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Stoolville Chat....comments Needed


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#1 Rockhead

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Posted 12 December 2002 - 08:29 PM

About a week ago, about 10 of us Stoolies tried the Stoolchat chat program that comes with the board's software. We used it for about 15 minutes during the trading day. Well, it didn’t work too well. Not everybody could see who was in the chat room, and the scrolling action of the board wasn't that great. The board also took up a lot of desktop space for what the program was showing. Too cumbersome. But 10 interested parties in 15 minutes weren’t bad. Thanks to those who tried it out.

I have talked with Doc and he has agreed to permit us Stoolies to establish another chat room for Stoolie usage. He has paired me with Anoscope for this project. Lucky me, unlucky for Anoscope! A better helper I couldn't find. Although I may have started this chat movement, I have a feeling that my computer and software incompetence will cause Anoscope to see it to completion.

Anoscoope has been able to find a chat program associated with the financialchat.com web site. The technical aspects of the chat program and system management are over my head. This may or maynot become the official chat program for Capitalstool. I know nothing else about it and cannot discuss it intelligently.

So, what's the purpose of this post? We need some feedback. As posted on IDS today, we need to get some input. We want to know....

1. What chat programs are your familiar with?

2. What are the security risks to using the various programs for the chat users? If you know of security issue with specific chat programs, please tell us.

3. Which programs are workspace friendly? We don’t want a big chat window loaded with ads as it simply takes too much valuable work space up.

4. Would you use a chat program? During the trading day? During non-market hours?

5. How do you see the chat conservation going during the trading day? During non-market hours?


So, please give us some feedback.


My thoughts on chat.....

Last night we set up a private, by invite only, chat room on Yahoo Messenger. Four Stoolies tested it out. Today, during the trading day, three of us utilized that Yahoo chat room. Posts came quite fast, misspelling existed and shorthand was used. Pretty looking posts they weren’t. No images were posted (can’t do that in chat). Links to websites were easily posted. Analytical comments were often posted several times in one minute on the same stock or market index when all were watching the same symbol. Bottom line, it was quite busy for just three of us being involved. This makes me think whether having 10 or more people in chat will be useful or not? I don’t know! All comments were short term, daytrade, or scalper stuff. We all still followed IDS and made posts to IDS as well.

I can see chat being useful for some and not for others. For those with a single monitor, it is one more window you would have to watch and may make things difficult in arranging your workspace. I run three monitors and it is already hell on me. The more people that would use chat, the less you could ask questions and expect them to be answered. It just gets too complex I think. I do not think the chat will be good for beginning traders. The reason…chat comments sometimes get posted just as fast as things happen in the market place, then all of a sudden, the expected result in that stock didn’t happen. I would hate for someone to take a position because I posted….”MSFT, 1 minute breakout” and then the move petered out. I think if you are using chat for trading, you better have confidence in your own abilities to spot and CONFIRM a move if such is posted.

Additionally, I enjoy chat simply because I am a lone trader. I sit at home by myself, often with a parrot on my shoulder, but without interaction with the human species during the trading day. That can be tough. Solo traders know what I speak about. It is nice to post a trade on chat and be receive accolades (as well as criticism) from your fellow room users regarding your trade. Chat can breakup an otherwise lonely day.

With the above being said, and until an official Capitalstool chat program is selected, any Stoolie is welcome to join our motley crew in our Yahoo chat room. The chat room we have established is a private, by invite only, chat room utilizing Yahoo Messenger. If you are interested in joining our pathetic little chat group please send a Yahoo Instant message stating "I WANT TO BE INVITIED TO STOOLVILLE CHAT" to yours truly at the following Yahoo ID: Rockhead_ids

I will then send you an invite into the room. If I dont respond within an hour during the trading day, send me another message or PM through the Stool network. More detailed directions on how to use Yahoo Messenger can be found on the LOB topic called......Yahoo Messenger.....Stoolville Chat. The instructions are essentially step by step on how to create a Yahoo ID/profile, how to save the chat room to your favorite room (you must do this otherwise you wont get back in without another invite). Please read the instructions if you wish to join the room. Again, this Yahoo Chat room is only a temporary chat room.

#2 Jorma

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Posted 12 December 2002 - 08:44 PM

From the far peanut gallery.

I have nothing to offer on a Stoolchat because I don't generate much technical stuff. I am ignorant of chat programs. So with that in mind and to throw a curve into the thinking, how about taking over a spot on the old IDS board and making it invitation only. I see the downside as you have to refresh all the time but can any chat program show charts?

Call me anytime for crackpot ill informed ideas.

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#3 Rockhead

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Posted 12 December 2002 - 09:31 PM

From the far peanut gallery.

I have nothing to offer on a Stoolchat because I don't generate much technical stuff. I am ignorant of chat programs. So with that in mind and to throw a curve into the thinking, how about taking over a spot on the old IDS board and making it invitation only. I see the downside as you have to refresh all the time but can any chat program show charts?

Call me anytime for crackpot ill informed ideas.

Jorma

Maybe I forgot post it, but the advantage of chat IS THE ABILITY NOT TO REFRESH all the time. Call it "streaming chat". For short term traders, its the next best thing to talking to the guy sitting next to you.

Additionally, we do not want users to migrate from IDS to the chat board. We want the IDS board to remain the focused board for intraday Stoolie conversation. Repeat.....IDS shall remain the main board. The chat board should only be used as a supplement to blast comments off your mind as if you were speaking to the guy next to you. Maybe this is a good example.........how many times have you started and IDS post, nearly completed it, and then scraped it? Hmmmmm? Those scrapped posts are the ones we want in chat. We want your ideas, observations, and insights as they stream off your mind.....right, wrong, possibly stupid or possibly the damn best entry for the day! The other chat room users are to decide whether the post is useful to them. You can also have sidebar (private) conversations with other room users.

Again, the chat room is for the short term traders during the trading day, or a place to hang out at night. I cant see it being used any other way. The long term traders would certainly not be interested in what is happening on a one minute chart, but IDS is sometimes just too slow for those who like to play the scalps.

If people dont want to use chat, simply dont use it. I dont think swing, intermediate or long term traders would miss much, but I am sure the short term folks would appreciate it.

#4 sniff

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Posted 12 December 2002 - 11:09 PM

Rockhead, I have mixed feeling about a chat room during market hours. I would not like to see Doc's fine group get to splintered.

I have been in several chat rooms. It seems many use mIRC . It runs seamlessly and one can add links within the chat. I have no idea what is involved setting it up. Anoscope or Bontchev would probably know.

Here is a link if you want to take a look.....


http://www.mirc.com/

good luck in your endevor

sniffy

#5 sniff

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Posted 12 December 2002 - 11:17 PM

forgot to mention that you can set up your iMRC chat with a password. So privacy and security is not a problem... traded with Trader Mike long ago and that is how his chat was set up.

#6 Pretzel Logic

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Posted 13 December 2002 - 05:04 AM

I agree w/ Sniff. I'd recommend an IRC based chat. Then people can use a relatively simple IRC client like mIRC, which is opened in a completely separate window and can be sized to whatever you like.

Just my two cents.
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Posted 13 December 2002 - 06:19 AM

First, let me say that I am not interested in participating in live chats - they take too much time and require constant monitoring. I prefer Web-based discussion boards that can be read at one's leisure.

But you asked about security and this is my field of expertise, so I can contribute something here.

Beware when using IRC clients like mIRC, PIRC, VIRC, etc. There are lots of viruses that spread automatically to anyone who joins and/or leaves a chat channel. To protect yourself, pay attention to the following:

1) If possible, do not accept any files sent to you, even if the sender seems to be somebody you know. They might be infected without knowing it and the sending could be actually initiated by the virus, again without the knowledge of the actual user. Most IRC clients allow you to disable file transfer or at least set it to "prompt", so that you can accept or refuse files on a case-by-case basis.

2) If it is not possible to refuse all file sendings (e.g., because people sometimes send you stuff you need), at least make sure that you configure your IRC client to put the files sent to you in a separate folder. Pay meticulous attention that this is not the folder where the IRC program is installed, where its configuration files are, the Windows folder, etc. It is best to select a special folder (e.g., "Downloads") which is not used for anything else. In the latest versions of mIRC this is the default behaviour - but it wasn't so in the earlier versions, so beware if you're using an old version! Before accepting the file, chat with the user who is sending it to you and make sure that (a) it is somebody you know and trust, (b) it is a human and not a computer program, ( c) s/he really wants to send you this file and (d) you have a pretty good idea of what the file is.

3) Make sure you have installed all Windows security patches that Microsoft provides. Visit Microsoft's Windows Update site and make sure that it is so.

4) Install an anti-virus program, if you haven't done so already. Make sure that your anti-virus program is up-to-date and download the latest virus definitions for it, if necessary. Make sure that its on-access scanner is running. Unfortunately, the different products use different terminology for these things, which tends to be confusing. For instance, NAV updates its virus definitions when you run the "LiveUpdate" and its on-access scanner is called "AutoProtect".

Regards,
Vesselin





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