MyFXChat.com

Why myfxchat.com…

Do we really need another Forex live chat room? I wasn’t sure to be honest. I looked around and there were plenty of live chat rooms dedicated to one aspect or another of Forex, but I couldn’t find what I was really looking for. I liked various rooms I tried but I always felt that it just wasn’t quite right for me. Forex traders keep some pretty weird hours around the world and it is nice to be able to bounce a trade or setup you’ve got rumbling around in your head off another trader. I wanted a place where no one was pushing a particular concept or trading style. In other words… No Agenda! A place where everyone can share what they are thinking and everyone else can discuss it without making fun of or ridiculing it. In other words “check your ego at the door”.

A lot of the rooms I have visited seem to be dominated by a few individuals who take over the room. They almost gang up on someone if they ask that forbidden “newbie” type question or if someone has a different take on the current conditions. I’ve been to rooms where almost everyone is afraid to ask a question or voice an opinion for fear of being taken out by the established gang. Check it out sometime; see how many are logged on and then count how many are actually chatting.

I wanted a room where you can ask a question or even state an opinion about the market and not be attacked by the established gang. A room where there really are no dumb questions.  I know… they always tell you there are no dumb questions, and then when you ask one, and they ridicule you right out the door. Even worse, if you disagree with the moderator’s opinion you get told off, yelled at, and eventually bounced.

I would love a room where all traders can speak freely about their opinion of where they think the market is headed whether or not everyone agrees with that opinion or not. A room where you can make a call based on your own trading system and see how others feel about that particular trade. Basically, a community where we all benefit from each others analysis of current market conditions and get the chance to discus it without fear of reprisal. Then it is up to the individual to take the trade or not. The room itself is not pushing any trading style or concept.

So I decided to start my own room with my own rules and see if others felt the same way I do. Now this isn’t going to come together overnight, it will take some time to get the word out, but I really want it to succeed because I think there are a lot of traders out there like me that want to talk with other traders and not feel like they are threatened by the general direction of the room itself. For example, go to a technical analysis based room and talk about fundamentals and see what happens. The same is true for the reverse. I have seen people try to share a system or concept and get verbally beat up by one or more members because it doesn’t follow the general idea of that particular room.

MyFXChat.com does not profess to have the answers. We are not here to push a product or service. It is a community of Forex traders who while trading want to discuss trades, market conditions, news announcements and anything else that might help them become better traders. They may want to ask why the euro just jumped 25 pips and see who has a decent answer. They may want to get others opinion on the perfect place to short or long. It is a room where fundamental analysis and technical analysis are welcome, because I believe that both have their place in the market. It’s a room where the only reason you will get bounced is if you get abusive with others in the room. Share your opinions and listen to others. You can even disagree, as long as you do it with respect for their opinions. For me it seems to be the perfect set-up for Forex traders. I guess time will tell if I am right or not. Either way I think the journey will be worth the trouble. Welcome, and let’s do some trading!

To join the chatroom click on chatroom in the pages section to your right.

If you are new to Forex check out the Helpful Forex Links in the pages section to your right.