Best Thread How To Make Money Trading The Markets.

[Mr. Charts]

The last trade I put up here didn't need L2 T&S skills, but this one did; it's not for trading without those skills and so not for beginners.
I know people say "it's all in the charts", but that is often not so. It seemed to me just before market open that this was a stock which could move strongly based on general market sentiment, not stock specific.
+$1.16 per share so a nice juicy one.
Richard

 

[Mr. Charts]

This one today was also a pre-market choice and was very similar to the previous one I posted y'day.
+$1.57 a share so a cracking good start to the day.
There were several other trades today using other methods and set ups.

 

[danjuma]

I did post the following in the IB brokers' thread for a few days now, but nobody has responded. Hopefully I would get a response or two on this thread.

Hello IB,

I was looking to add NASDAQ level 2 (and time & sales) to my data sub. However, can't see this on the list. All I can see is 'NASDAQ TotalView Non-Professional'. Is this the same thing? Thanks

From what I have read, it seems it includes level 2 quotes (and more), but doesn't say whether it includes time & sales.

Thanks
Dan

 

[Mr. Charts]

Here's one from today using this method (I used this on another profitable trade today and other set-up techniques on some other trades).
I found the stock by running a simple scan and waited to see if it would break down, which it soon did.
I was looking for a modest 20c or so trade but it just kept on going down and I exited at the time of the screen shot for a rather nice +$1.85 per share. I don't normally have "take profit levels" as such the way others do. Of course I have something in mind but I'm completely flexible and will be dictated to by price and market action, NOT by my opinion. Or to put it another way, my "opinion" is really a view, a perception, and that is completely dependent on what is happening, not on any pre-conceived notion.
However, if I see a potential reversal shaping up at a level I have anticipated, then I will either close the trade or take some money off the table by scaling out.

This method and the other dozen or so set ups I use are not rocket science.
Anybody can do it.

I've now been on t2w for 10 years and in view of the huge amount of lulz and personal insults and utter filth posted, I think it's time to take a break; maybe temporary, maybe permanent.

My friends know my email.

Richard

 

[razor99]

Here's one from today using this method (I used this on another profitable trade today and other set-up techniques on some other trades).
I found the stock by running a simple scan and waited to see if it would break down, which it soon did.
I was looking for a modest 20c or so trade but it just kept on going down and I exited at the time of the screen shot for a rather nice +$1.85 per share. I don't normally have "take profit levels" as such the way others do. Of course I have something in mind but I'm completely flexible and will be dictated to by price and market action, NOT by my opinion. Or to put it another way, my "opinion" is really a view, a perception, and that is completely dependent on what is happening, not on any pre-conceived notion.
However, if I see a potential reversal shaping up at a level I have anticipated, then I will either close the trade or take some money off the table by scaling out.

This method and the other dozen or so set ups I use are not rocket science.
Anybody can do it.

I've now been on t2w for 10 years and in view of the huge amount of lulz and personal insults and utter filth posted, I think it's time to take a break; maybe temporary, maybe permanent.

My friends know my email.

Richard

I wholeheartedly vote for temporary. Love this thread. I sheepishly admit that I don't contribute enough, but am not in the position to trade equities (Just 1 or 2 ES contracts) but plan to migrate in the future. Its a sad fact that some members here sole joy is to try and hammer anyone who appears successful. They are perennial non believers and just should be ignored. You have been incredibly generous with your posts. I sincerely hope they continue..

Razor

 

[selalin]

I wholeheartedly vote for temporary. Love this thread. I sheepishly admit that I don't contribute enough, but am not in the position to trade equities (Just 1 or 2 ES contracts) but plan to migrate in the future. Its a sad fact that some members here sole joy is to try and hammer anyone who appears successful. They are perennial non believers and just should be ignored. You have been incredibly generous with your posts. I sincerely hope they continue..

Razor

I second that Raz, anyone who knows Richard can only go away thinking what a lovely guy he is, a point surely reflected by the tireless input he has provided to this thread.

You will be sorely missed Richard, short or long term.

 

[mik1973]

I second that Raz, anyone who knows Richard can only go away thinking what a lovely guy he is, a point surely reflected by the tireless input he has provided to this thread.

You will be sorely missed Richard, short or long term.

You must make friends very easily .

Been a memeber for less than three days and can speak so highly of someone.......

 

[the hare]

I've now been on t2w for 10 years and in view of the huge amount of lulz and personal insults and utter filth posted, I think it's time to take a break; maybe temporary, maybe permanent.

but afore ye go, would you care to express an opinion as to why there's increasingly more and more lulz ?

I'm sure a warm welcome would be extended at the other place.

 

[selalin]

Loosen up Mik, I've been a member for 5 years but lost my log in details and am offshore N Sea. The reason I speak so highly is because amongst other reasons, I spent some 1 to 1 with him and am well positioned to provide such comments.

I also make friends easily.

 

[mik1973]

Loosen up Mik, I've been a member for 5 years but lost my log in details and am offshore N Sea. The reason I speak so highly is because amongst other reasons, I spent some 1 to 1 with him and am well positioned to provide such comments.

I also make friends easily.

Fair enough

I've loosened up you'll be please to know.

I'm still working on the friends issue.

 

[selalin]

Fair enough

I've loosened up you'll be please to know.

I'm still working on the friends issue.

Thank you Mik.

Keep heading in the same direction and the friends issue will fall under its own weight, I promise.

 

[mik1973]

Thank you Mik.

Keep heading in the same direction and the friends issue will fall under its own weight, I promise.

Thanks for the advice.

Just off to the coal shed to play with my Paul Daniels Magic set.

Happy Days

 

[adrianjm]

Hi Guys,

I'm working through this thread, so pardon if anyone has asked already - what's the charting platform that Mr Charts uses?

Adrian

 

[timsk]

Hi Guys,

I'm working through this thread, so pardon if anyone has asked already - what's the charting platform that Mr Charts uses?

Adrian

Hi Adrian,
Welcome to T2W.

I think Mr. Charts is away for a while - so I'll answer your question. Up until the final few pages of the thread he's used eSignal. Latterly, he's stopped using them in favour of the free charting package provided by his broker (Interactive Brokers). When I say 'free' - it's free to customers who have an account with them.

The only other thing to say is that the charting platform is a matter of personal choice - you can use any one you want as they all offer moving averages, ATR, volume, previous day's High / low etc. which, besides price itself, is all you need to trade the methodology described in this thread.
Tim.

 

[Andyclockwise]

Hi Adrian,
Welcome to T2W.

- you can use any one you want as they all offer moving averages, ATR, volume, previous day's High / low etc. which, besides price itself, is all you need to trade the methodology described in this thread.
Tim.

Has anyone found a way to show previous day's high / low on IB's charting software? As far as I knew this feature is not available other than by manually drawing lines.

 

[timsk]

Hi AndyC,
Can't help on the IB front I'm afraid as I no longer have an account with them. But it's a feature on most bespoke charting packages - certainly all the ones I've ever used. That said, I'm surprised by your comment. It's worth joining the IB forum and posing your question there if you don't get an answer here. Even if it doesn't come as standard, I expect some techie can knock up the code for you?
Tim.

 

[adrianjm]

Hi Adrian,
Welcome to T2W.

I think Mr. Charts is away for a while - so I'll answer your question. Up until the final few pages of the thread he's used eSignal. Latterly, he's stopped using them in favour of the free charting package provided by his broker (Interactive Brokers). When I say 'free' - it's free to customers who have an account with them.

The only other thing to say is that the charting platform is a matter of personal choice - you can use any one you want as they all offer moving averages, ATR, volume, previous day's High / low etc. which, besides price itself, is all you need to trade the methodology described in this thread.
Tim.

tks Tim,

Yes, I saw the OP was taking a haitus. Hopefully just long enough for me to catch up on the thread!

Traded this method in an undiscplined way yesterday - not the best day to start - and managed to lose plenty of sim dollars. Identification of stocks in play seems to be my current hurdle. Will focus more on pre-market movers and stocks in the news today.

Adrian

 

[timsk]

tks Tim,

Yes, I saw the OP was taking a haitus. Hopefully just long enough for me to catch up on the thread!

Traded this method in an undiscplined way yesterday - not the best day to start - and managed to lose plenty of sim dollars. Identification of stocks in play seems to be my current hurdle. Will focus more on pre-market movers and stocks in the news today.

Adrian

Hi Adrian,
I'm glad to hear it's only 'sim' dollars! These are - obviously - extraordinary market conditions and any results that traders get - be they good or bad - should not be thought of as typical. Mr. Charts might disagree, but I'd say that the technical factors (such as paying attention to round numbers and the previous day's high / low) - along with the psychological factors normally associated with them - are pretty much on hold for the time being. If he was here, I'd expect he's advise all but very experienced traders to either stay out of the market altogether or to only trade on sim'.
Just my $0.02 worth - others may not agree.
Tim.

 

[ProfessorK]

Mr. Charts

After a week of thoroughly reading and thinking about this entire thread I must thank you for the dedication and effort you have provided to share your knowledge with others so freely. I must also comment on how I used a very similiar strategy to day trade while I was in college and had mixed results due to my own lack of discipline, and my misunderstanding of risk to reward ratios. I do believe your right when you say placing profit targets is an almost arbitrary process, and that risk is the most important factor to focus on.

I also find it an eerie coincidence that I myself have been contemplating trading on a foreign market myself because I work full time. Being that I live in Florida I have been contemplating trading the ASX and TSE markets as they are open in the evenings here in the eastern US. Perhaps it was destiny that lead me to this thread and provide the motivation to pursue my goals.

Thank you to Mr. Charts, Timsk and many others who i have not mentioned for contributing your knowledge and ideas. I feel once again inspired amd have truly learned constructive information that I can incorporate into my own trading.

+Kevin

 

[gimmepips]

Hi guys,

Just a quick noob question.....

Does anyone know of any relatively cheap level 2 time and sales data providers?

I know IB do it FREE for their customers, but I'm not anywhere near the required account level, and I just need the level 2 time and sales.

Thanks