RTT Trading Chat Room

I know there are a lot of smart people on this forum. I know a lot of you trade and chat out of other chat rooms but has anyone ever thought of making a RTT chat room?

I'd be against RTT setting up a "trading chat room". Trading is a "by yourself thing". Always has been, and always will be. Chatting about trading decisions in the midst of making those decisions is a bad idea.

It'll just become another thing that you'll end up using as a crutch, and it will ruin your trading, not make it better. Trading with your "buddies" is gonna limit your trading and possibly ruin some friendships. You have to decide when to enter and how long to stay all by yourself. Your "trading buddies" will end up talking you out of a trade that you should have stayed in, and also talk you into a trade that you shouldn't be in. Don't do it. You wanna be a lousy trader, that's the way to do it.
You have to work to figure out what "your trade" is, and trade that one. Cause you do it better than anyone else. Everyone has their own "my trade". Those are the ones you're looking for. You shouldn't trade against "your trade". So trying to do a trade that your "chat room trading buddy" is doing is a bad idea and vise-versa.

Thanks Richie, I appreciate your input, just thought I would put it out there and see what others thought

Up to a point, I agree with RichieRick that for most people, chat or RTT might be a bad idea, especially if they don't have clearly-defined opinions or skills of their own. BUT, for traders who are not so easily influenced, those tools can be helpful because it can sharpen their trading decision. Bughatti, I gather, is an experienced /ES trader, so RTT might be a benefit. Personally, in short TFs or certain fast markets, I'd love the input but can't handle the distraction. In ordinary stock trading, I wouldn't mind at all- in fact, I used to do a lot of trading that way. One of us would be calling one timeframe on a couple indicators, somebody else another timeframe, etc. It worked. But these were trusted pros. Downside was that inexperienced people often got hurt because they were just "following the leader" and didn't understand the context of the trade, right? So somebody yells, "In!" and they jump in, not realizing that it was just a scalp, not a hold. That kind of thing.

And, since I'm just flapping my jaws here, there was one part of live chat I really loved. We'd each take a sector and scour the wires premarket for bankruptcies. If somebody found one, then at open we'd sit, drooling at the mouth, watching the BK tumble. Then we'd call "Bottom!" and we'd pile in like the larcenous scum we really were and ride it back up for 20% on the nail and get out. Predatory trading but loads of fun.

Gamblers roll the dice; Traders load the dice.

Baffled1, thanks for the kind words, but I am by no means experienced! When I started looking into trading I found this forum above others to be most helpful so I try to ask a lot of questions to learn.

I have never been in a trader chat room so i guess i did not see it as a place for inexperienced traders to poach the experienced ones. I do see were some people may not want to take away from trading hours to chat with others, I know until i feel comfortable i would not want to miss a good trade.

Thanks for the inputs all, you peeps really are a helpful lot

Since RTT does not have a "Like" button I have to do this manually. One "Like" or "Up Vote" for Richie's response. This is a by yourself thing. Trying to do it or discuss during the battle will hurt you in the long run. I have a few damaged friendships to prove this point. And by the way, we all had clearly defined trading plans, entries, and exits. We all took the same classes, read the same books, and had the same chart set ups. These were close friends, we all trusted each other, made good judgments, etc. Unfortunately it is extremely difficult to keep someone else's opinion out of your head with all the prices moving around, green and red flashing etc. I had trades where I would have made $15 to $20 on the option had I not discussed with someone. Even had trades where two of us disagreed but both would have made money if we had not discussed. We were trading different timeframes and have different trade setups. Learn to trade by yourself, turn off the financial news, and stop visiting forums that could influence your trading decisions. You obviously want to be aware of upcoming events and be able to read the charts to understand how the market digests said news, especially if you are a short chart trader. What you don't want to do is listen to all of the talking heads telling you to buy this, hold that, or sell... sell... sell!! You also don't want someone you don't know in your head simply because you made a mistake of visiting a forum. If you don't believe me then continue status quo and mark this thread for future reference.

NCT