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 Post subject: Difference between Chat Room vs Trade Room
PostPosted: Wed May 30, 2018 7:14 am 
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I saw an interesting message post by a user name at Elitetrader.com name zenemini in a conversation at the forum about Al Brooks.

Quote:
...I do believe it is a "real time chat" room for educational purposes, and not a "real time trading" room for the purpose of making live public market calls. Such real time market calls are only found in the ES Journal at ET.

That's when I realize that many traders do not know the difference between Chat Room versus Trade Room.

Below is my reply:

This forum Elitetrader.com is the perfect example to explain the difference between a "chat room" versus a "trading room" for those that do not know the difference.

Baron (ET owner) had a "chat room" there at the forum (no longer available). Any member of the forum can show up and talk about anything as long as they respected the TOU policy. Few posted real time trades...most just debated...moderators kicked out those that were there to spam, troll and start verbal fights.

Baron never called it a "trading room" although there were a few naive idiots that showed up to try to use the "chat room" as a "trading room" as in a live trade room.

Why not a Trade Room ?

There were no "head trader" telling everybody what to trade, when to buy and when to sell. Thus, had Baron called it "ET Trading Room"...there would have been a head trader telling everybody what to trade, when to enter, when to exit, trade mangement...all in real time.

You'll be surprise by how many people showed up at ET expecting the "Chat Room" to be a "Trading Room". Lots showed up and were very confused by what they saw...they wanted to see a head trader and just saw most arguing or talking about stupid things while only a few members took it serious and talked about their trades in real time.

Lets put it this way, I didn't see anyone in the "ET Chat Room" demanding live calls, broker statements from Baron or from the moderators nor did I see any forum message posts by anyone demanding broker statements nor demanding live calls from ET management...

People understood it was not a "ET Trading Room".

Had Baron called it a "Trading Room"...the head trader would have been expected to show verification of the live calls. I suspect this may be why Al Brooks does not show verification...its a "Chat Room"...not a "Trade Room" although both will have traders posting trades regardless to the excuses Al has given about why he does not show verification.

Here's the issue that some may have ignored. There is a "Al Brooks Online Trading Room". It's not hosted by Al Brooks although it bears his name and I believe uses the same servers as the Brooks website. Its hosted by others using the Brooks method and I believe Brooks then shows up and gives price action analysis.

Simply, if there are those demanding to see verification...they should be asking verification of those that started the "Trading Room" if those people are in there making "live calls". I suspect without proof that Al is getting a cutback from the "Trading Room" but if such was true...it still wouldn't require him to show verification.

Yet, I do think those that started the "Trading Room" in Brooks name...they should have called it a "Chat Room" and not a "Trading Room". Further, they should have identified themselves or Brooks should have identified them by name to ensure to his audience understood that it was not Brooks that started the "Trading Room" regardless to its location on Brooks website.

Another confusing aspect...a fee is charged for the room as if its a live trading room.

Anyways, now you know why Baron never called his room a "Trading Room" and it was free. It was called a "Chat Room" although I did see a few posts here at the forum by members that refer to it as a "trading room"...confusing others (new members) about its purpose but I never saw Baron or the moderators here at ET call it a "trading room".

The rumor is that the "ET Chat Room" was closed because the difficulty in managing all the arguments and TOU violations. But I suspect that too many members were trying to use it as a "trading room" along with referring to it as a "trading room".

Today, no chat room here at the forum...its gone. Yet, there's now a "Chit Chat" thread. LOL

P.S. Guess what the first few months of Elitetrader.com was and what it was spamming on Yahoo ?

wrbtrader

https://www.elitetrader.com/et/threads/how-to-understand-al-brooks.320533/page-28#post-4649268

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Best Regards,
M.A. Perry
Online user name wrbtrader (more info about me) @ http://www.thestrategylab.com/tsl/forum/viewtopic.php?f=127&t=850 & http://www.thestrategylab.com/wrbtrader.htm
TheStrategyLab Price Action Trading (no indicators)
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