How To Make Money Trading The Markets.

Mr. Charts

Legendary member
7,364 1,181
Mr Charts, please don't go to any effort but can you recall when your last red day was?
No, actually, I can't, it was certainly a long time ago. I know this seems impossible to people who don't know how and when I trade.
Not having losing days is a reflection of several factors, of which these are just a couple.
I usually get good gains in the first half hour and that tends to set me up for the day. I use about eleven different set ups as well as the one in this thread and they tend to trigger in different market situations. If I find that I have a couple of consecutive losers in a day I tend to become much more of a cautious and defensive trader as those losers tend to show moves are becoming less reliable.
I also use position sizing so the greater the unpredictability the more conservatively I trade or I simply stand aside until conditions improve on the day.
I've been trading for a living since 2000 and part time before that so I tend to know what I'm doing. One of the things that experience results in is that any mistakes I make are infrequent, though they still happen. Obviously trading is a probability business and although the future cannot be predicted with any certainty you have to understand how to keep probability strongly in your favour by doing the right thing at the right time. This involves strict mental self control. Some say pro traders don't feel emotion, but that's easy if it's someone else's money they are trading. If it's your own that's different.
Personally I still feel emotion even after all these years, and that might be a weakness on my part, BUT I have trained myself to ignore my emotions whilst trading, so it's not a problem.
 
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hatemypips

Established member
538 39
No, actually, I can't, it was certainly a long time ago. I know this seems impossible to people who don't know how and when I trade.
Not having losing days is a reflection of several factors, of which these are just a couple.
I usually get good gains in the first half hour and that tends to set me up for the day. I use about eleven different set ups as well as the one in this thread and they tend to trigger in different market situations. If I find that I have a couple of consecutive losers in a day I tend to become much more of a cautious and defensive trader as those losers tend to show moves are becoming less reliable.
I also use position sizing so the greater the unpredictability the more conservatively I trade or I simply stand aside until conditions improve on the day.
I've been trading for a living since 2000 and part time before that so I tend to know what I'm doing. One of the things that experience results in is that any mistakes I make are infrequent, though they still happen. Obviously trading is a probability business and although the future cannot be predicted with any certainty you have to understand how to keep probability strongly in your favour by doing the right thing at the right time. This involves strict mental self control. Some say pro traders don't feel emotion, but that's easy if it's someone else's money they are trading. If it's your own that's different.
Personally I still feel emotion even after all these years, and that might be a weakness on my part, BUT I have trained myself to ignore my emotions whilst trading, so it's not a problem.
What's your trading setups are based on? Technical or fundamental analysis? Math?
 

awe

Active member
117 7
If there is anyone that has been on Mr Charts course and has been trading his methods I would be very keen to talk to you in private. I think the results are very impressive and I'm keen to see what other traders who have learned from Mr Charts own experiences in their trading are.
 

adrian247

Junior member
20 2
Bildschirmfoto 2019-03-09 um 20.50.59.png


By now, I’ve learned to see the market as an always changing jigsaw nobody is able to solve. However, collecting those pieces trough discretionary analysis, coupled with inputs from quantitative tools, enables to find situations where the risk-reward leans heavily on the latter.

In general, there is no tool or strategy working all the time. But an experienced trader will use the appropriate tools in a certain market regime.
 

hatemypips

Established member
538 39
View attachment 260843

By now, I’ve learned to see the market as an always changing jigsaw nobody is able to solve. However, collecting those pieces trough discretionary analysis, coupled with inputs from quantitative tools, enables to find situations where the risk-reward leans heavily on the latter.

In general, there is no tool or strategy working all the time. But an experienced trader will use the appropriate tools in a certain market regime.

Could you please explain more how to use the data from this chart to better understand the movements of oil prices, thanks.
 

adrian247

Junior member
20 2
Could you please explain more how to use the data from this chart to better understand the movements of oil prices, thanks.
Sure, in my opinion the oil market has some conflicting signals right now.

1. Medium-trend is down (trend) -> bearish
2. The up move is time wise old (cycle) -> bearish
3. First half of the year crude oil is strong (seasonality) -> bullish
4. COT data are bullish (commercial lifted hedges) -> bullish

The beauty in trading is we do not have to trade markets with a lot of conflicting signals. -> better to trade gold right now
 

hatemypips

Established member
538 39
Sure, in my opinion the oil market has some conflicting signals right now.

1. Medium-trend is down (trend) -> bearish
2. The up move is time wise old (cycle) -> bearish
3. First half of the year crude oil is strong (seasonality) -> bullish
4. COT data are bullish (commercial lifted hedges) -> bullish

The beauty in trading is we do not have to trade markets with a lot of conflicting signals. -> better to trade gold right now
Do you mean that gold price action is currently issuing clear signals? I don't think that it is easy as you assume.
 

Mr. Charts

Legendary member
7,364 1,181
With respect, this thread is not about the gold or oil markets so perhaps posts on those subjects are better posted elsewhere?
 

Mr. Charts

Legendary member
7,364 1,181
Dear Imran,
I'm very sorry to hear about your dad.
May he rest in peace.
Richard
 

Mr. Charts

Legendary member
7,364 1,181
Due to domestic interruptions I've only been able to trade twice today. Once I used a different set up to the one in this thread and made a small loss.
However this method paid off yet again. Actually it was +78c. Typo on image
15032019AMAT.png
 
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