Live trading rooms are online chat rooms where a professional day trader trades live, while beginning (and experienced) day traders watch, ask questions, and trade (either live or in simulation) along with the professional trader. Trading rooms have many benefits to both beginning and experienced day traders alike. Beginning traders can learn and trade a new trading system with a professional trader available to help them, while experienced traders who may not need any assistance, can get companionship from interacting with other day traders (day trading can be a lonely profession).
Types of Trading Room
Some trading rooms are teaching only trading rooms, where a professional trader will teach a particular trading system but will not call out live trades. Other trading rooms are more trade oriented and will call out live trades but might not teach the trading systems that they are using. Also, many trading rooms are restricted to specific trading systems, while others are open rooms where any trading system can be discussed.
Charts
Most live trading rooms are setup so that the professional day trader speaks to the other traders via VOIP (Voice Over IP), and the other traders interact with the professional and each other via text based chat. Some trading rooms have live charts that all of the traders can see, while others show the professional trader instead (via a video stream), and each trader has their own charts separate from the trading room.
