How To Make Money Trading The Markets.

Mr. Charts

Legendary member
7,364 1,181
This technique, as I said, works in most time frames, but you have to allow for greater intra candle range in your position sizing and risk control if you use charts only.
I'm keeping my eye on CRM and FAST over the next few days, just in case they set up.
Richard
 

Mr. Charts

Legendary member
7,364 1,181
This is the LEH trade I mentioned in post #73 on Tuesday.
Again the pattern is the same.
This move was for a very satisfactory $2.69 per share :)
Again X hairs on the entry and screenshot at the time of exit.
It looked like a potential volume blow off, so I was alert to that, although they can go on longer than you think and in any case this is about trading what you see.
Although it's not visible on the chart, the buys and sells became erratic and wide ranging on the bid and ask sides and sometimes that increased instability indicates a posssible imminent reversal. Time to take profits whilst they are still there.
Richard
 

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Mr. Charts

Legendary member
7,364 1,181
I don't mind questions via EMAIL, which does seem to cut out some of the silly ones sent via PM (which I will no longer read).
This sort of thing,
"is charting/technical analysis different from proprietary trading?"
What can I say?
Richard
 

BSD

Veteren member
3,819 984
I don't mind questions via EMAIL, which does seem to cut out some of the silly ones sent via PM (which I will no longer read).
This sort of thing,
"is charting/technical analysis different from proprietary trading?"
What can I say?
Richard
Lol !

Sounds like a case for him:

 

the blades

Experienced member
1,336 275
I don't mind questions via EMAIL, which does seem to cut out some of the silly ones sent via PM (which I will no longer read).
This sort of thing,
"is charting/technical analysis different from proprietary trading?"
What can I say?
Richard
Richard,

For all your dozen set-up's, who many candidates do you generate from the day before?

How many do you subsequently track in real time during that day (ie what % are discounted by news or opening price action).

How do you susequently track these during the day - do you follow each candidate visually or have you further screens programmed into your software?

How many hours of each trading day do you follow the market - do you follow the mid day lull?

Thanks in advance,
UTB
 

Lightning McQueen

Moderator
4,868 779
I don't mind questions via EMAIL, which does seem to cut out some of the silly ones sent via PM (which I will no longer read).
This sort of thing,
"is charting/technical analysis different from proprietary trading?"
What can I say?
Richard
Name and shame, oh go on :D

Am I being thick here?, I fail to see the mental/technical barrier that keeps the pm system to certain types of user vs the email system. and why silliness is confined to pm :confused:
 

Lee Shepherd

Senior member
2,164 570
"is charting/technical analysis different from proprietary trading?"

What a joke.

It's fundamentals which is the same as proprietary trading as they are both news reading instruments to trade with.
I use prop trading with my 10 systems and 30 indicators.

Some people.
 

Mr. Charts

Legendary member
7,364 1,181
Richard,

For all your dozen set-up's, who many candidates do you generate from the day before?

Normally very few.

How many do you subsequently track in real time during that day (ie what % are discounted by news or opening price action).

Even fewer

How do you susequently track these during the day - do you follow each candidate visually or have you further screens programmed into your software?

I have a list of stocks which is added to from scans and often stocks are removed if they don't move much, if volume is too low, etc.
In other words the list is fluid. I monitor them in two ways.
Firstly, they are in a quote box which I can quickly scroll down at a glance.
Secondly, I have six charts up on another monitor of those stocks which need closer attention because they look likely to set up one of those dozen situations.

This might sound complicated, but it's less complicated than driving. Once you get used to dealing with a fluid scenario, and gain experience, it's as easy as driving.


How many hours of each trading day do you follow the market - do you follow the mid day lull?

I sometimes trade premarket. I often finish about 5.30 to 6 UK time and then sometimes trade the evening session as well.
One of the many reasons I think US stocks are good to trade is that people with a day job can come home in the evening and trade till market close at 9

Hope that answers your questions,
Richard
Thanks in advance,
UTB
Richard
 

Mr. Charts

Legendary member
7,364 1,181
Lightning McQueen,

You have email.
 

R.Wilson

Junior member
22 4
Hi Mr. Charts,
Can I ask you about your trade entries..

On the examples so far you seem to be showing just basic directional break-out trades with your entries on the break of the usual standard cardinal price points (25,50,75 &100).

Surly with reading Price action, the most prudent entry point is always on the momentum loss sideways action around these cardinal price points, rather that being late to the party on the actual break as this leaves you more exposed to failure?

The old saying Buy on Red & Sell on Green is very appropriate when looking to trade directional momentum break-out trades.

Thanks
R.W
 

Windowsill

Well-known member
305 39
Hi Mr. Charts,
Can I ask you about your trade entries..

On the examples so far you seem to be showing just basic directional break-out trades with your entries on the break of the usual standard cardinal price points (25,50,75 &100).

Surly with reading Price action, the most prudent entry point is always on the momentum loss sideways action around these cardinal price points, rather that being late to the party on the actual break as this leaves you more exposed to failure?

The old saying Buy on Red & Sell on Green is very appropriate when looking to trade directional momentum break-out trades.

Thanks
R.W
Was this supposed to be a question ?

Whats the point of mentioning Cardinal points when clearly this is not the case and totally inapproriate to the topic of the thread.

Mr Charts has clearly said and shown his method. If you then disagree, why don't you start another thread .....with your thoughts.......or give some evidence as its soooo "Surely.........very appropriate"

If you think its sensible to buy on red, then go ahead and demonstate.

Here Mr Charts is looking for a non volatile, gently trending instrument that is unlikley to go red when he wishes to buy, as that would be the exit.
 

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