Best Thread How To Make Money Trading The Markets.
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Mr. Charts
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Very nice one, B 
Richard
Richard
Hi Mr Charts,
Regarding the first graph post 1241: There is no retracement, do you enter because of what you see on L2 ? i would have thought that given the price action you would have entered the previous candle. Did you catch this one a bit late, or i am wrong in my interpretation ?
Thanks
MD
Regarding the first graph post 1241: There is no retracement, do you enter because of what you see on L2 ? i would have thought that given the price action you would have entered the previous candle. Did you catch this one a bit late, or i am wrong in my interpretation ?
Thanks
MD
amit1986
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Pure level 2, but the chart was also looking nice. I was watching it as it broke the $60 decade level and it broke with sensational momentum, so even without the chart, it would have qualified for a long trade.
Didn't end up trading it though as the ATR was a little too high...would have been a nice catch, though!
Nice one Richard!
amit1986
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I understand. I was also watching it at the time you took the trade but the spread was too elastic...within a split second, the bids/offers would drop their price by 15-20 cents...I didn't feel I had any control over it, so decided not to take it. In fact, if you read my journal, I had posted about it and how I missed a nice retracement on it!
Mr. Charts
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md,
Amit has answered.
Thanks, Amit - enjoy the break,
Richard
Amit has answered.
Thanks, Amit - enjoy the break,
Richard
Mr. Charts
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I don't know how many times I've said this on this thread, but I do NOT read PMs unless I already know the author because of the unpleasantness of some who hide behind the anonymity of PMs.
If you want to ask a reasonable question privately, EMAIL me either via t2w or via my open web site.
If you want to ask a reasonable question privately, EMAIL me either via t2w or via my open web site.
Mr. Charts
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To the person in Monaghan who emailed me twice yesterday:
Please send me an alternative email address for you as you do not seem to be getting my emails.
Please send me an alternative email address for you as you do not seem to be getting my emails.
Hi Mr Charts,
I have completed reading the thread upto post #1252. I am new to T2W, and this is my first post. This thread you have started is indeed a gold mine. I am just starting out and learning as much as I can. All of your post has been very educational. As clear as you are in your post in regards to the methodology, I am still having trouble understanding your entries. I have looked through all of the charts as well. I have some understanding of your exits and as well the rules in staying with the trade, but I cannot seem to grasp your rules for taking the entry.
Can I be so forward as to request some direction as to the rules you use for taking the entry?
If you have time of course.
I look forward to all your future posts.
I have completed reading the thread upto post #1252. I am new to T2W, and this is my first post. This thread you have started is indeed a gold mine. I am just starting out and learning as much as I can. All of your post has been very educational. As clear as you are in your post in regards to the methodology, I am still having trouble understanding your entries. I have looked through all of the charts as well. I have some understanding of your exits and as well the rules in staying with the trade, but I cannot seem to grasp your rules for taking the entry.
Can I be so forward as to request some direction as to the rules you use for taking the entry?
If you have time of course.
I look forward to all your future posts.
Hi yogikeung,
The key things as i understand them are:
established trend,
brief pullback or pause in trend,
momentum evident on level2 and T&S as trend continues.
This combined with awareness of support/resistance areas and general market conditions at the time as confirmation.
The charts all look slightly different to eachother from a beginner's point of view because obviously Mr Charts knows this setup well and does not need the exact same chart formation each time so long as he can read what is happening on the chart and level2 screens.
Hope that helps, correct me if i am wrong Mr C, sorry to jump in!
thanks
The key things as i understand them are:
established trend,
brief pullback or pause in trend,
momentum evident on level2 and T&S as trend continues.
This combined with awareness of support/resistance areas and general market conditions at the time as confirmation.
The charts all look slightly different to eachother from a beginner's point of view because obviously Mr Charts knows this setup well and does not need the exact same chart formation each time so long as he can read what is happening on the chart and level2 screens.
Hope that helps, correct me if i am wrong Mr C, sorry to jump in!
thanks
Mr. Charts
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yogikeung,
Thank you for your very kind words - much appreciated
coopster (thank you very much ) has explained.
When you look at my charts here you might well think the entry point is variable, and it is, just as coopster says.
Think of it a different way.
You are in control of your exit point - where you get off the bus - but you might well be jumping on the bus between stops if it is moving slowly (and has an open platform like old London buses used to have). In other words think of yourself walking round a corner and seeing the bus coming and jumping on it or maybe jumping on if it slows down for traffic -allowing you to board.
This is a different concept to what most people think because they usually accept the traditional approach of assuming there is a SPECIFIC entry point and a specific exit. Not necessarily so.
If you start to think outside the box you start to see things others can't see - like not seeing the wood for the trees.
Translating that into the way I trade, I have a watch list which stocks are added to and removed from, i.e it's fluid. I might scan and see a stock which has ALREADY been moving for a while so the entry CANNOT be optimum. I then look to see if an opportunity arises; if it does, fine, if it doesn't, there's another bus coming along......
Hope that helps.
Richard
Thanks again coopster
Thank you for your very kind words - much appreciated
coopster (thank you very much
) has explained.When you look at my charts here you might well think the entry point is variable, and it is, just as coopster says.
Think of it a different way.
You are in control of your exit point - where you get off the bus - but you might well be jumping on the bus between stops if it is moving slowly (and has an open platform like old London buses used to have). In other words think of yourself walking round a corner and seeing the bus coming and jumping on it or maybe jumping on if it slows down for traffic -allowing you to board.
This is a different concept to what most people think because they usually accept the traditional approach of assuming there is a SPECIFIC entry point and a specific exit. Not necessarily so.
If you start to think outside the box you start to see things others can't see - like not seeing the wood for the trees.
Translating that into the way I trade, I have a watch list which stocks are added to and removed from, i.e it's fluid. I might scan and see a stock which has ALREADY been moving for a while so the entry CANNOT be optimum. I then look to see if an opportunity arises; if it does, fine, if it doesn't, there's another bus coming along......
Hope that helps.
Richard
Thanks again coopster
yogikeung,
Thank you for your very kind words - much appreciated
coopster (thank you very much
When you look at my charts here you might well think the entry point is variable, and it is, just as coopster says.
Think of it a different way.
You are in control of your exit point - where you get off the bus - but you might well be jumping on the bus between stops if it is moving slowly (and has an open platform like old London buses used to have). In other words think of yourself walking round a corner and seeing the bus coming and jumping on it or maybe jumping on if it slows down for traffic -allowing you to board.
This is a different concept to what most people think because they usually accept the traditional approach of assuming there is a SPECIFIC entry point and a specific exit. Not necessarily so.
If you start to think outside the box you start to see things others can't see - like not seeing the wood for the trees.
Translating that into the way I trade, I have a watch list which stocks are added to and removed from, i.e it's fluid. I might scan and see a stock which has ALREADY been moving for a while so the entry CANNOT be optimum. I then look to see if an opportunity arises; if it does, fine, if it doesn't, there's another bus coming along......
Hope that helps.
Richard
Thanks again coopster
Mr Charts,
Appreciate very much for sharing your wisdom. I will meditate on this and hope to see the light some day.
Thanks again for taking the time.
Mr. Charts
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Mr Charts,
Appreciate very much for sharing your wisdom. I will meditate on this and hope to see the light some day.
Thanks again for taking the time.
My pleasure, yogikeung, it's always nice "speaking" to pleasant and polite people
Richard
Mr. Charts
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Mr. Charts
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This is one of the reasons I day trade US stocks - so much choice, so many opportunities.
And here's one using the variant. The exit was the chart rule mentioned earlier in the thread.
This stuff isn't rocket science.
DECK +91c per share
That's Christmas paid for - deck the hall with boughs..... etc.
My other winning and losing trades today are on my blog on my home page.
Richard
And here's one using the variant. The exit was the chart rule mentioned earlier in the thread.
This stuff isn't rocket science.
DECK +91c per share
That's Christmas paid for
- deck the hall with boughs..... etc. My other winning and losing trades today are on my blog on my home page.
Richard
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Mr. Charts
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Follow the method; test, test and test again for yourself. There are plenty of images here to get the idea of what the set up looks like. Don't be lazy - read the whole thread. Don't email me asking for a brief synopsis, do the work, spend the time, the more you see the more you learn, the better you get.
Richard
Richard
