One of most amusing aspects of running a trading room is to watch the depths to which traders will stoop for a simple 3-day trial. I usually get a chuckle out of there morons as I can always see their IP address and the webinar software alerts me to a duplicate sign up. Worse yet, the more they keep coming the bolder they become in chiming insane uninformed advice. I’m was trained by an Investment Bank and worked at that institution for 20 + years, which is not to say that I have all the answers in trading, but my judgment isn’t too shabby.
Last week, I was taking a trade and the trade moved against me 10 ticks or so and Henry the Trading guru blurts out “we’re going to the daily high.” Of course, the trade didn’t go to the all-time high but ran straight into solid resistance (of which I was well aware) and made a nice gain. I just love it when I get help from the gallery so when the trade works out I can give the free advice-giver a little ribbing. (nothing mean spirited) Henry didn’t care for my good-natured teasing and promptly left the room, but not before leaving a choice private message. Too funny.
Even more amusing is when they get on one of the review sites and start pontificating on trading as if they were George Soros and not the no-talent traders that they refuse to acknowledge. Too funny.
If it didn’t happen so often it would make most trading room operators pissed off. But there is no better fun than giving a serial trade room attendee a rough go; hopefully, they will stay gone as their motives for coming to your trade rooms are generally less than honorable.
Then again, how smart are you when you use a fake name and sign up with the same email address? I may not be the brightest bulb in Florida but I am not a dullard. I have at least 1 working brain cell and it doesn’t take that much to figure out the simple situation as I have described.
Some of these guys have signed up 5 times or more and don’t leave after 3 days unless you throw them out of the room. Wouldn’t it easier to simply learn how to trade and quit clandestinely (and that is using the term pretty loosely) try to sneak into a trading room. People who are proficient traders certainly don’t need me to call trades for them.
In defense, some people struggle with the loneliness of trading and want a sense of community with some other traders; I get that. I have had days where I was trading alone and traded like a rank amateur and sitting by yourself you feel downright worn-down; there is really no worse feeling than being defeated by the markets. So if your motivation to join a room is for a sense of community, I understand and try to keep the room lively and encourage room members to participate.
For the serial room attendee’s I don’t know why they just don’t come out and say, “I am a cheap-ass scum bag and am going to try to hustle as much information and trading information for free as possible.” Hey, I have a sense of humor, I probably would let them stay a week. Of course, no such admission has ever been forthcoming. I currently have about 10 guys that keep signing up under different names, and sometimes different IP addresses, but it doesn’t take too much to figure the whole sha-bang out. I suppose it’s just a sign of the times on the internet which is filled with keyboard warriors, scams of nearly every ilk, and individuals who will do anything just to get something free.
The retail world is full of new "magic" programs that promise untold fortunes with little or no effort. They generally don't work, which is an understatement. On the other hand, REAL TRADING DOESN'T LIE. Join me for 3 free days in my trading room and see. No proprietary software, no B.S.
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