Are you a chat room stalker? Do you sign into the chat room but never post, you are only there to try and find out what the play of the day is.
If you are a new trader this might seem like a good way to start out, but it can be very risky for two reason's, one, the people posting have their trading planned out in advance and are just waiting for the best entry and are sharing with others that have done the same and two there are pumpers in just about all chat rooms and we know that all they are trying to do is get their tickers more interest in the hopes of raising it's price.
When used properly the chat room can be very useful in gathering information about tickers being mention and the feel of the market. But it doesn't replace studying on your own it's just another tool to use.
I'm not saying that if you are a new trader you should stay away from the chat rooms but just mind your P's and Q's and don't ask the room what the play of the day is or what everyone is trading. Those are the two most venomous questions anyone could ask when in chat.
One of the things you will quickly notice if you are new to chat it's kind of cliquey and you will most likely be ignored at first but don't let that dissuade you from participating. Just make sure that your comments are ticker related especially during market hours, the room on profit-ly is monitored and you can be kicked out for violating the rules.
I can honestly say up to this point in time I have never made a trade off of what was being talked about in the chat room but I do enter chat to see what others are looking at and if by chance one of my tickers is being chatted about I will monitor the chat in unison with my chart.
Twitter is another resource for checking out tickers in the search box place the $ before of your ticker and you'll see what others have posted, I find this very helpful when I am in a trade and I want to get a sentiment of the market.