I started a penny stock chat room a couple weeks ago. So far it has been a success, with some good alerts in chat, helpful commentary from some good traders, and a large number of traders in chat (the high was over 90 and we have had more than 60 at most times!).
However, I have decided to leave my chat room. Simply put, Tim Sykes gave me an offer I could not refuse to moderate his TimAlerts Chat. Taking him up on the offer was an obvious choice, especially considering that I and many of the people in my chat trade the same stocks he does and thus want to discuss what he is doing. So as of tomorrow, that is where I will be during the trading day. This will make the TimAlerts chat a worthwhile place for traders to see what is moving in the markets and to learn from other traders. With my moderation there will no longer be distracting off-topic discussions. The addition of a moderated and thus more useful chat makes TimAlerts an even better deal. (I’m a lifetime TimAlerts member.) Frankly, I think the chat alone will be worth the price of TimAlerts.
I hope I see you in the new chat tomorrow. If you do come, make sure to read the rules below. Please note that the rules may change and the official rules will be on Tim Sykes’ website (I’ll link them when they are up).
Rules for TimAlerts Chat
1. Be polite.
2. Tickers are to be typed in CAPS. Stock chat abbreviations can be found below (and should never be in CAPS). There is also a list of general chat abbreviations below.
3. Stay on topic during the trading day; keep to stock alerts and brief discussion of potential trades. Feel free to chat about anything after trading hours. If you wish to discuss something random during the trading dayyou can create a new room in chat for that.
4. Colors, bold, and italics are reserved for the chat room administrator (Reaper) and Tim Sykes.
5. No pumping or promoting stocks or bashing stocks. If there is relevant news, research, or price movement, then post it. But do not say things like “Come on SIRI!” or “XXX is a fraud.”
6. No stocks under $0.10.
7. If you give an alert, give a reason; don’t just type the ticker. For example, instead of typing “ECOB!”, type “ECOB dropping like a rock!”
8. No stocks that aren’t moving or don’t have interesting charts. Avoid mentioning higher-priced stocks (those over $15) unless they have a lot of momentum.
9. Please no random questions to Michael Goode (Reaper) or Tim Sykes (TimothySykes) during the trading day (i.e., “What brokerage do you use?”). Send an email or search their blogs. It is okay to ask their opinion about a stock.
10. Do not send sounds to chat during trading hours.
11. 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.
12. Ownership of and responsibility of the comments made in the chat room remains with those who type the comments. We (Bullship Press, Timothy Sykes, and Michael Goode) are not responsible for the statements of those who make comments in the chat room. We reserve the right to gag, kick, or ban anyone from the chat room for any reason whatsoever.
13. We (Bullship Press, Timothy Sykes, and Michael Goode) are not financial advisers. We do not give financial advice. We cannot tell you if you should make a trade. All traders need to make their own decisions about what and when to trade.
Helpful hints for using Parachat
1. To send someone a private message double click on their name.
2. To go to a different chat room (such as the offtopic chat room) click on “Roam” at the top of the chat box and then click on “Room List”. If there are no other rooms, create a new room by clicking on “Roam” and then “Create Room.”
Stock chat abbreviations
adr – Average daily range of a stock over a number of days (the larger the number the more volatile the stock). Thi
b/o – Breakout
o/n – Overnight
e/r – Earnings release
ss – Short sell
hod – High of the day
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
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
pre – Pre-market trading
a/h – After-hours trading
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
ty – Thank you
yw – You’re welcome