Trader’s Narrative

Here are three places where you can chat with traders live during the day:

WallStreak
This is the newest one! If you’re familiar with twitter/jaiku you’ll be off and running with WallStreak in no time. I’m really excited about WallStreak - not only because Ugly is my friend and I want to see him succeed - but also because it uses new technology (ajax as opposed to java), is new and hungry, is open to suggestions, has introduced many new & exclusive features. Give it a try and contact Ugly with your feedback and suggestions. Developed correctly, this has amazing potential as a trading tool.

DehTrader
Glenn over at dehtrader.com has his own chat where a good number of traders hang out every day. They are a very friendly and helpful group. My only gripe is with the technical side of things: it is java driven and has a tiny screen size which makes you have to scroll to see what was said a few minutes ago. You can register or not, as you prefer.

EliteTrader
For some reason most people who know elitetrader, don’t know it has its own chat room. The last time I was there it was a mix of calls, commentary and some really childish banter - but that’s to be expected since it is a large group. Elitetrader’s chat doesn’t allow anonymous participation so if you need to register. On the plus side, they provide a daily log so you can go back and review it like a transcript.

There are also many IRC channels dedicated to trading. Some are public but most of the good ones are private, invite only clubs. If you know of any good IRC channels, drop me a comment.

My ideal would still be an audio setup with a relatively small group of traders but I’m beginning to be won over to the text based chats. I think there is great potential - we aren’t there yet but with some new adjustments and tweaks it can be a very good medium.