Check out http://www.collective2.com They have tons of systems that will IM you signals, or can be set up to autotrade via TradeBullet (I think they plan to use Strategy Runner too, it's being set up now according to the admin of the site). There are literally hundreds of systems for stocks/futures/commodities/options/forex, most with a free trial period, and then after the trial there are many with a fee based on "only profitable for the period" (be that weekly, monthly, or whatever, and "only per profitable trade" - the signals are called live for each system but there isn't a "chat room" per se....some system vendors give commentary to their signals, some don't, and most have their own message board for their system, so you can ask questions, etc - and each system has performance statistics. Worth a look. W
There are couple MIRC chat software with othernet.org channel enthios room. Paltalk chat software in business section has a few. Some are pretty irritate though.
Brownsfan is 100% correct about pay-performance trade rooms. A couple of years ago, I explored that route and also inquired about percent-profit based auto-trade service, too. Here's the deal: anything offered on a profit-incentive basis falls under SEC/CFTC rules. The provider of service(s) needs to be certified as a CTA or possibly licensed, depending on what is offered to whom. The CTA certification process is no big deal... trying to collect on a profit-basis in a trade room would be nightmarish. It would never be worth the time & hassle for a room operator, period. BTW... for those who keep lamenting the same tired dogma that educators = vendors are all frauds, please direct that drivel toward Bradford-Radsche or Zanger. Both of those high-profile traders offer live rooms, newsletters and/or seminar workshops. Would anyone here call them frauds? Does anyone here wonder why they bother to offer fee-based services to the general public?
What I don't get is how can they still stay in business? I have a few simple strategies, I could explain it in 1 hour or less, let's say we practice for the rest of the week. But why would anybody stay for the whole month or even longer? Remember, you said his strategy is simple to understand...
Most signal calling rooms or chat rooms (there's a difference between the two...see earlier reply in this thread) that reveals their methodology... They know members will remain as long as the market isn't the same every trading day. In other words, the goal of the members (users of the method) is to get to a level where they can produce similar like results as the results of the trader that the method originated from. The only way that's possible (still a very difficult task) is to remain beyond learning the details of a simple methodology in hopes of picking up all the other critical pieces that involves trading. Simply, if you think successful trading involves just learning the code or rules of a method... Your in for a rude awakening when trading with real money. Look at it this way...trading is like a sport. Pretend someone showed you how to throw a left jab. You practice that left jab every day until the big match when you get in the ring with another fighter trying to knock you out. What are chances in the fight if you didn't learn all that other stuff...stamina, ducking, how to block the punches of your oppoent, feet movement, what to do if the opponent has a good counter-punch to your left jab, mind games, real costs involved in learning that simple left jab et cetera. Simply, trading is much more involved than learning some method that someone can teach in less than one hour, few hours, few days or weeks... That's the reason why some traders continue to use particular types of signal calling rooms or chat rooms because they need that other stuff...the stuff I mentioned above. Yet, whether the signal caller or the moderator can be the link to that other stuff is a different story all by itself. This is where some signal calling rooms or chat rooms begin to differientiate from each other via how that other stuff is linked into the room. Thus, a room that only has 50% winners may still be of great value to some traders because that room is providing additional education stuff that particular traders need while others in the room may find the info useless due to difference in experience levels. Regardless... You can teach someone your strategy. You can't teach that same trader how to trade...that's their responsibility. However, once someone starts to teach someone how to trade... It's mentoring and such should only be done in person via real money in actual trading conditions. Mark (a.k.a. NihabaAshi) Japanese Candlestick term
Mark, I actually knew the answer to my question, just intended it as a conversation starter. Evil me... Yeah it is true, the psychological aspect of trading will keep the subscribers in the room forever. Let's suppose the system is viable/profitable. But because of the money management and psychological pressure, most subscribers won't be able to reproduce the same result like the teacher's. So they will think: I must be doing something wrong (well they do) and they keep renewing their subscription. Also it is much easier to follow than to stand on their own foot. If the trade fails they can always blame somebody else than themselves...