Making Money Trading

This is a discussion on Making Money Trading within the First Steps forums, part of the Reception category; Originally Posted by develbis Hi Rathcoole, Great post, a method wrote down and complete" ish awards in the post Post ...

View Poll Results: Which market do you want to learn to trade?
Indices 43 42.57%
Foreign Exchange 38 37.62%
Bonds/Interest Rates 5 4.95%
Commodities 15 14.85%
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Old Oct 27, 2007, 7:45pm   #61
 
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Quote:
Originally Posted by develbis View Post
Hi Rathcoole,

Great post, a method wrote down and complete" ish

awards in the post

Post a couple of chart examples and I"ll award some more points to somebody else so I can give you some more

If you can"t write your method down you have"nt got one what's his name
as requested.
1. EMAs above Tunnel = bullish
2. RSI above 50 = bullish
3. RSI recently crossed over 50 and survived re-tests = bullish
4. RSI crossed over MA = bullish
5. Price EMAs crossed over = bullish
6. Trade plan, Stop Buy next open above previous day's high.
7. See ya !
8. do you need me to go onto to explain SLs, additional positions etc ?
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Old Oct 27, 2007, 8:14pm   #62
 
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Quote:
Originally Posted by rathcoole_exile View Post
as requested.
1. EMAs above Tunnel = bullish
2. RSI above 50 = bullish
3. RSI recently crossed over 50 and survived re-tests = bullish
4. RSI crossed over MA = bullish
5. Price EMAs crossed over = bullish
6. Trade plan, Stop Buy next open above previous day's high.
7. See ya !
8. do you need me to go onto to explain SLs, additional positions etc ?
Looks like rathcoole_exile and I had more or less the exact same entry. Surprising since he already suggested my method is likely to be "crap".

Unlike his, which boasts a rather daunting checklist of points to consider before entering, my method keeps it rather more simple. There was one deciding factor that got me in this trade. I'll explain in due course.

Hope everyone is enjoying the weekend

Tom
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Old Oct 27, 2007, 8:18pm   #63
 
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Quote:
Originally Posted by rathcoole_exile View Post
I don't want to compare anything, i just want you to ****e or get off the pot after several pages of BS. But at least I openly state my methodology.

Poll ? Just do something ! Nobody cares if its EURUSD, Crude or Google. it'll be crap anyway so just get on with it.
I am not a heckler nor am i a naysayer, as a matter of fact i am very interested in following this thread so that i can contribute constructively somewhere. This guy does have a point though....can we get on with it already as this thread will become cumbersome and very difficult to follow.....

this thread is filling up with crap already.....everyone stating they are interested, looking forward to reading your methodology, wish you good luck, we appreaciate your efforts blah blah blah......

just state your methodology and why you are using it, what is your belief system for the markets, post a chart, any chart...and give an analysis of what you are doing and why you are doing it, why the need to drag things out.......this is gonna be a monumental thread in terms of size....and its gonna be padded with soooo much unnecessary post......a cluster F$%K

i am sure you have the best of intentions and your reasons for doing this are very honourable. I can relate to them and a lot of what you have said so far is intelligent and sensible....but for heavens sake you should have just got to the point from the get go.
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Old Oct 27, 2007, 8:27pm   #64
 
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Quote:
Originally Posted by trader_dante View Post
Looks like rathcoole_exile and I had more or less the exact same entry.
so you will have been in on this one too ?
Great !
despite the "daunting" description of the checklist, it can actually be verified in about 3 seconds visually. Not too much to ask for a trade that's supposed to be an alternative to working for a living !
I look forward to seeing your posts of your charts showing these set-ups according to your parameters so we can all benefit from your wisdom.

Garry
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Old Oct 27, 2007, 8:37pm   #65
 
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Quote:
Originally Posted by jiggly View Post
I am not a heckler nor am i a naysayer, as a matter of fact i am very interested in following this thread so that i can contribute constructively somewhere. This guy does have a point though....can we get on with it already as this thread will become cumbersome and very difficult to follow.....

this thread is filling up with crap already.....everyone stating they are interested, looking forward to reading your methodology, wish you good luck, we appreaciate your efforts blah blah blah......

just state your methodology and why you are using it, what is your belief system for the markets, post a chart, any chart...and give an analysis of what you are doing and why you are doing it, why the need to drag things out.......this is gonna be a monumental thread in terms of size....and its gonna be padded with soooo much unnecessary post......a cluster F$%K

i am sure you have the best of intentions and your reasons for doing this are very honourable. I can relate to them and a lot of what you have said so far is intelligent and sensible....but for heavens sake you should have just got to the point from the get go.
I do agree to some extent, and timsk did suggest to trader_dante that he needed to throw some scraps while we wait until Tuesday to decide what t_d is going to trade.

I think L_McQ would best cull the majority of the "null" posts and tidy up, otherwise any reader coming to this fresh will get a rather dim of view of T2Ws membership if they had to trawl through 7 pages (and counting) of pre-judgements.

dont kow why the fuss. waiting till Tues is no different to waiting for a signal.
Patience, GrassHopper.
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Old Oct 27, 2007, 8:38pm   #66
 
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This is the last post I am going to make about this point.

trader_dante started this thread
Quote:
Originally Posted by jiggly View Post
I am not a heckler nor am i a naysayer, as a matter of fact i am very interested in following this thread so that i can contribute constructively somewhere. This guy does have a point though....can we get on with it already as this thread will become cumbersome and very difficult to follow.....

this thread is filling up with crap already.....everyone stating they are interested, looking forward to reading your methodology, wish you good luck, we appreaciate your efforts blah blah blah......

just state your methodology and why you are using it, what is your belief system for the markets, post a chart, any chart...and give an analysis of what you are doing and why you are doing it, why the need to drag things out.......this is gonna be a monumental thread in terms of size....and its gonna be padded with soooo much unnecessary post......a cluster F$%K

i am sure you have the best of intentions and your reasons for doing this are very honourable. I can relate to them and a lot of what you have said so far is intelligent and sensible....but for heavens sake you should have just got to the point from the get go.
Jiggly, I understand your frustration. It is getting long and perhaps nothing of real substance has been said yet but there is a reason for this. I want to teach those that are new to this game how to make money and I will be doing it very slowly so that every concept is fully understood and I will BEGIN once a market has been chosen. I don't want to choose it myself because I know what will happen.

I will choose a market I make money on regularly like the Treasury Market or Crude Oil and new traders won't bother following it closely because they either don't have access to it or don't have the margin to trade it. They will take what I say the minute I post it, apply it to another market and won't be able to make money - get frustrated and give up.

If you want my methodology. It is this: Look to play price action (pin bars, inside bars etc) at levels of support/resistance where there is confluence in the forms of key fibonacci levels or moving averages.

There you have it. It is as simple as that. Go away and make lots of money with it.

The moving average system is even simpler: When the market is trending the 50ema slopes up. You will then find that the price often retraces to the zone of the 10 and the 21 before continuing onwards.

Thank you. Perhaps you can all stop having a go at me now.

I want to take this very slowly. There is too much to explain by simply posting one chart.

Take pin bars for example. Why do I play a certain type of pin bar and not another? Are the relative levels of the left and right eyes important? Is a postive/negative open/close relative to the direction of the trend significant when deciding whether to enter?

What about support and resistance? Surely this is easy enough to draw on a chart? WRONG How do I come up with my support and resistance areas? Do I pay more attention to S/R pivots or just straightforward support/resistance? Would I play a break of these areas or wait for a retest?

There is too much to go into in one go and I am not going to bow down to pressure to do so. It may take a week or it may take six months for people to understand what I do with S/R. I will not move on to the next level until they do. The single most important factor here is whether people make money. They WON'T make money unless they understand this. And they won't understand if I rush.

If you don't believe in me go somewhere else. What use are you serving being here? If I am a fraud it will be exposed soon enough when my live calls fail. If you are here to wait for that and rub your hands in glee - at least do me the favour of waiting to see if it happens.

We will start Tuesday. If you don't want to see this forum getting longer - don't post!
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Last edited by trader_dante; Oct 27, 2007 at 8:44pm.
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Old Oct 27, 2007, 8:51pm   #67
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You see, where I come from we tell it like it is...no beating about the bush...and on this thread it will be just so

Now that was me with my friendly head on


This will be me with my none friendly head on....press some buttons, deliver some infrations, ban some members, talk about it next week and have a jolly good laugh over a nice cup of tea

GOT IT ?

Please all calm down and have a nice weekend

cv
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Old Oct 27, 2007, 9:21pm   #68
 
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Well, I for one look forward to seeing what trader_dante has to say. As a newbie trader, I am sure I can learn from it. Let's just wait to see what he says before having a go at him. It may be something every experienced trader already knows. It may be the best thing since sliced bread. It may be a load of rubbish. We will just have to wait and see. Until I know more, I thank trader_dante for his patience and not getting fed up with the negativity and taking his ideas elsewhere.

(You know, it isn't a crime to want to help people. I give a few hours a week to a charity and gain absolutely nothing from it (oh, ok, I get a free cup of tea). And, in fact, I'm also guilty of posting a trading method; look in the binaries section.)
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Old Oct 27, 2007, 9:32pm   #69
 
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Quote:
Originally Posted by trader_dante View Post
Just wait until I have fallen down and kick me then.
Tom,
OK, look forward to it

sorry, I did start off highly supportive of your thread and impressed with your desire to help and share. Just frustrated at lack of progress. No hard feelings ?

cheers
Garry
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Old Oct 27, 2007, 9:49pm   #70
 
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Ok here goes...

trader_dante started this thread
Quote:
Originally Posted by rathcoole_exile View Post
Tom,
OK, look forward to it

sorry, I did start off highly supportive of your thread and impressed with your desire to help and share. Just frustrated at lack of progress. No hard feelings ?

cheers
Garry
Garry - no hard feelings. You're right this has gone on too long. Ok, the mods will clean it up when they get time and I have an idea: since Indices have led the poll almost all the way but forex is close behind I am going to concentrate on these two markets. Once the strategy is clear I may post some setups I see in Bonds or Commodities. At least I can now tell where the majority of peoples interest lies. I'll get started in the next post. That may not be tonight - I've spent almost all of my Saturday on here!

I am going to introduce things slowly because I think you will all learn better that way. I will post charts and I will annotate them and try and detail in posts the exact way I work. If I post a setup that I am taking in the live market I will put Market Setup in bold in the Title window. I may not do this for a little while as I want people to understand why I am doing what I am doing. Please refer to my attempt at a disclaimer if you decide to follow me. I am sure that most of you are too sensible to do that at least until I prove myself but I warn you: just because I say I am looking to do something doesn't mean I am advising anyone else too. Everyone has a different profile in the market place and we should operate with our own unique profile in mind.

OK, thanks for all the support and the criticism. Let's see where this goes

Tom
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