Best Thread How To Make Money Trading The Markets.

[Mr. Charts]

Yes indeed, although there's a huge gap between that and Richard's ability to work a great little pun: "The President of Gap (GPS) left to join Ralph Lauren (RL) and that news caused GPS to gap down and RL to gap up."

 

[Mr. Charts]

WFC was one of only eight stocks on my pre-market alert list and all I do initially before doing any scans after open is to see if any of the set ups I use occur on my alert list stocks.
The set up in this thread was there clearly and obviously so once I was reasonably confident it was set on a downwards course I shorted it and made a nice quick 52c profit per share.
The difficult part of trading is the emotional, mental one, otherwise it's method, method, method.

 

[happytommyx]

Mr Charts, could you tell us more about how you would scan for the trending stocks? What parameters do you use for the scan?

I've tried to find this information on previous pages with no luck, there are just way too many posts to read through.

Thank you!

 

[Mistermoneymaker]

Without wishing to appear rude, happytommy, surely if it is too much trouble for you to look through the previous posts why should Mr Charts give up his valuable time re writing something that he has explained on countless occasions just to save you the bother?
My suggestion to you is to read all the posts, and trust me, you will pick up many more gems of information than you could imagine.

 

[happytommyx]

Without wishing to appear rude, happytommy, surely if it is too much trouble for you to look through the previous posts why should Mr Charts give up his valuable time re writing something that he has explained on countless occasions just to save you the bother?
My suggestion to you is to read all the posts, and trust me, you will pick up many more gems of information than you could imagine.

Mistermoneymaker, you don't appear rude at all, you just sound like you didn't even read most of the posts here. Because if you did you would know much irrelevant information there is. I don't have all day sit here reading people's debates.

To everyone else, if there such a post that answers my question in my previous post please kindly paste the URL here. Thanks

 

[Mr. Charts]

Oprah Winfrey gets involved in WTW (Weight Watchers) and the price almost doubles pre-market !
That's one on my alert list for today !
As always I'll see if any of my set ups occur then trade accordingly, long or short. If the set up on this thread happens and I trade it I'll post the results, win or lose.
If I was a long term holder, (which I am not) I'd be looking to see if there was a high probability set up to sell.
One to keep an eye on today.

 

[Mr. Charts]

Three trades so far WTW
+25c
+22c
+45c
The first two were using some of my other methods, the third one was falling candles and I'll post the chart later.

 

[Mr. Charts]

Chart as mentioned.

 

[happytommyx]

I had a try with Mr.Charts' method with my live account and had a great winner.

I've been patiently waiting for the right set up and spotted BLUE as below - I shorted where the cross is(85.58) and exited at 82.00. over all 3.58 WIN.

My executions need some work but overall I think I get the idea.

 

[Amit 1986]

Three trades so far WTW
+25c
+22c
+45c
The first two were using some of my other methods, the third one was falling candles and I'll post the chart later.

Hi Richard,

Those are some good profits!:clap:

 

[Mr. Charts]

NXPI was on my pre-market alert list.
It had gapped down a lot and all I had to do was wait and see if any of its price behaviour produced any of the set ups I use.
It set up the rising candle method in this thread so I went long as indicated by the pointer and exited at the time of the screen grab.
Why did I enter exactly there? I was looking at several charts and if I had looked at that one slightly earlier, I'd probably had bought it earlier.

Just because something gaps down heavily doesn't mean I'll only short it !
For me it isn't about pre-conceived ideas, it's about price action/behaviour.

This trade produced +218c a share, that's $2180 on the usual 1000 share size, and pro rata for bigger or smaller sizes, e.g. $416 for just 200 shares and so on.

 

[Amit 1986]

Another great trade Richard!

 

[Mr. Charts]

MYL from today.
I ran my scans after market open and found this nice trender. It was then simply a matter of watching to see if a set up occurred - and the rising candle one did.
Method, method, method.
MYL +58c per share profit

 

[Mr. Charts]

KORS, another pre-market alert.
I just wait for one of my set ups.
Take the trade.
The majority are profitable.
The minority aren't and I exit those quickly so any losses are always small.
9 trades today, 2 were rising candle set ups, 7 used some of my other methods.
Winners and losers on my blog.
KORS +117c per share profit.
Pointer at time of entry.
Image taken at time of exit.
Method, method, method.

 

[thirstytrader]

KORS, another pre-market alert.
I just wait for one of my set ups.
Take the trade.
The majority are profitable.
The minority aren't and I exit those quickly so any losses are always small.
9 trades today, 2 were rising candle set ups, 7 used some of my other methods.
Winners and losers on my blog.
KORS +117c per share profit.
Pointer at time of entry.
Image taken at time of exit.
Method, method, method.

Do you have a live trading forum?

 

[Mr. Charts]

Do you have a live trading forum?

I have run a private live alert site since December 2005.

 

[Mr. Charts]

Another two from today:
RIG +45c a share (oil stock)
QQQ +27c a share (ETF for Nasdaq)

Choose the stocks, just wait and see if there is a set up.
I have my list of pre-market alerts which is then added to by scanning after open.

7 trades today, 2 using falling candles, 5 using other set ups.
5 winners, 2 losers.

Here are the two falling candle trades:

 

[thirstytrader]

I have run a private live alert site since December 2005.

How can we join, or can we? thanks

 

[Mr. Charts]

If I discuss that here a mod would ban me for advertising !

 

[Ambrose Ackroyd]

Ambrose Ackroyd is back !!