Here’s Why The TM Chat Room Works

• February 25, 2003
• Chris Tyler

 

Sometimes our best observations during
the day aren’t found as “alerts”…but in one of the other tools
provided to our members, the chat room. When the market is moving quickly
out of patterns established from a “jarring” economic report, such as
in today’s session, quite often our best opportunity to alert members to
potential high probability trades is within the chat room, as speed of entry, as
well as member “confirmation” is acknowledged immediately. 

 

 

The SPY trade in the above chart was quickly written about during the entry
bar, within the chat room forum. I was actually alerted to the trade through one
of the other members (thank you Coby) who was covering contracts near the
session lows. I then looked for myself to see what I saw in terms of pattern and
support for this trading decision. I can’t speak for the other traders’ reasons
for exiting profitably at these levels, but it did alert me to a reversal
situation that I then posted to our other members. Immediately after the post,
at least one other member (thank you Bunky) “confirmed” what I was
seeing, giving extra validation to a trade that might otherwise not been
“alerted” to, without the use of our TMs chat room.