What method makes you the most money?

[malaguti]

Point and figure, nothing has been as successful for me and the number of winning trades to losing is well over 70% when achieving 1:1 return/risk ratio.
I'm still learning, but its quite straight forward. The numbers drop when going for 2:1 but its still worth it
It combines, entry rules, exit rules, targets etc. Can't go much wrong in my opinion.
Stick with a chart until you need to look elsewhere

 

[pboyles]

Does anyone have a clear method they use to
make consistent money?

I just got a trial of the Stealth Alerts scanner
and I'm not sure what to look for.

Do you look for daily highs?

Fast Breakouts?

Trending stocks?

What signals do you use to get in?

Moving average?

Time and sales?

Please elaborate.

Thanks,

Craig

I find that working normally guarantees that you make consistent money. Meanwhile buying crap software gimmicks and spending weeks figuring out how to use them normally results in you making nothing at all.

In other words if you want to make money get a job. Fiddling about on a computer spread betting or trading forex will make you nothing.

 

[Nikhil Dogra]

Point and figure, nothing has been as successful for me

Kagi Charts are one of my favorites as they are easy for beginners , just as candlesticks are improvement over bar charts same way Kagi is an improvement over P&F [This was said not by me but by Steve Nison in his book]
I attended a seminar by Jeremy Du Plessis and i was impressed by P&F. I myself am trying to learn this method

 

[malaguti]

Kagi Charts are one of my favorites as they are easy for beginners , just as candlesticks are improvement over bar charts same way Kagi is an improvement over P&F [This was said not by me but by Steve Nison in his book]
I attended a seminar by Jeremy Du Plessis and i was impressed by P&F. I myself am trying to learn this method

Well Nikhil, Kagi and P&F are very different in my opinion so I think its a little strange to say one is an improvement over another. Are there hard rules for entering a trade in Kagi? Do they give targets? No. Glad you are trying to spend the time on P&F, you wont go back, regardless of what Nilson writes (and I've not got anything from his stuff whereas Duplessis is marvellous). Just my opinion of course!
And P&F really is not difficult..cant think why beginners couldn't understand something pretty simple. Takes a bit of practice and great threads on this forum to help.

 

[NVP]

good to see those fancy named systems in this thread...........ichifani cloud works as well for me at times.....well worth spending a year researching

no offense meant - but after a few years you will realise most systems do the same things .....you just have to tweak the collars and cuffs to make it fit you

N

 

[malaguti]

good to see those fancy named systems in this thread...........ichifani cloud works as well for me at times.....well worth spending a year researching

no offense meant - but after a few years you will realise most systems do the same things .....you just have to tweak the collars and cuffs to make it fit you

N

You're funny..fancy named systems! But I cant argue with you. P&F is simply a breakout system/trend following..but it makes it easier in my opinion. I can look at a P&F chart or even a renko chart, and it looks so much clearer (for me of course) than traditional candles, lines etc.

 

[Nikhil Dogra]

no offense meant - but after a few years you will realise most systems do the same things .....you just have to tweak the collars and cuffs to make it fit you

N

Yes indeed , it took 3 busts to figure this out . well the busts were due to "over technical analysis" --> analysis paralysis! i am a CMT level 2 candidate I mean i am right 100% of time but end up loosing as market has a very sexy habbit of taking stops before going to hit targets !! now i have made very significant changes like stopped over analyzing things and removed all the predictive elements from my systems . Now i am truly following markets and not predicting things like i was earlier.
I am on this forum to interact with "Traders" those who actually trade , all my contacts are "Analysts" the ones who comes on Cnbc India who are not the actual traders. I have in my life met only 2 traders who actually make money [a fashion designer & a retired gentleman who day trades indexes amazingly ] I am in the transition from a analyst & a long term investor [not holding loosing bets lmao! ] to a short & medium term trader.

 

[malaguti]

Yes indeed , it took 3 busts to figure this out . well the busts were due to "over technical analysis" --> analysis paralysis! i am a CMT level 2 candidate I mean i am right 100% of time but end up loosing as market has a very sexy habbit of taking stops before going to hit targets !! now i have made very significant changes like stopped over analyzing things and removed all the predictive elements from my systems . Now i am truly following markets and not predicting things like i was earlier

kind of sums up my earlier mistakes..always used indicators, and all of them show divergence...what happens...price keeps going up. Elliotts are always looking the end of wave 5 and never get it right. Like you say Nikhil, dont predict just focus on the chart. great advice