Best Thread How To Make Money Trading The Markets.

[Mr. Charts]

I agree with Tim's comments, this thread is about a methodology.
Anyone can test it for themselves.
It does help to have read all my posts, though, not an odd one here or there.

Judging by one or two posts and certainly by some of the questions people email me, many can't be bothered to read the whole thread. where they would find their questions have already been addressed.
Maybe in future I should just reply saying RTFT (as in RTFM).

 

[Mr. Charts]

..and before anybody says, "oh but it's too long", you don't learn to trade on sound bites...you want to learn something, put the time and effort in, it's called "work".
This and the previous posts are mainly the result of emailed questions.

 

[bfirth]

I have,with not one word of a lie, had people who work full time in an office ask me how long I spend a day trading and tell me,
"I wouldn't want to sit at my computer for 8 hours trading, I would only want to do an hour and have the rest of the day off"
It has happened a couple of times but it still shocks me.

 

[Tileman]

Maybe a question of where would vendors be without hindsight ? For a vendor to have credibility in my mind they should be able to prove themselves live and as Tim points out if they were successful in doing so would generate extra customers /income through doing this. Regarding work Richard we are all capable of lining cross hairs up on a chart so a quick call after you entered/exited would suffice you already know direction, position size prior to trade so you only have to type the price 2 seconds done. If you feel this is too much why have a thread in the first place unless you have a hidden agenda and are fishing for punters.

Regards
Graham

 

[Mr. Charts]

Tileman,
Thank you for the idea but if the purpose of this thread was as you state then that's what I would be doing if I was the person you think I am............
I trade for my living and the teaching is a side issue which I really enjoy and it gets me out from being in my trading room all the time and meeting different people. Maybe the mods will delete this and accuse me of advertising, or even ban me, but I didn't raise this, you did.
My winners and my losers all go on my private live alert site (again invite only so please nobody ask)and that's where they will remain. I don't feel a need to "prove" myself to anyone and I'm not answerable to you or anyone else; that independence is one of the reasons I trade.
I do not need to have "credibility" in your mind or anyone else's, the majority of the people I teach come to me by personal recommendation and if I didn't do any teaching then I would be trading on those days earning money anyway.
I will not get involved in flame wars/arguments etc with anyone, I've got more important things to do so I won't respond to any further similar comments of the same nature from you or anyone else.
This thread speaks for itself and I suggest anyone interested in this method tests it thoroughly for themselves - don't take my word for it.

 

[Mr. Charts]

One from this afternoon (sorry to disappoint but I haven't had a losing one of these yet....)
+31c

 

[Mr. Charts]

In fact that exit candle proved to be a swing low and it bounced from 21.40 to 21.95 afterwards.
No magic, just reading buy/sell pressures and their results on level 2.

 

[Mr. Charts]

Now if the veiled or overt attacks continue I simply won't bother taking this thread a step further into new and profitable territory, but I will not stop posting.
If people want to read this thread and see if they can get some benefits for their own trading then fine, if they don't, then also fine.
If some want to look a gift horse in the mouth, that's up to them.

 

[timsk]

Re. Richard's LNC Trade - Post #548

Anyone who pays attention to Inside bars (IB's) will note that many of the charts in this thread contain lots of them and, as in this case, they often form just prior to the entry X hairs. I don't propose to take the thread down a cul de sac about when, where and why IB's are created, as it's a subject flogged to death elsewhere. Those that are interested in them may like to glance at this thread:
http://www.trade2win.com/boards/trading-journals/43898-simple-inside-bars.html?highlight=Inside+bars
In this particular instance, the IB prior to Richard's entry shows noticeably reduced volume. This suggests that some bulls entered the fray and tried to support price - without success. Their attempts were short lived and they were soon overwhelmed by selling pressure which forced price further south. This combo' of small IB on greatly reduced volume may provide additional useful confirmation for those that want it that the bears are still very much in control of the stock.
Tim.

(Richard - if this post is not helpful or in any way detracts from the focus of your thread, let me know and I'll delete it.)

 

[Mr. Charts]

Not at all, Tim, I positively welcome constructive contributions and questions about the content of the thread.
Yours is an interesting observation and although I don't use inside bars they might also be a straw in the wind, not decisive or even tradable, but a factor to be aware of.

Thank you for the post.
Richard

 

[Jinxed]

This thread is fantastic Mr.Charts keep up the great work. I myself am using these simple techniques to create some great trades (Though not quite yet up to your standards by a long shot). The old saying is true, you can only trade your beliefs... if they can't believe it works then that's tough.

I look forward to your future posts.

 

[Mr. Charts]

Thank you for your kind words, Jinxed. I'm chuffed you are making money using this approach. I know very many people are - the silent majority
Richard

 

[Mr. Charts]

Tim,
As I said earlier, if the innuendoes stop I'll take this down a path which I think many will find increase their profits, but also your post has made me think of a side road well worth visiting; it's specifically in relation to LNC and I've taken a screen shot of its current chart which will illustrate the points I'd like to raise.
Again we'll see what happens on the thread.
Richard

 

[bangzilla]

Hey Mr. Charts, quick question.
Can we expect weeks like this week with fed meetings to be somewhat slower than other weeks (using this method)? or is it generally not affected by such events?

 

[Mr. Charts]

bangzilla,
There are times the market has a tendency to be choppy; these include the two day FOMC meetings and although they are very unlikely to alter Feds Funds or discount rates, the tone of the accompanying statement is always watched carefully for altered nuances.
We are also deep in the summer time chop, this summer having started early chop-wise. Things tend to pick up after Labor Day (Sept 7).
There tend to be fewer opportunities during choppy sessions, but they are still there. There was another trade of the same type which I did later in the UK afternoon, but to be honest after the comments made I just couldn't be bothered posting it or talking about it.
Hope that helps,
Richard

 

[DavidS]

As a long time lurker, I thought I would surface briefly to say I very much appreciate Mr Charts creating up this thread (I have read all of it!) and would be fascinated to see where the next stage leads.
All the best,
David

 

[thevinman]

Thank you Mr. Charts

Dear Mr Charts,

From every chart you post I learn something. I really appreciate the effort you put into this thread. I hope you will continue to share your trading knowledge with us.

Kind regards,

Thevinman

 

[Mr. Charts]

DavidS and thevinman,
I appreciate your posts and I'm very glad you've found useful things in this thread

Thank you as well to everybody who has emailed - I'll answer everyone as soon as I can, but it will take a while

Cracking good trading today including yet another of these set ups on MON just now


Richard

 

[bangzilla]

thanks richard, very insightful as usual =)

 

[Mr. Charts]

My pleasure, bangzilla
It turned out to be a very good day considering it was FOMC
Also got a good trade on AINV early in the day using this same method - check out the 1 min candles on AINV and the 3 min candles on MON. I took images at the time of exit of both trades but can't be bothered to post them.
Richard

PS Still haven't had a losing trade using this method since someone asked..........sorry to disappoint
There will certainly be one before long and I'll try and remember to grab the image