Best Thread How To Make Money Trading The Markets.
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Mr. Charts
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I don't agree. There are usually opportunities all day long, including the US afternoon - that's the evening here in the UK.
Look at HCA and WLP today for example.
I started out myself doing a day job and trading the evening session only, before giving up the day job to trade for a living - 12 years ago.
Richard
How did you find WLP? Looks like it was flying under the radar only down $1.3 ~2.3% atm. Definitely wouldn't have been on the top losers list.
Mr. Charts
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Mr. Charts
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Mr. Charts
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Anyone reading my post at 4:12 today will see I mention HCA and WLP.
Anyone then looking at a 3 min candle chart of those stocks would have seen HCA break down to a new low on falling candles as described in this thread (strongly trending stock) 6 minutes AFTER I posted.
I shorted and made 34c per share profit when I exited, just 4 cents above what has proved to be the low of the day so far.
I hope anyone reading that post at 4:12 took advantage of the opportunity to make some good money........I don't tip or give buy/sell/short advice. I don't say I will enter at a particular price - it depends on price behaviour at that key price level.
If anyone doesn't understand that concept, then they might start thinking about it as it's a very essential help in trading, imho. But, hey, people will think whatever they choose and have their own opinions.
I haven't bothered labelling this chart, anyone can see for themselves the point of breakdown. Image taken, as always, at time of exit. Oh, and why don't I show a chart at the time of entry? Because once I enter a trade I'm far too busy managing and watching that trade for any signs of failure so I can get out quickly if I'm wrong or trail the price in the winning trades to maximise profits.
I will not respond to the usual unpleasantness which will follow this post. I've got more important things to do than get involved with anonymous people wanting flame wars.
That's it.
End of.
Anyone then looking at a 3 min candle chart of those stocks would have seen HCA break down to a new low on falling candles as described in this thread (strongly trending stock) 6 minutes AFTER I posted.
I shorted and made 34c per share profit when I exited, just 4 cents above what has proved to be the low of the day so far.
I hope anyone reading that post at 4:12 took advantage of the opportunity to make some good money........I don't tip or give buy/sell/short advice. I don't say I will enter at a particular price - it depends on price behaviour at that key price level.
If anyone doesn't understand that concept, then they might start thinking about it as it's a very essential help in trading, imho. But, hey, people will think whatever they choose and have their own opinions.
I haven't bothered labelling this chart, anyone can see for themselves the point of breakdown. Image taken, as always, at time of exit. Oh, and why don't I show a chart at the time of entry? Because once I enter a trade I'm far too busy managing and watching that trade for any signs of failure so I can get out quickly if I'm wrong or trail the price in the winning trades to maximise profits.
I will not respond to the usual unpleasantness which will follow this post. I've got more important things to do than get involved with anonymous people wanting flame wars.
That's it.
End of.
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Mayberry RFD
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neil
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ffsear
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Hmmmm, sounds like your not making money yourself and you passing the blame onto someone else here! No trading method is going to work for every person. You need to adapt things to suit your style. If your hunting for a golden goose, give up now!!
Ffsear,
No need for the "you cant be making money" routine. It's a valid point he makes. There are no threads (anymore) of people trading like this or similar. You'd expect a couple of closely related threads of others trading nyse stocks with similar approaches. But there arent any. (Amit tried it for a bit but stopped for some reason........ )
And I know you dont trade like this because you trade forex.
If anyone is out there trading nyse stocks on 3minute charts we'd love to hear from you......
There are probably 200 MrCharts students but where are they all......!
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Perhaps it's because you are not a vendor?
MrCharts has a vested interest in making this approach look profitable.
I think the previous poster (and I'm sure a few others) want to hear of a few success stories with this stuff. That's all. No need to be so defensive.
I'm sure a number of people were enticed to read the posts by the title of this thread. I have read the complete thread as well as another that ran along with it.
The problem with the thread as well as the technique(s) Mr Charts uses is that they are so vague. If anyone can be bothered to read back through this you will find a number of people asking for clarification.
There must be dozens of charts that have been posted yet there has never been an instance of any live calls of trades made. For some time it also seemed that Mr Charts was immune from trading losses. Although he eventually did post a few losses they were few and far between.
It does seem that the only person who is able to trade this method (whatever that method is) is Richard. Strange that after all this time no one else has been able to endorse this trading technique.
Mick
The problem with the thread as well as the technique(s) Mr Charts uses is that they are so vague. If anyone can be bothered to read back through this you will find a number of people asking for clarification.
There must be dozens of charts that have been posted yet there has never been an instance of any live calls of trades made. For some time it also seemed that Mr Charts was immune from trading losses. Although he eventually did post a few losses they were few and far between.
It does seem that the only person who is able to trade this method (whatever that method is) is Richard. Strange that after all this time no one else has been able to endorse this trading technique.
Mick
Mayberry RFD
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This thread is filled with charts that look to good to be true. Richard contradicts himself and his trading style several times throughout this thread. Most vendors make more money from selling their methods than they do from actual trading.
rawrschach
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rawrschach
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Really? Find trending market, wait for market to stall, trade continuation of trend with stop at previous bar.
Is it really that vague?
er yes - the way Richard explains it- and if YOU read the WHOLE thread you would be aware of numerous other posts where people have asked for clarification .
It's obviously a momentum type of strategy with short stops- not rocket science and not original to Richard.
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