How To Make Money Trading The Markets.

This is a discussion on How To Make Money Trading The Markets. within the Stocks forums, part of the Markets category; Originally Posted by Mr. Charts Here's another one from today. I read news stories before the market opens, both from ...

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Old Jan 8, 2014, 6:32pm   #2171
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Originally Posted by Mr. Charts View Post
Here's another one from today.
I read news stories before the market opens, both from the previous evening's post-market news flow and from the morning's pre-market news flow so NPSP was on my pre-market alert list. It also gapped pre-market.
It opened and shot up, then reversed quite strongly, more than I normally like to see.
It then worked its way back up, forming a couple of higher lows on the way till it broke to a new high on the rising candle set up I've described on this thread, at which point I went long. It wasn't an ideal set up, but still had a very good probability of success.
If it had failed I'd have exited very quickly for a small loss, but happily it continued to rise for a profit of 125c per share.
Richard
Good job! Nice set-up too - in fact I often use an almost identical set-up

Most of all, I like this line: "...If it had failed I'd have exited very quickly for a small loss..." New traders on this site could learn a lot studying that and your last few posts.

One quick question if I may: how have you found the impact of HFT algo's on your US equities day trading?
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Old Jan 9, 2014, 5:28pm   #2172
 
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Good job! Nice set-up too - in fact I often use an almost identical set-up

Most of all, I like this line: "...If it had failed I'd have exited very quickly for a small loss..." New traders on this site could learn a lot studying that and your last few posts.

One quick question if I may: how have you found the impact of HFT algo's on your US equities day trading?
I use 14 set ups, of which this thread is about one and this one is completely unaffected.
Of my other set ups about four of them have been affected marginally only. To put it another way, three of those set ups have a hit rate of about 58% whereas a few years ago they were nearer 63%. The other set up worked about 67% and is now 62%.
All my other set ups work as they always have since I gave up my profession to trade for a living in 2000.

Good trading to you,
Richard
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Last edited by Mr. Charts; Jan 9, 2014 at 5:30pm.
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Old Jan 9, 2014, 6:21pm   #2173
 
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Mr. Charts started this thread I ran a scan 9 mins after open and saw SPLS and using this method jumped on board for +14c per share.
Exit was when buyers came in.
I wasn't looking for a target gain or being greedy wanting more, just concentrating on getting out if it went against me and letting it run till there was a sign of a potential reversal.
Method, method, method.
Repetitive, repetitive,repetitive.
Profitable, profitable,profitable.
Satisfied,satisfied,satisfied.
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Old Jan 9, 2014, 10:14pm   #2174
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Originally Posted by Mr. Charts View Post
I use 14 set ups, of which this thread is about one and this one is completely unaffected.
Of my other set ups about four of them have been affected marginally only. To put it another way, three of those set ups have a hit rate of about 58% whereas a few years ago they were nearer 63%. The other set up worked about 67% and is now 62%.
All my other set ups work as they always have since I gave up my profession to trade for a living in 2000.

Good trading to you,
Richard
Thx Richard, that's interesting.
Keep up the good work.
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Old Jan 16, 2014, 6:17pm   #2175
 
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Mr. Charts started this thread BBY was on my pre-market alert list due to the news and the huge gap down.

This chart is not ideal, but the tendency was upwards and when it broke to a new high it did so on the rising candle method in this thread. In other words after a weak uptrend it became quite strong. I went long at the point indicated and exited at the time of the screen image for +30c per share.
Stocks do not have to start out strongly, they can become strong as this one did.

The other point is that most people seem very reluctant to buy a gap down stock, or short a gap up stock. They seem to have the false idea (and there are very many myths and misunderstandings in trading which stop people from consistently making money) that if price gaps up strongly it is likely to move up after open, and vice versa. Absolute rubbish, just like that hairy old chestnut that gaps have to close. Anything can happen and usually does.
Richard
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Old Jan 16, 2014, 6:54pm   #2176
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. . . and there are very many myths and misunderstandings in trading which stop people from consistently making money . . .
Hi Richard,
It's been a while since you started a 'serious' trading related thread and this strikes me as being an excellent topic - although some thought might need to be given to the thread title! I'd be very interested to hear your thoughts on this - and others would be too, no doubt.

Go on - you know you want to!

Tim.
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Old Jan 20, 2014, 10:15am   #2177
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Richard, good to see you are posting your trades again. This thread is an enjoyable read.
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Old Jan 21, 2014, 10:48pm   #2178
 
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Mr. Charts started this thread DowJones and dojistar,
Thanks for the kind words. It's always a pleasure to read positive posts.
Richard
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Old Jan 21, 2014, 10:51pm   #2179
 
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Mr. Charts started this thread Hiya Tim,
I'm pretty busy at the moment but will think about it.
Shakone started a similar and excellent thread recently but it never really got going and didn't get the attention it deserved.
Richard
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Old Jan 30, 2014, 6:05pm   #2180
 
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Mr. Charts started this thread Here's one from yesterday that failed using this particular method.
If the stock doesn't do as it should do and starts to reverse I simply exit. IMHO one of the vital parts of trading is to keep the losers small.
CLF lost -3c per share
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