Best Thread How To Make Money Trading The Markets.

[Mr. Charts]

Depends. Outside results season, half an hour; during results season more than an hour.

I've never worked that out as it's irrelevant.

There are no short cuts to doing something properly.
Learning, knowledge, time, effort, work, experience, self-control all matter in trading like in most things in life.

 

[stasbz]

Mr. Charts

Why dont you trade Europe stocks?
As i understand you live in UK. I think it is more comfortable to trade in the morning than afternon.
Are there any serious reasons for that?

p.s. id like also to trade european stocks, it is my timezone.

 

[Mr. Charts]

Read my website for reasons

 

[evostik]

Hi Richard

For the last few trading sessions I have struggeld with lots of fake-outs. I am not sure if its bad trade selection or just statistically reasonable drawdown. Anyway, I was wondering if you avoid certain market conditions to cut down on being chopped out? I seem to struggle the most when the market opens with a big gap up, or rallies fast for the first 30 minutes and then drips down all day.

Any comments appreciated.

Thanks
Steve

 

[stasbz]

Read my website for reasons

Ok. i understand.

id like to ask you about MM in level2. i see many stocks (5-10m shares volume) and cant see any MM (list of them here Top Ten Liquidity Providers and here Market Makers and ECN - Traders Laboratory Forums). So i dont see any MM, but only ECN. but in your videos i see some MMs.
is it normal that i dont see MMs?
What data provider do you use?

 

[juniorh]

Read my website for reasons

Hi Mr Chart,

Thank you for all the invaluable information that you have provided on this thread. As a trader of US Indices, I'm interested to hear why you trade US stocks instead of US Indices; is just preference or some other reason?

 

[Mr. Charts]

Hi Richard

For the last few trading sessions I have struggeld with lots of fake-outs. I am not sure if its bad trade selection or just statistically reasonable drawdown. Anyway, I was wondering if you avoid certain market conditions to cut down on being chopped out? I seem to struggle the most when the market opens with a big gap up, or rallies fast for the first 30 minutes and then drips down all day.

Any comments appreciated.

Thanks
Steve

Drop me an email (not a pm) and I'll see if I can help.
Richard

 

[stasbz]

Mr. Charts, do you apply large stoploss or small?
i mean: do you try to enter many times by applying small stoploss and at the end to ride big movment?
Or do you try to apply big stoploss (of course we can exit befor our stoploss will be hit if we feel that something is going wrong) and again to ride big movment?
so what your average win/lose ratio?

 

[Mr. Charts]

Stops have been explained in this thread already.
Ave win:ave loss ? I'm not answering that - all the trolls would be out saying it's impossible !

 

[stasbz]

Stops have been explained in this thread already.
Ave win:ave loss ? I'm not answering that - all the trolls would be out saying it's impossible !

it is quiet easy to say. you can have 30/70 win/loss ratio if your stoploss 1c and profit about 20c or 70/30 win/loss ratio if your stoploss 5c.

How many stocks on average do you have on your list before market opens?

 

[stasbz]

Ones which I find pre-market and using scanners during market hours - and which produce any of the 13 set ups I use.

on average how many stock charts do you look at/monitor during RTH?

 

[zhchong]

How many of your trades end up with a few cents loss or roughly break-even after commission?

I have been testing this method for a while. While I occasionally catch a few winners, most trades are fruitless. The really successful trades (>25c profit) are few and far between, generally no more than 4-5 trades per day. I wonder if I have been doing this wrong, because a large portion of the profits for the winning trades end up paying for the losers and commission.

 

[stasbz]

Mr. Charts dont want to answer our questions!

 

[Mr. Charts]

zhchong,
Drop me an email, (not a PM), and I'll see if I can help.
Richard

 

[Mr. Charts]

You can adapt this method as in this example from today.
Reversal candle followed by doji followed by break above high of doji suggests the probability of a continued rise is high, not certain, but high. Trading is a business, a probability business, not a certainty.
CVI +68c per share.

 

[evostik]

Hi - sorry but I am having trouble loading the ticker. Could you possibly confirm stock name and exchange?

Thanks in advance
Steve

You can adapt this method as in this example from today.
Reversal candle followed by doji followed by break above high of doji suggests the probability of a continued rise is high, not certain, but high. Trading is a business, a probability business, not a certainty.
CVI +68c per share.

 

[Mr. Charts]

Hi Steve,
CVR Energy Inc. Common Stock(NYSE: CVI )
It looks as if I nailed that swing from near the bottom to the top.
Richard

 

[evostik]

Thanks Richard, I see now. When I enter CVI on TWS it brings up the NAME of the stock (CVR) rather than CVI (if you see what I mean) - my bad

Anyhow, nice one. Great trade.

Cheers
Steve

Hi Steve,
CVR Energy Inc. Common Stock(NYSE: CVI )
It looks as if I nailed that swing from near the bottom to the top.
Richard

 

[amit1986]

You can adapt this method as in this example from today.
Reversal candle followed by doji followed by break above high of doji suggests the probability of a continued rise is high, not certain, but high. Trading is a business, a probability business, not a certainty.
CVI +68c per share.

'twas an absolute beaut, and with the lovely momentum on level 2, it warranted an 'extra large' position size ;-)

good change from the usual choppiness this week.

 

[Mr. Charts]

Steve,
When I imput CVI into TWS it comes up as.......CVI.

Amit,
Yes, it was a nice one, wasn't it ?
And that lovely L2 T&S momo said it all, didn't it just ?
Richard