Thursday, June 30, 2005

The War of the Chats

  • Woodies CCI and 9 other rooms on Hotcomm:Relay5
  • TradersHaven on Hotcomm:Relay7 (DrBob’s room)
  • TradersParadiese on Hotcomm:Relay (Sport’s room)
  • (Teddies FuturesTrading Room on Paltalk) (RIP)
  • (OurFuturesTradingRoom on Paltalk) (RIP)
  • #ourfuturestradinglearninggroup on IRC:othernet (Anti’s room)
  • #safari on IRC:othernet (maybe our new room, but sure not mine )

I’m a blind, dumb, easily mislead cretin…no that’s still too good, … but you sure will be able to add the name you like to read there, even if I don’t allow anonymous posts in this blog as I think traders should be able to stay for what they write, same as you have to accept the results of every trade you do.

Ok, the last development in this drama seems to be, that anti is having a second website, that he is trying to sell something as this second website is registered to an Inc named Stock Market Research and that traders asking difficult questions were banned tonight by anti from #ourfuturestradinglearninggroup.com.

This last development lead to my resignation as moderator in anti’s room. One thing I don’t like is banning people, because they ask questions. One time Teddy asked questions about anti and I stood with anti, as I did not like the way these questions were asked by Teddy. And I still stand with this decision, because the way Teddy posed his questions by being away for weeks and then popping into the room and starting a tirade against anti, wasn’t the way to do it. You can’t come to a party, start shouting and asking accusatory questions without having credibility first. Build your reputation first or you risk, that what you have to say will be dismissed as rantings by someone who doesn’t know what he is talking about. Teddy crashed the party and the party decided to go elsewhere. Now the choice is yours. In my eyes Darth, Shamu or Mike have credibility, I know them for a long time and I like their posts.
Sure they can mislead me again and anti is the real deal, but for now I decided to leave #ourfuturestradinglearninggroup.com

I myself once had a Paltalk room registered, but for me this room really was for all to use. The Paltalk room is no longer available, as Paltalk sees these rooms as commercial rooms and is still refusing to reopen my room, even if I paid for an upgrade to a premium room. It was a 1 month subscription for 7.95$ so no real harm done.

Mike now told me, that there is yet another IRC room, where we can meet. and maybe this room is now finally our trading room, where we can just trade, no bashing of other rooms and no gurus.

  • The new room is #safari on the othernet (irc.othernet.org).

On how to setup Mirc, see the my earlier post.

Back to business:

I want to trade. Simple as that. I like to be with friends I know trade for real and which I can respect for what they do and stay for. It seems, when most of us, who at some time where in Woodies room, decided to leave or where forced to leave, we exchanged a stable environement with an ever changing one, where everyone follows his or her own agenda.

Don’t follow, decide on your own. I myself actually considered removing myself from chats alltogether, as all this stuff interferes with my trading. I missed 30 ticks up and 40 ticks down on the euro, just because I concentrated on reading a logfile instead of concentrating on the markets. For now I remain, as I like to have company in this lonely business, but I will not lead. I’m no guru. I go my way and a chat is just that, company when there is nothing else to do but wait for a setup or wait in a trade, not yet developped.

Meet me in IRC: #safari on the Othernet

 

14 comments:

cantgetadecentnick said...

Finding the "right" trading room is a bit like finding the "right" trading system don't you think?

What is the "right" trading system?

Why it's the one that's right for you!

Where do you find this sytem? How do you find it?

The same way you find the "right" trading room Croc.

It's right under your nose.

All you have to do is look.

best wishes

Globetrader said...

Let's summarize:
I have the right trading system (even if I screw up big times sometimes, but that's sure not the systems fault)
I know, why it is the right system for me
I was introduced to it, when I was no longer looking.
The "right" trading room...hmm, I'm still looking. Right under my nose you say. Sometimes I miss the forest for the trees. So you know, how to contact me. PM me or leave an e-mail, if you want me to join, as I myself am blind.

Avellanas said...

I don't know why anyone was bashing you for supporting anti the first time against teddy. It happened just as you said. Most of us were intently following the 7/20 when Teddy showed up out of the blue to raise hell and wouldn't let go. Most of us knew something wasn't right but still wanted any information that was shared without drama. So much for that idea.I just wanted to see pictures of sports house and now I have anothe irc window. Keep up you helpful work.

vlad said...

Hi croc,
I've just want to say I like your complete frankness to yourself and to us as well. Admirable.
I dislike and hate all that crap all around with these chat and blog wars. I am sick of that.
Hope I will meet you and others in #safari room.
vlad
P.S.
I dont know what room "right under your nose" you are reffered to but I think it could be some room on Echat right under your Ensign charts :-) IMHO
Regards, vlad

cometguy said...

Hi Croc,

After years of spending my trading days in chatrooms in MIRC, Paltalk and than Hotcomm, I've come to the realization that once you have learned to trade your system, whatever that may be, that chatrooms are only a distraction that can cost you money. Since I stopped hanging out in chatrooms, my trading has been more focused. No second-guessing because someone I respect gives a different opinion, no hanging on to a trade because you posted it and don't want to lose, no trying to figure out the latest system someone just explained rather than watching your own setups. In reality, chatrooms are just the online neighbourhood bar; a great place to relax but not to work.
Good luck and good trading to you
cometguy

Jennann said...

Hi Chris,
I've certainly enjoyed reading your blog from time to time. Alot of good info and food for thought. I thought I'd add a comment regarding trading rooms. (I'm going to cut and paste this from my trading blog/diary...written several months ago):

Trading - The hardest job I've ever loved

I've observed so many traders eagerly attack the markets only to end their trading careers early because of frustration or blown accounts. There are those that develop "systems" and swear by them. There are those traders that seem to thrive on others failures. I've investigated and spent time in many different trading rooms over the years. There is always some leader claiming to know the markets and how to trade them. I have decided these environments are not for me. They foster dependency. They can make one doubt what one already knows. And, inevitably they foster competition. I've found the market to be competition enough. If I can't trade alone and learn to trust my own judgement, I have no business trading at all.


Wish you all the best, trading and personally!

Globetrader said...

Jennan and Cometguy,
thx for your comments.
They struck a nerve with me. Not only did I post just this week 2 trades in Dr.Bob's room, which both were losers. The first because I did not want it to become a big loser and I stopped the trade without giving it the necessary room, the second was the reversal of the first (if I'm wrong long I should be short, if price is right at such a breakpoint) and the second really cost me, as I did not want to admit I was wrong again. I did eventually, but later than usual. So not only was my initial trade correct and I would have held it, had I not posted the trade as I usually don't stop my trades with a 3 tick loss, the reversal cost me even more, because then I had convinced myself, that my first assessment of the market was wrong and I gave the trade a lot more room than warranted.
Yes I respect you and your trading.
And I'm sure I could get influenced, if you post something. There are others which might influence me, so it might be very healthy for my trading to limit the Chatroom times to non-trading hours. To be in the Chat, when I need a distraction from trading, but not have it running while I trade.
I tried it today and it saved my day after making some blunder earlier in the day. I could concentrate on the chart and enter right at the correct moment to turn the red ship around for a green finish. I hope you both are well and enjoy your trading.

cantgetadecentnick said...

Sorry Croc, wrong answer.

Very good try Vlad. You can do an awful lot worse than check in to Buffy et al.

However, prize winning rosettes to cometguy and jenann.

Contrary to what Vlad thinks he sees --- the inner Croc --- I don't believe that Croc's visceral feelings have yet been revealed.

If you will, what are the contents of the Croc's stomach?

Croc. In a previous response to my nick, you talked about how you felt/believed that could make the transition to a higher level of trading.

Specifically, to emphasize size.

Nothing you said there led me to believe that Croc's inner soul was ready for that transition to the "higher" plane.

You said that your path was being enlightened by a mentor. Now you say you were "given" your system when you weren't even looking. You say you are not a leader (at least in chat room terms). You admit to being ... dare I say "duped" ? ... twice, vis a viz these chatroom "gurus".

Nothing wrong with the above. However, there's not too much of Croc making Croc's sytem his own.

For example, how do you make sure that you maximize size when you are correct and minimize when the odds might not be maxed on your side. How do you completely focus on trading when you have some chatroom (even if no sound) taking up screen real estate?

What am I getting at here?

I think Croc that you probably have managed --- through the school of hard knocks --- to strip away many of those baggage items that prevent most from achieving success in this business.

However, it is my belief that you have replaced that set of inhibitors by other layers of "crutches" and support trivia.

These are holding you back. Strip them away.

Start with the chatroom fetish.

best wishes.

ave3 said...

Croc,

denial gets you nowhere. Stop hoodwinking yourself. As in trading, accept the fact that you exercised poor judgement and admit your mistake so you can move on.

You backed the wrong horse in the Teddy-Antiicc banning affair. Stop rationalizing that you did not make a bad mistake, same as in trading saying "some indicator" caused you to take the wrong side of the trade. The fact that you missed the big picture, the tree, because you noticed only the small nearsighted picture, the moving leaves, it does not make you less wrong ... and definitely it does not make you right in any petty way.

Just make an apology to Teddy, equivalent to cutting-loss in trading, not so much for Teddy as for yourself, so you can move on.

Globetrader said...

Ave,
I think you missed the fact, that
- I left the forest,
- met Teddy already in person in safari,
- will no longer post any realtime trades or discuss signals while trading and
- decided to chat only at leisure time.

I have no interest or time for any chat wars. I want to trade and will meet traders at the local chat-bar at off hours. Then there will be time enough to gossip.

Following this discipline already resulted in one of the best trading days of the year, so I assume it's the correct path to go from here on.

ave3 said...

Croc,

"... Following this discipline already resulted in one of the best trading days of the year... "

Wish you all the best.

cantgetadecentnick said...

It is the correct path, because it is your path.

best wishes.

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