John Carter's Book

[luckyd1976]

Has anyone had success using his 8ema/21ema daily trends?

 

[rathcoole_exile]

Has anyone had success using his 8ema/21ema daily trends?

yep, use it on daily charts - but whereas he recommends buying Calls, I use the same set up to sell Puts ....successfully ....

 

[luckyd1976]

yep, use it on daily charts - but whereas he recommends buying Calls, I use the same set up to sell Puts ....successfully ....

I've just started playing w/pages 303-310. His Rec of <30% premium (pg305) Is DEAD ON but that usually equals @ .75 Deltas and I found better results bumping up to @.90 deltas. I've also tweaked the 8/21 to 10/21.

I Like the 21 (perfect monthly line) but wanted the 50/50 split more for smoother.

Pro = $ moves more with the higher deltas and very low cost premiums paid <10%.
Con = More capital outlay per position.

So far so good but small sample size. Hoping I can add this strategy to my MidTerm Ports.

Are you waiting for the 8 pullbacks? Or just taking the cross?

 

[Chorlton]

Can I ask what Book everyone is referring to? Just interested....

Thanks....

 

[rathcoole_exile]

Mastering The Trade, John F Carter
ISBN# 0-07-145958-8

I've read Murphy, Hull, Nison, Crabel, "livermore", Bulkowski, Bernstein, Elder, Van Tharp, Raschke, Douglas etc etc
but Carter's book is the only one I will ever recommend to anyone, it's the best I have come across

he also does a free daily video at his website tradethemarkets.com for which no credit card or mmbership details are required; and it's quite simply the best trading education available

 

[gotmessner]

Rathcoole - gotta ask:

Why do you put livermore in quotation marks?

 

[rathcoole_exile]

i understand it was a biography, 3rd party, written posing as a 1st party autobiography .... allegedly

 

[Chorlton]

Mastering The Trade, John F Carter
ISBN# 0-07-145958-8

I've read Murphy, Hull, Nison, Crabel, "livermore", Bulkowski, Bernstein, Elder, Van Tharp, Raschke, Douglas etc etc
but Carter's book is the only one I will ever recommend to anyone, it's the best I have come across

he also does a free daily video at his website tradethemarkets.com for which no credit card or mmbership details are required; and it's quite simply the best trading education available

Cheers Rathcoole...... Can I ask why you rate it so highly?

 

[gotmessner]

i understand it was a biography, 3rd party, written posing as a 1st party autobiography .... allegedly

Ahh... I thought you were talking about Livermore's How to trade in stocks - which he did write.

 

[cleon]

Mastering The Trade, John F Carter
ISBN# 0-07-145958-8

I've read Murphy, Hull, Nison, Crabel, "livermore", Bulkowski, Bernstein, Elder, Van Tharp, Raschke, Douglas etc etc
but Carter's book is the only one I will ever recommend to anyone, it's the best I have come across

he also does a free daily video at his website tradethemarkets.com for which no credit card or mmbership details are required; and it's quite simply the best trading education available

Rathcoole,

What do you think of his site and the training? (I.e., can you elaborate on what you think of his monthly service)

 

[rathcoole_exile]

cleon,
I don'y subscribe to his monthly service, just 'cos I'm not a subscribing kinda guy.
But I do watch his free daily video, in which he always has something of interest to say.

Many of the techniques he discusses in his book he has either dropped or only discusses on the monthly service 'cos the freebie video is mostly only talking about the 8/21 MA play as mentioned by the OP, or more usually the 512 Tick "squeeze" play

I've attached a screenshot to show the 512 squeeze fired off short nicely just earlier, good for 8 or 9 points on ES (I only took "just" the 4 points)

in a world full of charlatans and frauds, Carter comes across as one of the few genuine, knowledgeable and truly helpful guys around.

(I have no affilitaion with his company btw)

r_e


p.s the squeeze is when volatility reduces prior to firing off again
(yellow bollinger bands inside white Keltner Channel indicate consolidation; initiate trade when the BBs move outside the KC again)
typically, use Momentum to confirm direction of trade as Exit signal

 

[rathcoole_exile]

Cheers Rathcoole...... Can I ask why you rate it so highly?

just good, clear, logical explanations, insights, assessment of market psychology (who's feeling the pain ?), money management, trading plans etc as well as some cracking trade set-ups.

I suggest you log on to his site (it's free) and get the daily video, see if you agree with me that this guy seems to know what he's talking about ......

(tradethemarkets.com) - and I have no affiliation with them whatsoever

r_e

 

[cleon]

cleon,
I don'y subscribe to his monthly service, just 'cos I'm not a subscribing kinda guy.
But I do watch his free daily video, in which he always has something of interest to say.

Many of the techniques he discusses in his book he has either dropped or only discusses on the monthly service 'cos the freebie video is mostly only talking about the 8/21 MA play as mentioned by the OP, or more usually the 512 Tick "squeeze" play

I've attached a screenshot to show the 512 squeeze fired off short nicely just earlier, good for 8 or 9 points on ES (I only took "just" the 4 points)

in a world full of charlatans and frauds, Carter comes across as one of the few genuine, knowledgeable and truly helpful guys around.

(I have no affilitaion with his company btw)

r_e


p.s the squeeze is when volatility reduces prior to firing off again
(yellow bollinger bands inside white Keltner Channel indicate consolidation; initiate trade when the BBs move outside the KC again)
typically, use Momentum to confirm direction of trade as Exit signal

Thanks rathcoole, this is good info and you answered my question. I get his freebie also and the squeezes definately still seem to be in his playbook. Was just curious because it is so hard to find the real thing when it comes to looking for best practices from real traders. Thanks again!

 

[Chorlton]

just good, clear, logical explanations, insights, assessment of market psychology (who's feeling the pain ?), money management, trading plans etc as well as some cracking trade set-ups.

I suggest you log on to his site (it's free) and get the daily video, see if you agree with me that this guy seems to know what he's talking about ......

(tradethemarkets.com) - and I have no affiliation with them whatsoever

r_e

Damn..... Yet another book I will need to add to my library then !!!!!

Cheers Rathcoole.....

 

[doberman]

I have just read john carters book
Feel he is a sales rep for tradthemarkets .com as you need to subscribe to it for 90% of his set up
as he tells you ever 10th page (www.tradthemarkets .com)
So if your not the subscribe type this book is not for you .
The book is gives you the feeling that you can not go on trading with out (Day Trading / Online Trading - Trade The Markets), (Day Trading / Online Trading - Trade The Markets)
May be some one can answer this is this a tool we need to trade are just an other bill

 

[rathcoole_exile]

you must have read a different book to the one I read - what about market psychology, money management, trading plans etc.

what about 8/21 crossover - no special subscription needed for that !
even his squeeze play, which i use all the time, i simply use BB lines and a KC, no need to buy the indicator

you're the first person i ever came across with something begative to say about the book

have you ever watched his free daily video ? this guy knows what he is talking about ......

 

[fibonelli]

I also subscribe to John Carter's free daily video service.

He also does videos of live trading, typically the ES or YM, on very short timeframes. The live trading videos emphasize the importance of good money and risk management techniques.

 

[doberman]

Have you found the daily videos helpfull?
I sure you need (Day Trading / Online Trading - Trade The Markets)
as the squeeze is the "best way to trade"
so with out (Day Trading / Online Trading - Trade The Markets) you cant trade the best way

 

[Tubbs]

well you guys. The book is good - all apart from the setups that are an absolute load of crap.

Look on ET and you will see what most people think of Carter.

Carter is mostly a salesman, his mate is the actual trader - in the videos - Hubert Senters I think. that guy obviously does know what he is talking about. They often argue about setups.

The thing that got me was I looked into the scalp play setup - and it just didn't make sense. I emailed him to see how it really works. I got an answer from his "secretary" of actually how the setup is completely different to the one in the book. Why? i don't know. Looked into that and as usual it doesn't really work.

Then again most technical analysis books don't work either. So I can't hold that against him.

 

[JohnHL]

My Goodness Tubbs! Then what DOES work?
I don't mean to be sarcastic, but surely most TA books must have some good points.