Best Thread How To Make Money Trading The Markets.

[duncanhoo]

thank so very much for this tip...i have been struggling with "reading" level II on E11. Going to try out 10.6 today.

Duncanhoo, very good works, the level 2 of esignal 11 do not have regional option, so is not as good as esignal 10. When you use this methord in 1m timeframe, level 2 is the key.

 

[aberden]

The new upgrade of esignal 11 will have level 2 regional option by the next month, i will try it when this option available

 

[coopster]

The new upgrade of esignal 11 will have level 2 regional option by the next month, i will try it when this option available

Be very careful with E Signal 11. It has repeatedly quit on me unexpectedly with no warning. I wasted a good hour moving windows around to get it setup how i like it and suddenly it was all gone.

Lucky i wasn't in a trade at the time!

 

[duncanhoo]

I had same issue with Tradestation on Monday - Entered two trades and the stops were all messed up in the software.....they fixed it.

I really like esignal 11 speed and layout but much prefer tradestation's order entry etc...anyone recommend something else?

Be very careful with E Signal 11. It has repeatedly quit on me unexpectedly with no warning. I wasted a good hour moving windows around to get it setup how i like it and suddenly it was all gone.

Lucky i wasn't in a trade at the time!

 

[Mayberry RFD]

I just found this thread while searching the web. I have briefly read a few pages and I like what I see.

 

[Mr. Charts]

duncanhoo and coopster,
If you have any questions or want an opinion/advice etc. about anything, just email me and I'll do my best to help.
Richard

 

[coopster]

duncanhoo and coopster,
If you have any questions or want an opinion/advice etc. about anything, just email me and I'll do my best to help.
Richard

Thanka Mr C, you have mail.

 

[Mr. Charts]

I've got a lot on with various things at the moment so there will be a delay in replying but I certainly will help
Richard

 

[RealDavinci]

Today i paper-traded this strategy.

10:30 Buy WFT @ 21.26 - sold @ 21.40 for +14c/share
10:46 Short PPL @ 25.61 - covered @25.41 for +20c/share

Both were late entries, but i am quite happy with the exits
Maybe it was beginners luck, i will see if i can test some more the following days.

Thank you Mr. Charts,
R

 

[coopster]

Today i paper-traded this strategy.

10:30 Buy WFT @ 21.26 - sold @ 21.40 for +14c/share
10:46 Short PPL @ 25.61 - covered @25.41 for +20c/share

Both were late entries, but i am quite happy with the exits
Maybe it was beginners luck, i will see if i can test some more the following days.

Thank you Mr. Charts,
R

Well done Davinci,

How did you find the stocks to trade?
What timeframe did you use on your chart?

 

[RealDavinci]

Thank you Coop,

WFT came up on the pre-market news (i use MarketWatch.com).
PPL came from a scan 10 minutes after opening (i use www.google.com/finance/stockscreener).
I only use 3-minute candles.

R

 

[Mr. Charts]

Great stuff, davinci.
As you've no doubt read in this thread, this method is just one of a dozen I use. If the market is choppy you will find fewer of this type of set up. If the market is trending - even if it's a trend in one direction which then reverses so it ends up more or less where it began - you'll find loads of them. In other words, one or two or three or four decent swings in the day generate lots of opportunities.
Test this particular set up out for yourself over at least a 100 paper trades to get a good feel for it.
Recognise not every day is the same on the markets.
Richard

 

[amit1986]

Recognise not every day is the same on the markets.

Certainly not

Case in point: today!

 

[Mr. Charts]

No, not an especially easy day today, Amit
I'm going to post a couple of trades of this set up from Monday shortly - a better day
(In that DVA roll over )
Richard

 

[amit1986]

(In that DVA roll over )
Richard

Nicely in profit

I contemplated taking it, but its ATR and spread were simply tooooooooo large...nice head-and-shoulders pattern though!

 

[Mr. Charts]

Yes, a nice little profit on the waterfall
Looking for a bounce or two now.
Richard

 

[Mr. Charts]

Don't you just love waterfalls and then a couple of neat bounces
Richard

 

[Mr. Charts]

It's often worth hanging on even on tedious days as sudden surges can happen followed by the bounces

 

[Mr. Charts]

Anyway, here are a couple of trades from Monday illustrating a frequently overlooked/denied reality.
You read everywhere that you should only trade in the direction of the market, and whilst that is broadly correct, once you are experienced you can trade reversals, pullbacks and bounces.
However, if a stock on my watch list is trending sharply up and another is trending sharply down, I'll trade them both. Why not?
Here's CDE which produced +36c a share.
Richard

 

[Mr. Charts]

And at the same time of day VTR for a lovely waterfalling +105c per share
Although you should always be aware of market direction, you are trading a stock, not the market and the driving force behind the buying or selling pressure in a stock producing the move may well be specific to that stock. Those are the stocks you are looking for, not something slavishly following the market and moving with it on index following algos.
Other than these two trades there were only two others on Monday, both small losers of
-4c and -3c
Richard