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; Someone emailed me asking "why read the news...(re-post #14)...as everything is in the price." I don't believe that for a ...

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Old Sep 4, 2008, 9:04pm   #17
 
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Mr. Charts started this thread Someone emailed me asking "why read the news...(re-post #14)...as everything is in the price."

I don't believe that for a moment. Price on trades printing off is about what people buy and sell at and that is often not in line with the hundreds of ways people "value" a stock or anything else. Value or worth is not price .

I don't really want to get into all of that, but I feel strongly that anyone who trades on the basis of the previous day's price at the start of trading should have a good idea of the environment they are trading in. In other words, what overnight news or events are dictating sentiment on the new trading day?
You should never trade purely on news, but on the reaction of the market to that news or environment, be it oil price, stock sector, FX, interest rates, economic news or several other things, even weather.

In my opinion to trade purely on technical analysis in its classical sense is to ignore so much else and invites failure.
For me, TA is part of reading the market activity.

Again I'm talking here about stocks, not FX and other instruments.

You don't go out and do anything without knowing something about what the environment is like today.
You don't work without knowing what current conditions might affect your work. Not rocket science.
Richard
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Old Sep 4, 2008, 10:24pm   #18
 
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I've been following the thread for a few days and although I've seen a couple of charts, some discussion, and an invitation to email more sensitive questions, I don't think I've seen the method described. Have I missed something?
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Old Sep 4, 2008, 10:53pm   #19
 
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Quote:
Originally Posted by nine View Post
I've been following the thread for a few days and although I've seen a couple of charts, some discussion, and an invitation to email more sensitive questions, I don't think I've seen the method described. Have I missed something?
Fear not, you have not.......5.41 yesterday " Don't go thinking every trade works, they don't, but a high percentage are profitable and the losing ones are always kept small by the rules I will explain later."
Richard
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Old Sep 5, 2008, 1:23am   #20
 
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Hi Mr Charts,

this is a very useful thread, thanks for sharing your knowledge.
I would like to know what criteria do you use to search for stocks.

Thanks
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Old Sep 5, 2008, 4:38am   #21
 
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hello

i mean that sounds like a winner to me.how did you do it?
what technic did you use.
im a new trader and my goal is to make beteen 300-2000 dollars weekly to start with.
useing penny stock.
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Old Sep 5, 2008, 9:37am   #22
 
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Mr. Charts started this thread nine,
See post #4.
I'm looking for what is described there.
I am happy to enter the trade when it is trending and at a new high for longs or new low for shorts.
If it has been trending with the candles as described for quite a while I become more reluctant to enter. This is a matter of judgment and is based on reading the trades printing off; as long as they are steadily continuing I may well enter the trade; if they have tailed off, then the chances of a reversal have increased. As I've said, I'm looking for safe as possible bites out of the move.
No certainty, only high probability.
In addition to post #4, the charts posted so far illustrate examples of the entries and exits.
As mentioned there will be more to follow on different aspects of this method as and when I get time to post on this board.
Richard
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Old Sep 5, 2008, 9:47am   #23
 
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Mr. Charts started this thread Freeman,
Most live scanners will find the big movers of the day for you. I use eSignal Turbo scanner, but there are plenty available.

LZ,
For me personally I dislike trading the AAPLs and GOOGs of the world as I prefer the slower easily readable stocks where I can take larger position sizes with minimum risk and greater certainty.
Everyone to their own thing, though.
Good trading to you.

akindele,
This thread is not about "penny stocks" and they do not move as the stocks I trade, so what I've said so far and will be saying in the future won't be of much use to you, I'm afraid.
Perhaps search on this site for penny stocks and open a thread if you have questions about them

windowsill,
Thank you for your assistance

Richard
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Old Sep 5, 2008, 10:09am   #24
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Hi Richard,
Great to see a new Mr. Charts thread!
Do you welcome subscribers to it to post charts of trades they've taken using the set up you describe so that you can then comment good / bad etc. (a la the pin bar set up on Trader_Dante's thread), or do you want the thread kept 'clean' with minimal red herrings and cul-de-sacs? I'm just trying to gauge how much audience participation - and of what kind - is welcome or unwanted.
Tim.
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