Best Thread How To Make Money Trading The Markets.

[bryan24k]

Thank you appreciate your answers. Do you ever look at Trin and Tick indicators? I have not and seem to be quite fine without them. Some people swear by them but I guess it's all presonal preferance. =)

 

[Mr. Charts]

Thank you appreciate your answers. Do you ever look at Trin and Tick indicators? I have not and seem to be quite fine without them. Some people swear by them but I guess it's all presonal preferance. =)

My pleasure. It's really nice when I answer people's questions and they say thank you
Most don't bother, even those who email me
Anyway, I'm even more pressed for time today, but I will answer your other questions over the next couple of days (tbc = to be continued).
Richard

 

[fgp]

momentum, (break of range, lower low, higher high with certain time.)
this weeks result.
W:27 total +2.63
L:22 total -1.16
net: 1.13
Asking proffessional traders, Does this number looks good or not?

 

[Mr. Charts]

bryan24k,
4. No, personally I don't though some people find them useful. I'm not going into their best use in detail, but if TICK, for example, is extremely high or low relative to the trading day so far, then a short term (minutes) reversal becomes more likely. This factor only has a relatively minor effect on momentum trading since I trade exceptional stocks not ones which move strictly in line with futures/indices.
tbc
Richard

 

[Mr. Charts]

Here's one from today using this particular method.
CF +$1.50 per share for a risk of 22c per share
I exited because it looked as if the selling pressure had abated and in this sort of steep sell off you frequently get sudden strong reversals so I decided to bank the profits.
The danger is a sudden short squeeze with everyone buying to cover their shorts.
Richard

 

[fgp]

hi mr.chart. hope alls are well with you.
I have two question.

1. During first 30min of trading say you have about dozen of chart which is being watched then, about 5 or so are setting up potential trades. if that happens, how do you place orders in such a fast market? and once you are in multiple trades, do you look at level II for all of your positions?

2.I remember you said you do not use hard stops most of times, is that the case also if you have multiple positions open? and could you tell us why you dont use hard stops?

Thanks for your time.

 

[de'trader]

Greetings Mr Charts.

I am amazed by your method trade. Very low risk and high profit ratio. Just curious how you filtered the stock in play daily?
I am a future trader and due to limited choice sometimes there're days without clear trend.

Thanks for your great posts all these days.

 

[Mr. Charts]

bryan24k,
5. Maybe i should just get in take what i can and get the heek out with quick scalps regardless of trying to add, reduce, hold onto a third, etc?

No, not unless you really understand level 2 T&S.

Richard

 

[Mr. Charts]

de'trader,
You just joined today so..................RTFT

 

[de'trader]

Okay thanks. I don't know where to start the 127 pages. Would you kindly tell me what pages i can read about?

 

[Mr. Charts]

start at the very beginning........a very good place to start

 

[SteamRoller]

Okay thanks. I don't know where to start the 127 pages. Would you kindly tell me what pages i can read about?

Start on page 1 and read it all the way through. I did this (again!) last week. Took about 10 hours, but I'm pretty familiar with the ideas, to be honest.

 

[de'trader]

Mr Charts and SteamRoller,

Thank you so much. I'll start the reading.

 

[Mr. Charts]

Lots of trades using this particular method today (and others using different techniques), but here are the three I took screen shots of at time of exit.
They illustrate that even in an up day as long as the trend is clear and strong you can short very successfully.Most people seem to believe you should only short in a down day and go long in an up day. Simply not so. Just one of the many popular myths that stop people from making money.

CELG +$1.14 per share
RRC +40c per share
HP + 47c per share

Richard

 

[timsk]

Hi Richard,
Nice going!
Would I be right in thinking that you closed the CELG trade just below the RN? I ask as most peeps (i.e. me!) would have exited as price approached the RN for fear of a bounce. If price was moving with some momentum and I held on as it breached the RN, I would have been watching out for a pullback. If this materialized with small candles on low volume, I would then try to hold on in expectation of a further price collapse. On the other hand, if there's evidence of buyers coming in in force - then I'd head for the exits. It looks as if you didn't play it this way at all which, I dare say, is why you're a fraction more successful at this game than what I is! I'm guessing your answer will be that you could see things happening on level II that aren't/weren't apparent on the chart?

Tim.

 

[Mr. Charts]

Hi Richard,

Hi Tim,
Nice going!
Would I be right in thinking that you closed the CELG trade just below the RN?
I closed it at the point shown as always.
I ask as most peeps (i.e. me!) would have exited as price approached the RN for fear of a bounce. If price was moving with some momentum and I held on as it breached the RN, I would have been watching out for a pullback.
I was too.
If this materialized with small candles on low volume, I would then try to hold on in expectation of a further price collapse. On the other hand, if there's evidence of buyers coming in in force - then I'd head for the exits.
That is exactly what happened and yes, I saw strong buying on level 2 with big players bidding the price up and people covering and sellers pulling out. It was so strong I did indeed close my position.
I must add that volume frequently does not behave as you'd expect or read in books on retracements.
As it happens that final red candle on the chart ended up being the low of the entire day.
Others professional players clearly recognised the bid strength at that level as it formed and it was never even challenged - tested - again all day. It looks as if you didn't play it this way at all which, I dare say, is why you're a fraction more successful at this game than what I is! I'm guessing your answer will be that you could see things happening on level II that aren't/weren't apparent on the chart?

Tim.

Best wishes,
Richard

 

[fgp]

mr. chart. do you trade 1 stock at a time or do you get into multi positions?
thanks

 

[Mr. Charts]

Sometimes, if the stocks are slow moving.

 

[Mr. Charts]

Six trades today so far, three of them using the technique on this thread.
The full list of trades is on my blog on my own home page (click on my name - home page - blog) and will be from now on.
Two losers
-8c
-6c
One winner
+75c

Here's the successful one.
I exited before the chart exit rule because the selling had stopped dead after a volume blow off.
Richard

 

[fgp]

Brilliant trades. Great looking blog. Superb entry and exit.

Amazing and Inspiring.
Thank you for letting us see them.