Making Money Trading

Which market do you want to learn to trade?


  • Total voters
    101
  • Poll closed .
Status
Not open for further replies.

rathcoole_exile

Well-known member
Jun 12, 2007
3,924
765
123
Krung Thep Mahanakhon
#61
Hi Rathcoole,

Great post, a method wrote down and complete" ish :eek:

awards in the post :LOL: :LOL:

Post a couple of chart examples and I"ll award some more points to somebody else so I can give you some more :LOL: :LOL: :LOL:

If you can"t write your method down you have"nt got one :!: what's his name
as requested.
1. EMAs above Tunnel = bullish
2. RSI above 50 = bullish
3. RSI recently crossed over 50 and survived re-tests = bullish
4. RSI crossed over MA = bullish
5. Price EMAs crossed over = bullish
6. Trade plan, Stop Buy next open above previous day's high.
7. See ya !
8. do you need me to go onto to explain SLs, additional positions etc ?
 

Attachments

trader_dante

Well-known member
Aug 18, 2005
4,535
1,457
173
www.trader-dante.com
#62
as requested.
1. EMAs above Tunnel = bullish
2. RSI above 50 = bullish
3. RSI recently crossed over 50 and survived re-tests = bullish
4. RSI crossed over MA = bullish
5. Price EMAs crossed over = bullish
6. Trade plan, Stop Buy next open above previous day's high.
7. See ya !
8. do you need me to go onto to explain SLs, additional positions etc ?
Looks like rathcoole_exile and I had more or less the exact same entry. Surprising since he already suggested my method is likely to be "crap".

Unlike his, which boasts a rather daunting checklist of points to consider before entering, my method keeps it rather more simple. There was one deciding factor that got me in this trade. I'll explain in due course.

Hope everyone is enjoying the weekend :)

Tom
 

Attachments

jiggly

Active member
Mar 1, 2005
478
64
38
ads.pkr.com
#63
I don't want to compare anything, i just want you to ****e or get off the pot after several pages of BS. But at least I openly state my methodology.

Poll ? Just do something ! Nobody cares if its EURUSD, Crude or Google. it'll be crap anyway so just get on with it.
I am not a heckler nor am i a naysayer, as a matter of fact i am very interested in following this thread so that i can contribute constructively somewhere. This guy does have a point though....can we get on with it already as this thread will become cumbersome and very difficult to follow.....

this thread is filling up with crap already.....everyone stating they are interested, looking forward to reading your methodology, wish you good luck, we appreaciate your efforts blah blah blah......

just state your methodology and why you are using it, what is your belief system for the markets, post a chart, any chart...and give an analysis of what you are doing and why you are doing it, why the need to drag things out.......this is gonna be a monumental thread in terms of size....and its gonna be padded with soooo much unnecessary post......a cluster F$%K

i am sure you have the best of intentions and your reasons for doing this are very honourable. I can relate to them and a lot of what you have said so far is intelligent and sensible....but for heavens sake you should have just got to the point from the get go.
 
Likes: bizmanny

rathcoole_exile

Well-known member
Jun 12, 2007
3,924
765
123
Krung Thep Mahanakhon
#64
Looks like rathcoole_exile and I had more or less the exact same entry.
so you will have been in on this one too ?
Great !
despite the "daunting" description of the checklist, it can actually be verified in about 3 seconds visually. Not too much to ask for a trade that's supposed to be an alternative to working for a living !
I look forward to seeing your posts of your charts showing these set-ups according to your parameters so we can all benefit from your wisdom.

Garry
 

Attachments

trendie

Well-known member
#65
I am not a heckler nor am i a naysayer, as a matter of fact i am very interested in following this thread so that i can contribute constructively somewhere. This guy does have a point though....can we get on with it already as this thread will become cumbersome and very difficult to follow.....

this thread is filling up with crap already.....everyone stating they are interested, looking forward to reading your methodology, wish you good luck, we appreaciate your efforts blah blah blah......

just state your methodology and why you are using it, what is your belief system for the markets, post a chart, any chart...and give an analysis of what you are doing and why you are doing it, why the need to drag things out.......this is gonna be a monumental thread in terms of size....and its gonna be padded with soooo much unnecessary post......a cluster F$%K

i am sure you have the best of intentions and your reasons for doing this are very honourable. I can relate to them and a lot of what you have said so far is intelligent and sensible....but for heavens sake you should have just got to the point from the get go.
I do agree to some extent, and timsk did suggest to trader_dante that he needed to throw some scraps while we wait until Tuesday to decide what t_d is going to trade.

I think L_McQ :) would best cull the majority of the "null" posts and tidy up, otherwise any reader coming to this fresh will get a rather dim of view of T2Ws membership if they had to trawl through 7 pages (and counting) of pre-judgements.

dont kow why the fuss. waiting till Tues is no different to waiting for a signal.
Patience, GrassHopper.
 

trader_dante

Well-known member
Aug 18, 2005
4,535
1,457
173
www.trader-dante.com
#66
This is the last post I am going to make about this point.

I am not a heckler nor am i a naysayer, as a matter of fact i am very interested in following this thread so that i can contribute constructively somewhere. This guy does have a point though....can we get on with it already as this thread will become cumbersome and very difficult to follow.....

this thread is filling up with crap already.....everyone stating they are interested, looking forward to reading your methodology, wish you good luck, we appreaciate your efforts blah blah blah......

just state your methodology and why you are using it, what is your belief system for the markets, post a chart, any chart...and give an analysis of what you are doing and why you are doing it, why the need to drag things out.......this is gonna be a monumental thread in terms of size....and its gonna be padded with soooo much unnecessary post......a cluster F$%K

i am sure you have the best of intentions and your reasons for doing this are very honourable. I can relate to them and a lot of what you have said so far is intelligent and sensible....but for heavens sake you should have just got to the point from the get go.
Jiggly, I understand your frustration. It is getting long and perhaps nothing of real substance has been said yet but there is a reason for this. I want to teach those that are new to this game how to make money and I will be doing it very slowly so that every concept is fully understood and I will BEGIN once a market has been chosen. I don't want to choose it myself because I know what will happen.

I will choose a market I make money on regularly like the Treasury Market or Crude Oil and new traders won't bother following it closely because they either don't have access to it or don't have the margin to trade it. They will take what I say the minute I post it, apply it to another market and won't be able to make money - get frustrated and give up.

If you want my methodology. It is this: Look to play price action (pin bars, inside bars etc) at levels of support/resistance where there is confluence in the forms of key fibonacci levels or moving averages.

There you have it. It is as simple as that. Go away and make lots of money with it.

The moving average system is even simpler: When the market is trending the 50ema slopes up. You will then find that the price often retraces to the zone of the 10 and the 21 before continuing onwards.

Thank you. Perhaps you can all stop having a go at me now.

I want to take this very slowly. There is too much to explain by simply posting one chart.

Take pin bars for example. Why do I play a certain type of pin bar and not another? Are the relative levels of the left and right eyes important? Is a postive/negative open/close relative to the direction of the trend significant when deciding whether to enter?

What about support and resistance? Surely this is easy enough to draw on a chart? WRONG How do I come up with my support and resistance areas? Do I pay more attention to S/R pivots or just straightforward support/resistance? Would I play a break of these areas or wait for a retest?

There is too much to go into in one go and I am not going to bow down to pressure to do so. It may take a week or it may take six months for people to understand what I do with S/R. I will not move on to the next level until they do. The single most important factor here is whether people make money. They WON'T make money unless they understand this. And they won't understand if I rush.

If you don't believe in me go somewhere else. What use are you serving being here? If I am a fraud it will be exposed soon enough when my live calls fail. If you are here to wait for that and rub your hands in glee - at least do me the favour of waiting to see if it happens.

We will start Tuesday. If you don't want to see this forum getting longer - don't post!
 
Last edited:
Aug 21, 2004
8,947
2,248
323
Manchester
#67
You see, where I come from we tell it like it is...no beating about the bush...and on this thread it will be just so ;)

Now that was me with my friendly head on


This will be me with my none friendly head on....press some buttons, deliver some infrations, ban some members, talk about it next week and have a jolly good laugh over a nice cup of tea

GOT IT ?

Please all calm down and have a nice weekend

cv
 

shadowninja

Well-known member
Jul 22, 2007
5,524
641
173
www.helpforheroes.org.uk
#68
Well, I for one look forward to seeing what trader_dante has to say. As a newbie trader, I am sure I can learn from it. Let's just wait to see what he says before having a go at him. It may be something every experienced trader already knows. It may be the best thing since sliced bread. It may be a load of rubbish. We will just have to wait and see. Until I know more, I thank trader_dante for his patience and not getting fed up with the negativity and taking his ideas elsewhere.

(You know, it isn't a crime to want to help people. I give a few hours a week to a charity and gain absolutely nothing from it (oh, ok, I get a free cup of tea). And, in fact, I'm also guilty of posting a trading method; look in the binaries section.)
 
Likes: spanish89

trader_dante

Well-known member
Aug 18, 2005
4,535
1,457
173
www.trader-dante.com
#70
Ok here goes...

Tom,
OK, look forward to it :devilish:

sorry, I did start off highly supportive of your thread and impressed with your desire to help and share. Just frustrated at lack of progress. No hard feelings ?

cheers
Garry
Garry - no hard feelings. You're right this has gone on too long. Ok, the mods will clean it up when they get time and I have an idea: since Indices have led the poll almost all the way but forex is close behind I am going to concentrate on these two markets. Once the strategy is clear I may post some setups I see in Bonds or Commodities. At least I can now tell where the majority of peoples interest lies. I'll get started in the next post. That may not be tonight - I've spent almost all of my Saturday on here!

I am going to introduce things slowly because I think you will all learn better that way. I will post charts and I will annotate them and try and detail in posts the exact way I work. If I post a setup that I am taking in the live market I will put Market Setup in bold in the Title window. I may not do this for a little while as I want people to understand why I am doing what I am doing. Please refer to my attempt at a disclaimer if you decide to follow me. I am sure that most of you are too sensible to do that at least until I prove myself but I warn you: just because I say I am looking to do something doesn't mean I am advising anyone else too. Everyone has a different profile in the market place and we should operate with our own unique profile in mind.

OK, thanks for all the support and the criticism. Let's see where this goes :)

Tom
 
Likes: mr.marcus

0007

Well-known member
Jun 19, 2005
1,978
422
93
#71
Here's a guy willing to pass on his knowledge - we can all accept / reject it as we see fit. As with all the books / threads / podcasts etc: if you only get one piece of info or an idea that makes you think, then it's worth it. Occasionally you get a lot more than that - I hope this thread is one of those.

The wide range of comments so far - both complimentary & otherwise - furthers one's education in human psychology! As for filtering out the crap - I just cut and paste the bits that are meaningful to me, into a Word doc. I'm quite happy to wait for instalments as the author sees fit - isn't learning to patiently wait one of the trading skills we all have to master?

Good on yer Trader Dante :)
 
Likes: GammaJammer

fibonelli

Well-known member
Oct 1, 2006
1,338
288
93
#72
I've voted for commodities - strong trends and sizeable reactions.

Your trading strategy, as I understand it, is quite similar to the one I'm finalising and of bbmac's in terms of being indicator driven but with extensive S&R analysis and the importance of "confluence" to filter out the poor signals.

Ignore the trolls but you need to tell us when you'll be posting real trades with analysis and screenprints of your account to maintain credibility.
 
Jan 28, 2007
2,482
147
73
#73
I've voted for commodities - strong trends and sizeable reactions.

Your trading strategy, as I understand it, is quite similar to the one I'm finalising and of bbmac's in terms of being indicator driven but with extensive S&R analysis and the importance of "confluence" to filter out the poor signals.

Ignore the trolls but you need to tell us when you'll be posting real trades with analysis and screenprints of your account to maintain credibility.
Thanks for the post fib - a good contribution. When I am a more mature trader I intend to focus exclusively on commodities for those reasons. I think T_D is going to post what you suggest soon, but was merely wanting to answer any questions first (see post #1) and get some consensus for a market.

I honestly don't believe this will be a waste of time - I've seen many threads with someone always promising to reveal the holy grail "soon", but I don't think this is one of them - we should give him a chance, although I quite agree that he needs to produce the substance real soon now.

I for one am looking forward to it - there hasn't been a thread like this in some time. I see the views are approaching 2700, so I'm not the only one!
 

trader_dante

Well-known member
Aug 18, 2005
4,535
1,457
173
www.trader-dante.com
#74
Ftse 100

This is an example of what I consider a high probability setup for a trade.

The bar circled is known as a pin bar. This bar indicates a potential reversal.

In addition, the nose touches both:

1. The 38 fib level of the swing low to recent high
2. A support/resistance zone. See how previous support became resistance and then turned to support again.

The fact that these two pivots line up make this a powerful confluence.

A long position would be taken when the price breaks the high of the pin bar. A corresponding stop would be placed beneath the low of the pin bar.

Trading is about having the patience to wait for these setups.

The trader that wants to win in this game has learn to wait on the sidelines until he sees an advantage. They will plot their support/resistance areas, they will draw in their trend lines and their fib levels and they will wait for the market to react to them.

Don't go to the market. Let the market come to you.

I will show you how I draw in my "pivot" areas and how I play price action bars and give you suggestions of how you can play them too but for now I'll leave you with a quote:

"Although the cheetah is the fastest animal in the world and can catch any animal on the plains, it will wait until it is absolutely sure it can catch it's prey. It may hide in the bush for a week, waiting for just the right moment. It will wait for a baby antelope, and not just any baby antelope, but preferably also one that is sick or lame. Only then, when there is no chance it can lose its prey, does it attack. That, to me, is the epitome of professional trading" - Mark Weinstein (Market Wizard)
 

Attachments

Last edited:

Tenapenny

Well-known member
May 5, 2007
1,005
46
58
#75
It makes me wonder sometimes, how many "experienced" and cynical traders there are out there who've been there, done that and got the T-shirt to prove it. As has been mentioned, this a First Steps thread imparting some knowledge t_d has gained and is willing to share with us. Give him time. If it's a load of c**p we will find out soon enough. If you are happy and profitable in your own trading, thats great. Keep up the good work. Maybe you aren't as successful as you'd like to be. Thats ok too. Trading takes time to learn and hopefully you learn from your mistakes. Now, if someone offers to do a bit of mentoring and has already made mistakes and learnt from them and is willing to pass on their knowledge, whats wrong with that. Lets just have patience, you know, just like when you're contemplating an exit.:LOL:

Carry on t_d!
 

trader_dante

Well-known member
Aug 18, 2005
4,535
1,457
173
www.trader-dante.com
#76
As one clever observer has already pointed out, my FTSE chart does not look the same as his! Principally, he has no pin bar but a bullish bar instead!

The reason for the discrepancy is the SB broker I use has a unique way of dealing with gaps.

If a gap up/down occurs in price, rather than simply open the market at the new level leaving a visible gap on the chart, it will "fill" the price in on the chart.

So in this case, when the market gapped down after the weekend, rather than a chart showing a lower open (a gap) followed by a move up (to fill the gap)- my broker shows a large bar down that then retraces.

I hope this is not too confusing and I thought I would just let this one ride rather than delete it and post another example.

Many people will get slightly different looking price action from time to time. I have come across this frequently in the FX market. If you have a US and a UK based broker that operates their charting in their respective timeframes you may find that because of the international time difference, the UK end-of-day (EOD) bars are printing five hours earlier, creating sometimes very different setups.

I have always been taught to play these bars as you see them - your charting package is after all only a window to view price action through.

If you didn't have a pin bar in your FTSE chart, you could have still entered a high probability trade by trading "the gap". This is a technique whereby a trader will enter the market in expectation of a gap in price being filled. The confluence I illustrated above would have given you two supporting reasons to enter this trade long. I personally do not trade gaps so I won't talk about it further here but I know other traders who say that trading the weekend gap on some of the FX pairs is among the easiest money they make.
 
Last edited:
Jan 28, 2007
2,482
147
73
#77
If you didn't have a pin bar in your FTSE chart, you could have still entered a high probability trade by trading "the gap". This is a technique whereby a trader will enter the market in expectation of a gap in price being filled. The confluence I illustrated above would have given you two supporting reasons to enter this trade long. I personally do not trade gaps so I won't talk about it further here but I know other traders who say that trading the weekend gap on some of the FX pairs is among the easiest money they make.
Not to hijack the thread, but from time to time I make trades based on anticipating the closure of a YM opening gap - something which could be discussed here in more detail perhaps if you decide to teach indices. (I'd much rather we went with Making Money Trading FX though!)
 
Jan 28, 2007
2,482
147
73
#78
Pin Bars, Daily timeframes

As some of you who follow my posts may recall, I recently indicated I would be entering a new stage of trading and posting results shortly. This new method of trading was to learn how to trade FX from daily timeframes, and looking to hold positions for between a few days and 2 weeks to capture movement in trends. These "pin bars" look to be an interesting way of taking a trade in the direction of the trend when the market is over extended.

I look forward to learning more about how you trade FX. Thanks for the thread - something tells me it will be rather useful. In terms of live trades, hopefully you will post some, but if I take any trades based on advice received here, and the trades appear in my journal, I'll link here!

When a market is finally decided, could you give us some more information on how you go about trading it? I'd be interested in the timeframes you follow, whether you track fundamentals, how you establish entries and exits, and how you decide on placing stops. Also, do you use indicators*, and if so which ones?

* - I'll be honest here - I'd be very disappointed if you show us a system with 25 multicoloured indicators and tell us to buy when X crosses Y while Z is above 50%, A is blue, B is flashing, and it is a full moon. Moving averages are okay for defining trend, but I'm pretty much convinced that the professionals don't MACD and ZigZag! Saying that, I'm open to anything novel, interesting, or profitable regardless....it is just my preference to trade using price, volume, and candlestick patterns (and T&S/ order book when intra-day trading)
 

trader_dante

Well-known member
Aug 18, 2005
4,535
1,457
173
www.trader-dante.com
#79
When a market is finally decided, could you give us some more information on how you go about trading it? I'd be interested in the timeframes you follow, whether you track fundamentals, how you establish entries and exits, and how you decide on placing stops. Also, do you use indicators*, and if so which ones?

* - I'll be honest here - I'd be very disappointed if you show us a system with 25 multicoloured indicators and tell us to buy when X crosses Y while Z is above 50%, A is blue, B is flashing, and it is a full moon. Moving averages are okay for defining trend, but I'm pretty much convinced that the professionals don't MACD and ZigZag! Saying that, I'm open to anything novel, interesting, or profitable regardless....it is just my preference to trade using price, volume, and candlestick patterns (and T&S/ order book when intra-day trading)
Lurker Lurker,

I am going to show you some stuff that you will use forever. This material will blow you away. I promise you.

Have patience. There is a lot of work for me to do and I am already worried that those new to this will be out of their depth from my first post above which has gone right in at the deep end. This is what I was afraid of. For the seasoned traders this may all seem "old hat" but I am sure there are many out there that don't even know what pin bars are or the psychology behind them. I will explain all though...
 
Likes: Directional

firewalker99

Well-known member
Jul 29, 2006
6,655
596
173
#80
First is that lately, I've started to realise that there is more to life than trading. I've gone through hell to learn to trade. I've cut myself off from my friends and family and nearly wrecked a six year relationship with the girl I love. My attempts to learn this game have led to anger and frustration. I found that all I would do is be thinking about the market and I became gradually more introverted until I lost sight of everything that really matters in life.

And then suddenly it dawned on me: the market doesn't care who I am - it was here long before I was born and it will be here long after I am dead. I am giving up precious years that I can't get back in order to learn how to make money. And I am ignoring the things that really matter in life like: "Do I show the important people in my life that I appreciate them?", "Am I making the most of my time here?", "Will I be remembered after I die?".
You have no idea how much that story relates to mine :eek: .

Much R-E-S-P-E-C-T to you trader_dante, not only for trying to educate the masses, but also and more importantly for putting yourself in the middle with nothing to gain, but a lot to lose.

To the sceptics out there: it's fair and normal to question somebody who claims to offer xxxx % in xxxx amount of time, as I would too - absolutely. But after reading some of dantes posts he seems like an honest person. I have no reason to doubt his intentions nor his credibility as a trader.

The only thing I would suggest dante, if you permit, is that you remove that line from your signature. It's absolutely not needed to support your claims, it only makes you look like you are trying to sell something. It's already very clear to me that you know what you are talking about and I very much understand your reasoning to share some of your knowledge.
 
Status
Not open for further replies.