Best Thread How To Make Money Trading The Markets.

[Mr. Charts]

Hi Mr. Charts,

I thought I saw on some of your charts, an inside candle prior to your entries, but maybe that's insignificant on a 1 minute time frame, what do you think?
No significance

Also, don't think I was being a smart guy on my previous post, when I said... "I'd rather have you tell me". I just see so many people in forums act like they know it all, and I didn't want to come off that way.
It's very easy to give and get the wrong impression without hearing the words and seeing the face 🙂

Your thread is fantastic, and the way you use ATR has really helped me. It's taken away a lot of fear when entering a trade.
Excellent, I'm glad you've found some material useful.

Like I said in my earlier post, do you think your alerts would be worthwhile considering I just trade in the afternoon EST. for now?
I won't answer that here as a mod would ban me for "advertising" my services...
You'd have to find a way of contacting me directly...a web search perhaps...

Thanks,
Rockford

Happy New Year to anyone reading this thread.
Richard

 

[seguna]

OK, I'll do that over the holidays.
http://www.trade2win.com/boards/general-trading-chat/196132-changing-career-trader.html
Richard

MR C, we be waiting with bated breath!!!:whistling

HAPPY NEW YEAR ALL. May all your dreams....come true!!!
:clap:

 

[Mr. Charts]

MR C, we be waiting with bated breath!!!:whistling

HAPPY NEW YEAR ALL. May all your dreams....come true!!!
:clap:

I haven't forgotten, just been very busy and won't have the time now till mid January 🙂
Richard

 

[kingshah]

Mr Charts...i have been working my way through this thread and have found it very informative and interesting...thanks for all of your insights...I did want to ask, how much capital did you start with when you went into full time trading? And how long were you trading part time for in the evenings before you made the leap?

Thanks

 

[kingshah]

Position Size/Risk??

Hi Mr Charts

Just another question that came to mind....you have previoulsy discussed your position size/risk on numerous occasions (eg stock has ATR of 10 and bottom of candle is 6c away so maximum risk would be 10c) does this risk/position side principle only apply to this strategy of trendings stock or is it a more generic rule you use in trading?

i am aware you are busy for the new years period and look forward to a response at your earliest convenience

thanks

 

[TradingSoftware]

Some great advise here, thanks.

 

[TEAMTRADER]

A question when you have the time Richard.
Have you ever traded or been tempted to trade the Dow?
I ask because you can also Spreadbet it in the UK.
TEAMTRADER

 

[markettiming]

Richard

When you search for premarket stocks do you read reports of earnings stocks? i mean, does revenue beat consensus estimates or are earnings higher or lower consensus ?

 

[Mr. Charts]

Mr Charts...i have been working my way through this thread and have found it very informative and interesting...thanks for all of your insights...I did want to ask, how much capital did you start with when you went into full time trading? And how long were you trading part time for in the evenings before you made the leap?

Thanks

Sorry for the delay replying but I've been away on holiday.
I will gradually catch up with emails and answering posts here.
I started trading part time with £3500 and worked that up then finally decided to give up my dental practice and trade for a living. My only regret is that I hesitated for a long time and should have gone full time trading a couple of years earlier than I did.
Richard

 

[rawrschach]

were you trading intraday the whole time?

 

[Mr. Charts]

Hi Mr Charts

Just another question that came to mind....you have previoulsy discussed your position size/risk on numerous occasions (eg stock has ATR of 10 and bottom of candle is 6c away so maximum risk would be 10c) does this risk/position side principle only apply to this strategy of trendings stock or is it a more generic rule you use in trading?

i am aware you are busy for the new years period and look forward to a response at your earliest convenience

thanks

I do advise people to use that risk control approach with the other trading set ups I use.
Those methods are my MAXIMUM risk per trade, but I often exit a trade much sooner if my reading of buy/sell pressures, L1 / 2 tells me it is going against me, either to cut a losing trade fast whilst any loss is very small, or to take profits (whole or partial) on a winning trade. The particular methods I use are, as I have said many times, beyond the confines of this thread but this ATR/end of candle approach works very well without the more detailed analysis in the second sentence above.

In fact, the method you allude to is one I strongly advise the people I teach to use, but personally I usually trade in a set position size because I've got so much experience having traded for a living since 2000.
Hope that helps.

 

[markettiming]

Sorry for the delay replying but I've been away on holiday.
I will gradually catch up with emails and answering posts here.
I started trading part time with £3500 and worked that up then finally decided to give up my dental practice and trade for a living. My only regret is that I hesitated for a long time and should have gone full time trading a couple of years earlier than I did.
Richard

I heard that it was very easy to trade at that time.
I didnot know anybody who starts from $3500 and never loose his account.
You are very good trader.

 

[kingshah]

Thank you for your answers and explainations Richard - much appreciated!!

 

[tar]

were you trading intraday the whole time?

He needs at least $25K to be able to do that aka PDT rule ....

 

[rawrschach]

I know...that's why I was asking. Unless he did it before the rules were in place.

 

[tar]

I know...that's why I was asking. Unless he did it before the rules were in place.

I know 🙂

 

[Mr. Charts]

Some great advise here, thanks.

My pleasure.

 

[Mr. Charts]

A question when you have the time Richard.
Have you ever traded or been tempted to trade the Dow?
I ask because you can also Spreadbet it in the UK.
TEAMTRADER

Yes, I have.

 

[Mr. Charts]

When you search for premarket stocks do you read reports of earnings stocks? i mean, does revenue beat consensus estimates or are earnings higher or lower consensus ?

Yes, I do have a quick look at the headline numbers, but not detail.

 

[Mr. Charts]

were you trading intraday the whole time?

No, I started with swing trading UK shares T25, also traded some other instruments and also used CFDs