Thanks to this awesome bull market and more Millionaire Trading Challenge students and I getting featured everywhere like here and here and here, my education business has exploded and my newsletter’s chat room is at all-time highs in terms of members and activity so here are some New Rules For My Chat Room created by our valued chat moderators who you MUST listen to!
Download the key points of this post as PDF.
New Rules For My Chat Room
1. Be polite. Do not harass or use demeaning or offensive language. Do not argue or insult. If someone violates this rule or posts incorrect info, please private message a moderator (don’t respond to that person).
2. Tickers must be typed in CAPS. Stock chat abbreviations can be found below (and should never be in CAPS). Don’t post anything else in CAPS. There is also a list of general chat abbreviations below.
3. The topic of the chat room is momentum stock alerts, primarily for stocks priced under $15. If a higher-priced stock has momentum (such as a 10% move) then it is on-topic. While people can make money from other kinds of trading, scalping stocks such as AAPL or playing merger arbitrage or scalping ETFs is off-topic. Stocks that do not have much volume are off-topic as well … to day-trade we need volume. Cryptocurrency price moves are off-topic, except when they can affect stocks.
4. We are not investors. The chat room is not the place for your in-depth due diligence on stocks you are trading. If you do something like that, please discuss it outside of market hours.
5. Stay on topic by keeping to stock alerts and brief discussion (two sentences or less) of trades from 9:00 AM EST to 4:00 PM EST (the 30 minutes prior to the open and the whole trading day). Everything that is not a stock alert or a brief discussion of a current or potential stock trade is off-topic during this time. For example, saying “XYZ is perking up after consolidation” or “ABC just broke support” or “XYZ just filed a PR saying ‘New contract with GE’” are useful alerts. Trade discussion means giving reasons why you think a trade is good or bad — don’t just say “XYZ is a good buy here” or “I think XYZ goes up,” give a reason to justify why. Off-topic posts will result in a gag, sometimes without warning (a gag means you won’t be able to post in chat).
6. No pumping, cheering, or bashing stocks. If there is relevant news, then post it (and post a link). But do not say things like “Come on SIRI!” or “XYZ is a fraud” or “Go XYZ!” Always give a reason for why you think a stock will move.
7. No stocks under $0.01 unless specifically approved by the chat administrator (Michael Goode).
8. If you give an alert, give a reason; don’t just type the ticker. For example, instead of typing “XYZ!”, type “XYZ dropping like a rock!”
9. Please no questions during the trading day (i.e., “What brokerage do you use?”). Don’t ask questions that require knowing the future (“will XYZ go up?”). Don’t ask if there is news unless you have already checked chat history and no one has posted news (see helpful hints for using chat #8). Don’t ask if other people are looking to buy a certain stock. Don’t ask if you should buy/sell a stock. If you don’t know, stay out or get out. You can private message Michael Goode or Tim Lento with such questions during the trading day. Or, you can ask after the market close…or best yet ask questions during Tim Sykes’ weekly Q&A webinars for his Millionairestudents! If you wish to discuss something during the trading day, go to the off-topic room by clicking on “Chat Room > Off Topic”. If you would like to discuss something with a particular user, kindly ask them to join you in the off-topic room. Do not answer questions in chat.
10. Don’t post information that has already been posted (we don’t need 10 people announcing that a stock has been halted).
11. Questions and alerts on whether a stock is shortable are off-topic during market hours. To find out how to check whether your broker has shares, see How to Borrow Shares to Short on Michael Goode‘s blog.
12. If you have nothing to add to the discussion of a stock/trade then don’t ask about it (“What do you people think about XYZ?”). Instead, when someone does mention an opinion or thought on XYZ you can ask them to elaborate on their reasons for thinking the stock will go a certain way.
13. Anyone violating chat room rules or just being annoying will be gagged (anything they type will not be seen by others). Significant abuses can lead to completely banning a subscriber from the chatroom. Significant abuses that will lead to banning from chat include but are not limited to: spamming, harassment of other users, use of demeaning or racist language, and encouraging people to violate the law.
Helpful hints for using chat
1. To send a private message to a chat moderator, right-click their name and select “private message”. Users cannot send private messages to other users.
2. To send a public message (a short message to another user that others can see), right-click on that person’s name and select “Send Public Message.” Please use these sparingly and only for on-topic comments.
3. Chat history can be found here.
4. To change sound settings, go to the top of the page and click on “Settings” and then “Sounds.”
5. If someone posts something that is very helpful, click on the little heart icon that appears when you put your cursor over their message. That gives that person “Karma” and the post then shows up in the “Favorites” tab.
6. To go to the off-topic room, click on “Chat Room” > “Off Topic.”
7. To see comments from before you entered the chat, click on “Click to load history” to the left of the smiley button. Note: this does not work in the “All in One” chatroom view.
8. To search for prior posts about a specific stock, enter the ticker in the “Ticker Chat History” search box in the top right of the chat window. You will then see a new column on the right side of the window with the stock chart at the top and below that any comments on the stock in reverse chronological order. Use this to see if someone has already posted the news on a stock.
Stock chat abbreviations
a/n — afternoon
b/o – breakout
o/n – overnight
pre or p/m – pre-market trading
a/h – after-hours trading
eod – end of day
e/r – earnings release
r/r – risk vs. reward
l/f – low float stock (very few shares outstanding, generally under 10 million, so these stocks can move a lot on low volume)
ss – short sell
l2 – level 2 stock quotes
hod – high of the day (not including pre-market data)
nhod – new high of the day (used when a stock has broken above a previous high)
52s – 52-week highs
lod – Low of the day (not including pre-market data)
nlod – new low of the day (used when a stock has broken below a previous low)
sup – support
res – resistance
red – a stock that is below its previous day’s close
green – a stock that is above its previous day’s close
r/g – a stock going from red to green
g/r – a stock going from green to red
perking up – stock is starting to move up a little off of consolidation
ph – power hour, the last hour of trading (3pm to 4pm Eastern)
mm – market maker
cp – Centerpoint Securities
ib – Interactive Brokers
tda – TDAmeritrade (They own the trading platform)
stt – stockstotrade
das – DAS Trading Software
Common chat abbreviations
afk – Away from keyboard
idk – I don’t know
iirc – If I remember correctly
imho / imo – In my (humble) opinion
ttyl – Talk to you later
bbl – Be back later
lol – Laughing out loud
pm – Private message
tia – Thanks in advance
ty – Thank you
yw – You’re welcome