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What do you look for in a Trading Chat Room?

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I would love to see Trade Reviews everyday instead of just 2 days a week. They are soooo helpful.

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Hi all,

For me as a new trader and someone who has no  background in any of this, i appreciate the help and support of the chartroom community. I've never been part of another chart room but i watched a few on youtube before i decided to sign up for the lifetime membership with BBT. What separate you from the rest is the get rich quick talk, The fantasy talk! but with BBT,  I can learn to become a great trader if i put the time in.This business can be very stressful. The unlimited daily inputs from different moderators about the market, makes my day  easier. I want to learn as much as I can before going LIVE. I will be asking a lot of questions, which translate into a lot of emails. So far I'm thankful because, my emails always gets a reply, however I feel the process can take time to get a response. I'm away from my desk a lot so i use my phone to send emails. Is it possible to get an email confirmation reply?

Grateful to be part of this chartroom!

Robenson

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I have been in one other community and I can say that while I left because their trading style did not align with how I wanted to develop as a trader, it was a relief to leave an environment that was very degrading to females.  The BBT community is the gold standard for respect of members and focus on learning to trade in a sustainable way.  I am so happy to be here.

My one wish is a structured way to identify another trader who would like to be my "buddy".  I noticed on the forum that a couple of small groups formed so I think there may be others who would like something similar.  Some kind of filtering system to identify things like:  time zone, trading experience, trading style, preferred frequency and method of communication, areas of trading that one would like support with, etc.  That way instead of just posting a "want ad" in the forum, it would be possible to actually connect with someone of like style and experience who has similar expectations.

 

 

 

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I joined BBT in Jan 2017 with no prior trading experience, and no prior trading education other than Andrew's book. As you'd expect, it was a bewildering experience to see the live fire of the trading environment. Andrew and the BBT mods eased that entry tremendously through their chatroom commentary, on the forum, in email, and the YT recaps. Since that time, additions of the pre-market show, ADog's epically-detailed trade reviews, and everything else that comes with a BBT membership only serve to increase learning opportunities offered by this community.

The BBT style never fit my personality, and even early on when I was overwhelmed by "unknown unknowns", this was intuitively evident. I therefore began to explore the universe of potential approaches to trading, in search of something more matched to my strengths. My single desire for the community, then and now, is a greater diversity of discrete trading styles / systems, led by experienced traders.

I know from conversations held with other members, as well as comments in chat, that not everyone is so lucky to begin their trading journey with with BBT. This truly is a place geared towards community and education. I have not found BBT's level of camaraderie anywhere else, and regardless of where your trading journey takes you, there is absolutely no better place to begin than right here. If the style suits your strengths, it has all that you need to become a great trader.

 

 

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Hi wpicotte,

 

You are absolutely right! BBT is a wonderful community to be apart of, the learning environment blew my expectation. I thank you for your reply. Take care!

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I joined BBT at May 2018, I only knew about BBT from Andrews book as there was nothing written about BBT at trading review sites, anyway, after the first month I decided to get a lifetime membership, not only because of Andrews trades and helpful lessons, but mostly because of the members here and the moderators, I got so much help during the whole trading day, and I still get it whenever I ask for it! Everyone here is so kind and experienced in his own way. I won't re-write all the positive stuff we've here as it's all written above.

I don't know if it'll be possible, but it'll be really great to have Andrew sticking around with us for a bit longer time every now and then! He's an amazing trader, and most of the time it's more than enough for him to be done for the day in 15 mins xD. I really love how he reads the price action, and I'd love to see him talking about the stocks and what he expects them to do + why out of his trading time, once he's done with his trading maybe even once a week? As an additional session xD. Just sticking to the chatroom, and hearing his thoughts outloud for around an hour without him being in any trade + discuss that with the chatroom, cuz I know that it's tough to do all that while being under pressure of being in multiple positions while trading.

Other than that, this chatroom is really helpful and I really doubt that I'd have been able to get where I got to now without being a part of this chatroom!

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I've only been a part of BBT for around 3 weeks and have absolutely been loving it! All the moderators along with Andrew have been very helpful with any questions I've had and the experience I've gained from other members and seeing moderators + Andrew trade live is invaluable!! 

I also agree with Aiman. Being able to see Andrew stick around once a week or something for another 20-30 minutes or an hour would be awesome! Hearing his thoughts on his trades and seeing the way he manages things and watches stocks is so incredibly helpful and where I feel I learn so much. Being able to extend that not with him necessarily trading longer as Aiman mentioned but just hearing him discuss what he's seeing or give input to what others are seeing/watching would be really cool and I think lots of other members might enjoy this learning opportunity as well.

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What made me join BBT:

1. Transparency and Honesty - not a get rich quick, trade in sim first, you will not make thousands per day. it takes time to do this.
2. Andrew's personality - humble, with feet on the ground. His reason for trading is a combination of passion for it + the freedom it brings and flexibility. I see money the same way he views it as a tool. 
3. Variety - I like Andrew's trading style but I have also learned alot from Brian on swing trading and in general about market behavior; he seems to understand the market in a holistic way which comes from experience. Some people trade at open some at close, some do penny, some mid. Great for all personalities.
4. Mentors and members - combination of professionalism, humbleness with sense of humor. This is not an exclusive community where you have to meet certain criteria to join but Andrew has done a great job in selecting moderators and the team he put together and this is important. Mature, professional people with good intentions.
5. No marketing heavy - Andrew has put a lot of effort in building the community and thank you doesn't pay the bills, there are operating costs and costs of time but Andrew does not abuse of this and he does not push things that are not necessary. His opinion on the products he promotes is always honest. He is a smart guy and knows that growing the community organically in the long run will create a better community.

What would I like to see more? Something I like about Robert H is that he shows his failures and he is not ashamed of it, he has done recaps of bad trades and rule breakings, Andrew does this also, he accepts when his trading was bad and when he broke rules and he shows bad habits he had during the session.

I would like to see 
1- recaps of bad days from everyone. I commit myself to doing daily recaps even on red days. I learn more from bad trades than good ones.
2. Does not need to get personal as I respect Andrew's privacy but him explaining his journey in detail will help motivate us more those moments where trading gets hard and we feel like quitting. When he said he has been trading 6 years it makes me realize that I am not doing so bad, that it takes more time than i might think. Learn more about some struggles he had in the process of becoming consistent. Things that went through his mind and how he handled them. 

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I am lucky to have found BBT as my Trading community. I didn't try any other chatrooms before joining BBT. Just one and done. 

After joining BBT, I tried couple of other chatrooms to see what they are doing. I felt, just like the Market, some of these guys play with someone's greed (''you can make millions'') and FOMO ('discounted membership for first 50 participants/for next 15mins with clock ticking'). There is no such thing in BBT, they don't play with my emotions. It is open to all to try out and join if they like. Respect for the members and Open/encouraging environment for female traders are a big PLUS. And I agree to all the points mentioned above, so not going to repeat them. I would recommend BBT to anyone any day.

What I would like to see:

  • Would like, atleast once in a while, Lifetime membership seminars and Live classes conducted in different time zones, considering we have Traders from across the world and we are growing. Currently this is focused to EST and PST.
  • Record the open : Post the premarket, can we have recording of the first 30mins Live action, posted in Membership section. Andrew's recaps are verygood, but since lot of traders take their own trades at the open, they miss what Andrew is saying Live.
  • +1 for Andrew to stick around and provide his thoughts about the market and price action, even if he doesn't take a trade. May be in the afternoon. Andrew can recognize the patterns like noone else.  For e.g - Everyone knows Andrew cuts his losses to a minimum, but he also adds to his position sometimes, when the price goes against him. What does he see exactly?. 
  • Mentorship program- I think we had one, but no followup program. Would like to see more Mentorship programs.
  • William's Trade reviews - Extend it to one more day, hope William is not going to hate me for this. May be mid-day, because not much action and most guys/gals are done with their trading already.
  • Buddy program - may be a platform for Trading buddy program.

 

 

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2 hours ago, IamKarthi said:

I am lucky to have found BBT as my Trading community. I didn't try any other chatrooms before joining BBT. Just one and done. 

After joining BBT, I tried couple of other chatrooms to see what they are doing. I felt, just like the Market, some of these guys play with someone's greed (''you can make millions'') and FOMO ('discounted membership for first 50 participants/for next 15mins with clock ticking'). There is no such thing in BBT, they don't play with my emotions. It is open to all to try out and join if they like. Respect for the members and Open/encouraging environment for female traders are a big PLUS. And I agree to all the points mentioned above, so not going to repeat them. I would recommend BBT to anyone any day.

What I would like to see:

  • Would like, atleast once in a while, Lifetime membership seminars and Live classes conducted in different time zones, considering we have Traders from across the world and we are growing. Currently this is focused to EST and PST.
  • Record the open : Post the premarket, can we have recording of the first 30mins Live action, posted in Membership section. Andrew's recaps are verygood, but since lot of traders take their own trades at the open, they miss what Andrew is saying Live.
  • +1 for Andrew to stick around and provide his thoughts about the market and price action, even if he doesn't take a trade. May be in the afternoon. Andrew can recognize the patterns like noone else.  For e.g - Everyone knows Andrew cuts his losses to a minimum, but he also adds to his position sometimes, when the price goes against him. What does he see exactly?. 
  • Mentorship program- I think we had one, but no followup program. Would like to see more Mentorship programs.
  • William's Trade reviews - Extend it to one more day, hope William is not going to hate me for this. May be mid-day, because not much action and most guys/gals are done with their trading already.
  • Buddy program - may be a platform for Trading buddy program.

 

 

Thanks for this! I really love those points, I'd actually emphasize on recording the first 30 mins of Andrew trading live, I do hear Andrew and listen to his thoughts while trading but I don;t pay any attention to him sharing his screen as I'm busy with my own charts, watching how he traded after we're done with trading will be much useful. The recap is really helpful and summarize it, but on recaps we only see candles, we don't see the price action itself, the exact entry, was it while the candle was going up? or on a red candle at the pullback, I'd love to watch his trading recorded somewhere in the education center

Mentorships will also be amazing! Would love to see another one coming

Thanks

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I would like to add. Is it possible to have a discord or chatroom where members can chat with each other live via microphone???? It is easier than having to write on a chat when you are so focused, there could be some rules around it. It could even be a text to speech or something.

It would also be great if for analytics purpose to benefit the community, we could link DAS to the chatroom or a platform where trades are recorded so we can gather data and go over trades that many people did, if they don't come up well we can discuss possible reasons they did not. 

I think there is a lot of intelligence  we can obtain from combined trading behavior that can benefit community as a whole.

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On 6/11/2019 at 5:17 PM, Beth said:

I have been in one other community and I can say that while I left because their trading style did not align with how I wanted to develop as a trader, it was a relief to leave an environment that was very degrading to females.  The BBT community is the gold standard for respect of members and focus on learning to trade in a sustainable way.  I am so happy to be here.

My one wish is a structured way to identify another trader who would like to be my "buddy".  I noticed on the forum that a couple of small groups formed so I think there may be others who would like something similar.  Some kind of filtering system to identify things like:  time zone, trading experience, trading style, preferred frequency and method of communication, areas of trading that one would like support with, etc.  That way instead of just posting a "want ad" in the forum, it would be possible to actually connect with someone of like style and experience who has similar expectations.

 

 

 

I am interested in this as well and like the proposed grouping variables. I think a small group like this could serve as somewhat of a mastermind group where we set goals and hold each other accountable for them. To combine another idea, perhaps a small group could be led by a mentor/more veteran trader. 

Edited by Bo Trailblazor

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On 6/15/2019 at 10:48 AM, Aiman Almansoori said:

Thanks for this! I really love those points, I'd actually emphasize on recording the first 30 mins of Andrew trading live, I do hear Andrew and listen to his thoughts while trading but I don;t pay any attention to him sharing his screen as I'm busy with my own charts, watching how he traded after we're done with trading will be much useful. The recap is really helpful and summarize it, but on recaps we only see candles, we don't see the price action itself, the exact entry, was it while the candle was going up? or on a red candle at the pullback, I'd love to watch his trading recorded somewhere in the education center

Mentorships will also be amazing! Would love to see another one coming

Thanks

I really like this idea, maybe if Andrew can replay some of his live trades and provide commentary on what he is looking at in the price action, level 2 and T&S while looking for the setup.

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BBT's culture of constant learning is something I love.

Brian's reading of the market is awesome and would encourage him to stay on the microphone during opening together with Andrew every day! I used to day-trade some before joining BBT and like the opportunity to learn more setup's and strategies, specially when discussed live. for example saw several recaps of Norm double bottoms with entries at the bottom wick but could never understand or take similar entries until he took one live and I could see L2, T&S while hearing his thought's at the same time.  Same setup as Robert waits for a 15 min confirmation but very different entries. Much easier to learn live than seeing a recap that has no L2 and T&S.

One reason for coming back to BBT is that if you trade for several hours during the day it becomes very lonely, the social interaction with moderators and others are always available and welcome.

 

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Posted (edited)

I have only participated in the BBT chat room and so I don't have much external comparison to offer.  However, I was very careful in selecting BBT over the many others out there.  

The primary decision factor for me was the educational value BBT offers for free through YouTube.  I reasoned that free stuff was good then what's behind the pay-wall is equally as good if not better.  Other chats provide teasers that are useless in order to get you to pay "for the real stuff."  However, if the free stuff is crap, why should I expect to find higher quality after paying?  

I agree with all of the pros mentioned here and will not repeat.  Here are some observations on possible areas for improvement.

I sit in on the chat occasionally.  I like to listen to the discussions, but I don't have the chat room open if I'm trading.  I find it very distracting and confusing.  For example, the one time I did listen at the market open Andrew had AMC on his chart.  I was also watching AMC that morning.  All of the sudden Bryan excitedly calls out - "I just went long."   I'm looking at AMC trying to understand why he went long.  Then literally 15 seconds later he repeats - "I just went long on WISH."  That totally threw me off.  I turned off the chat and haven't used it during my trading since.

My suggestion is that only the person who is sharing their screens should be calling out trades.  If others are also in the audio feed, they should discuss only what is on the screen, or share their screen before taking over the commentary. 

Maybe I'm the only one who notices this, but the audio quality of some of the moderators is almost unbearably poor.  Nobody should be using antiquated headsets designed for use with a desk phone during the live commentary (you know who you are).  Look at Thor and Andrew's setup.  A decent mic is more professional and it makes a huge difference to the audience experience.

I'll touch on the education section.  This is the primary reason why I joined.  It has been extremely valuable, however it could improve.  I would summarize my observations in one word - consistency.  As it trading, consistency is key.  A bit more consistent in the quality and delivery of educational content would put BBT far ahead of the competition.  A robust process around content creation and deployment helps.

Creating effective presentation materials and presenting them clearly is a difficult job.  It's a skill that must be acquired.  The old saying, "I wanted to create a short and simple presentation, but I didn't have time." is so very true.  Some moderators are excellent.  Others could use some help.  Peter is by far the best you have for creating and delivering presentation material.  It would be good to leverage him for suggested improvements.

A huge competitive advantage would be to offer beginner, intermediate and advanced levels of skills testing to help people measure how well they are internalizing the information.  This would have the additional benefit of bringing more structure to BBT educational offerings.  I suggest looking at the CME learning portal for examples.

Finally, the forum could be of huge benefit and I have seen other implementations where it is far more interactive than BBT.  The forum on BBT is almost useless.  There is no incentive for people to go to the forum and offer help.  One thing that works is a point system of some kind to give higher status to people who are contributing more.

Thanks for a great experience in my educational journey.

Edited by JimBro

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