Best Thread How To Make Money Trading The Markets.

DionysusToast said:
James - it's good to see you making money from this setup but you are setting yourself up for failure if you try to program it.

The way Richard trades is effectively a 'scalpers entry' combined with a TA setup. The scalpers entry being based on L2/T&S information.

I can't tell you how many bad (and some good) trades this keeps me out of. It also gets me in just seconds before the price aggresively moves in my direction. Now, a scalper would exit at this point but Richard doesn't, some trades come back on you but others make a decent move.

I use Tradestation and I can tell you that with that platform, it is not possible to code based on the order book, as such your win rate will certainly be lower than Richards.

On a lot of trades, I am out with a few cents profit/loss just because there was no follow through on the L2/T&S - there are a few nuances to making money this way and they are not all explained on this thread. I think that has been explained by Richard himself.
Click to expand...

This is exactly right, though I do sometimes enter trades purely on charts (as I did on many of the trades on this thread) if level 2 T&S is not as positive as I would prefer or neutral or unreadable.
Anyone reading my blog will see that this week alone I had 5 losing trades out of 13.
However, note that although 8 were winners, two were small, but six were substantial.
Even more importantly the five losers were small.
Richard
 
don don don. what a DAY! many stocks spreads are Soooo WIDE. And seems like IB freezes often due to high volume. staying away for now.. hahaha what a day :)

Mr. charts. How do you handle such a high volatility day? Do you just trade with lower number of shares? or wiat till things get stablized.

thanks
 
When the market waterfalled late on I was happily eating an excellent Bengali meal :)
I had quite a reasonable day with just one small loser which was using the method in this thread and I grabbed a screen shot of it.
I might post it up to demonstrate I do have losers :) or perhaps I won't bother :)
Today's results are up on my blog.
Going to put my feet up and watch the night unfold.
Richard
 
Mr. Charts said:
When the market waterfalled late on I was happily eating an excellent Bengali meal :)
I had quite a reasonable day with just one small loser which was using the method in this thread and I grabbed a screen shot of it.
I might post it up to demonstrate I do have losers :) or perhaps I won't bother :)
Today's results are up on my blog.
Going to put my feet up and watch the night unfold.
Richard
Click to expand...

Excellent stuff as always.
Good job. (y)





.
 
Thanks D70

Nasdaq will cancel all trades on May 6 executed between 14:40:00 and 15:00:00 greater than or less than 60% away from the consolidated last print in that security at 14:40:00 or immediately prior.
I think NYSE as well.

Richard
 
richard have you had a losing day since this thread started?, as i have not seen one yet. Please advise. Can you post here for your clients your win/stratch/losing ratio please?,

Im getting some emails from people which i did not expect to be honest so there are some with same concerns as me but un willing to post that it seems.

I had many small losing trades yesterday myself and ended up slightly down on the day, first losing day with this system. The good thing im finding is the losing trades are kept small and we are able to stratch many trades too using the dom, but too many small losers and not enough runs make this no different to any other system. i have had 4 emails from people who have done the course and 3 of them are having the same troubles. So if you are not experiecing any losing days as it seems you are, i find this very hard to believe.

You could blame it on experience or level 2 or not following the rules but people here are serious about their trading and are experienced and disciplined enough to follow the system so we cannot use this as an excuse. I worked at a prop house at a time when high speed scalping using the x trader orderbook worked, that game is dead now of course, but my point is i would say im just as good imo as anyone reading flow so again we cannot use this as an excuse imo.

Some people been at it a while and still not achieving the results richard has. It shouldn't take too long imo to make money and be at the same level as richard in my view, its just common sense and people think people are mugs and not doing it right but infact people can follow a system especially when they are serious about getting somewhere. This is a poor excuse again.

It does seem no one can perform this system as richard does.

This thread has been excellent for richards business and thats why he will not give it up that easy.

He has an excellent reputation here and thats all from never posting any statement of account, i find that amazing.

There is a follow the crowd mentality here but richard is human and no better than you or I

If you want to find out more about the 12 methods of trading richard heres a link one of his clients sent me saying they are very similar to what he teaches.
 
Here's something amusing. T_E pointed us towards a book by Ken Haggerty called "The Generals"

As a student of Richards, I can tell you that a number of the setups that Richard teaches are not dissimilar to those discussed in the Haggerty book. Anyone with zero posts will not get a reply if they ask for this book from me but good contributors will be rewarded accordingly :sneaky:

How amusing it is, that T_E attacked Mr C and then pointed people towards stuff that Mr C uses himself. Of course T_E never had the benefit of knowing what Mr C teaches in full. I would love to get the 2 of them in a room with a couple of beers.

Here is my advice to James that I gave in a PM....

- stop banging this drum
- contact Mr C on the email I gave, don't mention who you are on this thread
- Tell him where you are in trading, what you know, what you don't know
- see how he responds
- be humble (OK - this wasn't in the PMs but is required)

Maybe I'm an anomaly but I got lots of free help and advice and not a single request to take his course.

My take on James is that he thinks Mr C may be legit but he is looking at an industry which is 99.99999999% bullsh1t.

James - let's have a chat on Skype/MSN - you have my id. I do fully understand what you are going through right now.

Mr C does not pay me for this - but I do have a lot of time & respect for him. I would be where James is now where it not for Mr C - but I still had to put a LOT of time and effort in myself to make it work.
 
I have just noticed that James has been banned - this is well out of order in my opinion and some people will now have a lower opinion of Mr C because of it.

James - you have my Skype/MSN - the offer is still there. If you no longer have access to them - them create a new id on here, PM me and I'll send my details so we can chat.

T2W mods - you really need a class in psychology. Do you have any idea how much damage it does the attacked when you ban the attacker ?

James is making some errors board-wise but the guy just needs some guidance in my opinion.

Obviously - if you know that he's one of the regular Mr C bashers with a new Id, then I can forgive you. It just didn't look that way from my perspective.
 
DionysusToast said:
T2W mods - you really need a class in psychology. Do you have any idea how much damage it does the attacked when you ban the attacker ?
Click to expand...
Hi DT,
I'm not 100% certain, but I think the ban is temporary. To be fair to the Mods, there appears to be rather more to james1234 than meets the eye and his posts to this thread are just the tip of the iceberg. If you're unhappy with the actions of the Mods, I recommend winging a PM to them. In these transparent times, I'm sure they'll be happy to explain why they've done what they've done.
;)
Tim.
 
timsk said:
Hi DT,
I'm not 100% certain, but I think the ban is temporary. To be fair to the Mods, there appears to be rather more to james1234 than meets the eye and his posts to this thread are just the tip of the iceberg. If you're unhappy with the actions of the Mods, I recommend winging a PM to them. In these transparent times, I'm sure they'll be happy to explain why they've done what they've done.
;)
Tim.
Click to expand...

Sorry Tim - I can't co-operate on 'winging' a PM.

My PMs have to be 'whinging' - I presume you appreciate the difference and my difficulties in having another personality shift.
 
OK - so it appears that James is the new nic of a serial basher of Mr C.

Moderation was top draw after all. :LOL:

If James's posts go, then feel free to also remove my replies to him as I don't want to clutter up this thread.
 
by banning me only makes mr c look bad and possibly a share holder of t2w and de values this thread even more imo.

i will not say no more incase i get banned, Im not a seriel mr c killer if thats what you think, infact ive been scared to raise these issue in the past as everyone who has seems to get banned. shame though as i was only creating debate, and would have accepted a response from mr c on the issues i raised. We are now doing what i didn't want and thats getting away from the real issues here. You cannot get this thread back on track yet as clearly im not the only one with concerns here, it needs authenticity now and anyone else creating a thread like this too would be asked for authenticity. Trade2win you are making this guy rich here!, surely what im asking for is worthy as anyone can become a mentor. Ive always said that mentors should do a test and provide statements and broker statements for the last 2 years to trade2win admin before they get the badge, whats wrong with this idea?.

No one wins with this method as much as richard states, so someone is lying either me or him.

I will not post again after this comment, if you ban me then fine but i give my word.
 
lol @ James or Jason.... This is not very complicated.

Mr C does not have a magic market spirit level or a set of unique indicators. Some of the setups he uses can be found elsewhere. This should not come as a shock to anyone. Just because he teaches his methodology doesn't mean it has to consist of only things that cannot be found elsewhere. That would be ludicrous. Some of his stuff is stuff I have not seen anywhere else but some I have seen in other places since.

He has his methodology which is a combination of things and the setups are a part of that but not the totality. You can contact him and pick his brains before taking a course. You are free to then take a course or not but you will not be pushed into it.

I will admit that I do not make as much as Mr C following his methods but he's been doing it for 10 years and I've got roughly 6 months. There is a very easy way to check Mr C out further - get in touch with him.

Anyone expecting to take this course and be profitable the next day is dreaming and Richard will make that very clear to anyone contemplating taking the course. Some people just don't want to put the effort in.

You yourself PMd me asking me if I could automate this setup and backtest it to see if it is profitable. What if this setup occurs on a long at 09:55 and there's an economic announcement at 10am ? What if the market has just rolled over ? Do you still go long ? Of course not. Learn to trade it first & you'll soon learn why automation of this setup in such a simplistic way is just a pipe dream.

How long have you been at this game Jason ? Years isn't it ? You aren't any closer to getting into profit. You should take a step back and try to figure out why that is. You should certainly spend a lot less time worrying about Richards mentoring and a lot more time on the issues that are holding you back.

Drop the whole automation thing. There is no point trying to automate trading until you have learnt how to trade. If you don't want to pay for a course and you want to daytrade, then switch off the internet, stop reading trading books and have a long hard look at how things move intra-day.

Either that - or just give up. Spend more time on your business and with your family and just write trading off as a bad experience. It is obvious that this is getting to you and it is a shame.
 
Mr. Charts said:
This is exactly right, though I do sometimes enter trades purely on charts (as I did on many of the trades on this thread) if level 2 T&S is not as positive as I would prefer or neutral or unreadable.
Anyone reading my blog will see that this week alone I had 5 losing trades out of 13.
However, note that although 8 were winners, two were small, but six were substantial.
Even more importantly the five losers were small.
Richard
Click to expand...
Thoroughly enjoying working my way through this thread. Mr, Charts, regarding your previous comments of "mental stops only" I find it hard to not have at least an emergency stop to guard against a locked up machine or such.
 
That's very understandable and sensible. Personally I haven't had a computer failure for several years - I'll probably have one on Monday now !
Thanks for your kind words.

Great day's trading again today.

Blog updated to yesterday.
Richard
 
Great thread Mr. Charts

APOL was good today for multiple trades. I pulled a buck total on 3 trades.
 
razor99 said:
Great thread Mr. Charts

APOL was good today for multiple trades. I pulled a buck total on 3 trades.
Click to expand...

I was away helping someone today and we spotted APOL too.
Well done, you must be as sharp as a ..... :cheesy:
Richard
 
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