I've never said that I understood and applied the methodology perfectly! Indeed, I would expect that someone who uses the approach successfully would say that I didn't apply it correctly. That would be logical. Why I decided that it's not for me has no bearing on the pro's and con's of the methodology. I don't happen to like eating duck, but that doesn't mean that duck can't be enjoyed by others.Er... rhetorical I know, but I don't understand. Perhaps you could clarify?
1) You understood and applied the methodology perfectly. It clearly works but you decide "it's not for me". If so, on what basis would you decide that it didn't work for you. If you wanted to add to other people's understanding then being more explicit about this aspect would help. Simply saying that something doesn't suit you really doesn't tell anyone anything. Or does it?.
Yes, I would, for the reasons quoted above and because there are plenty of peeps on this thread who find the methodology useful and have openly thanked Richard for his contribution. How well (or otherwise) any one individual trades the methodology is down to them and independant of the methodology itself. Horses for courses, one man's meat is another man's poison etc.2) You didn't understand the methodology sufficiently to be able to apply it correctly. Fair enough, but then you would hardly be in a position to state that "there is nothing wrong with the methodology". Or would you?
I think we're going round in circles here! Again, maybe I didn't understand it and apply it correctly. Who knows, who cares! It's immaterial; my experience is mine - yours will be completely different (probably). I should point out that this methodolgy isn't - and wasn't - the basis of my trading or why I had 1-2-1 tuition with Richard. It was very incidental to what I was doing at the time.3) You understood the methodology perfectly but couldn't apply it. This implies that the successfull application of the methodology requires other skills, characteristics, qualities that you don't possess. That is of course fine. But then you can't really judge whether the methodology works or not if you don't have the wherewithall to make it work? Or can you? I guess it would also be helpful to others looking to make use of Richards services if you or he could then say what additional qualities were needed.
I have no issues with members questioning Richard about his methods - that's fine by me and, I would think, fine by Richard too. However, the whole tone of Tenbob's post is that of an irrational attack. If he posted in a polite and courteous manner, doubtless Richard would have responded in kind. So, yes, Tenbob's post is negative. It's also unnecessary because it achieves nothing other than to clog up the thread with irrelevant detritus. As for Tenbob's post being offensive - yes, the bits of it that refer to me are offensive to me as I know my own mind perfectly and I take exception to someone suggesting otherwise. I trust that answers all your points comprehensively.If I had questions or points to make to Richard I wouldn't have made them in quite that fashion for sure, but offensive? Ying and Yang mate surely? If a vendor (no matter what their elevated status) cannot be subjected to reasonable questioning then it's a bit rich isn't it? Necessary? Well clearly Tenbob felt that it was. Negative? Depends on your perspective I guess.
I've never said that I understood and applied the methodology perfectly! Indeed, I would expect that someone who uses the approach successfully would say that I didn't apply it correctly. That would be logical. Why I decided that it's not for me has no bearing on the pro's and con's of the methodology. I don't happen to like eating duck, but that doesn't mean that duck can't be enjoyed by others.
The reason 'why' isn't anyone's business but mine, nonetheless, seeing as you asked sandpiper, I'll tell you. I waited too long for confirmation that the stock was trending and then entered the trade too late, often near the high or low of the day before price duly retraced. Those are psychological issues down to me, it doesn't reflect on the methodology at all. If it was a fault of the methodolgy or Richard's teaching of it, then this thread would be littered with posts by members complaining of the same problem. There aren't any (that I'm aware of), which suggests that the problem was down to me and not the methodology. I hope that's clear.
Yes, I would, for the reasons quoted above and because there are plenty of peeps on this thread who find the methodology useful and have openly thanked Richard for his contribution. How well (or otherwise) any one individual trades the methodology is down to them and independant of the methodology itself. Horses for courses, one man's meat is another man's poison etc.
I think we're going round in circles here! Again, maybe I didn't understand it and apply it correctly. Who knows, who cares! It's immaterial; my experience is mine - yours will be completely different (probably). I should point out that this methodolgy isn't - and wasn't - the basis of my trading or why I had 1-2-1 tuition with Richard. It was very incidental to what I was doing at the time.
I have no issues with members questioning Richard about his methods - that's fine by me and, I would think, fine by Richard too. However, the whole tone of Tenbob's post is that of an irrational attack. If he posted in a polite and courteous manner, doubtless Richard would have responded in kind. So, yes, Tenbob's post is negative. It's also unnecessary because it achieves nothing other than to clog up the thread with irrelevant detritus. As for Tenbob's post being offensive - yes, the bits of it that refer to me are offensive to me as I know my own mind perfectly and I take exception to someone suggesting otherwise. I trust that answers all your points comprehensively.
Tim.
This question has been address again and again, and can be adjusted to suit your risk tolerance, using the ATR as a guide.Mr charts
What is your maximum drawdown on this system in points?
O D T
people confuse systems with underlying factors, mr charts method is not a system and certainly not a system that will suddenly stop working, it is based on human psychology, greed and fear, and that will never change, and certainly not in our life time.All systems will fail when market conditions change. Markets are dynamic and markets change .How does the system cope if volatility increases ?Does the system will fail ,if stops will get hit much more frequently ? .If market conditions become consistently choppy,does the system fail?.
O D T
when you start trading you only need one setup trying to do too much just confuses you,In your case you have 10 other set ups (systems), if this one was not showing good set up,you would trade the others i.e retracements , reversals etc.The traders of this single system would be handicapped or wouldn't they?
O D T
I think there is absolute clarity here.
If the free strategy is not right for them I doubt that anyone would say - Oh it hasn't worked because I don't know about L2, so I will have to be trained on that. I think they would be more likely to say, "Richard's strategy is not right for me, so I won't pursue training with him further".
AhThere is never absolute clarity on this BB
This is exactly what naive newbies would do, 'can't make it work for myself, pay for some expert help'.
Hi Mr Charts
read all this carefully worded thread Richard
some very good posts, your willingness to help new/old traders find their feet in a dificult game is to be applauded
BUT ~
you are a vender
looks like your fishing for punters which is fair enough I guess, you have declared your status
"I'm not going to go into detail publicly about how I do this, but a lot of the time level 2 is just noise/insignificant. There are times when it is priceless because it tells you what is highly likely to happen BEFORE it does.That becomes extremely difficult on very fast moving stocks, it becomes unreadable as you infer. However, on other stocks it is very readable at key points and that is when it is priceless for keeping you out of, just as an example, breakouts which then go on to fail. It's not infallible, but it gives me a huge edge.
Yes, it certainly is possible to trade the chart patterns only and make a profit, but the success rate won't be as high or the profits so substantial
I view charts as being two dimensional; the third dimension is level 2 T&S; not always necessary, but sometimes a huge help.
Hope that helps,
Richard
__________________
Mr. Charts
Full time US Share Trader"
"Hello shopsmart,
I read news stories pre-market and use scanners before and during market hours to find stocks which might create the set ups I use - of which this thread is about one only.
I also use level 2 T&S to provide a trigger for the trade. You can manage without level 2 t&S but it gives me a huge edge; it sometimes, not always, gives me key evidence as to whether a trade will work or not.
Richard.
__________________
Mr. Charts
Full time US Share Trader"
without any indication to your use of T&S it appears like you are fishing for punters = pay me and I will show you how to make a decending 20ma system work for you
you could have stopped the thread after 3-4 pages with all detail contained if your motif was not a fishing expedition imho
"any trading system that is not 100% undeniably controlled by some mechanical means or fixed rule in every single aspect of its existence is judgemental in some way, no matter how small"
"any system with a judgemental component will work better for the system developer than for some random person who buys it and puts it into action. The only way to profit from a system in the same way as the developer is to take the same signals that the developer takes, and exit when the developer exits"
regards any questions raised by other posters that were not in agreement with you or part method posted on thread ....... just general questions really, nothing very aggressive or unreasonable imho
many times others answered on your behalf in an aggressive endorsing manner, imho killing any debate regards the validity of the (PART) method posted on this thread, you then later endorse the answer when the gunfire is judged to have subsided or that is how it appears
one poster in particular is one of your happy clients, he appears to be a reasonably hard working chap and yet even he concedes he cannot manage to turn a consistent profit with your method
performance issues he blames on his own short falls
imho it is not his shortfalls but a reflection on yours and this half posted method on a thread started by a vendor
you have some 12 setups you use and your obviously very busy with other stuff, if your going to post a method to help new traders it should be complete imho, it does not need to be great but it should be complete
I accept you made it clear in your 1st post regards T&S part of method and discretion used by yourself not being part of the thread and I can understand why, perhaps you did not consider any problems regards the omission of T&S
the fact remains that the method can"t be properly back and forward tested by any traders without it
you state your a full time trader for 10 yrs, you must be aware a half method is no method at all Richard
perhaps you could if you get some spare time post exact guidance to entry criterior without T&S
strongly trending 1-3 min tf is open to misinterpretation judging by some of the posted charts by others
your criterior for not entering
your definition of S & R nearby (reason given for no valid entry) ............. pdh & low or other S&R definition you consider ?
perhaps a 1-10 bullet list might help , the thread is 60 ish pages long
Hard Hat on
latter
Andy
I am not getting involved in flame wars with anybody. I've got more important things to do.
That does NOT mean someone can get away with lying and gross distortions.
If someone has a personal vendetta against timsk – and it’s totally beyond me why anyone on this planet should have any animosity towards him – then maybe they should look inside themselves to find the real source of the “problem”.
What a shame decent genuine helpful people like him get attacked for no reason.
There is “one” poster on this thread today whose comments I haven’t read as I have him on ignore. Anyone who posts messages wanting me dead when he doesn’t even know me needs the sort of help I can’t provide.
Neil, your post, “I think the thread should be closed. Seems little point in continuing now the trolls have appeared. Richard has provided more than enough free info. for anyone prepared to put in the work to succeed.
Special thanks for all the charts Richard. “
Thank you for your kind words. I agree with much of what you’ve said but I don’t want the thread closing because all the material in it would soon become lost. The idea was to provide a methodology that many people would be able to use to their personal benefit and profit. Closure because of an attack like that would negate the purpose of the thread to the detriment of others who have and might find it useful in some way; even if they find the method doesn’t suit them then there might be other aspects like risk control and position management which they do like. Others have already adapted the concepts to other trading instruments.
Whether I will continue the thread or spend as much time posting and answering questions – including many off board – is a different matter.
I can’t help wondering whether I really want to be bothered to post material which those individuals who choose to try and wreck the thread might find useful themselves……but, hey, I won't let the trolls win. No way.
Bfirth,
Thank you for an excellent and intelligent post and for your kind words. Spot on. One of the few posts worth reading a second time.
Charlton, there is a lot in what you say.
Most of the people who I have trained have come to me via personal recommendation, though some from googling and researching me and so on.
There are several others who I have declined to train for various reasons, including one recent poster on this thread.
You have also hit on an essential element in teaching, which is that the people who tend to do best are those who are taught or encouraged to also think for themselves as well as being taught what works and what doesn’t and why. That understanding is key, imho.
Thank you to everyone who has made positive contributions.
There have been people in the past who have tried to attack me, usually because they are the BB equivalent of vandals, sometimes for deeper reasons.
Quite a few very capable traders over the years have been driven away from t2w.
No one has succeeded in driving me off here and no one ever will.
I don't give up.
Simple.
Richard
I think there is absolute clarity here.
Richard has shown clearly that he is a vendor, both in his badge and in occasional references to how his career progressed from dentist to trainer.
He has told us many times that the strategy he presents in this thread comprise just one of those that he uses and that it does not NEED level 2, even though you might get a better edge by using it.
He has provided free education here and it is up to each follower of his thread to decide whether the free strategy is right for them.
If it is right for them, they then need to determine whether or not they wish to pursue further 121 training with him to learn about L2 or other strategies. I assume that they will do that based on whether they have already made a profit using the free strategy.
If the free strategy is not right for them I doubt that anyone would say - Oh it hasn't worked because I don't know about L2, so I will have to be trained on that. I think they would be more likely to say, "Richard's strategy is not right for me, so I won't pursue training with him further".
It seems that many people have enjoyed his thread and wish it would continue.
It is a shame that so many threads end because of emotionally charged language rather than civilised debate and questioning. It would also be more fruitful if this debate was conducted outside of the thread in question in those cases where the flow of the thread would be ruined for those who wish to follow it.
Charlton
SplitlinkThere is one specific question that I would ask you and others, though.
What was wrong with tenbobtrader's post?
No opinions without specifying the offending words, please. A thread should be able to survive one dissenting poster. So should a another poster. I have had more hurtful things said against me in my time. I certainly, have no intention of leaving because of the opinion of one person.
not much of an oar was it
I agree mr charts is a vender and he is very open about it (see open to my my post)
followed the thread from the start and repped 1st post under the AKA bladerunner and a couple of other posts I think
re read the thread again
never attempted to trade method, not that interested in US stocks
posted what I did not understand on the thread in apparently the wrong tone
excellent response so far by everybody except mr charts
mr charts could have answered my post in a bullet format for the benefit of other thread followers and moved on
I was about to post a short thank you to mr charts initial response advising readers to check it out for themselves
usual sheep started posting their allegiance and reppying each other in some mad feeding frenzzzzzzzzzy
There is “one” poster on this thread today whose comments I haven’t read as I have him on ignore. Anyone who posts messages wanting me dead when he doesn’t even know me needs the sort of help I can’t provide.