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Free Stock Market Chat Room: Stockmeetingplace.com



In his popular E-book of the Atkinson-Guppy Articles 'Stock & sharemarket educational options for Investing Online & Onlien Trading - Opportunity for a home based business', John Atkinson wrote:

In late 2004, through Daryl Guppy’s newsletter (Tutorials in Applied Technical Analysis) Angela and I became aware of an excellent new chat room Stockmeetingplace.com which is operated by a group in Singapore. Their objective is to provide an independent forum, for the discussion of financial market trading issues. Daryl has agreed to work with them, exclusively such that if traders wish to ask him a question, discuss issues raised in his newsletter, or follow up on issues in his books, then they can post their questions on www.stockmeetingplace.com.

As an example of the wisdom provided from Daryl’s wealth of trading experience, a member recently posted this question on pattern trading which has also occurred to me previously on many occasions:

“If a stock is rising and a bullish pattern has formed and I have entered at a good price and the pattern expresses itself as expected, why would I exit at the target price? Why would I not move my stop loss up and 'Let my profits run'? I ask this because I have recently successfully traded a couple of patterns and exited at the target price only to see them continue to rise. Maybe in future I would be better raising the stop to protect some of the gained profit and treat the trade more like a trend trade from that point on? It would seem that I have managed to enter a high probability trade with a tight stop loss that is going my direction, so why fight it?

to which Daryl replied the following within hours to satisfy both of us and any other members with the same concern :

"Traders destroy a good system by trying to make it perfect. Pattern trading is about probability. There is a high probability of a defined outcome. Once the outcome is achieved there is no strong probability favouring any particular subsequent development. Some stocks continue up. Some fall dramatically, others drift sideways. Deciding the subsequent development is often guesswork and luck– a combination that is not recommended for long term trading success.

Pattern trading accepts that the pattern may be part of a longer term trend or development, and that you may therefore miss out on additional profits. It is a limitation of the approach. However, if you do not accept this limitation, then you are no longer pattern trading. Your trading becomes something different and you need to apply different identification and management rules.

Personally, I prefer high probability situations. I don’t aim for perfection. I am for profit."

Daryl has noted in his newsletter that he is confident that www.stockmeetingplace.com will develop into a premier educational chat room which will attract a quality group of people who genuinely want to learn about the market and assist others. That is why he agreed to exclusively participate in this chat room which has an educational bias where traders from around the world come to exchange ideas, swap exploration formulas and discuss trading techniques. He is active in several sections. If traders want to ask him a specific question, Daryl has advised that this is the best place to go. You will receive a reply from him and also additional information from StockMeetingPlace regulars, including myself. There are many solutions to any question and StockMeetingPlace taps into a wide range of trading experience.  

Visit Stockmeetingplace.com 


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