See the top five online day trading chat rooms that can help you move from zero to stock trading hero in a few months
The best online day trading chat rooms offer opportunities for newer day traders and veterans who’ve been out for a stretch to learn and re-learn the practice step by step, guzzling good day trading strategies from the best day traders in a virtual room.
Day trading chat rooms are also legal. The thing to keep in mind is whatever you implement after hearing or watching it happen from your chat room colleagues, you implement at your own risk.
Provided group members do not collude to buy or sell stocks specifically to drive the stock’s price, you’ll be fine.
What do you need to watch out for to ensure you find the most ideal stock trading chat room for you?
- Full transparency of trades
You want your mentor or head traders in a chat room to share how they select day trading stocks when they enter and exit and why, how they scan markets and place trades in real-time, and so on. You want a mentor or group that helps you understand how and why a certain stock is expected to move soon—why they are watching a certain stock and so on.
That would help you gain the first-hand experience without necessarily diving head-first into trading day stocks.
- Meaningful chats
You know you are wasting your money when all people do is contribute irrelevant spam to discussions. Resourceful day trading chat rooms are like stock market scanners and have moderators for the purpose of rooting out irrelevant questions, answers, as well as only send actionable alerts.
Also, more moderators, head traders/mentors the better your chances of having your questions addressed and answered in greater detail.
- Trading Experience
Most important here is the hands-on day trading experience of a chat room’s head trader(s). You want to seek advice from the right people, people who can demonstrate they have what it takes to learn from. Beware of new mentors who’ve had little success trading recently posing as time-tested day and swing traders.
Many chat rooms will let you know in advance whether they lean towards bullish or bearish day trading philosophies. You’ll want to ask, though. That way you know if the head traders and your trading philosophies match up. If not but you want to learn a different philosophy, you can still join in.
Also, you might want a smaller focus group of day traders than larger groups that might make it hard to keep tabs with important threads and commentary.
So, what are some of the best day trading chat rooms to pay to join?
- Jason Bond Picks
Expect a clean, well-laid out day and swing chat rooms. On the left names’ panel, you can click on a name (green-colored) to either send a private message or mute them. Click on the purple ones to access the several, mentors hand-picked by Jason. He and the team provide ten trades weekly for teaching purposes. Long and short trades available.
- Watch Him Trade: Live Trading
Expect a clean, basic chat room with moderators’ names bolded and colored. Founder Kevin Kleinman shows his trading computer screens live feed, copies of his watch lists, and various educational material—including videos. Anticipate mostly long, day, and scalping trades.
- Timothy Sykes
Big on trading penny stocks which is Timothy’s strength as the most active mentor. It gave birth to Investor Underground—thanks to its transparency, everything is laid out bare for you—from good to bad to ugly trades. Expect a more alert based platform, to trade in small caps, as well as long and short trades.
- Investors Underground
Monitor stocks of all price range helped by multiple moderators and using various chat room styles. The three chat room styles are Swing, Momentum, and Penny Stocks. Expect minimal scalping, a proactive community, and ability to long- and short-trade.
- Bulls on Wall Street
Similar to Jason Bond chat room: mostly day and swing trades, momentum style, long and short trades, stock prices of all ranges, and live trading courses included. Alerts come by email and text message. Watch Kunal Desai live as he makes trades each market day.
- Superman Stock Alerts
- Penny Pro
- Warrior Trading
The best day trading chat rooms can help you learn the ins and outs of day trading without losing much time, money and motivation. Note there are dozens of online day trading chat rooms out there, so choose some criteria that suits a particular choice to your investing needs. The above five are legit and led by well-known day trading mentors and professionals. Also, be sure to evaluate if the benefits of a chat room outweigh its monthly subscription.