Best Thread How To Make Money Trading The Markets.

[DionysusToast]

lol

But allegedly this "method" works on any day because there is always something moving (according to mrcharts).

Perhaps if you focused on your own trading, you'd be a little less bitter.

It's FOMC day - not much will happen till the PM.

Much like your "Mr C doesn't do L2" comment, your ignorance is shining once again.

Guess what - Mr C has the same days/periods off trading that most of us take.

If you were nice, someone might even have told you what that are.

 

[D70]

Perhaps if you focused on your own trading, you'd be a little less bitter.

It's FOMC day - not much will happen till the PM.

Much like your "Mr C doesn't do L2" comment, your ignorance is shining once again.

Guess what - Mr C has the same days/periods off trading that most of us take.

If you were nice, someone might even have told you what that are.

 

[cablemonster]

mid week angst

 

[wallstreetwarrior87]

Only chart worth showing is the one in this screen shot.
Other trades didn't really do anything for me.
-39
-12
-9
+24
+192

Total = +$156
Total pips = +28

Well 28 pips for a "quiet" day, what do people want I ask? Good on you for actually being bothered to post, a few more days (once you have 100 or so trades under your belt) you will be in a position to speak from experience, then others can take it or leave it.

Not a bad start at all. If you have the time to keep this going; will be very interesting to see the results.

 

[piggybridges]

Well 28 pips for a "quiet" day, what do people want I ask? Good on you for actually being bothered to post, a few more days (once you have 100 or so trades under your belt) you will be in a position to speak from experience, then others can take it or leave it.

Not a bad start at all. If you have the time to keep this going; will be very interesting to see the results.

I'd love to, but unfortunately I have a day job, and the rest of the time, i'm trading forex.

It was just an experiment whilst I was off work for the day.

If I get time, I'd happily post my daily results for a number of weeks!
I'm not shy; I post most of my forex trades in realtime over in LordFlashearts livecall thread.

I'd like to see others give it a go, too.
I didn't do this to stick up for Mr.Charts or otherwise. I was just bored, and I've always been interested in both his method, and in daytrading stocks.
Hopefully at some point i'll be able to give it a proper bash!

And in true hindsight style, here's my only trade from today!:

 

[dxx]

Hello Mr Charts

Please see attached 3 min chart of Duke Energy Corp (DUK), can I ask whether you would consider the retracement marked by the rectangle be considered too 'messy' for your requirement?.

Many thanks

 

[Mr. Charts]

Hello Mr Charts

Please see attached 3 min chart of Duke Energy Corp (DUK), can I ask whether you would consider the retracement marked by the rectangle be considered too 'messy' for your requirement?.

Many thanks

Hi dxx,
No, not messy.
Very nice trade, well done
Richard

 

[dxx]

Thanks very much for your reply Richard.

Excellent thread by the way with all relevant info nicely covered for this set-up.

 

[Mr. Charts]

Thanks very much for your reply Richard.

Excellent thread by the way with all relevant info nicely covered for this set-up.

Thanks dxx, my pleasure.
Richard

 

[simon61]

Hi Richard,

Not many posts recently ,are you taking time off . What do you think of trading options on US stocks ? I took your course two years ago, has your way of trading changed since. Worth a look, a live show from the US run by Tom Sosnoff, who set up Thinkorswim called Tastytrade.com .

AS I said I took your course a couple of years ago, I would have thought you would
have been in touch to see how I was doing , which makes me think was it all a sales pitch to sell a course.

Regards,

Simon61

 

[Mysteron]

Hi Richard,

Not many posts recently ,are you taking time off . What do you think of trading options on US stocks ? I took your course two years ago, has your way of trading changed since. Worth a look, a live show from the US run by Tom Sosnoff, who set up Thinkorswim called Tastytrade.com .

AS I said I took your course a couple of years ago, I would have thought you would
have been in touch to see how I was doing , which makes me think was it all a sales pitch to sell a course.

Regards,

Simon61

So now you have realised the truth about vendors who sell courses

Those who can - 'do', those who can't - 'teach'.

 

[barjon]

Those who can - 'do', those who can't - 'teach'.

well, that's written off parents, schools, universities, business leaders and many more besides.

 

[StockIdeas]

So now you have realised the truth about vendors who sell courses

Those who can - 'do', those who can't - 'teach'.

100% agree!

 

[0007]

So now you have realised the truth about vendors who sell courses

Those who can - 'do', those who can't - 'teach'.

If GBS (George Bernard Shaw - Wikipedia, the free encyclopedia) who originated this occaisionally true but usually meaningless and spiteful phrase had been 100% right then few of us would have learned anything by way of teaching.

 

[ZaBu]

If GBS (George Bernard Shaw - Wikipedia, the free encyclopedia) who originated this occaisionally true but usually meaningless and spiteful phrase had been 100% right then few of us would have learned anything by way of teaching.

I refuse to take a golf lesson from anyone that has failed to win a PGA tour event :whistling

 

[Shakone]

I refuse to take a golf lesson from anyone that has failed to win a PGA tour event :whistling

Then you'll be crap at golf forever won't you?

 

[ZaBu]

Then you'll be crap at golf forever won't you?

If I was being serious then you'd be absolutely right. As it stands my local pro has helped me to take plenty of shots off my game in a relatively short period.

 

[Mr. Charts]

This method (and others I use) keep on working because they are based on CLEAR market sentiment. If you trade choppy, unclear price moves your success rate is much lower and it's much more difficult to keep tight stops to limit losses on the trades that don't work out. Of course there are methods of trading ranging markets but personally I don't like them - and don't need them. This is because with stocks there is a huge range and usually (not quite always) there are some which show clear market sentiment and therefore potential for consistent profits. Most other trading instruments have fewer trends and are therefore more difficult to trade consistently and profitably over long periods of time - all in my personal opinion and experience of course. Others will disagree.

I'm back from a nice long summer holiday and getting back into the swing of things - even on a day when the US is choppy.

Here are three from today, all found from live scans:
FSLR traded on 3 min candles but didn't go far before failing and producing just 11c per share profit.

 

[Mr. Charts]

As always, pointer at entry and screen shot at exit.

ESRX on 1 min candles +23c per share

 

[Mr. Charts]

ESRX again, this time using 3 min candles, producing +49c per share.

Other trades today, including a loser, are on my blog elsewhere.