I have been lurking this thread for a few months and have seen ChartMan replying to a number of questions.
Is there a definitive list of ChartMan's do's & dont's on the thread or has anyone compiled one and is willing to make it available?
Regards
bracke
Is there a definitive list of ChartMan's do's & dont's on the thread or has anyone compiled one and is willing to make it available?
Regards
bracke
tradesmart
Experienced member
- Messages
- 1,286
- Likes
- 22
Brackers,
The 'luck of the lurker' is with you.........!.............see http://www.trade2win.com/boards/showthread.php?t=5785
Regards
The 'luck of the lurker' is with you.........!.............see http://www.trade2win.com/boards/showthread.php?t=5785
Regards
tradesmart said:
Thank you for your reply tradesmart it is much appreciated.
I could say that it was not so much luck,more the sun shining on the righteous but that would undoubtedly bring forth a torrent of verbal raspberries, so I wont.
My thanks to ChartMan For the original thought, Newtron Bomb for putting it all together and Tradesmart for pointing me in the right direction. Reads like one of those award ceremonies,perhaps I should also thank my computer for letting me access the information.
Now all I've got to do is read it, apply it and bank the cash
Regards
bracke
tradesmart
Experienced member
- Messages
- 1,286
- Likes
- 22
Nice one Brackers.........
Talking of banking cash, some good trading opportunities today from RSI divergences on the 1min chart, and with PD developing over 7 days on the 60 min chart, and a test of the lower trendline at 9915 ish; the level which provided the launchpad for the last rally at the end of May - will be watching for signs of a decent bounce after the recent falls…….
Talking of banking cash, some good trading opportunities today from RSI divergences on the 1min chart, and with PD developing over 7 days on the 60 min chart, and a test of the lower trendline at 9915 ish; the level which provided the launchpad for the last rally at the end of May - will be watching for signs of a decent bounce after the recent falls…….
Attachments
Last edited:
mobile-mart
Newbie
- Messages
- 5
- Likes
- 0
Anyone else seeing the triangle on 10 min chart from Thursday on? Base line 9950ish with 150 pt mouth ?
TraderTony
Active member
- Messages
- 180
- Likes
- 1
I made a right dog's dinner out of today....
Got short today at 9975 at 10:12 and after a testing move against me it looked good reaching about +60 when there was a big single PD at around 11:50 but I held on. Stop held and it moved down again but never hit either the LOD or the 9900 level (which I half expected). I then realised the large triangle was likely to dictate the immediate action and got stopped out for +10 once it broke out to the upside.
Did anyone else take a similar short but exit at a more healthy level? CM, would you have exited sooner or was it worth holding on for another move down?
Then went long at 9957 (13:39 est) on pullback to 100ma from the upside. Quickly looked to be in trouble as it failed to move back to the upside with any momentum. I soon suspected this move up was a fake out before a probable move back to low of day/9900 level later in the day but let the trade play out only to be stopped for -31 right at the low point of the move before it took off to the upside!
With no discernible trend with an hour to go I quit for the day to finish with a 21 point loss.
Got short today at 9975 at 10:12 and after a testing move against me it looked good reaching about +60 when there was a big single PD at around 11:50 but I held on. Stop held and it moved down again but never hit either the LOD or the 9900 level (which I half expected). I then realised the large triangle was likely to dictate the immediate action and got stopped out for +10 once it broke out to the upside.
Did anyone else take a similar short but exit at a more healthy level? CM, would you have exited sooner or was it worth holding on for another move down?
Then went long at 9957 (13:39 est) on pullback to 100ma from the upside. Quickly looked to be in trouble as it failed to move back to the upside with any momentum. I soon suspected this move up was a fake out before a probable move back to low of day/9900 level later in the day but let the trade play out only to be stopped for -31 right at the low point of the move before it took off to the upside!
With no discernible trend with an hour to go I quit for the day to finish with a 21 point loss.
tradesmart
Experienced member
- Messages
- 1,286
- Likes
- 22
mm - as attached......?!............certainly a tightening wedge consolidation suggesting a 'winding-up' for a possible breakout to the upside............
TraderTony - commiserations...!.......a difficult choppy day, and with the tightening range, probably best left alone 'til the breakout.......
TraderTony - commiserations...!.......a difficult choppy day, and with the tightening range, probably best left alone 'til the breakout.......
Attachments
Last edited:
Hi guys,
Good trading day? Could have been but i personally missed out on alot of the opportunities.
At 1 there is an opp to go long off the double bottom with ND and the breaking of the trendline with target 9960.
At 2 we see a head and shoulders with target of 9920 which fell short by a few points. I didn't personally take the trade, didn't like the reward to risk ratio.
Those for me were the only 2 clear trading signals of the day, after 6 i preferred to stay out. Could of however taken the long at 3 with PD and see how far it would have taken you. Move up the stop to break-even after the first wave up to protect yourself and then ride it out to the close.
Those are my thoughts, if anyone got any more insight to the second half of the day let me know i would be interested to learn.
Thanks
hammer :cheesy:
Good trading day? Could have been but i personally missed out on alot of the opportunities.
At 1 there is an opp to go long off the double bottom with ND and the breaking of the trendline with target 9960.
At 2 we see a head and shoulders with target of 9920 which fell short by a few points. I didn't personally take the trade, didn't like the reward to risk ratio.
Those for me were the only 2 clear trading signals of the day, after 6 i preferred to stay out. Could of however taken the long at 3 with PD and see how far it would have taken you. Move up the stop to break-even after the first wave up to protect yourself and then ride it out to the close.
Those are my thoughts, if anyone got any more insight to the second half of the day let me know i would be interested to learn.
Thanks
hammer :cheesy:
Attachments
TT- you should have taken the single PD for +60. Having tested 32, and bounced back to 15's, for the move to continue, I would expect 00 to be tested after 32- that didn't happen. Also check RSI strength from 16 to 32 and then from 32 to 15 ! It's telling you something..... Sometimes waiting for a 3rd trough can be a mistake... as in this case. It turned out to be a "W" bottom - quite common. At almost 100 off the top,it really wasn't going to go much further..... Tough call.
Plenty of H&S / bump top ND's.Will that 3rd one drag us down tomorrow?
TT's long looked promising, but as he found out, was to fail. I can't say I wouldn't have done the same.... certainly the 100MA did us no favours today, nudging outside the 20's leaving losing trades in it's wake. Trade of the day was to take the open divergence left over from the weekend. Not my cup of tea as it was a gap up open, which can skew the TA . Not in this case though as it tumbled from it's 10K re test.....
I wonder if tony ( or anyone) had got in around 10K, would they have still held on with nearly a ton in the bag at the second calling of 16? A tough day.
Plenty of H&S / bump top ND's.Will that 3rd one drag us down tomorrow?
TT's long looked promising, but as he found out, was to fail. I can't say I wouldn't have done the same.... certainly the 100MA did us no favours today, nudging outside the 20's leaving losing trades in it's wake. Trade of the day was to take the open divergence left over from the weekend. Not my cup of tea as it was a gap up open, which can skew the TA . Not in this case though as it tumbled from it's 10K re test.....
I wonder if tony ( or anyone) had got in around 10K, would they have still held on with nearly a ton in the bag at the second calling of 16? A tough day.
Attachments
Hello everyone.
I was wondering if any of the people who follow chartmans thread, and were full time traders, would be interested in using the chat room, (ive noticed that of late no one seems to be in there), to discuss the day's events as they develop.
This would / could be beneficial to us all to
a) help relieve the boredom maybe...of a slow day
b) compare our thoughts of the way the dow is moving...
c) share our trades etc..
I don't mean this to be a "see whose best/ worst trader" just thought we could all share our real-time trading thoughts together.
I don't know if this has been done before or not, but i just thought i would throw it out into the open for general comment/ feedback.
Thanks in advance
Spencer.
ps Please dont all shoot me down in flames too quickly...... :cheesy:
I was wondering if any of the people who follow chartmans thread, and were full time traders, would be interested in using the chat room, (ive noticed that of late no one seems to be in there), to discuss the day's events as they develop.
This would / could be beneficial to us all to
a) help relieve the boredom maybe...of a slow day
b) compare our thoughts of the way the dow is moving...
c) share our trades etc..
I don't mean this to be a "see whose best/ worst trader" just thought we could all share our real-time trading thoughts together.
I don't know if this has been done before or not, but i just thought i would throw it out into the open for general comment/ feedback.
Thanks in advance
Spencer.
ps Please dont all shoot me down in flames too quickly...... :cheesy:
rossored
Senior member
- Messages
- 2,103
- Likes
- 56
I dont mean to pour water on your fire, but myself, Quercus, Ford, Daxtrader, Sir_Lostalot, Chartman and many more (used to have over 20 a day this time last year) all used to frequent the chat room on a daily basis.
Then it was just Ford, Quercus and myself.
Now its no-one, because everyone wants to come in there and get something for nothing! On 99% of occassions people cant even be bothered to say hello!
I'm not saying you won't get people back into the chatroom - just my tuppence worth.
Then it was just Ford, Quercus and myself.
Now its no-one, because everyone wants to come in there and get something for nothing! On 99% of occassions people cant even be bothered to say hello!
I'm not saying you won't get people back into the chatroom - just my tuppence worth.
Last edited:
Is that a real gap or bad data? gapping 36 to 60 on the Dow? Same on ES so it must be real... but why?
The chatroom could work..... where it falls over is that there are likely to be lurkers that just want to see who places what trades and follow them.....blindly.... and then complain when that same person doesn't announce that they have closed the trade...... Tough I say. It should be used to discuss the Dow's progress and discuss your thoughts openly. If you want to announce that you have placed a trade because....... then fine. It does , however , lead to peer pressure type problems. Say , for example, if I were in there..... you would no doubt all be looking to me for the answers and not doing any thinking for yourself. You won't learn anything like that. I've done it, and it's hard. Very hard. You would be far better off bouncing ideas off each other and perhaps posting trades later on. It means you can lie, if you feel that way inclined, it also means no-one can copy cat you. The other BIG failing are the disbelievers. They will say "how do I know you really did that trade?". Again, it's tough. You have no need to prove anything whatsoever. Whether you took a real trade, or declared a paper trade is totally irrelevant to anyone except yourself.
The downside of being in a chat room is that you WILL be drawn to the herd mentality unless you are 100% totally objective. You will also be well down on your concentration levels. Having said that, it can be a useful environment if you are more interested in brushing up on real time analysis skills rather than trying to be the best trader in the room. You don't get any points in my book for that. With the right mix of people and attitude, it may provide a useful learning environment. I can't make any commitment to this because of work pressure, but if it becomes a regularly supported event, I'm sure someone will persuade me to come in from time to time.
In case you didn't know, somewhere in the not too distant past archives, I did post up a real time running commentary on the Dow, revealing my thought processes.
The chatroom could work..... where it falls over is that there are likely to be lurkers that just want to see who places what trades and follow them.....blindly.... and then complain when that same person doesn't announce that they have closed the trade...... Tough I say. It should be used to discuss the Dow's progress and discuss your thoughts openly. If you want to announce that you have placed a trade because....... then fine. It does , however , lead to peer pressure type problems. Say , for example, if I were in there..... you would no doubt all be looking to me for the answers and not doing any thinking for yourself. You won't learn anything like that. I've done it, and it's hard. Very hard. You would be far better off bouncing ideas off each other and perhaps posting trades later on. It means you can lie, if you feel that way inclined, it also means no-one can copy cat you. The other BIG failing are the disbelievers. They will say "how do I know you really did that trade?". Again, it's tough. You have no need to prove anything whatsoever. Whether you took a real trade, or declared a paper trade is totally irrelevant to anyone except yourself.
The downside of being in a chat room is that you WILL be drawn to the herd mentality unless you are 100% totally objective. You will also be well down on your concentration levels. Having said that, it can be a useful environment if you are more interested in brushing up on real time analysis skills rather than trying to be the best trader in the room. You don't get any points in my book for that. With the right mix of people and attitude, it may provide a useful learning environment. I can't make any commitment to this because of work pressure, but if it becomes a regularly supported event, I'm sure someone will persuade me to come in from time to time.
In case you didn't know, somewhere in the not too distant past archives, I did post up a real time running commentary on the Dow, revealing my thought processes.