Best Thread How To Make Money Trading The Markets.
- Thread starter Mr. Charts
- Start date
- Watchers 310
scholfield
Established member
- Messages
- 993
- Likes
- 233
lol, are you kidding??
neil
Legendary member
- Messages
- 5,169
- Likes
- 752
it's what you use to soak up excess ink when writing a letter etc. "Blotter" soaks up ink "blots."
pI think the bracket orders are going to be a good idea. I have always used bracket orders when trading futures (ATM strategy in ninjatrader) but thought I would try trading naked as Richard does. TWS is a little clunkier than Ninja and Im still getting the hang of placing orders. For the most part I feel that I execute stop-outs without much regret, its the sudden movement that seems to be putting me at -15 to -20 on some trades which is alot more than the -5 to -10 I would like.
If you guys are using TWS and mosaic, how do you set up your screens and place orders? I find managing/closing a few trades in short succession to be clunky. Im currently using Mosaics "monitor - portfolio" window to conglomerate my open trades.
If you guys are using TWS and mosaic, how do you set up your screens and place orders? I find managing/closing a few trades in short succession to be clunky. Im currently using Mosaics "monitor - portfolio" window to conglomerate my open trades.
Mr. Charts
Legendary member
- Messages
- 7,370
- Likes
- 1,200
stefan,
Keep away from large spread stocks, and on 1 min candles limit yourself to stocks with ATRs of <8.
If on 3 min candles, then ATRs of <15.
As it happens, SNDK, AMT, ABT were also on my list, but I didn't trade them as they didn't fulfill my criteria (at least not when I was looking at them); but you probably know that if you've read my blog today.
Don't be so hard on yourself, you've just started !
I always advise people to paper trade first, not with real money. Of course there is no emotion paper trading but if you're not profitable paper trading you're not going to succeed for real, though success at paper trading is no guarantee in the real thing.
Richard
Keep away from large spread stocks, and on 1 min candles limit yourself to stocks with ATRs of <8.
If on 3 min candles, then ATRs of <15.
As it happens, SNDK, AMT, ABT were also on my list, but I didn't trade them as they didn't fulfill my criteria (at least not when I was looking at them); but you probably know that if you've read my blog today.
Don't be so hard on yourself, you've just started !
I always advise people to paper trade first, not with real money. Of course there is no emotion paper trading but if you're not profitable paper trading you're not going to succeed for real, though success at paper trading is no guarantee in the real thing.
Richard
Yes I did in fact check out today's post on your site. I like to check it out and see if I've looked at somewhat similar trades as you. I am in fact paper trading and then move to 100-200 lot trades with cash. The thought of only risking a handful of dollars per trade to start vs the sometimes hundreds in futures at a minimum is great as long as you can over come the $25,000 PDT rule.
Ill make sure to stick to the lower ATR stocks. do you recommend trading off the 1 or 3 min charts? I currently use 1 min in the morning session.
Mr. Charts
Legendary member
- Messages
- 7,370
- Likes
- 1,200
Another ETF the chart of which I always have up is TQQQ (PROSHARES ULTRAPRO QQQ) which moves at about three times the Nasdaq. Since QQQ is moving about more than SPY or DIA at the moment it's worthwhile keeping an eye on for sudden surges/plunges as well as several set ups.
Mr. Charts
Legendary member
- Messages
- 7,370
- Likes
- 1,200
I can't tell you that because they will ban me for advertising !
You could google my real name or my nick or PM or email me.
Richard
You could google my real name or my nick or PM or email me.
Richard
CostaKapo
Active member
- Messages
- 164
- Likes
- 12
Subscribed.
Apologies. I assumed it would be Ok by now due to how long you've been on the site.
Ok...googling and oogling..:cheesy:
Mr. Charts
Legendary member
- Messages
- 7,370
- Likes
- 1,200
Here's a brief analysis of a trade today using the method in this thread.
The stock was ANF and I found it pre-market from two sources:
1) it was a gapper,
2) the mixed Q3 guidance ahead of analyst day.
Market open and after a few minutes it created a high 'a' , then a low 'b', then a lower high 'c' , then a lower low 'd'.
This action constituted a classic four point trend definition.
This could have then moved anywhere and after that long one candle (3 minutes) plunge it was reasonable to expect some sort of bounce so I was looking for a convincing fall below 'd' with falling candles (as described many times on this thread).
When that occurred I shorted and exited as shown on the screen grab for 64c per share profit.
I traded ANF again a little later and lost 7c, again following my methodology of keeping any losers small.
This method (and most of the other ones I use) are applicable with only slight modifications to most trading instruments, FX, indices, whatever and also across most time frames so hopefully some people might find this post useful.
The stock was ANF and I found it pre-market from two sources:
1) it was a gapper,
2) the mixed Q3 guidance ahead of analyst day.
Market open and after a few minutes it created a high 'a' , then a low 'b', then a lower high 'c' , then a lower low 'd'.
This action constituted a classic four point trend definition.
This could have then moved anywhere and after that long one candle (3 minutes) plunge it was reasonable to expect some sort of bounce so I was looking for a convincing fall below 'd' with falling candles (as described many times on this thread).
When that occurred I shorted and exited as shown on the screen grab for 64c per share profit.
I traded ANF again a little later and lost 7c, again following my methodology of keeping any losers small.
This method (and most of the other ones I use) are applicable with only slight modifications to most trading instruments, FX, indices, whatever and also across most time frames so hopefully some people might find this post useful.
Attachments
Newtron Bomb
Guest Author
- Messages
- 1,602
- Likes
- 87
re the comments above... funny how Im just looking through the site seeing whats cooking and there are plenty of Ads that arent banned... funny how the treatment is still skewed.
Thought I would pop past and see your old thread... nice to see if still going strong... this one has been going uber strong for years..
timsk
Legendary member
- Messages
- 8,594
- Likes
- 3,320
Nothing skewed about it at all Phil - it's simply a case of no one spotting the ad' (or whatever) and, those that do, don't bother to report it. The Mods don't have the time - let alone the inclination (as they're unpaid volunteers) - to spend every waking hour trawling the boards on the off-chance they'll stumble across an ad' or a vendor without a badge etc. If you see 'em, report 'em, it's that simple!
Tim.
Mr. Charts
Legendary member
- Messages
- 7,370
- Likes
- 1,200
re the comments above... funny how Im just looking through the site seeing whats cooking and there are plenty of Ads that arent banned... funny how the treatment is still skewed.
Thought I would pop past and see your old thread... nice to see if still going strong... this one has been going uber strong for years..
Some methods just keep on working
I used to report the scammers and blatant adverts (and nastiness when directed at other people) but don't any longer.
There was a guy recently who had an ad in his avatar and his charging web site in his signature and posted very frequently. He also kept advising people to google his web site and also didn't have a vendor badge.
After I'd reported it a few times over a few days he was still allowed to continue so I said (as I'd done on other occasions) that if I had advertised like that I'd have been banned. The mod replied telling me not to complain when I reported a post.
The mod was obviously irritated by my complaint so I thought why should I bother reporting scammers and blatant adverts which were allowed to continue for many days when I got that sort of response. I understand the shortage of mods, but I felt justified when repeated reports were not acted upon.
So, no more reports from me.
Last edited:
timsk
Legendary member
- Messages
- 8,594
- Likes
- 3,320
Hi Richard,
Generally, the Mods are a good bunch who do their level best. Sure, they get it wrong sometimes (they're only human after all), and it sounds like they did so in your case. (Perhaps there was some personal 'history' between you and the Mod' concerned?) However, as I said to Phil, please keep in mind that they are unpaid volunteers and if old timers like you take the approach that you have - and post it publicly for all to read - then new members joining might follow your lead. And that would be a crying shame.
If it's any consolation, I've had more than one bad experience with Mods myself in days gone by. It's going to happen to anyone who has been around T2W as long as we have. Even so, I report posts on a daily basis because I have faith in the system and see first hand what a great job (generally) that they do. So, please reconsider your position on this. Failing that, please don't encourage others to follow your lead!
Tim.
Shakone
Senior member
- Messages
- 2,460
- Likes
- 665
re the comments above... funny how Im just looking through the site seeing whats cooking and there are plenty of Ads that arent banned... funny how the treatment is still skewed.
Thought I would pop past and see your old thread... nice to see if still going strong... this one has been going uber strong for years..
Well, since you brought up the topic, you shouldn't really have that link to youtube in your signature, as it links to an account which links directly to your vendor site. So that's a breach. I don't see how you can complain about skewed treatment when it is probably skewed in your favour. Rather than report it and give the mods more work, I thought it better to just post here.
Last edited:
Mr. Charts
Legendary member
- Messages
- 7,370
- Likes
- 1,200
Hi timsk,
There was no "history" between that mod and myself, I clearly just bugged him by complaining that I'd be banned for advertising the way someone else was allowed to. I realise mods are not available 24/7, but in this instance it had gone on for some days and I could see that mods were reading that person's posts and had decided to do nothing.
I do not wish to discourage people from reporting breaches of t2w rules, I meant that I had been "discouraged"
Richard
There was no "history" between that mod and myself, I clearly just bugged him by complaining that I'd be banned for advertising the way someone else was allowed to. I realise mods are not available 24/7, but in this instance it had gone on for some days and I could see that mods were reading that person's posts and had decided to do nothing.
I do not wish to discourage people from reporting breaches of t2w rules, I meant that I had been "discouraged"
Richard
Last edited:
