Best Thread How To Make Money Trading The Markets.

[pennycapitalist]

There are a lot of myths in trading and people tend to believe them as they appear sensible, logical and are repeated so often they become accepted.
Sometimes there is a modicum of truth and reality in them, but the problem is that the exceptions often are more frequent than the accepted norm......

Richard

Finding these small truths that exist apart from the commonly accepted myths and acting upon them would seem to give that trader an edge. With enough observation, recognition, and skillful application of these truths, a trader should
begin to reap a profit. Consistent losses should serve as a warning that the beliefs one is acting on are not true. I believe changing your set of beliefs to ones that work is one of the things a trader can control and must if he is to be profitable.

It is pretty simple really. Make a list of your beliefs, test them, and when they don't work change them. When they work, keep them and find more like them. I have a list of more than 200 such beliefs.

 

[pennycapitalist]

This was a beauty on CSIG (on Tuesday) - I went in at 20.42 (on the cross-hairs) & got out at 19.64.



I like these patterns - where it looks like the price is going to fall off a 'cliff' - it just requires patience & vigilance to time it right.

View attachment 112478

Look at the chart to the left of your cross hairs. It looks like a stream of water just as it starts to fall. That is one of the setups we should look for. Each of Mr. Charts screen shots shows patterns that replicate themselves over and over again.

Someone teaching me resistance and support used to say, "Look left; find structure. That statement also holds true to find patterns from Mr. Charts red cross hairs. Look left; observe the pattern.

 

[Mr. Charts]

There are normally plenty of opportunities simply because there are plenty of stocks to trade.
However, during results season there are even more, so happy hunting !

ABBV was a pre market alert and produced +98c per share

 

[pennycapitalist]

My observation

Hi Bagool,

I don't think it is really much to do with what the candles are doing as such. It's more about readable, emerging buying/selling pressures on level 2. This results in differing candle patterns as you should have noticed in the charts posted on this thread. Optimal entry is just before everyone else! :cheesy:

Stock selection is based on news of the day and stocks that happen to be moving with momentum in one direction or making new highs/lows picked up by a scanner. Many stocks are weeded out due to low average trading volumes or crazily large Bid/Ask spreads etc.

Mr C may elaborate if you ask him nicely. He will of course expect you to have read all of this thread first.

Having read the longer thread up to this point, it looks like the first call to attention is trend in the charts, then seems to come a stronger move for two candlesticks in the direction of the trade to come, next would be a confirmation in level II if possible. Then the trade is taken and closed on first hint of trend interruption via chart or level II. Except for the reversal trades which seem to follow a doji and reversal confirmation candlestick rather quickly, entry seems to come as soon after the crowd moves as discovery permits.

Ahead of entry are all sorts of interesting technical patterns, like trend lines, waterfalls, roundups, gaps, and even the most perfect intra-day head and shoulders.

What a wonderful way to teach! He tells us what and why he does what he does, but we want more. He gives us more but that's not enough. He tells us to RTFM and he paints hundreds of pictures. All we have to do is look at the pictures

 

[seguna]

Rtfm???

 

[pennycapitalist]

Read the "friendly" manual.

 

[Mr. Charts]

I don't remember saying that !
I think I said, RTFT = "Read The Full Thread"

 

[pennycapitalist]

I don't remember saying that !
I think I said, RTFT = "Read The Full Thread"

You are right. Sorry about that. There were so many in the thread that didn't seem to read it, that I guess I saw it in a slightly different light. I will probably see your trades in a different light than you as well. Even when you tell us one thing, what gets through may be something else entirely.

Anyway, whatever you showed us, it is working for me. I've got 24 wins against 20 losses. My first 3 trades were profitable. I'm trading the paper side of a live account so it is real time, just not real money. Thank you for staying with this so long.

I'm up about a thousand dollars, but I'm making enough mistakes that I think I'll need two hundred trades before I use real money. I'd like my win ratio to be closer to 60%. First couple of days I did 3 or 4 trades, but I don't seem to have trouble finding 10 or so per day now.

 

[jonisonvespa]

Hi,
Looks an interesting read, before I start has anybody called Mr charts bluff and seen any evidence that he trades for real?.

Noticed something early on the thred he was incurraging people to email him directly mmmm maby selling something.

There we go 1 minute of searching Mr charts runs a training Course, selling alerts, big massive fail, now let me think if I was a successful trader why would I waste his time selling training courses, maby to give something back?

Reminds me of the American guy his slogan was drain the banks like a rat, he actually got me trading for real thankfully I never brought anything from him he was selling all sorts.

So please do offer up some evidence you trade for real,and I will buy every book take every and course you sell, I'll scribe and pay for your secret website and selling signals.

 

[Mr. Charts]

Anyway, whatever you showed us, it is working for me. I've got 24 wins against 20 losses. My first 3 trades were profitable. I'm trading the paper side of a live account so it is real time, just not real money. Thank you for staying with this so long.

I'm up about a thousand dollars, but I'm making enough mistakes that I think I'll need two hundred trades before I use real money. I'd like my win ratio to be closer to 60%. First couple of days I did 3 or 4 trades, but I don't seem to have trouble finding 10 or so per day now.

Pennycapitalist,
Great !
Yes, I do suggest that you have a long run of paper trading before using real money. I know it's different, but it won't do much harm practising first !
I'm very pleased you've found some things in this thread useful and helpful
Richard

 

[jonisonvespa]

don't feed the trolls I hear you say Mr charts had A little read of your method.

Just reading a few pages impressed with your method of reeling in your prey simply drip feeding your prey with snippets of info lovely pictures of winning trades with big rises or falls of share price just what every novice trader is looking for a winning system.

Encouraging people to contact you via email not pm, obviously you now have a good contact details to sell your other methods books buying signals courses at a later date, I bet nobody has called your bluff asking for evidence I can only think they are pre occupied in trying to learn your system. 250 pages and no one is showing off their Consistent winning trades.

There is only 1 reaston you have come to a novice forum is to sell something 250 pages and still the thred is going drip feeding information to novices. Now if it was me to save times I would simply write the method on a couple of pages and let everybody have it, even after 250 pages some people are non the wiser of your method which is exactly what your after, and hay presto they contact you classic.

Please don't get theng end of the stick I do not want your method I don't want a war I don't even want you to reply just want to warn novice traders searching for the winning System to look elsewhere this is just a classic sting nothing more It stinks, novices have enough on their plate as it is they don't need more confusion.

And no I am not a jealous twisted loosing trader taking my anger out on this thred, I can just smell a rat and want to warn people of this sort of thing that's All.

You've not proved anything in this thred works no statistics not even a real trade screen shot just pretty pictures of wining trades and I'm not asking you to either because it's plain to see what you are doing here. When you were a dentist you proved to everybody boldly hanging your citificate on your wall in your surgery but nothing here.

 

[Pat Riley]

I have ta be honest in declaring I don't trade charts, or anything like it, but ya only have ta look at what the chap's doing to get the gist of it. It ain't rocket science and he's the first to say so. But you could trade these setups for yourself from his screenshots and annotations. Even I'm not so stupid I couldn't work with that. If he chooses to keep his other stuff under wraps or for those wanting direct tuition, what's it to us and what's the problem?

If you've got something positive to offer these novice traders ya care for so much why don't you give us a peak as I'm sure no good effort will ever be turned away.

 

[jonisonvespa]

Hi Pat,
I have nothing to offer if it did the whole method would be on a single page for free I simply posted to warn novices of this kind of thing it's just a sting pulling in desperate novices searching for the Holy grail.

If your going to sell something at least prove to your seller it works 240 pages and nothing, and no I am not after the method, everybody is looking for the Holy grail which won't be fond here.

It just makes uncumftable reading looking at his website where he talks about his secret Website, obviously selling signals it's just fools gold all of it.

Do you think he's here out of the kindness of his heart he started the thredsto sell his wears to novices who are non the Wiser.

 

[Pat Riley]

I don't trade charts jonisonvespa, but if I wanted ta, I reckon I could easily do so on what has been provided in this thread. But I suspect I'm getting into an old fight here which does nobody any good so I'll bow out here if it's alright with you all.

 

[Atilla]

Don't Pat,
I have nothing to offer if it did the whole method would be on a single page for free. I simply posted to warn novices of this kind of thing it's just a sting pulling in desperate novices searching for the Holy grail.

If your going to sell something at least prove to your seller it works 240 pages and nothing, and no I am not after the method, everybody is looking for the Holy grail which won't be fond here.

It just makes uncumftable reading looking at his website where he talks about his secret Website, obviously selling signals it's just fools gold all of it.

Do you think he's here out of the kindness of his heart he started the thred to sell his wears to novices who are non the wiser

Mr Charts is one of the established and regular posters to this site.

I've seen a few snake oil salesmen but his not likely to be one of them imo. That's just my opion. I've never seen or heard anything from him that I found to be fishy or contrived for ill gains or purposes.

How he conducts his affairs and shares his personal knowledge and experience is up to him. He certainly does contribute and help many aspiring traders for free with his posts.

I have no vested interests with Mr Charts or subscribed to his services. Have on many occasions disagreed with his perspectives but comments you are making on your high horse sounds like you are a disenchanted trader who has too much time on his hands.


Perhaps you should observe and follow some of the posts before making such harsh comments.

 

[jonisonvespa]

Hello This is my last post I didn't come here to start a war or annoy anybody there is no evidenced Mr charts method works if there was people would be boasting about their results read somewhere someone got a strike rate of 50/50 is which just sounds like normal distrubution, like tossing a coin eventually it will be 50/50. Heads / tails.

Yup I'll bow out as well just hope nobody gets taken in that's all and good luck.

I did try to point out I'm not a disheartened trader just can to this site looking for info on something, and his thred caught my eye, the tital is exactly what every novice is looking for don't you Think?

I'm not a disheartened trader I don't really trade that much to be honest, just looking out for those searching for the Holy grail it won't be found in any forum or a paid up secret Website
Website.



Good luck traders

 

[pennycapitalist]

I've paid for a few secrets, Welles Wilder Delta, Ken Roberts, and a few higher quality semi-penny stock services. I've traded hundreds of systems from the Turtle, Wolfe Wave, Turtle Fade, and even a genuine system called "Holy Grail". I've studied candlesticks, bar charts, and even monkey bars. I've learned something from all of these, but though I made money on a few trades, I always lost a little more than I made.

This was an improvement upon the money I lost in the mutual funds.

I understand the warnings to the novice against giving money to gurus who promise they will make a fortune. One full page ad in Investor's Business Daily promises an exact amount of profit in a month whether the market goes up or down.

Those who warn should advise traders new or old to find their own edge, but they don't do that. I found my own edge but it only works in confirmed uptrend markets. I needed something for choppy markets.

Like all the other systems I've traded, I tried this method. I made money (paper money) on my first three trades and since I've been right 34/27 trades. I thought I'd covered one trade only to find out it was still open and going against me for a loss of $1,500. I've entered 3 trades in the wrong stocks because of old eyes, and today I covered 100 shares of a 500 share position by mistake which cost me an extra commission. Still, I'm in the money. I don't know how that would been with slippage adjustment, but it looks pretty good compared to all those other setups I tested until I found my own. I need to get better at quick execution before I start trading real money on this one.

If the market gets better, I'll go back to exploiting my edge. If it doesn't; I'll trade this and look for another edge to go with it for choppy markets. I'll probably never pay for another system, but I sure appreciate this free sample. As for those poor novices who are giving their money to gurus...well there are worse places to spend their money than on 11 more setups that might work as well as this one.

 

[dxx]

Cirrus Logic Inc

CRUS Cirrus Logic Inc

Entry on CRUS 5 min chart

 

[dxx]

And out of CRUS

 

[dallavise]

Mr. Charts,
Just joined the site, and about 1/5 through this thread. Looking forward to catching up and kudos to your dedication to help others, even though you are crazy busy, and it appears crazy profitable