Best Thread How To Make Money Trading The Markets.

[Blaiserboy]

The criticisms are rather boring and take up space in the thread, besides, they are not very objective and as such are of no value, just a reflection of the writer's negativity and lack of knowledge.

Anyone can pretend to know how to criticize.. and also demonstrate their lack of knowledge about trading...... what we need are people who know what they are talking about, who can see the lessons being displayed in the thread.

 

[coopster]

Hi S_L,

I like the thread and also admire your bravery for questioning it. Mr Charts has lots of followers and friends on here that don't like seeing him criticised. He himself stays out of it most of the time.

I have taken this thread in context with others that i've read plus personal experience and maybe i am percieving stuff that previously would be unclear in this thread alone.

It comes down to how much time someone has. Maybe J16 or Jacko could devote more time to helping others for free with only self satisfaction as a suitable reward. I know if i had a skill that other people wanted to learn about, i'd want to charge for it !

Good trading!

 

[avasfx]

Hello Richard, i would like to suggest something. You only post nice screenshots and the result. But why this stock came to your list? - Upgrade\downgrade, gap, some screener, etc...

 

[Mr. Charts]

Again thank you to those positive contributors and again to all those who have emailed me

avasfx,
Thank you for your excellent idea. I'm perfectly happy to mention why the stock came to my attention in any future posts - gapping, scan result, news story whatever.
I hope you might find that useful.
Please note I do NOT trade on the basis of news stories (except very rarely) but on whether a news stock's price movement produces one of the dozen set ups I use and whether that set up triggers or not.
I rarely trade on the basis of price reaching a certain specific level, it depends on what the price action is and buy/sell pressures.
Again, thanks for the suggestion,
Richard

 

[the hare]

P.S Statistically, even with a very high probability setup & W:L ratio you will sometimes get a string of losers. I have as of yet not seen this in Chart's thread. Perhaps he lives in some kind of parallel universe where such things don't happen

This is exactly what Zupcon pointed out on one of the trading forums recently when asked about Mr Charts.

I appreciate that anyone dumb enough to look at a foum for ideas and inspiration isnt really cut out for this business, and they get what they deserve, but we have to realise, some people actually believe the nonsense they see posted at T2W. Senior members setting unrealistic expectations in new traders is extremely damaging, and the situations made worse when T2W moderators and staff defend and validate those claims.

They should hang their collective heads in shame, but they have a living to make, and presumably they have no other marketable skills they can rely on.

 

[spreader_legger]

Great to hear Blaiserboy (whether you're real or the result of proxy server)

I'm still waiting for lesson 1

The criticisms are rather boring and take up space in the thread, besides, they are not very objective and as such are of no value, just a reflection of the writer's negativity and lack of knowledge.

Anyone can pretend to know how to criticize.. and also demonstrate their lack of knowledge about trading...... what we need are people who know what they are talking about, who can see the lessons being displayed in the thread.

 

[Mr. Charts]

Trying to wreck the thread is one thing, making libellous statements and lying is another.For the normal reader of this thread, Stefan and his friends are simply trying to smear me.
Someone once said ERTS was unshortable after I'd shorted it. Not correct. Some people have no idea about shorting rules anyway.
I have lectured, by invitation, at a hotel in Central London and at the Bloomberg Centre. Several years ago another trader and myself did a small joint seminar at an hotel and that was attended by a moderator of t2w who then publicly reported his views on t2w.
I am not prepared to enter flame wars but he has over stepped the mark with outright lies and libel and I'm not going to let that go unanswered and will take any necessary action.

 

[Tileman]

One way of silencing your doubters and i am one of them is to post your trades live for a period of time, you have nothing to lose Mr Charts or do you ????

 

[barjon]

spreader_legger

In view of your "feeling that this whole operation must be potentially TW2 management orchestrated" I am reluctant to delete or edit your post even though it has gone beyond legitimate criticism.

It is not acceptable to toss words like sham, scam, charlatan around willy-nilly. Any more of it will be deleted.

jon

 

[glyder]

Spread legger

You can take it or or leave it.
We all can.

 

[PitBull]

I thought I'd come on here to give my view to all the doubters.
Mr c's method uses level 2 for his trigger, once the chart has set up. It takes a lot of time to get used to reading the tape, some give up after a little while as they can't be bothered. If you were a member to his private site, you would see his losers. Yesterday he had 2. But then 6 winners. You will notice that he doesn't like losers so he will then scratch the trade.

He is not a scam or charalatan, but a very honest and true professional. No doubt the doubters would also question Alan rich!!! He posts his pnl on his site but you'll probably think its forged.

Why don't you join his site and you might learn something. Oh sorry its only by invite.

I agree with all what timsk has said.

Now leave the thread to continue on trading matters.

 

[spreader_legger]

Hey there Barjon.

I might have jumped the gun a bit there .... its just that I got a message from a previously well respected member of TW2 and got this information from him.

Consequently my last communication is basically second hand information & could be wrong

Ofcourse you have my permission to delete it ....

spreader_legger

In view of your "feeling that this whole operation must be potentially TW2 management orchestrated" I am reluctant to delete or edit your post even though it has gone beyond legitimate criticism.

It is not acceptable to toss words like sham, scam, charlatan around willy-nilly. Any more of it will be deleted.

jon

 

[Blaiserboy]

The lesson that I have gleaned from this thread are as follows.....

Use a scanner daily to locate patterns that I can adapt to my own criteria. I do not trade stocks intraday, I use FcPro and Bulkowski's patternz to scan approx 12,000 instruments EOD and I adapt the results and lessons to an automated system

I do not look to follow Mr Chart's logic precisely, I try to adapt what he shows to my own thinking and system.

As far as wanting to determine his win loss record, I would not be interested as he is a discretionary trader and he may have a very high profit factor in his trading whereas I may mess up the same entries.

Mr Charts would frown on the scans that I use, mine are for a different application.

As I said at the start of the post... what I have learned from the thread is to develop some skill in using a scanner to see what I can use, I had never had much faith in scanning until I saw what he has accomplished.

 

[timsk]

Excellent post Blaiserboy - and a fine example of what a forum like T2W can be and should be - at its very best, IMO.

Someone posts an idea - or methodology in this case - which another member reads and, for the most part, feels there's little in it that's especially pertinent to their own style of trading. Nonetheless, contained within the thread are one or two ideas that they pick up, adapt to their own style and, as a result, are able to modify their own trading practice for the better. This is the essence of what is the very best of forums like T2W. If we all just read everyone else's posts with this same detached objectivity - with the view to seeing how the ideas, methods and philosophy of others can help, inform and improve our own trading - then there would be no need for all the lulzy nonsense that some members appear to revel in.

It's not about whether the methodology described here 'works' or doesn't work. That's completely irrelevant, not least because it's completely free and no one has to give it a second thought if they don't like it. It's about sharing ideas from which anyone can benefit - even those who trade different markets in different timeframes etc. This basic principle applies to all threads across all T2W forums - not just this one. Blaiserboy's post lies at the very heart of what I think is best about T2W, why I love the site and why I do the job that I do. Well done Blaiserboy - all credit to you!
Tim.
P.S. Yes, just in case anyone is wondering, I've enjoyed a glass or two of Vina Sol this evening!
:cheesy:

 

[Blaiserboy]

I just purchased Amibroker, so that I can do a better job with scans. Once I get a handle on how it operates I will get the real time version and a worthwhile data feed and see about intraday scanning.... Then I might have something that I can contribute to the thread.

I am sure that there may be some additional set ups that people can use.

 

[longy87]

phew, just finished reading all 165 pages, took most of today to read. :cheesy:

Some excellent stuff in here Mr Charts, thanks for sharing.

Going to have a go trading this set up starting next week, 6-9pm GMT after I get home from work. All seems pretty clear regarding entry/exit criteria, the difficulty I am anticipating will be in actually finding stocks that match the criteria from the scans. Will see how I get on anyway, will update how I get on.

Thanks again.

 

[DionysusToast]

Hey there Barjon.

I might have jumped the gun a bit there .... its just that I got a message from a previously well respected member of TW2 and got this information from him.

Consequently my last communication is basically second hand information & could be wrong

Ofcourse you have my permission to delete it ....

What a knob!

At least come forward with your own opinions or have the nuts to have a chat one on one with Richard. He's very approachable.

 

[bagool]

phew, just finished reading all 165 pages, took most of today to read. :cheesy:

Some excellent stuff in here Mr Charts, thanks for sharing.

Going to have a go trading this set up starting next week, 6-9pm GMT after I get home from work. All seems pretty clear regarding entry/exit criteria, the difficulty I am anticipating will be in actually finding stocks that match the criteria from the scans. Will see how I get on anyway, will update how I get on.

Thanks again.

What is the optimal entry point in this setup? Is entry simply made following any candle which has a lower high than the previous candle in a downtrend, the converse applying in an uptrend?

What are the criteria for stock selection to which this setup applies?

I would be grateful for any summary you may be able to supply on these aspects.

 

[coopster]

Hi Bagool,

I don't think it is really much to do with what the candles are doing as such. It's more about readable, emerging buying/selling pressures on level 2. This results in differing candle patterns as you should have noticed in the charts posted on this thread. Optimal entry is just before everyone else! :cheesy:

Stock selection is based on news of the day and stocks that happen to be moving with momentum in one direction or making new highs/lows picked up by a scanner. Many stocks are weeded out due to low average trading volumes or crazily large Bid/Ask spreads etc.

Mr C may elaborate if you ask him nicely. He will of course expect you to have read all of this thread first.

 

[sir paul]

I just found this thread and I will read it from start to finish. I hope to learn a great deal. I am very excited!