Best Day Trading Discord Server in 2021: Trade Stocks, Options and Futures
The way how people trade changed since the introduction of zero commissions for U.S. listed stocks by all leading brokerages. More and more investors start trading actively by following trader communities closely. Especially the popularity of Reddit forums and Discord servers grows from month to month. In this article, I introduce you to my favorite day trading discord servers and day trading communities, to help you discover the best day trading secrets.
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About Day Trading Discord Channels
The rise of zero commissions trading and the global lockdowns led to a never-seen-before demand in day trading-related topics. In addition, with more and more people working from home, day trading the most volatile stocks became the go-to investment strategies, especially for young people. Discord channels are among the most popular places for investors to chat and interact with others. We often see high volatility in low float stocks discussed in discord channels and Reddit forums, especially during the premarket trading. That’s because there is no limit up or down outside the regular trading hours. But what discord servers are best? Let’s have a look at the best ones.
1. Black Box Stocks
The Black Box Stocks discord server offers live trades, high-quality educational material, and a fantastic community of traders. The main benefit of the discord channel arises based on the combination of the channel alongside the momentum stock screener, unusual options activity scanner, and the private Twitter group.
Once you logged in to the BBS web platform, you’ll find the link to the day trading discord server on the right side of the screen. Login to discord, add the BBS channel and request access. The moderators will check if you are an active subscriber before they accept your member request. The discord channel is separated into 11 different sub-channels, and I will tell you more about them later in this article.
The BBS algorithms spot the hottest momentum stocks in real-time. You can follow a top 10 list and apply the stock symbols directly to the chart window. You can use drawing tools, trading indicators, and time frames from one minute to monthly charts to visualize price action in the way you want. The real-time data is also included in the monthly subscription.
The options activity scanner is another excellent tool that is included for members. Here you can find dark-pool-trades, unusual options activity, sweeps, and block trades. Everything is color-coded, and you can filter trades in the way you want. In addition, the weekly Boot Camp webinars show you how to utilize the tools. Finally, the Trading Boot Camp is about stock- and options trading. Each week BBS educates users in webinars. You can also join their private Twitter groups.
Once you joined the community and your access was granted, start with announcements in the onboarding section. There you find the links to the most recent webinar recordings. Teresa posts them every week once the new recordings are online. Especially if you join at the weekend, those videos give you a kick-start for Monday.
2. Bear Bull Traders
The Bear Bull Traders stock discord chat room is an addition to the web-based trading chat room where Andrew Aziz and his team members stream their trading platforms in real-time.
Bear Bull Traders primarily focuses on day trading education and live trading. The new discord room expands the reach and makes the community even stronger. This makes Bear Bull Traders an excellent alternative to Black Box Stocks.
Trading experts moderate the stock chat rooms every trading day, talk about their current trades in real time, share their trading screen, and interact with chat room members. The chat room is great to see how experienced traders interpret the market and execute trades based on their trading strategies. In addition, they stream stock scanners, trading stocks mainly in the first half of a day, and use the desktop screen share to educate.
You can connect to the chat room with their internal web-based solution or use the brand new Bear Bull Traders discord day trading discord chat room.
Bear Bull Traders primarily helps you learn to identify stocks to day trade based on catalyst research and technical analysis. A watchlist is created every day. This service is mainly for people having the intention to learn how to day trade.
Andrew Azid, best-selling author of How to Day Trade for a Living: Tools, Tactics, Money Management, Discipline and Trading Psychology and some of his team members share their trading screen and talk about their entries, exits and performance.
Earn2Trade is a funded trading account provider for risk-free trading of futures contracts listed on CME. Risk-free because traders do not need their accounts to start trading. Instead, traders go through a qualification program and get funded by Earn2Trade if they are successful.
Earn2Trade started a discord server in July 2021. You can chat, share your experiences and explore the futures markets with other traders. So, this discord server is not for stock traders to explore stock alerts. Instead, it is specifically designed to help future traders.
During trading sessions, members can share ideas, ask questions and interact with other traders. Joining Earn2Trade’s discord server is especially helpful for traders at the beginning of their trading journey.
Wallstreetbets is the Reddit trader community that initiated the hype of Meme stocks in 2020 with never-seen-before volatility and price spikes in stocks like GME, AMC and BBBY. The Wallstreetbets community still keeps growing. Meanwhile, the Reddit forum has 10.8m members, and the official discord channel counts 600,000 members these days.
The type of stocks discussed at Wallstreetbets changes from time to time. Currently, NFT stocks are en vogue, but this can change fast. Like with all other discord servers, you have to be careful when following huge groups of investors. Especially free discord servers have to be explored slowly to gain experience first. That’s part of the game in any forum and community. You should always keep in mind that someone might try to influence the stock prices when posting trades.
5. Dumb Money
Dumb Money was founded by Dave Hanson, Jordan McLain and Chris Camillo. They say that they are just like you and found a way to turn $30,000 to $30,000,000 by making use of Twitter and a zero commission trading account.
Dumb Money currently has 85,000 YouTube subscribers and a Twitter account with 25,000 followers. In addition, their discord server presently counts 45,000 members.
6. Boiler Room Trading
The Boiler Room Trading community is robust on YouTube, with over 175,000 subscribers and daily video updates. The person behind the brand is Connor Pollifrone. Connor also has a website hosted on teachable where he sells day trading courses and promotes various scanners.
The discord server by Boiler Room Trading currently has 60,000 members, and you can join it here.
Day Trading Discord: Conclusion
Discord offers a great way to connect with other day traders, but trading profitable while following hundreds of traders on discord can be challenging. The chances are that you jump from one trading strategy to the other, follow the wrong people, or end up overwhelmed on your computer without knowing what you are doing.
So, discord only plays a secondary role on your path to become a profitable day trader. On your way to an independent trader, you need more than just following the crowd. You need to invest time, and you need to start with simulated trading. The combination of education, screen time, simulated trading and a solid mental attitude are the key to success.
Is it worth it to use a stock discord chat room?
Yes. Stock discord chat rooms are an excellent place to start interacting with other traders, especially if you are a beginner. Trade ideas can be exchanged, and market perspectives get discussed. It is a good idea to use a free trading simulator in the early stages of trading. Following the moderators is the best way to go at the beginning.
How much does it cost to join a day trading discord chat?
Using the discord app and web-based application is free of charge. However, the day trading discord chats are often bundled with access to more advanced tools like stock market scanners, trading tools, or educational material.