If you’re new to the world of day trading, you may find posting that first post in a day trading chat room even more intimidating than finding that first stock trade. We’ve put together a list of our seven ten tips for day trading chat rooms. With these tips in hand you’ll be sure to get started on the right foot in that chat room.
Don’t be rude, otherwise known as be polite. This one rule will keep and get you out of most jams, in chat rooms and in life in general.
Type your tickers in ALL CAPS. This makes it much easier for people to know what you’re talking about quickly.
Pay attention to what day trading chat room you’re in. If it’s a penny stock chat room, do not post about scalping higher price stocks or playing merger arbitrage. They have their own chat rooms.
Stay on topic, especially when the market is open. Some trading chat rooms are more lenient than others on this topic. Sit back and observe when you first enter a chat room, but you can pretty much guarantee no one wants to hear about the line you had to wait in at Starbucks at 9:35 am eastern standard time.
No pumping stocks. Experienced day traders see right through this and you’ll lose credibility in that trading chat room. Never pump a stock unless you’re prepared to provide the basis for that position.
And, in that same train of thought, no bashing stocks. If you have relevant news to share, post a link. If you’re going to state an opinion on a stock, make sure you also state how or why you’ve come to that opinion.
We shouldn’t even have to say this, but we will anyway because it’s no prevalent, do not post spam.
Day trading can be a lot of fun, but it is mostly a solo endeavor. Day trading chat rooms are a great way to share your passion and knowledge with others. It also a wonderful way to learn strategies and ideas from other dedicated day traders. However, every chat room has their own unwritten code of conduct. This list should help you get started on the right foot in the day trading chat room of your choice. What’s your favorite trading chat room and what’s your chat room pet peeve?