Other than that, chat rooms requires multi-tasking (trading and chatting)...it is a major issue for those involved. Thus, if its not meant to be a major production for you, I highly recommend you don't get involved with it as it seems to be what you're now realizing.

[TRADEZILLA 10]

WRB,

Although I don't mind sharing at all, it was never meant to be a class.... I think trading with others does give energy and focus to the market which is good.. but I don't want to type and I don't want to read when I trade.. The value is not in the opinion of other traders though I do believe trading with other good traders will sharpen your own skills by default... I believe good traders will not let others sway them from what they see... I trade with another trader that is very good.. we always trade what we see, not what the other person see unless we see what the other sees and agree..

[SIUYA 11]

WRB,

All I look to do is to do is put myself in a position to get lucky...

 

Tradezilla, if this in essence sums up your trading style, and the method reaching it is not so systematic then I think its fine (that is largely what I have tried to do as well)....explaining that to others is incredibly difficult.

 

I could not agree more with all the points WRB has made and have been through the same things myself working alone and with others......but I have never tried to use a Skype room as I think another major issue with it is that it becomes noise.

A lot of context in speaking with people is visual, and different parts of the brain works on talking as opposed to visual components.....and when other participants dont see what you are seeing, or cannot see when you are busy it makes it difficult. I know I hate getting phone calls while I am watching something, but if that person is watching the exact same thing (or has the exact same style) then its a different kettle of fish.

 

Plus have you ever worked in a room with people when someone is bearish others are bullish.....it does affect people, moods, and how you interact and feed off each other. Agreeing to disagree all the time will become exhausting....look at the EU

not worth it

[jackb 10]

I disagree.. even with an edge, trading is ultimately still gambling.. The dif is, you can put the odds in your favor, that's all.. The edge is ocfourse never absolute.. what gives an edge in one setting will not give an edge in another setting.. identifying the setting is also part of the edge, but there are many dif ways to do it.. A good method needs to be versatile enough to survive dif market conditions.. Took a few trades in the morning and not trading till after the FOMC now...

 

I disagree with your disagreement. You're playing a semantic game. Everything you do in life is a gamble. It doesn't get any better than putting the odds in your favor. What more do you need or want?

[MightyMouse 12]

I disagree with your disagreement. You're playing a semantic game. Everything you do in life is a gamble. It doesn't get any better than putting the odds in your favor. What more do you need or want?

 

The only way one will get the odds in his favor is if he controls the game.I think we all know that the game is not controlled.

 

So, trying to get the odds in your favor is going to lead to certain disappointment.

[kuokam 10]

How do you assess the "goodness" ?

 

WRB,

Although I don't mind sharing at all, it was never meant to be a class.... I think trading with others does give energy and focus to the market which is good.. but I don't want to type and I don't want to read when I trade.. The value is not in the opinion of other traders though I do believe trading with other good traders will sharpen your own skills by default... I believe good traders will not let others sway them from what they see... I trade with another trader that is very good.. we always trade what we see, not what the other person see unless we see what the other sees and agree..

[wrbtrader 10]

WRB,

Although I don't mind sharing at all, it was never meant to be a class.... I think trading with others does give energy and focus to the market which is good.. but I don't want to type and I don't want to read when I trade...

 

Hi,

 

I was not implying you should or were teaching a class. I was implying that when someone saids the method is simple...they are exclusively talking about the method from their perspective only and not from the perspective of those hearing you say the method is simple. This may explain why that trader you mention was asking "endless questions" about your simple method or trade decisions. Further, you're already reading while trading because you're visually reading the info you see on your charts and data screens...assuming you're not blind. Therefore, maybe you meant to say that you don't want to take your eyes off your charts and data stream to open up a different window (chat screen) to read commentary by others because its another "reading input" you don't want to add to the existing reading inputs you're already doing with your charts and data.

 

With that said, SIUYA has it correct in that different parts of the brain react different when there are visual aids versus listening versus talking versus writing. This is a scientific fact and explains how we learn, interpret, analysis or whatever you want to call it.

 

In fact, if you're a trader that visually looks at a chart, visually looks at data streaming across your monitors to make trade decisions...you are a trader that also needs the same visual information to learn. Therefore, its common sense that when someone ask you for more information about your trade method...you show them images (charts and data) that you used to make those trade decisions to go along with any written statements or audio statements...assuming you're not a blind trader that makes trade decisions exclusively via audio inputs.

 

Another way to look at it, to explain your simple method without images is to imply you make trade decisions without "visually looking" at charts or data on your monitors. Therefore, if you decide again to explain your simple method or discuss key aspects of your trading day at a forum, chat room, email or whatever...throw in some images with your explanations to keep your simple method really simple.

 

It's amazing how the brain interprets info while trading. :missy:

Edited November 3, 2011 by wrbtrader

[ant 10]

I disagree with your disagreement. You're playing a semantic game. Everything you do in life is a gamble. It doesn't get any better than putting the odds in your favor. What more do you need or want?

 

You nailed it! Playing the odds is what profitable trading is all about. Most traders can't get past the current trade and try to do whatever it takes not to lose, which may develop bad habits for future trades. Having an edge and putting the odds in your favor is how professional traders survive the long-run (i.e., thousands of trades) and that's all that matters - not today and not the current trade. Profitable traders play the odds because they can't predict or control the markets.

[Ants88 10]

I ran a trader based Skype room last year and after about two months, the like minded traders started their own Skype rooms or opened paid web sites.

 

Thinking about setting up a free trader web site using GoToMeeting. The basis of the daily meeting would be to 'use your method to trade the best opportunity'. We would cycle through the members screens and discuss where the best opportunity might be, each using your own trading method.

 

With this idea as a base, a member would be responsible for her/his trading methods and not have to defend or answer any questions about their trading plan or indicators.

 

Simply stated, we trust the surgeon while she/he is operating - we never question or debate with them. I trust you know your system, hence, I trust you and your analysis. It is always my choice to trade when/where I want.

 

We are all experienced enough to know each others indicators or strategy 'After' you put on a trade. No education is necessary. I know all about you and your methods, when/where you put on the trade and when/where you exit.

 

Let's use our self contained knowledge - For Us - and stop debating and testing each other!