Live Forex Chat Rooms

Another great yet often overlooked tool to employ while trading forex is undoubtedly a Live Forex Chat Room where traders of all levels can come and talk.  This article I will describe some of the Forex chat rooms I’ve belonged to over the past few years.

First I’ll briefly discuss Chat rooms that I don’t think are worth your time. ForexTradingChat.com used to be a pretty populated forex chat room, but now it’s quite dead.  Nice domain but it seems like the other chat rooms I will discuss might be a better choice if you want to actually learn something.  Also, any chat room you have to pay for (besides a chat service like paltalk that charges for the software), you ought to avoid because it just does not make sense to charge people for access to a chat room with no guarantee of anything, rather, a warning there is no guarantee.  I remember Forex King signals and about 6 different “proxies” of that site which charged $900+ per month for access to a chat room where a guy would call off signals.  Who is this guy?  Why is this so much money?  Who has that kind of money laying around??? It’s just ludicrous.  I will enumerate a few chat rooms I belong to and know can help that won’t leave you broke before you begin.

PALTALK FOREX CHAT

On the other hand, Pal Talk Forex Chat rooms are really good.  There’s one chat room in particular called FOREX TRADER CHAT run by DOJI SAN.  I’ve been a member of a few Forex Chat Rooms on PalTalk and I must say there is quite a cross section of professional and beginner traders. There’s usually one or two “professionals” in there teaching you a thing or two about what is going on.

What I like most about this chat room is the fact that there is ALWAYS someone talking in there.  Usually 50+ people, 100+ during more active hours.  A few members take it upon themselves to constantly post useful news articles relating to currencies, governments, and other things that will affect Forex.  PalTalk is free up to a point, but it’s totally worth the membership.  I’ve gotten in at least 5 winning trades worth $1000+ thanks to the guys in the paltalk Forex chats so its 1000% worth it for me at least.

TOPGUN FOREX CHAT ROOM

TopGun Software also offers both a free Forex Chat room and a paid “Mentor” class chat room which I do not belong to. The paid chat room is a daily mentoring class that lasts an hour and is administered by Leverage FX software creators who have a strong understanding of the Forex market coupled with the goods on a really cutting edge piece of Forex Software. I can’t recommend either completely though, since I have not spent the $600 to sign up for mentoring, and only have been using the TopGun free chat room for about 4 weeks, and not too many people talk very often.When they do, it’s more reactionary, people talking about trades after they happen which is of no use to anyone except if you are trying to learn from them passively.  The traders in this chat room really know what they are talking about, but I have yet to get in a trade based on what they say.

CONCLUSION
I have yet to come across any purely “Professional” Forex Chat Rooms, so if you come across any, please share them in the comments below.