What Can I Achieve In A Live Trading Room?

 Live trading rooms are online chat sessions where a professional day trader (moderator) calls technical setups/trades and helps participants see the Markets. In these trade rooms, both novice and seasoned traders watch the moderator's charts, ask questions about setups and using the platform, and trade themselves, either live or in simulation mode.

In a good trade room, the professional moderator does not encourage the participants to enter on just what he is doing, but explains why such and such is a setup. The participants should be able to make their own decisions based upon the advice being offered.

Trading rooms offer many benefits to both the novice and seasoned day traders alike. The novice trader can begin to see chart setups, learn a new trading system, and feel more comfortable knowing that the moderator is sitting right there, available for help. They won't feel all alone in the world trading blindly. The seasoned traders also benefit because it is four eyes looking at the same charts instead of two. The moderator may see a setup or see why it is not a setup and not advisable to enter. Even seasoned veterans appreciate the extra set of eyes before taking a trade. Understand...day trading can be an extremely lonely profession, with no one to talk to but the computer monitor, the dog or the cat.

There are several types of trading rooms available on the Market. Some trading rooms are for teaching only, where a professional trader shows how to use the trading system in which they are experienced. This can be extremely helpful to new traders who just bought the software and are not sure how to use all of its features.

Other trade rooms have the moderator actually calling trades. This type of arrangement is a bit dicey. If the moderator is not a licensed broker and calls trades, and the participant enters the trade and loses, the moderator is not liable in any way for the participant's loss. Trade rooms where the moderator simply calls trades without explanation have limited value in the long run. When the moderator isn't there that day for whatever reason, the participant is not able to trade that day. It's better to have a trade room where there is information transfer so the participant can become independent.

Another trade room, which, over time, is probably the best, is the room in which the moderator does not actually call trades. Instead, the moderator calls setups, at the same time explaining why it is a viable setup, and then leaves it up to the participant's discretion as to taking the trade or not. The effectiveness of this type of room, especially for a novice trader, is that they will learn to see the setups for themselves and take responsibility for the trading they do. If there is a loss, they won't blame the moderator.

Regardless of the style of the room, most trade rooms are oriented towards a specific trading system with certain trading strategies. Some rooms offer free trials, others do not. Generally, the free trials to the rooms are not worth much. Since the room is tailored to a specific trading system and trading strategies, without prior knowledge of the system, understanding what is being done in the room is limited.

Probably the worst arrangement for trade rooms is where there is just chatting back and forth between participants. It is difficult to learn anything in a room like that, without a moderator. It is kind of like a free for all--trade at your own risk. This arrangement is not much more than background noise.

As far as audio / video, some trade rooms are all audio (Voice over IP), with chatting back and forth between the pro moderator and the participants, or just the moderator alone. Other rooms offer audio from the moderator and texting from the participants.

In some rooms, texting can be all the participants and the moderator; in other rooms, texting is limited to each participant texting the moderator and the moderator reading the message and answering aloud or texting back to the participant alone, depending upon the nature of the question.

Some chatrooms offer both audio and video, where the participants can hear the moderator and see the moderator's charts. This is good and bad. It is good in the sense that the moderator can have more charts up than the participant, and cover more markets. It is bad if the participant decides to rely on the moderator's charts and the moderator's internet connection goes down.

You'll also want to decide the kind of Market you want to trade. There are are trade rooms for trading stocks, trading futures, emini, commodities, technical analysis rooms, fundamental analysis rooms.

It is advisable when deciding to use a trade room that you figure out what you want the trade room to do for you. Do you want to see the moderator's charts? Do you want the moderator to call trades for you? Do you want to become an independent trader? Once you make that decision, finding the proper trade room is a much easier task.

This is a very difficult question to answer properly, because the response is dependent upon an e-mini traders experience and goals. Obviously, a new trader should trade a single contract until he or she develops the competence and confidence to execute trades in a consistently profitable manner. I find, on the other hand, many experienced traders tend to over trade their futures trading account and find themselves, at times, at wits end.

I am an e-mini trader, and it is my career; so I take trading seriously. My game plan is to take 5 to 7 e-mini set-ups during the daily trading session. I feel I need this many set-ups to earn the kind of income I desire. That being said, there are days when 5 to 7 opportunities do not arise and I am forced to settle for fewer opportunities. As you might've guessed, there are also days when more setups occur and I take a few more setups than seven. Still, the average falls in the 5 - 7 range on a fairly consistent basis. I am comfortable with this number because it provides me ample opportunity to earn a comfortable income.

No trader should risk more than 2 - 3% of his or her e-mini futures account balance on a single set up. In fact, less is better. Generally speaking, I trade more like 1.5% of my account balance, which is usually 5 to 10 YM contracts. It is not uncommon for me to observe traders, especially newer ones, trade five or 10 YM contracts on a $7500 account. This is a recipe for disaster, as trading at this level falls into the range of over trading. Of course, the amount you risk is in a direct relationship with the stop/loss levels a trader chooses. Since the YM can range quite a bit I tend to trade wider stops than most people, though I have mental stops in mind that are nowhere near the stop/loss I set on my DOM. I consider my stop/loss to be an emergency stop/loss, and tend to trade my mental stop losses with discipline and accuracy.

I generally start with a smaller number of e-mini contracts and tried to gauge the mood of the market; if it is trending consistently I am more comfortable with a larger contract number than trading a choppy market. In a previous article, I mentioned I enjoyed channel trading and have some success with channel trading technique under certain circumstances, and will trade slightly higher contract numbers if they channel is consistently moving off from the high point of the channel to the low point of the channel.

I suppose the most important aspect of this article is relatively simple; most people tend to over trade and trade too many contracts. It is far easier to trade a lesser number of contracts in a more expeditious fashion, as opposed to taking low probability trades and hoping for the best. I currently have one student who averages 26 trades per day; this boggles my mind, as I don't generally see 26 potential setups, good or bad, during an average trading session. He would be far better served by limiting his trading numbers and being more selective in the setups he chooses to initiate trades.

In summary, I have stated that many traders tend to over trade their accounts by trading too often and with too many contracts. I have given some parameters for wise money management; never risk more than 2 - 3% of your futures account balance on a given trade, even less is better. Finally, for most people I believe that 5 to 7 trades is an adequate number of trades on a given day. There may be days when you do not have enough high probability setups to make 5 to 7 e-mini trades, and there may be days when you have the opportunity to trade several more times than 5 - 7 times per day. The important thing is to have a plan for trading and money management and stick with it https://tradingthug.com/. If you're trading for a living you need to make enough trades to give yourself a chance to earn a living. On the other hand, trading too much, or over trading, will limit your ability to earn a good living; but your broker will certainly love you as you pad his account with your over trading.

Spiritual Warrior

Often the picture of a warrior conjures up images of a battered and wounded soldier, breathless and exasperated! The image of a spiritual warrior is somewhat different!

A spiritual warrior is always ready and prepared to meet any challenge with alacrity. He has no fear, just love and lightness. Spiritual warriors are balanced - grounded and firm. They never tire because they never get wounded. Unlike the other warrior, this one smiles in the face of uncertainty!

The spiritual warrior walks with a pride and confidence - even before he begins, he knows victory is guaranteed. No task is too great or prodigious because he has cultivated such inner self-respect and a big open heart that is willing and generous.

He is never distracted or side tracked; lazy or careless. He cannot even indulge in vanity for the warrior knows that to lose focus for even a moment would allow the enemy to gain ground!

Spiritual warriors are brave and courageous. They keep themselves protected with the shield or aura of God's light. Their feet hardly touch the ground and their "artillery" is always on hand.

The weapons of a spiritual warrior are not the usual ones made of stone or wood or gunpowder! They flex the muscles of their mind with the inner powers - the power to face, to adjust, to discern, to withdraw, to cooperate, to let go and move on when necessary. They also ensure they are full of inner beauty: lightness, kindness, generosity, humility, benevolence, compassion, beauty and more. And most of all, they carry the 'weapons' of love, peace, truth, bliss and purity. These tools need sharpening from time to time through meditation.

Spiritual warriors are known to go through "spiritual deaths". One such death is ego, another is attachment. Learning to "die" is a given on the spiritual journey, in fact it is when we have truly died, that we can really awaken and live. Therefore the battle is not with the enemy out there, but with the one within. Once I have "killed" or for sake of semantics, transformed myself, metamorphosed myself, then there is no battle left to fight. For example, if you don't have an ego, then no one can dent or crush your ego. If there is no attachment, then no one can give you pain!

This is illustrated well in the Bhagavad Gita.

The whole Gita is a dialogue between Lord Krishna and Arjuna, the greatest archer ever. They are standing in the middle of a huge battlefield and Arjuna, having won the first choice, chooses to have Lord Krishna by his side and his rival cousin Duroydhana, has accepted what would have been his first choice anyway, the whole army.

Arjuna seeing that his enemies are his relatives and loved ones, becomes weak-kneed and refuses to fight! It is then that Lord Krishna begins by giving him knowledge and inspiration of various kinds. One of the last significant statements that is very moving is when Lord Krishna explains, "Whether you kill them in your mind or on the battlefield, it is the same thing." Lord Krishna was urging him to fight, not the violent battle, but the internal one of the web of attachment.

Some attachments can be so severe; they take on the form of a 'vein'. The vein channels the blood, the life force, from one organ to another. In the same manner, the 'blood of attachment' affects all those to whom you are attached. If something happens to you, it is as though it is happening to them, such is the influence of the attachment.

Arjuna was a spiritual warrior. The very meaning of his name is the one who cannot be defeated. We are all being called on to be Arjuna, spiritual warriors who are not defeated by life's trivial games.

After having conquered our attachment to people, money and possessions, food and taste buds, clothes and comforts, our final battle will be with our attachment and identification with our body. The 'departure' needs to be so smooth and natural, as familiar as a mini-meditation. The feeling is of moving from one floor to another - from this worldly plane to another. No tug of war, no pull of the body, people or comforts and absolutely no pain - the soul simply flies on.

Meditation is in fact like a mini death. We learn to separate from the consciousness of this body and fly beyond to our Home of Light. The more we practice this, the more in fact, our "battles" will reduce!

Its time... to look within and seek out the enemy. The spiritual warrior blames nobody, and takes full responsibility for the self and the battlefield he has found himself in https://ulflag.com/. Cut those veins of attachment that drain so much energy from the soul, kill the ego, become light and most of all learn to smile because you are that Arjuna and victory is guaranteed!

Make Money Online Now: Fast and Free

You are not the only one looking for ways to make money online fast, there are millions like us everywhere. Thanks to the ever-developing internet technologies, it has become easier to look for opportunities to earn. You can do this by selling stuff online, write, create websites and many more. To make it really easier for you, I have compiled the Top 5 Free ways to make money online now:

Be paid just by sharing your opinion and answering surveys

Become an eBay seller

Become a Freelance article writer

Audio file transcription

Sell photos

These are simple and free ways to make money online, even without an investment.

Take Online Surveys

Taking online surveys won't pay huge you the big bucks and make you rich, but this could be a solution if you are looking for a way to make free and fast online money. You only need to sign up to an online survey company like Toluna.com. Registration to these websites are typically free; you just need to fill in some personal information and you should be good to go. There are many topics involved in survey taking, most are on financial products, appliances that you already use, and products that you are familiar with. There are surveys that would not take you longer than 20 minutes to complete, while there are some that may take as few as 5 minutes. You will be normally paid in points which you can use to exchange for store vouchers and credits.

eBay Selling

Look around you. Do you have stuff that you don't use anymore or don't want to keep? Stop hoarding and get rid of unwanted stuff and make money out of it! How? Go to eBay.com and look at the things being sold there, and you'd be amazed. There are people who buy the weirdest stuff, even, so it is not impossible for you to sell your items. All you need to do is to sign up for an account, take photos of the items that you intend to sell, and upload them to your profile along with some description. Be as detailed as possible so that your potential buyer will be enticed to buy the item. You can then sit back and just wait for the bids to pour right in. eBay selling one of the fastest ways to make money online, and it's free to join, too!

Sell Your Writing Talent

If you know your way around words, you can make money online really quickly. There is an ever-present demand for online writers who can whip up compelling and unique articles. As you are starting out while building your profile online, your rates will be low. But I know many people who earn $20 per day when they were just starting out, so you can do this, too. There are thousands of bloggers, website owners and businesses that need a regular supply of content for their sites. If you are a fast thinker who can type fast, you might find this a lucrative career in the future.

Transcription Jobs

If you are among the number of people who have excellent listening skills, type really fast and have good English skills, then you can be a transcriptionist. The pay can be compared to writing, but there are clients who pay more especially if you are a regular contractor for them. You can look for clients through freelancing sites like Elance or oDesk. You can start doing this without any investment, however, you might need to invest in a good set of headphones that will allow you to hear all the words in the audio recordings you will have to transcribe. Transcription jobs are plentiful, and once you have a steady set of clients, you will find that transcribing can be one of the fastest free ways to make money online.

Sell Your Photographs

If photography is your passion and you find yourself short of funds, you can earn money online by selling some of your photos. You can use your computer to upload your photos to websites that store stock photos like istockphoto.com. These websites may require you to upload some samples of your work prior to being allowed access to their galleries, so it is best to prepare a nicely-put portfolio that you can use. Remember to check the website to see which kind of photos sell well and which are popular.

There are so many option to make free money online fast, without the need to incur costs and invest a lot of money. The key is in looking for the right source of information.

Are you interested in making some lump sum pocket money without moving out of the comforts of your home? Do you think it is possible to make money without joining a firm or having your own business? The answer is YES! All you need is a PC or a laptop and an Internet connection and you have many easy ways to make a fast buck.

Below Are My 5 Best Ways Of Making Money Online In An Effortless Way:

1. Online Tutoring

With many people having tight working schedules, joining a full time course has become a remote possibility. This has seen the boom of online courses that offer amazing tutoring and online classes which can fetch you that coveted degree you so desired. If you have a flair for teaching and are well versed with a particular subject, you can offer your services for online tutoring for both school going kids as well as adults. Online tutoring has become very popular and pays you handsomely if you prove your worth. There are many tutoring websites that you can enroll and make good money online.

2. Freelancing

Freelancing is one of the best ways to make money online. You can get many online freelancing jobs with a work from home option. Whether it is writing articles, data entry, filling forms, programming or editing, there is no dearth of freelance jobs that can help you earn some quick money. Some freelancers who are very good at their work are offered great online projects that can keep you busy for months and all you need to do is to submit your work within the stipulated period, taking care that you fulfill their requirements satisfactorily. Of course, there are chances that your work may not be liked if you do not follow their guidelines.

3. Selling Goods on eBay

eBay is truly a boon for online businesses and can be touted as the best way of making money online. If you have something that you think can be sold and you do not know where to sell, simply turn to eBay. You can showcase your products that need to be sold and auction them to the highest bidder. Trial and error methods can give you the best approach to sell your goods with a reasonably good profit margin. You need to learn the tricks of the trade and garner positive feedback for your selling at the eBay auction site. This will improve your ratings in terms of reliability and authenticity. Once people know you are a genuine party, you will get more and more online customers and you will get a steady flow of green paper by online selling.

4. Online Forex Trading

Forex trading is trading of foreign exchange with an eye on making money. It involves buying of certain amount of currency of one country and selling it to buy currency of another country that can convert into profit. You can then reinvest the principal amount to make profits by daily monitoring of the currency value and the pips. Forex trading is fast catching up as one of the best ways to make money online. This type of trading is easy and does not require huge investments to make a profit. You can take the help of Forex agents to help you to learn the nuances of Forex trading and then do it yourself.

5. Flipping Domain Names

If you are a master of web designing and great at shaping up websites to generate more traffic, then you have an innovative way of making money online. You can buy sick and outdated domain names for dirt cheap rates, redesign them and infuse them with attractive stuff. Constant updates and some good plug-ins can convert the drab website into a lucrative one with many more visitors and clicks. The fundamental trick to be remembered is that you need to be strategic and business oriented to turn the domain name into a profitable one. If done with astute web sense, domain name flipping can be considered as one of the best ways to make money online.

Conclusion

Making money online can be interesting and rewarding if you undertake it with some smart thinking and a profit making approach https://zaabet.net/. Some of the best ways of making money online are cited above, here are other great ways too such as affiliate marketing, blogging, financial services and selling exclusive goods online. Before embarking on making profits online, it is advisable to make a thorough study of which option you venture to make sure that you end up with a sizeable amount of dough in your kitty. Like any other business, making money online too, requires sincerity and dedication.