FibMaster forex chat. [Archive]

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FibMaster

09-04-2008, 09:32 AM

I'd like to schedule live on-line chat sessions in the near future. You can help by providing some input and suggestions. Here are the questions that come to mind when I start to think about future chat sessions...

How to have more people attend? It's very time-consuming to have a chat session, and disappointing if there is only the regular small group of attendees. This is the biggest challenge, to make it worthwhile for my time and effort. I enjoy the interaction, but I also enjoy spending my time on many other interests.. If there is a larger group, I feel my time is well spent.

Should chat be available for non DailyForexCharts subscribers, and how much to charge them? How to charge for chat (per month, per chat)? How much?

Should the chat sessions be free, a marketing effort to attract more subscribers? Should it instead be free for paying DailyForexCharts subscribers only? Is the chat a revenue project, or just more time that Neal gives away since he has so much boredom and nothing else to do (haha!)..

How frequent to have the chat sessions? If they are infrequent, there will not be a regular following/community.

What should take place in chat? What do you want to get out of a chat session? Should there be structured lessons? Or just random conversation? Just chart analysis and trades?

What time of day should the chat take place? Should the chat room be open 24 hours a day or just certain hours? Should I be sitting at my computer for the hours when no-one is there to participate? How to arrange the time schedule, since there are traders all around the globe..

Please post your ideas/suggestions below. I appreciate your input.

lori

09-04-2008, 11:49 AM

i'm so glad u asked! this is what i think personally...i would love to come to chats (i'm one of the regulars). and i dont want to be charged anything either (imagine that...)
for me, chat is something i look forward to becuz i always learn something, be it from neal or one of the others there.
i'd like to see some real trading going on there--even if theyr just simulated trades. they would need to be very short term trades, i understand, but the same principles would apply..
i also like the interaction w other traders. (these ppl r so darned interesting!)
since we learn more w more ppl contributing--i really wish more ppl would attend as well. if it were free, maybe more ppl would????(somebody back me up here!) if idiots show up--just ask them to leave.lol.
i understand ur time is important to u, and i do appreciate all u do, so maybe just 1/2 day every month or so. those r my thots on the matter for now. maybe i'll add more later. i hope ppl take this opportunity to post here what they think..JUST DO IT!!!!!

reinoldjudith

09-04-2008, 12:38 PM

ownshook

09-04-2008, 01:18 PM

Should chat be available for non DailyForexCharts subscribers, and how much to charge them? How to charge for chat (per month, per chat)? How much?
There are many online chats (actually nobody can speak but the mod..they can type however) that do not charge a dime but use that audience to highlight their goods i.e. your chart updates, other videos. I think it does not have to simply be for subscribers.

Should the chat sessions be free, a marketing effort to attract more subscribers? Should it instead be free for paying DailyForexCharts subscribers only? Is the chat a revenue project, or just more time that Neal gives away since he has so much boredom and nothing else to do (haha!)
Partly answered above. While nobody can answer the question about being a revenue project for you, to be classified as such sort of takes the "mentor" mentality away. I guess it all depends what you are in this for.

How frequent to have the chat sessions? If they are infrequent, there will not be a regular following/community
Just like working out, consistency is important. I have noted on the forum that there are the usual handful posting and I wonder if you can use that as a gauge of interest. I don't know the answer to that and quite frankly, the times in the chat when it was you and I alone really lacked stimulus from others. I doubt you want to have that and as a participant, questions from others sparks the chat.

What should take place in chat? What do you want to get out of a chat session? Should there be structured lessons? Or just random conversation? Just chart analysis and trades?
Repetition is the mommy of skill. For me, watching you go from a blank chart to a fully analysed one awaiting a trade is very educational. Even better would be live trades much you have done in the past.

What time of day should the chat take place? Should the chat room be open 24 hours a day or just certain hours? Should I be sitting at my computer for the hours when no-one is there to participate? How to arrange the time schedule, since there are traders all around the globe..
This is a tough one. Surely the chat should be when there is market action but at the same time, traders come from all over. We all know when the bulk of the action takes place and not sure how you would arrange for that.

Michael

09-04-2008, 04:58 PM

Neal, you could organize a private chat room for your service subsribers using skype. This could help all your subscribers discuss more on the your updates and help each others with trading.
You can drop in anytime to chat and guide us more to help us bank in more pips. At the meantime, we could chat anything in interest while waiting for the market to take action.

Llamedos

09-05-2008, 06:32 AM

Hi all

Well Neal – you know what happens when you ask for comments..........I just can’t resist.

From what I can see there are a number of permutations as to how you could set up this thing and I think the simplest way to answer your question is for you to decide what it is you want from the proposal.

To get the silly part over and done with...............If you are bored and lonely and are just looking for people to talk to, then throw it open to all and sundry – and make it free.

If you really want to go the whole hog, why not give us your personal phone number and we can call you. Or post up your address, buy a whole lot of tea and biscuits (chocolate ones please. I’m allergic to plain) and we’ll come around for the afternoon!

You’ll never be lonely again! :D

OK, now I’ve got that out of the way, let’s look at this seriously.

You’ve worked hard to get where you are and to learn what you know. Therefore, I can’t see anything wrong with expecting something for your efforts.

However, as Ownshook rightly said, there are a number of ‘free’ chats on the web that are little more than marketing tools for their products. I like that sort of marketing – but more on that later. Plus, I think that you’ll need to be a bit different in order to stand out from the crowd.

On the other hand, if you blanket charge for entry into the chat, you’ll find more resistance while trying to attract new people into it – especially those who are newbies to Fib. As a consequence you likely end up with the same old (not that there’s anything wrong with being old!) crew with little or slow expansion on the numbers. :(

You could, of course, try offering a cheap taster much as you do at the moment with your Forex updates. As to how successful that may be is better gauged by you looking at the conversion figures you already hold.

For me probably the best suggestion so far has come from Michael in that you organise a 2-tier system where you have a freely available chat room and one that is exclusively for members. The logic and detail are as follows –

One thing that you must remember is that I never been into one of your chat rooms and so I don’t really know what can be achieved in one. The following is on the presumption that the ‘chat’ would consist of the ability to chat (type) in real time as on Skype. Also the ability to show or send pictures of charts to all members of the chat. This so as to make explaining concepts all the more easy. I guess this too could be done using Skype.

Obviously you can play with this and fine-tune it as much as you want. But here goes.......

With a 2-tier set up you can teach and field questions from the attendees while the markets are quiet. By using ‘old’ trades that are no longer in play, you can show what is available on the premium chat.

As and when you can see a trade approaching you could inform everyone on the public chat that there is a trade about to happen and that you need to go over to you members chat for a while and that you’ll be back later.

This will create a ‘fear of loss’ in the non-paying attendees. It’ll drive them mad. :mad:

And even more importantly, it’ll give you an opportunity to establish your ‘street-cred’ with the non-paying attendees.

Another thing that would need to be established is – what is the deal on the fees? Is this going to be a part of your existing email update service? Or something separate? Or a bit of both.

If it were given to subscribers of your updates would make it something extra for nothing but also another reason to subscribe $99.95 per month.

Whether or not it is to be included in the updates or charged as an addition, it should be done on a session basis. Notification that a free session is planned for tomorrow being emailed to all interested parties the day before. Whether or not this free session will result in a trade will not be known until the time.

If the opportunity to trade does occur, you can offer an instant payment system via Paypal. Watch the Paypal site fizz as soon as you announce on the free chat that you are going off to do a live trade.

We have all had the emails and seen the Google ads that say ‘Make millions while in bed with my simple system’. And then, just as soon as you join up – it starts losing. Gosh, would ya believe that? :mad:

But by saying that you are leaving the chat to attend to a trade and then, once it’s closed, using it as a teaching tool for the (free) attendees who missed out on it at the time. Fear of Loss – confirmed after the fact – ouch!!

With regard to the time at which you need to be at your computer. Well, you do as you’ve always done – you choose. You know if there is a likely trade coming up. You know if you are going sailing tomorrow. Just let everyone know by email. The registered (free) attendees can be there if they can. If they can’t, tant pis! What do they expect for free? As to potential paying members, they too will make it if they can. But, if they can’t, by making it pay per session they won’t get irked if they miss it. It will also avoid them needing to ask the same question every month. Did I get value for money from my last monthly fee? Pay as you go is by far the best way.

If you also make a recording of the chat session available for later reading it will act as another marking tool. It will show the ‘late’ readers, and those in different time frames what they are missing. And while many of them may not be able to make it to the live chat sessions, they may be encouraged by the quality of the information, to subscribe to the updates.

There ya go. A business in a box!

FibMaster

09-05-2008, 09:25 AM

Lots of great ideas. Keep them coming. Thanks everyone!

blink

09-09-2008, 11:55 AM

Hello to all from the veeery wet UK, which immediately tells you that any USA timed chat sessions are going to range from late afternoon to the late early hours for me, so what I say could be rather academic, unless I'm not at work the next day. Then again, if I'm not at work, the end of the Asian forex session is the start of my trading day at the moment - about 0630 UK time. Can always be bumped for the better good:-))

I don't know whether Neal trades full time and if he does how long he spends in front of the pc actually trading. If he spends a lot of time in front of it, perhaps consideration could be given to a 'live trading room'. I'm in one here based in the UK, Phil Newton's - a very successful full time trader. He has a web site on which he posts daily videos of his morniing potential setups along with other stuff and the odd post from others - the videos also go on U Tube, I believe. He does a session on FXStreet on Wed morning UK. He started the web site and room as a hobby between trade setups, but soon found people interested in it. There are still people in the room a year later who don't trade 'a la Newton' cos they like being iin there. I'm not sure that Phil's way of trading is me, (can't help breaking Phil's rules by hiding my stop behind an adjacent fib:-) )but so far it has been an absolutely invaluable experience, experiencing the ups and downs of a trading week with Phil and a few others from novices like me to old hands. Believe me, it's genuine as we witnessed in June! As Phil trades full time, it's no problem for him if there are 3 or 23 people in the room with him dipping in and out as commitments permit - if it goes quiet he occasionally just checks to make sure he's not talking to himself:-)
To give an idea, part of his web site is free, part is subscription and the trading room is a few bob more each month.

Walking down from a live trading room, I'm not sure exactly what a chat session is, but for me it would be for learning. Not being a generally chatty person, if it's general chat it wouldn't be much good.
I am a very visual and 'learn from experience' type of person. You can spout specific instructions at me forever, and eventually you'll give up. Show me how to do it, do it with me and eventually I'll be able to build on the basics myself. Translated, this means that ideally, live trading would suit me. If it's not live trading, walk throughs of real life scenarios or real trades is 2nd best. In a 'chat' or trainign session this could be a real past setup walked thru by the chat room members in real or slow time to the trade's conclusion or maybe no trade at all. Another type of 'walk through', could be a wmv style recording of the charts and the audio of Neal and others 'talkng' the trade - their reasons for the setup, their thoughts out loud etc and the pleasure or pain of the profit or loss etc. You can get an hour or three of video on a relatively small file these days.Of course, experiencing set ups that fail is as valuable. *Not* idealised set ups or trades, but real trades. Idealised trades are for training manuals.
I suppose any sessions headed by a real person would need to be at specific times targeted at the bulk of the members. A minimum no. of participants could be stipulated? Prerecorded stuff could be by subscription or partly tantalisingly free, available any time. Publicity via FXStreet seminars or similar, U tube. The public sessions like FXStreet would be the 'free' live sessions to help attract others.

Oddly enough, I think genuine people (in this case traders such as Neal, Joe DiNapoli, Phil Newton) as opposed to the flash conmen and gurus naturally attract genuinely interested people rather than the loud, brash bullshitters - or catch them out quickly - so ironically, these message boards and probably chat rooms can be rather reserved.

To sum up for me -stacks of examples of real trades with talk throughs either live or pre-recoded with the opportunity to discuss either on a board or chat would be my ideal. Could even run thru the odd pre-recorded one 'live' - if you see what i mean.

As the boards are quite quiet - how about shrinking the number of them to one or two? A general on topic chat board and another off topic one for the odd rant or corny joke?

Nothing to do directly with chat (an no offense meant here) - perhaps bring the training course up to date out of the lotus software era would help impressions as it's very inflexible and scratchy s/ware

Ok - I've waffled enough.

Cheers.

Graham.

Lifesong

09-10-2008, 02:05 AM

From what I read it seems that the real challenges facing you (Fibmaster) can be summarized into how you could attract more/new traders (expanding your endeavour) and what you could offer to subscribers. Hope this would help with some guidance as to the way forward.

LIVE TRADING ;)
I believe that you should perhaps distinguish between what you offer to “loyal” subscribers and what you offer to newcomers. Considering live trading sessions it could be beneficial to have one for subscribers and another one for newcomers.

The newcomer session should be used as the attraction to get new blood, because your successful trades will lead to credibility. For you to succeed in this it would be more appropriate to have a one hour session during active market hours and perhaps the US open could be considered 'cause it’s during the time when most forex traders are active. (hopefully you’re an early morning person and could be wide awake between four to six your local time -HAHAHA). The obvious challenge here is to do it in such a manner that new traders will realize that you have a reliable trading method without sharing everything with them during this session. In light of this perhaps trading the five minute charts will deliver the desired results. As you know you have spent many years of trial & error, continuous learning, blood sweat and tears, and many hours to achieve the level of expertise you are at!! For newcomers to comprehend your trading method, etc. they should be enticed to purchase your educational videos and subscribe to your "dailyupdates" because nothing in life is always free!! I also think this should be a free session after you’ve done extensive marketing (with support of subscribers) through websites, e-mails, etc. to have as many attendees as possible. This activity should be used as a marketing tool to attract new blood and your focus should be on trading the charts with minimal response to questions by attendees.

As part of your support to subscribers I would also like to see in a live trading session tailored for subscribers where the emphasis is more on how you plan your trade setups, the thinking process you work through (determining the trade trigger, stops, profit targets, etc.) and having fun together. As I’ve said earlier the only time this will be effective is during active trading hours because it will offer the most volatility and trading opportunities. Perhaps consideration to this session should be have a few hours set aside

CHAT SESSIONS:eek:
My personal view is that you should limit chat sessions mainly to subscribers or have it as a “pay as you go” service. These sessions should be scheduled for the quieter trading times and that in my view is generally after UK or NY close till Asian open (suggested times 18:00-24:00 GMT) The frequency of these sessions should be made weekly with subscribers interacting and Fibmaster joining when available and for limited times if necessary. If these sessions take place on a weekly basis I believe some parts of it can be allocated to general or random discussions with the majority of time spent on chart analysis, trade setups and educational issues. I believe it would also be beneficial if subscribers issue specific discussion topics in advance and how about sharing our failures with each other to learn from mistakes made. Other discussion topics could include “soft issues” like compiling trading plans/rules, how to calculate the risk/reward of specific trade setups, how do you determine that your analysis was wrong and you have to exit the trade, etc. In a certain sense I find that you are offering a lot of trade setup advice & analysis with your “dailyupdates” but there are many other matters that I would like to learn from your years of experience and from other subscribers. It happens so easily that we always focus on the mechanics of trading without realizing that perhaps the most difficult challenge is how to deal with the “soft issues” like emotions, sticking to the plan, money management and endless other issues!!

That’s me for the time being and looking forward to your latest chat schedule!!:p

tradebetter

09-10-2008, 09:39 AM

Hi, Fibmaster, to you, I am a newcomer, but I did perchased your videos for fibonacci, and I am so glad that I bought them, they definitely helped improve my trades a lot and a lot, and since you've mention to host a live session, honestly for a new comer like me, I am ok with a little bit charge of it, sice like everyone else says that you worked hard to be where your are now, and as your client(since i bought your video), I will be in a role of student, I pay and learn, reason I suggest to pay a reasonable fee is because: (1). I am a university student, I am able to pay a reasonable amount of money but not a "big" money(I have some friends in different universities do Forex as well, we have a forex group too hosted by University of Toronto) (2). At the time I pay, I want to actually learn from you like what I did from your videos, because I noticed from long time ago, a lot of "proffessional" traders who publish books, or produce seminar, and then they make those material for free, but they didn't teach at all, instead, they just do the UNECCESSARY TALK throughout the whole book or seminar or they teach you how to ignore the important part of the tools (for ex. they tell you to ignor the chikou span in the ichimoku system when if anyone use ichi, they should know chickou is a very important part of that indicator), which wasted everyone's time, therefore, I strongly recommend to pay a reasonable fee that everyone can afford, and learn the "REAL" stuff. Lastly, please forgive me if I used my words in a more negative way, but in fact, i have no offence, and these are the truth for traders who want to learn-- "PAY AND LEARN THE STUFF THAT IS USEFUL". Thanks.

tradebetter

tradebetter

09-10-2008, 09:52 AM

Additional opinion to the above, I wonder if it's possible for you to record the live learnig seession so that even though if i can't attend since i need to work or so, I can still go check it out when I am available, so I won't miss every single one, I guess it is same for other trades as well since they have their day time job. Thanks again.

tradebetter

Hussam

09-13-2008, 07:09 AM

Hi Neale,

1) Not too many attendees. I see it more as private live seminar where we can bring up some of our serious trading issues / problems in a live scenario.
2) Preferably by phone.
3) Charges : people would gladly pay if they are confident to get value. You are known as a proffesional with high integrity. So, no problem with charging (but who wants to pay ?? ha ha).
4) Frequency : twice a week.
5) Duration : One hour, to get a chance of finding a trade.
6) Time of the day : Before 13 hrs EST (19 GMT). Forex markets "usually" go quite after this time.
7) Ideas for the chat session :
- Find a chart / currency pair that is moving
- Select best time frame for that currency pair
- What is the set up we are looking or waiting for
- When to enter / trigger
- If there is no entry or a trade, why ? what is missing ? Is it better to leave that chart for the next day or even later ?? It is important to learn what NOT to do. It saves a lot of money.

I believe these are questions that go through the mind of every trader, especially beginers, like me.

All the best for all our friends here.
Hussam.

FibMaster

09-19-2008, 11:55 AM

Thanks everyone for the great feedback.

I'm finishing up some projects on my boat, and plan to start this chat project in the coming week or two. Hang in there, it will be worth it!

Rae

09-21-2008, 11:01 PM

Hi Neal
I am a newbie FX trader. Just came across your site while researching FOREX.
Free sessions 2 per week, 30 to 60 Minutes would be a great way to attract new traders and subscribers. Your existing subscribers believe in you. You need to convert the "sinners".

FibMaster

09-22-2008, 09:51 PM

Good feedback,

How would the sinners hear about me? Would it be more successful than these forums? I'm already here on the forums, more than twice a week...

Hussam

11-15-2008, 05:39 AM

Hi Neal,

Any development on the live chat project ??

Thanks & regards.
Hussam.

Llamedos

11-16-2008, 12:24 AM

Hi Neal – seems like Hussam has brought this thread back to life. So how is the ‘live chat’ project coming along?

Regarding your question in #15, unless you are prepared to spend money on Google Adwords I think the simple answer is that it will be a long, hard grind that will take time to build up. I am sure it will be exponential but it will take time nevertheless. But once it’s built, your profitability should hold the faithful.

And that, in part, is the answer to your other question - ‘what would make it different to this forum? By that I take it you are rather disappointed by the lack of members, posts or level of use that this forum has; something I have previously commented on in ‘my thread’ over on the Futures & Minis forum.

Therein lays the glaringly obvious difference if I may be so bold.

Forums that look like this are 2 a penny on the web. But looks aren’t everything and we come here because we know that and have a belief in the usefulness of Fibonacci and the way you teach it. Most of us are owners of your instructional videos, myself included. And so we are the converted and are unlikely to go elsewhere to chat as this is ‘home’.

But trying to get that across to the newbie is not easy. In most cases they are spoilt for choice with so many look-a-like forums all promising the same thing. Added to that is the fact that they probably don’t really know what they are looking for anyway. :confused:

And in a nutshell those are the reasons why this forum isn’t as successful as you (and we!) think it ought to be. In the main it only attracts and keeps the converted. All the other traders out there, including some Fib fans that should be here, will have their own favourite forum that they visit regularly. It probably isn’t that different to this one. It’ll have some old git chuntering on about almost anything and poking his nose into every thread. And often that same old git will have his own thread. You know, the one he’s monopolised where he (ir)regularly posts on something totally diverse to the subject of the forum. A bit like the old drunk in the corner of every bar in town. Everyone knows he’s there and are aware that he’s talking. But in reality nobody is listening. And anyway, he doesn’t care. He’s old and past worrying what others think about his ramblings. ;)

Occasionally there will be threads like the one that Toyogo00 started where a few pearls of wisdom fall from your keyboard. But the problem is, the neophytes don’t or can’t recognise them for what they are. And so carry on to another forum ever looking for that perfect method.

Sound like anywhere you know?

But the live chat is potentially a different matter.

On a live chat you won’t just be ‘showing the how’ like you do on these pages. You will be actually ‘walking the talk’ in real time and the subscribers will be getting a piggy back off you and profiting from the experience by copying your trade.

The ‘how’ of this I have previously outlined in my other post (#6) and so won’t go into again here.

The promoting, like I said earlier, will either come from spending money on advertising. Or by grinding your way along, building upon each success with another success. I am sure it shouldn’t take too long for the word to get around that for $10 a pop you can not only watch over the shoulder of someone with 25 (?) years experience, but you can also make the same trade as him at the same time and make back the cost of the seat many times over in the process. :D

Sounds like a no brainer to me!

toyogo00

11-16-2008, 08:36 AM

Hi,

I am a businessman before I become a full time trader. Thus I believe it is very important to draft out a "real" business plan for what you want to do.

a. Objective: Is it to help more traders to become successful? I know a successful trader who trades 200 std lot or USD2000 per pip with only EURUSD pair and earn millions per year who is only interested to help more traders rather than profit from educating traders. However, he still charges a small amount of membership to ensure that they are committed. I believe you are another person like him as you can certainly make more (a lot more) money trading on your own as compare to selling the dialyforexcharts or videos. Thus you have to establish your objective clearly to attract people. (Woodie CCI Club is one of the typical examples). I believe the dialyforexcharts has taken up a lot of your time, I would suggest you only do it for few major pair rather than all.

b. Plan: How to go about it and set a target of how many new comers to attract per quarter (3months) and to retain the successful traders. You also need a lot of helpers (Woodie CCI Club has a lot of helpers – their slogan is “Traders help trader”). To be frank, I believe a lot of new comers who never buy your videos on basic Fibonacci study; TRSI etc wouldn’t be able to understand your analysis when you present it on the live chat. Thus you could do two types of live chats; one is to attract new comers where you perform a live trade based on shorter timeframe (5/15/30min charts) for once a week. If they are comfortable with your trading method, then you shall encourage them to join as paid membership chat. In this way you can encourage more committed traders. This chat may be one or two times a week where you trade live based on the dailyforexcharts.

c. Format: I would suggest you use Woodie CCI method, only the moderator can speak and participants can only listen and write in to ask question. So you can get a lot of participants (WCCI has more than 50 people each time).

d. Marketing: Marketing tools are live-chat and forum besides standard internet email/adv. For forum, you can get more qualified helpers as moderators to help answering some simple question.

e. Payment: Most of the new comers are not willing to pay unless the method is proven and suitable to them. Thus you can offer each new comer who registered with 10 times trails (10 weeks) with very small amount of fee. They should be able to decide by then whether to join or not. If the method is suitable to one’s personality and proven to be a winner, I am very sure they will pay for the service. You should have a one payment (such as $99/mth) for all-in-one service; course videos so they can learn/understand your method; dialyforexcharts so they can analyze it; and live-chat so they can follow and master it. As they are certainly all committed traders!

f. Time of the chat: I think there are two time slots, one is UK session and one is US session. Generally US/UK overlap session is one of the best time (from EST 8am to 12pm). As a trader, we have to adjust our time to suit the market but not the other way. Thus we cannot suit all traders around the globe.

Regards,
Toyogo

toyogo00

11-17-2008, 06:57 AM

Hi,

Forums that look like this are 2 a penny on the web. But trying to get that across to the newbie is not easy. In most cases they are spoilt for choice with so many look-a-like forums all promising the same thing. Added to that is the fact that they probably don’t really know what they are looking for anyway. :confused:

This is the fact, so it is important to define the audience that you are targeting - a fresh newbies or newbies who have studied some technical but are searching for the right "Holy Grail".

One suggestion is to ride on other popular forum such as t2w or forexfactory, create a new thread (may call it "FibMaster Trading Room"), then start giving "free consultation" to mass audience. If they are convinced by the way to answer, re-direct them to your own website as they would be more receptive. James 16 threat is one such way to success... Of course, you need to spend sometime with the thread - you also need some helpers! Thus I think it would be important for you to build a team of competent FibMaster Traders to carry out such BIG project.

Regards,
Toyogo

FibMaster

11-17-2008, 12:21 PM

Thanks for all the great input. I'll check out t2w as you suggest. Am re-reading this thread to get the most out of the input.

There is a chance that I'll try chat again for a bit, before the holiday season kicks in. Otherwise I'll try it in January.

Unfortunately the number of serious trading students is quite small relative to the non-serious newbies. The bigger numbers and bigger payback for my time would be to hype the heck out of it, to suck in newbies who dream of easy riches with no effort and no risk. This is what happens most of the time in the trading world, and I really don't want any part of it. Goodness knows, trading is tough enough without someone misleading you with hype and BS.

If I don't hype and oversell, I won't be noticed in the noise of the internet, because that is what is out there mostly. So it's a difficult issue, getting noticed, and attracting the small number of appropriate traders.

Unrealistic dreamers are very dissatisfying to work with, there is no fulfillment there, just pain and slaughter.

Working with serious traders (appropriate expectations, risk control, and willing to work at it) is very satisfying, that is my focus.

I like the idea of giving subscribers great value in the chat room (very educational and helpful), and having a less detailed free chat room for non-subscribers.

toyogo00

11-17-2008, 10:59 PM

Hi Neal,

Thanks for all the great input. I'll check out t2w as you suggest. Am re-reading this thread to get the most out of the input.

Here is the link to James16 thread with millions of views and his website for your quick reference.

http://www.forexfactory.com/showthread.php?t=2331

http://www.james16group.us/

Regards,
Toyogo

Hussam

11-18-2008, 05:43 AM

Hi Neal,

I agree with you in giving subscribers "Great Value". From my personal perspective, this can happen if :

1) Only a small group in the chat room. Perhaps you can have several. I would not be keen on sitting with 40 or 50 people. It will remind me of the free webinars I attended on FX Street.com.
2) Hopefully they will be subscribers who have studied some or all your courses, or at least Fibonacci believers (as Llamedos said). Hence, we'll be talking the same language. Faster reward to subscribers and less headache fo you.
3) I studied all your courses, 18 months ago. Applying what you study takes time and experience. I can't think of better forum where I will be coached by my instructor. Unlike FX Street.com where you see different instructors, with different strategies and tools. I don't need that. Funny enough, I first heard of you in FX Street.com in the education section. I owe them one.
4) Being in a small group will have a price, which should make it worthwhile for you. I don't believe that a fair price will be difficult to agree upon. Only serious traders will know what they are getting for their money.

All the best to everybody.
Hussam.
P.S. I apologize for my limited contribution to the forum. I passed a period struggling with my trading (nothing that a live chat couldn't handle). I hope to be back very soon.

FibMaster

12-04-2008, 02:55 AM

OK everyone, I've been agonizing over this for a long time. Thank you for your great input.

I'm ready to try an experiment, to see if this will work.

For the next 2 weeks, I can dedicate some time to chat, but not 24 hours a day. Most of my available time is on weekdays, PST 9:00-17:00, which is EST 12:00-20:00, which is also GMT/UTC 17:00-01:00 though I can make some adjustments sometimes (by appointment).

To avoid me spending entire days tied to the computer, we can connect by appointment. Ideally, I'd like to be chatting with several traders at a time. We can arrange the appointments by email.

How do you participate? First, you need to be a subscriber. For only $9.95 you can try it for 2 weeks, after that it is $100 per month. I'm certain you will get more than $100 value from the chat in a month. (Wow is there any doubt?)
http://www.dailyforexcharts.com/subscribe.html

After 2 weeks, we'll know how many traders are interested in chatting, and how well the service is appreciated, based on the number of subscribers. Then I'll decide how to proceed.

I'd like to make this a success, and to help you improve your trading skills.

If you're serious about your trading, start a subscription at the above link right now. Let's get going with this.
http://www.dailyforexcharts.com/subscribe.html

.

toyogo00

12-04-2008, 04:22 AM

Hi Neal,

That's a good news. However, as I pointed out previously that it is best that you have a all-in-one package including all videos, dailyforexcharts and the chat. Otherwise, it is very difficult for participants to understand your chat (you may have to explain over and over again such as what is TRSI, SK level etc).

To start with, you may only want to offer to those who have studied the videos + subscribed to dailyforexcharts. I believe that will make the chat session more productive and effective.

Regards,
Toyogo

FibMaster

12-04-2008, 06:59 AM

Hi Toyogo,

The chat sessions have always been very productive and effective, per the comments from attendees.

If someone doesn't have enough knowledge to understand, they will be referred to the videos lessons so they can study more.

As all of my products and services are very reasonably priced, there is no reason for someone to avoid studying the videos. The cost is minimal, and the benefit is huge! There are already video combination prices on the website http://www.fibmarkets.com

FibMaster

12-04-2008, 04:07 PM

FYI, for those interested, here is a note that I sent to subscribers this morning. If you're not a subscriber yet, this is the time to join.

Important link for today;
http://www.dailyforexcharts.com/chat.html

Most of the forex pairs are stuck in a trading range, and have not
moved into our long/short zones. So instead of sending an update
today. I will do another check on Friday morning, and send one then
if there is any action to talk about. If you have questions about
any chart, send me an email, I'll try to answer in tomorrow's
update.

In more exciting news, you can join me live in chat next week!
Please see details at the following link, and send me the
dates/times that you would like to connect on-line.

This promises to be the most rewarding and revealing bonus you can get from your subscription. See details here;
http://www.dailyforexcharts.com/chat.html

-Neal.

.

FibMaster

12-08-2008, 04:05 PM

See this video about joining the chat room.
http://www.dailyforexcharts.com/charts/081208_chat/081208_chat.html