While the concept of trading stocks online can be quite confusing, you can easily become a pro trader in a short period. Most traders shy away from investing due to volatility and the high-risk involved.
But when you have the passion to succeed, it’s not hard. Day trading chat rooms are online platforms where successful traders share their trading activities. Here are the top 4 chat rooms to contemplate.
#1 Timothy Sykes’ Pennystocking Silver chat room
This chat room is owned by Timothy Sykes, a self-made guru in online stock trading. Tim made a name for himself after turning $12,415 into $1.6 million. The strategies he shares are derived from his own personal experiences. He works alongside Michael Goode (one of his
millionaire students).
In this chat room, traders share their technical and fundamental analysis of trading penny stocks. Because Sykes programs have so many subscribers, the pricing is pocket-friendly. Normally, Pennystock silver charges $149.95 per month which is lower than other comparable services. Novice traders can access over 4,400 existing video lessons.
While the chat room is a bit noisy due to many subscribers, you can filter for moderator posts. More interestingly, you’ll get alerts every time Tim makes a trade. It’s worth mentioning that these alerts are not for copying trades, but to give valuable information on the moves he’s making. These alerts will cost you $ 74.95 per month.
The Pros
- You can access real-time alerts
- Easy-to-use platform
- Extensive video library
- You can use the iPhone and Android app
- The moderators keep everything organized during the market hours
The Cons
- Tim’s extravagant lifestyle makes it look like a fraud
#2 Nathan Michaud’s Investors Underground chat room
This is one of the vibrant day trading chat rooms on the web. It was created in 2008 by Nathan Michaud, a renowned stock trader. Investors Underground is the home to thousands of traders who share their trading ideas in real-time. In addition to that, it encompasses some of the most successful moderators like Tim Grittani and Eric Wood.
The platform offers three types of chat rooms including Swing, OTC, and Momentum chat room. During the market hours, they don’t allow off chart topics. To access the chat rooms, you can subscribe to the different plans. One month membership goes for $1297 while three-month membership goes for $1997.
The swing chat room is managed by Michele Koenig and puts more emphasis on technical trades. He consistently shares the trading ideas and unnoted chats with the members. If your day trading involves price action, then this is the chat room to be. You also get trading alerts if you don’t want to spend the whole day sitting in front of the computer. On the other hand, OTC trading chat room has moderators who are accustomed to stock trading. They give invaluable tips on how to trade penny stocks by taking the winning positions.
The Pros
- Ideal for novice and experienced traders
- You’ll find prominent traders with a track record of success
- Traders access education courses, webinars, and video lessons
- Moderators react in real time
- Offer multiple trading styles
The Cons
- Lots of trading jargon
#3 Ross Cameron’s Warrior Trading Chat room
This chat room is owned by Ross Cameron who also works as a moderator. Being one of the biggest chat rooms, there are more than 1000 members who are actively participating in daily trading activities. The instructors offer top-notch training and live market commentary. Most of them have worked with one of the biggest firms on Wall Street. To ensure traders get the best odds for success, they usually get alerts via text or email. As an active member, you’ll receive a watch list of 3-5 stocks with the biggest winning potential.
What makes Warrior trading stack up above the competition is that it caters for both beginners and experienced traders. To get access to the chat room, you should sign up to monthly, quarterly, or annual membership. The annual membership costs $75 per month where you get unlimited access to live audio/video feed. Other benefits include market commentary from pro traders, live screening stock scanners, proprietary feed, and hot stock watch list.
Secondly, the quarterly membership costs $ 149 per month. The package includes Hot stock watch list, commentary pro traders, a proprietary news feed, gap scanner, and audio/video feed. Lastly, the monthly membership costs $199 and includes daily video/audio feed, market commentary, daily hot stock watch list, live streaming stick scanners, and proprietary news feed.
The Pros
- Offer expert trading tools
- Ross Cameroon chimes-in frequently
- They have state-of-the-art scanners
- The moderators are very friendly
- You get 3-5 stocks on the watch list
The Cons
- The monthly subscription is on the higher side
#4 Jason Bond’s chat room
This chat room was created by Jason Bond. Its main focus is to teach how to invest in low-priced stocks without being glued on your computer. Here, members get up to 10 trades per week. Additionally, you’ll gain access to a wide range of audio/video feed and unlimited educational materials. Plus, members are privileged to receive text and email alerts whenever stocks rise or fall. According to Jason, you can become a profitable trader in 3 months.
Traders can access three subscription plans depending on their trading strategy. If you’re a day or swing trader, you pay $399 to access limited features. It’s suitable for busy professionals who are looking to make a few trades every week. With this package, you get education materials like audio and video feed, email alerts, and real-time texts.
If you don’t fancy swing trading, you can subscribe to a long-term trading plan which costs $1,999. And if you’re looking to get premium mentorship from Jason you can subscribe to Millionaire Roadmap Plan at a cost of $9,999.
The Pros
- The moderators operate with honesty and integrity
- Excellent customer service
- Constant updates in real-time
- Access to a large video library
- Jason gives his trading summary
The Cons
- Relatively expensive
Best chat room as a beginner trader
If you want to start trading stocks, you should subscribe to Timothy Sykes chat room. It gives valuable trading insights that focus on larger trades. Besides learning his unique trading strategies, you get alerts that are sent via phone or email. Another reason that makes the chat room a one-size-fits-all package is a way of explaining. Tim has made it easy to understand.
Closing thoughts
As a new trader, you should focus on trading tools. To ensure you choose the best chat room that suits your trading activity, pay close attention to your personal trading style, amount of money you’re willing to invest, and your technical and fundamental skills.