Best Thread How To Make Money Trading The Markets.

[Mr. Charts]

Even on go nowhere days like today, there are opportunities.
Here's one from my pre-market list using the falling candles method. In the minutes before open it started rising which is often, but not always, an indication of an early move up. However, my approach is never to assume anything is sure to happen. I trade what IS, not my opinion. That gives me the flexibility of not having pre-conceived ideas, but of trading set ups and price action itself.

VRX +55c per share

 

[Mr. Charts]

Some people think you have to have a PDT account with a minimum of $25k in it to trade like this.
Not true.
You can trade CFDs on most of the stocks I trade with quotes as good as the actual market with some CFD providers for a LOT less in your account.

 

[Dowser]

Some people think you have to have a PDT account with a minimum of $25k in it to trade like this.
Not true.
You can trade CFDs on most of the stocks I trade with quotes as good as the actual market with some CFD providers for a LOT less in your account.

Interesting! Are these American brokers? How much leverage is allowed?

 

[Mr. Charts]

Check out interactivebrokers. US firm in London.

 

[Mr. Charts]

Sometimes you get almost a no brainer and after ABX results and forecast came out and it started falling in the pre-market, the probability of a good set up and price action was very high.
White line at time of entry (on 5 min candles) and image taken at time of exit.
+71c per share
That's $710 for a 1000 shares, $355 for 500 and pro rata of course.
It's always a matter of waiting for the right high probability opportunity with the appropriate methodology, never be rash or impatient and cutting any losers while they are still small.
Not difficult stuff.

 

[Mr. Charts]

And CFDs available on ABX so you don't even need a PDT account to trade it.

 

[Mr. Charts]

One from my pre market list.
TLRD +50c per share
White pointer at time of entry using falling candles method.
Image at time of exit.
Not rocket science.
Choose a high probability set up and cut any losers quickly.

 

[Mr. Charts]

And TLRD can be traded using CFDs as well, so you only need a few thousand pounds, not the $25000 in an account that everybody thinks. And the spread in the real market and on CFDs is only one cent at the moment.

 

[Mr. Charts]

This same rising candle method on CRC today produced +58c a share.
I found CRC scanning a few minutes after open.
The entry was a little later than ideal but was dictated by the time of the scan which found it.
Again CFDs available for this stock as well.

 

[Mr. Charts]

An even nicer one today. AAOI was on my pre-market list. It didn't trend from the start but chopped around until the buying poured in. I waited longer before entry because I wanted to see a lasting trend after the break from congestion.
A nice +123c per share.
All winners and losers on my blog as always.

 

[Mr. Charts]

AAOI is also available as a CFD.

 

[Dowser]

Forgive my ignorance, is T&S and Level 2 data generally available with CFD accounts?

 

[Mr. Charts]

It is with interactivebrokers.

 

[Mr. Charts]

Same again with a pre market gapper choice.
CLNT 3 min candles +92c per share.
Not rocket science.

 

[Mr. Charts]

Just two of today's trades using the rising candles method. Both stocks taken from my pre-market alert list.

Both risers in a falling market. You're trading the stock not the market, and if the trend is strong there is no reason not to go against the prevailing market direction.
I know that goes against the accepted "wisdom" but it is not only logical, but works well since I've been doing it since I started to trade for a living 17 years ago.

Obviously weaker movers are more vulnerable to the way the wind is blowing.

DDD +61c per share
ABBV +75c per share

 

[Mr. Charts]

GME was on my pre-market alert list and produced a nice +58c early move when it set up the falling candles method.
All winners and losers on my blog as always.

 

[Mr. Charts]

TRGP was on my pre-market alert list and set up the rising candles method before the open so I went long when the set up was triggered.
+60c before the market even opened.
If everyone is rushing to buy before open then join them.
Being a contrarian is a self-generated ego based game in your mind; it's not in the real world.
You wouldn't stand in front of a speeding train....would you...unless you're contemplating suicide.
Go where the right and appropriate set ups suggest when there is a price action trigger.

 

[Mr. Charts]

As with all limit orders, you might not get filled !

 

[mikeh0512]

Hello Mr Charts,

My name is Mike Harwood. I have just spent an enjoyable couple of days reading through your
“How To Make Money Trading The Markets” thread, and I must say I am very
Impressed by your system.

I would like to try something similar myself and would be very grateful if you would answer a
few questions for me.

1) As a UK resident what in your experience are the pros /cons of a normal margin
account vs. A CFD margin account ?

2) What features of a stock should a beginner scan to identify possible opportunities ?

I am also interested in taking part or all of your video course. Shall I contact you separately ?

MH

 

[Mr. Charts]

Hello Mike,
1. I use a normal margin account, though I started off using CFDs many years ago. CFDs are good if you don't have the $25k for a PDT account. I never found any disadvantages using CFDs but that was a long time ago.
2. Movement on the day, news, gapping etc