Trading the US the Naz/Mr. Charts Way
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The Beyonder
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Many thx, good trade.
Cheers Mr C...
I see what you are saying...and couldn't agree more that CECO was certainly worth trading.
Reason for my query was that having read a few bulletin boards and websites etc...a common theme that does seem to crop up is that the tried and trusted technical indicators are been used by 'Jo Public', but the so called 'insiders'' / 'experts' / 'MM' "know" all these methods , and hence the relevant entry/exit points and move prices appropriately to activate stops?
Having said that though, these do still work sometimes, so perhaps that is what stops are for..
Ta..
P.S Seems that ERTS is currently suspended on IB, haven't come across that before on a results day ?
I see what you are saying...and couldn't agree more that CECO was certainly worth trading.
Reason for my query was that having read a few bulletin boards and websites etc...a common theme that does seem to crop up is that the tried and trusted technical indicators are been used by 'Jo Public', but the so called 'insiders'' / 'experts' / 'MM' "know" all these methods , and hence the relevant entry/exit points and move prices appropriately to activate stops?
Having said that though, these do still work sometimes, so perhaps that is what stops are for..
Ta..
P.S Seems that ERTS is currently suspended on IB, haven't come across that before on a results day ?
Just to say I am enjoying reading your posts Mr Charts and congrats on a great trade today.
I was wondering if you could give me some more information on your set up and how many screens you are using and what you are monitoring as one of the problems I had when trying to trade stocks was information overload and knowing which stock was likely to move and which was going to channel for the session as often happens even with gappers or news stocks.
The trouble I find is when trading stocks you often have to watch a few to select the ones with the most potential but when watching a few it is impossible to watch time and sales / volume and level two at the same time on all of the stocks
So what are the best indicators to show potential movement or a potential lack of movement, can you tell this from T&S on its own?
Regards and keep up the good work.
I was wondering if you could give me some more information on your set up and how many screens you are using and what you are monitoring as one of the problems I had when trying to trade stocks was information overload and knowing which stock was likely to move and which was going to channel for the session as often happens even with gappers or news stocks.
The trouble I find is when trading stocks you often have to watch a few to select the ones with the most potential but when watching a few it is impossible to watch time and sales / volume and level two at the same time on all of the stocks
So what are the best indicators to show potential movement or a potential lack of movement, can you tell this from T&S on its own?
Regards and keep up the good work.
Mr. Charts
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schoe said:
Hi schoe,
Although the results and guidance were good, UBS had some interesting comments to make which resonated with my own feelings, especially when the investigative accounting group is going to report in a week or two - all of this was on the news feed pre-market.
Let's be blunt, if you were a holder wouldn't you sell into results strength ;-)
I do know from experience that CECO is apt to react quite violently to news and that's what made it number one on my radar.
I can only watch one stock in close detail on level 2 and T&S when the market opens and CECO was my choice.
I use two screens only, running a second monitor off a laptop.
I normally have another four esignal chart windows on that monitor showing the best stocks on my radar. I can then zero in onto level2 and T&S for the best one, although in this case I knew it was going to be CECO anyway.
The way I read level 2 and time and sales showed me there was simply no sign of any buying support so I knew it was going to fall, but had no idea how far from my screen how much. Sometimes I find they may only fall 20c or 30c in these circumstances, sometimes they fall ten times as much. It really is extremely unusual for that particular type of trade to fail...........
On the original "Trading the US ........" thread on t2w there are posts about CECO and I talked about it at the joint seminar I did with Naz, so I am familiar with the strength of selling that news can engender in that stock.
To describe everything about this in great detail normally takes me an hour and a half to two hours of speaking and numerous screen shots showing different significant situations so it is impossible to do with my two fingered typing !
Hope this helps anyway,
Best wishes,
Richard
PS You have email.
Last edited:
wal said:
I used to suffer from this affliction and I bought myself one of those typing tutorial software packages.
It doesn't take as long as you think to learn, now I can touch type at 40 words per minute and it is very useful for work and for typing on bulletin boards/emails/letters etc , I recommend them and it gives you something to do in between trading.
Schoe..
stevespray
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Wednesday 4th May 05
ERTS looks like one of the movers today. I know this is a fav with Mr Charts...any insight Mr C ?
Looks like results were poor.
Steve.
ERTS looks like one of the movers today. I know this is a fav with Mr Charts...any insight Mr C ?
Looks like results were poor.
Steve.
Mr. Charts
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Radar list:
ERTS
IACI
BIIB
ZBRA
APOL
CEPH
Richard
ERTS
IACI
BIIB
ZBRA
APOL
CEPH
Richard
Mr. Charts
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Warts and love bites:
ERTS +47
(long when it broke $48 for fast early move)
ZBRA +$2.47
(swing - beautiful classic reversal)
APOL -7
(swing - caught by reversal :-( )
LAMR -13
(swing - picked up strong move but entered near peak)
Position sizes the same for each stock, so,
total profit $2.74 per share
net profit after commission $2.68 per share
This is typical of the way I like trading:
ERTS bread and butter trade
ZBRA icing and marzipan trade - stick with the increasing profits as they run - requires lots of discipline not to exit too early
APOL and LAMR get out soon when they go against you to keep losses small
Richard
ERTS +47
(long when it broke $48 for fast early move)
ZBRA +$2.47
(swing - beautiful classic reversal)
APOL -7
(swing - caught by reversal :-( )
LAMR -13
(swing - picked up strong move but entered near peak)
Position sizes the same for each stock, so,
total profit $2.74 per share
net profit after commission $2.68 per share
This is typical of the way I like trading:
ERTS bread and butter trade
ZBRA icing and marzipan trade - stick with the increasing profits as they run - requires lots of discipline not to exit too early
APOL and LAMR get out soon when they go against you to keep losses small
Richard
Salty Gibbon
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Thanks for giving details of your "radar list" prior to trading Richard.
This is very helpful indeed and what I have also found extremely useful in your recent postings is gaining an insight into how you organise yourself at the kick off.
I feel that personal organisation in the first 30 to 60 minutes after the open is vitally important and is an area I often struggle with through trying to look at too many stocks.
Your radar list is short, sweet and manageable.
Thanks again.
This is very helpful indeed and what I have also found extremely useful in your recent postings is gaining an insight into how you organise yourself at the kick off.
I feel that personal organisation in the first 30 to 60 minutes after the open is vitally important and is an area I often struggle with through trying to look at too many stocks.
Your radar list is short, sweet and manageable.
Thanks again.
Mr. Charts
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My pleasure, Salty.
Richard
Richard
frugi
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As long as you take a bath first, Tim 
*note to self: never laugh at my own awful jokes*
Tis early days, but I like the direction this forum is taking already. Lose the idiots and suddenly everyone feels safe to be more honest, open and helpful. Good call Richard & Naz. Nice to see the Saline Chimp back too
Bought Techniques of Tape Reading today, looks like a good read.
This post should be deleted within 24 hours, or I'll do it myself.
*note to self: never laugh at my own awful jokes*Tis early days, but I like the direction this forum is taking already. Lose the idiots and suddenly everyone feels safe to be more honest, open and helpful. Good call Richard & Naz. Nice to see the Saline Chimp back too
Bought Techniques of Tape Reading today, looks like a good read.
This post should be deleted within 24 hours, or I'll do it myself.
Salty Gibbon
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Thanks for the sentiments Frugi.
Agree with you about this forum.
Mr. Charts
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Thanks guys.
I've read that book and it is a good read, but you won't learn how to micro analyse from it.
"Lose the idiots and suddenly everyone feels safe to be more honest, open and helpful."
'Twas ever thus.
Re- the "Top Shunting" thread on the Forex forum.
There are some top ideas being shunted around and yours are good, if I may say so, frugi.
I'll leave it longer to see if anybody else replies, then I'll post about what happened next.
It's not so much the "why" in my opinion, (because there can be different reasons), as much as reading "what" is happening and making decisions accordingly.
If someone is a novice at this, by the time you think about the "why", the "what" is already happening.
By the time you've gained some learning and then experience to re-inforce that learning, you get to spot these things immediately and react correctly. Just like many situations in life.
Richard
Richard
I've read that book and it is a good read, but you won't learn how to micro analyse from it.
"Lose the idiots and suddenly everyone feels safe to be more honest, open and helpful."
'Twas ever thus.
Re- the "Top Shunting" thread on the Forex forum.
There are some top ideas being shunted around and yours are good, if I may say so, frugi.
I'll leave it longer to see if anybody else replies, then I'll post about what happened next.
It's not so much the "why" in my opinion, (because there can be different reasons), as much as reading "what" is happening and making decisions accordingly.
If someone is a novice at this, by the time you think about the "why", the "what" is already happening.
By the time you've gained some learning and then experience to re-inforce that learning, you get to spot these things immediately and react correctly. Just like many situations in life.
Richard
Richard
Naz
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It is horses for courses.
I always have the futures up to see what's going on.If the futures aren't going anywhere on a particular day then trading them can be a bit tough.However there are thousands of US stocks out there and you can bet that some of them will be moving strongly.Just find out which ones are and get among the action.
That means every day there are oppertunities to be found both long and short.So IF you can get your trading right and it can sensibly become your job and a full time occupation.
Naz
I always have the futures up to see what's going on.If the futures aren't going anywhere on a particular day then trading them can be a bit tough.However there are thousands of US stocks out there and you can bet that some of them will be moving strongly.Just find out which ones are and get among the action.
That means every day there are oppertunities to be found both long and short.So IF you can get your trading right and it can sensibly become your job and a full time occupation.
Naz
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