Best Thread How To Make Money Trading The Markets.

[amit1986]

Mr Charts,

Did you take a trade on any of those stocks you mentioned (MCK, V, APOL, CEPH)? The only one I see that presented a good move was CEPH.

Also, when do you determine when to stop trading for the day? Do you have a profit target, that once you reach, you stop trading? Or is it based more on how you are feeling at the time? The reason I am asking is because many professional traders trade full-time, while many professionals also recommend not to "over trade". So it seems there must be a balance between the two?

Thank you,

Amit

 

[Mr. Charts]

How long you trade for is a matter of personal preference.
While I was a dentist I traded US afternoons (UK evenings) but then started taking some UK afternoons off so I could trade the full day. When I gave up my practice to trade I obviously could trade full time.

Last night was very satisfactory.
My trades were:
V +80c
-22c
+$1.12

APOL +96c

I'll put a bit more on my blog in a few minutes.

Richard

 

[amit1986]

Great trading!

Amit

How long you trade for is a matter of personal preference.
While I was a dentist I traded US afternoons (UK evenings) but then started taking some UK afternoons off so I could trade the full day. When I gave up my practice to trade I obviously could trade full time.

Last night was very satisfactory.
My trades were:
V +80c
-22c
+$1.12

APOL +96c

I'll put a bit more on my blog in a few minutes.

Richard

 

[Mr. Charts]

Thanks, amit, but it's just method method method discipline discipline discipline.
Richard

 

[danny10]

Hello Mr Charts

What advice can you provide for developing a strategy any particular reading lists etc? Why do you choose the NYSE and not FTSE?

Thanks

Danny

 

[Mr. Charts]

Hello danny10,
I guess you haven't read the whole thread as you appear to only have joined yesterday.......
If you click on my name on the top left of this post, click on "home page" and you will get to my open site and there is a long description of why I trade US stocks on the "about us" section.
HTH
Richard

 

[bm200906]

- some great opportunities to use Richard's methods on RIMM & GRMN today - took over a $1 out of RIMM & about 90c from GRMN (more than one trade on each).

- took a great 79c from one of the RIMM trades - in at $61.73 (at 14.47) and out at $60.94 (at 14.54)

(- I haven't figured out how to post charts yet? advice welcome)

 

[Mr. Charts]

- some great opportunities to use Richard's methods on RIMM & GRMN today - took over a $1 out of RIMM & about 90c from GRMN (more than one trade on each).

- took a great 79c from one of the RIMM trades - in at $61.73 (at 14.47) and out at $60.94 (at 14.54)

(- I haven't figured out how to post charts yet? advice welcome)

Hello Barry,
Great stuff ! I'm very pleased you're doing so well using my methods
If you need any help or advice just email me
Best wishes,
Richard

 

[bm200906]

Hello Barry,
Great stuff ! I'm very pleased you're doing so well using my methods
If you need any help or advice just email me
Best wishes,
Richard

Thanks Richard - I just need the discipline now to stay out of the trades which don't work quite so well - but that's coming too (slowly but surely)

 

[Mr. Charts]

Thanks to whoever deleted that weird post, good housekeeping when I hadn't even reported it
Richard

 

[Mr. Charts]

This early trade was a fast mover using this technique, but only very experienced traders should do this particular sort of thing as it was a volatile stock.
I'm mentioning it as I know there are such experienced people reading this thread.
So, although most trades on this thread can be done by anybody who is decisive, this one is NOT for beginners !
+$1.33 FSLR

Richard

 

[Mr. Charts]

What a wonderful day's trading !
Tons of opportunities in the fall.

 

[Mr. Charts]

WYNN, COF, X, AEM and lots of others produced loads of opportunities just using this one set up alone.

 

[amit1986]

I must agree. Today was a great day!

I actually scalped X for a quick 6 cents per share. It came up on my scanner too late for me to catch an earlier move. But 6 cents is better than nothing.
MON was wonderful as well.

Good trading Mr. Charts!

Amit

 

[Mr. Charts]

Some lovely bounce trades once the market turned as well

 

[Mr. Charts]

People talk of algos, dark pools, flash trades etc ruining the market, but not in this sort of trading !
There's money to be made every single day.
On a day like today you're spoilt for choice
Richard

 

[Mr. Charts]

Here's one from today which was not for absolute beginners using this technique but didn't require much skill, just method and appropriate position sizing. The reason for having it on my pre-market watch list is on my blog.
There was a spread of a few cents and my exit was at the very low of the day so far.
+88c per share

 

[Mr. Charts]

Today is FOMC day and can be quiet, though there are a large number of results coming out pre- (and post-) market today.
I'll put a few on my blog in a minute but STEC took a hammering last night and I'll be keeping a close eye on it during market hours and will see if there are any opportunities pre-market as well.

Richard

 

[Mr. Charts]

Those of you who checked my blog after my last post and saw my alert list and used the technique on this thread on 5 min candles on GRMN - the only one that set up - would also have made 48c before the market has even opened

 

[Mr. Charts]

Just taken another +$1.10 out of GRMN
Didn't take screen shot of chart, but check out the 1 min candles and you will see falling candles as per this thread and then exited when candle took out high of previous.
A nice bite out of the move
Richard