How To Make Money Trading The Markets.

Naz

Experienced member
1,391 22
Hi Richard, Just checked into T2W again and it's only natural I should find my way here to this thread.

As Richard says if you are sensible day trading the US markets is a great way to earn a living. I've been doing it since 1999 the same as Richard. At the moment I'm trading the SKF on a regualr basis.

All the best

Alan
 

Naz

Experienced member
1,391 22
I like to look for good intra day swings and the SKF gives me that. Here you can see the divergence in the ocillator gave me the heads for the next swing move up.

The SKF can be quite volatile so FAZ is a good alternative.

skf4.gif
 

Mr. Charts

Legendary member
7,364 1,181
This particular set up occurs every day.
Here's one this afternoon.
+$1.66 per share

The initial WORST CASE SCENARIO stop was the top of the entry candle, 36c away. If you are trading without the benefits of reading level 2 (the third dimension) and merely use charts (two dimensions) you simply adjust your position size to the greatest loss you are prepared to accept.
If you use level 2 then IF it is readable (and it isn't always) then use change of momentum in buy/sell pressures for a much tighter stop loss.
Richard

PS Red X hairs on point of entry, image grabbed at time of exit - as usual.
 

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Mr. Charts

Legendary member
7,364 1,181
This was a 3 min swing trade, rather than a scalp.
Why did I cover before the chart rule of the high of the previous candle being taken out?
Level 2 told me instability was coming in as the smoothness of the sell pressures became erratic and the buy pressures changed plus T&S demonstrated that potential instability was starting to actually happen.
This resulted in 52c more profit than if I'd waited for the chart signal to occur.
This is an image of what happened later.
Richard
 

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Mr. Charts

Legendary member
7,364 1,181
This set up doesn't always work, nothing does, so here is a loser from a few minutes ago.
Worst case stop loss at top of candle was 19.05, 17c away, but that is literally the worst case scenario.
When the momentum changed on me I exited the trade for a loss of 2c
Richard
 

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Mr. Charts

Legendary member
7,364 1,181
It's rare not to be able to find this particular set up !
Entry on the red X hairs on break out and exited at time of screen shot because level 2 T&S warned me of possible instability ahead so I didn't wait for the usual chart exit signal.
Nice swing trade on 3 min candles
+89c per share

Richard
 

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foredog

Experienced member
1,879 313
In laymens terms i'd say it's a short term trend-continuation method.

If it's going down, then pauses then takes out the lows the trend is probably continuing.

I guess you could apply it to any time frame really if you find the smaller ones a little too low brow for your trading
 

Mr. Charts

Legendary member
7,364 1,181
Here's another today - one of several of this particular set up.
It's basically what I call a bread and butter earn your living steadily type trade.
+32c per share.
I didn't wait for the chart exit signal as I could see on the chart - and it was confirmed by the support on the level 2 screen - that it was unlikely to go down further in the near future , or at least probably not by much; hence it was time to take profits.
Sometimes it's not worth trading much during the US lunch time, but if the money is lying there waiting to picked up.........
Richard
 

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barjon

Legendary member
10,209 1,524
Why do people always want to pick holes in people giving something for nothing?

You see it many times on here. People post the how and why they trade and take time to answer all questions and all they get is people saying "your method's crap, it won't work etc etc"

If you like it demo trade it or trade it small until you're sure it works for you.

If not either post sensible reasons why it will not make consistent money or leave the thread.

I haven't seen Richard or others that post here using this as a platform to recruit new members to their commercial activities. (and those that do are usually told to forget it asap by other members) They just seem to genuinely want to help the people who are a bit lost onthe market.

Guess that's human nature though isn't it.

ps this isn't aimed directly at pips-galore, it happens quite often on T2W and i guess it's just me having a general rant.
I'm real glad you had your rant, foredog :)

You're so right that this often happens on T2W - and then when we try to do something about it up go the cries of favouritism etc etc :rolleyes:

It's absolutely fair dinkum to disagree and criticise what is being said, but it is not right for people to start attacking the person who is saying it. In this thread Mr Charts has advanced a methodology and it is that which matters.

So, we mods are going to don our flak jackets and clean up the thread later on. We'll probably ruffle a few feathers, but so be it.

Cheers

jon

ps: cleared out 27 of the recent posts - but leaving this one for the moment in case you wonder where your posts went!!

Apologies to those who posted good and reasonable stuff.

jon
 

notlob

Junior member
15 2
Mr Charts, I was wondering if we would see a chart of CTAS from last Wednesday, it was a thing of great beauty as the chart (1 min) marched very steadilly without retracement all the way past the days high to give a gain approaching $2. CTAS was in the news that day, did that share fit your criteria?

More modest a move, XRX on Friday gave a nice 40c for very little risk, another news stock that trended, can I ask if that one was also on your list?

Thank you again for this excellent thread.