Best Thread How To Make Money Trading The Markets.

[stasbz]

Mr. Charts, do you trade through direct-access broker (you can choose what ecn to route your oder through?)?

 

[zhchong]

At IB you can specify destination exchange (arca,island,bats,...) in your order ticket; if unspecified IB uses "smart" routing that supposedly gets you the best execution.

 

[stasbz]

that will do

Do you watch any of the 13 set ups on 1 min or 5 min charts?

 

[stasbz]

that will do

Do you watch any of your 13 set ups on 1 min or 5 min charts?

 

[amit1986]

Do you watch any of your 13 set ups on 1 min or 5 min charts?

You can watch the setups on any time frame - 1-minute, 3-minute, or 5-minute. Best thing to do is to have the three time frames on another screen and if a particular setup occurs on any of the time frame, then watch that time frame and focus on level 2 / time and sales.

 

[Mr. Charts]

Thanks, Amit
Have a good trading day
Richard

 

[Mr. Charts]

FAS and FAZ giving opportunities in days of financial concerns.
Here's one from today using the method in this thread.
Entry arrowed, exit at time of screen shot.
+110c per share
All my trades including losers (!) on my trade blog.
Richard

 

[stasbz]

You can watch the setups on any time frame - 1-minute, 3-minute, or 5-minute. Best thing to do is to have the three time frames on another screen and if a particular setup occurs on any of the time frame, then watch that time frame and focus on level 2 / time and sales.

Of course id like to hear from Richard. But no problem, i inderstand that its his bread and butter and he dont want to share his patterns and approaches for free, because he makes money by traiding and selling hos coures. But since some time i cant understand why we need charts if we can trade solely from level 2 and TOS?

 

[stasbz]

FAS and FAZ giving opportunities in days of financial concerns.
Here's one from today using the method in this thread.
Entry arrowed, exit at time of screen shot.
+110c per share
All my trades including losers (!) on my trade blog.
Richard

May be is it better to find stock in play and trade it all day?

 

[Mr. Charts]

"But since some time i cant understand why we need charts if we can trade solely from level 2 and TOS? "

I never said that.
Most of the questions you ask have been addressed earlier in this thread.

 

[stasbz]

"But since some time i cant understand why we need charts if we can trade solely from level 2 and TOS? "

I never said that.

i can assume that you never told it. But i ask a question , not repeat your words.

 

[Mr. Charts]

Are you asking whether it is possible to trade using L2 T&S and nothing else?

 

[stasbz]

Are you asking whether it is possible to trade using L2 T&S and nothing else?

i know that it is possible, scalpers use just level 2 and T&S. So it is possible to trade a stock and take not only small movements, but also ride big movements by look at order flow . In any case it is important to look at order flow.
Therefore id like to ask what edge is chart give in that case (assume, i can remember all main high and lows )?

 

[amit1986]

i know that it is possible, scalpers use just level 2 and T&S. So it is possible to trade a stock and take not only small movements, but also ride big movements by look at order flow . In any case it is important to look at order flow.
Therefore id like to ask what edge is chart give in that case (assume, i can remember all main high and lows )?

Think of it this way: the chart shows you a story and level II helps to confirm whether or not that story is likely to continue.

Anyone can look at a chart and spot patterns; it's not very difficult to point out double bottoms/tops, hammer reversals, head-and-shoulders, breakouts, etc...it doesn't require much practice to master the ability to spot a chart pattern. However, that alone cannot give you an edge. Otherwise, everyone would be making money and eventually, that opportunity would disappear. But charts do help in identifying a good pattern. By practicing the ability to read and understand level II behavior, you can you can gain an edge.

There are people who trade purely from level II and avoid charts. I figure, why not put all the positive probabilities in your favor? Find a clean trending stock on a chart and wait to see if level II and time & sales confirms whether or not the story on the chart will continue. Both complement each other.

 

[Mr. Charts]

Great post, Amit. Talk later

As I've said before, I'm not discussing the details of how exactly I use L2 T&S, but I use it as a trigger for entry and often exit and sometimes it's a great edge. You can certainly use it as a scalper's entry into a swing trade and I often do.

 

[stasbz]

Great post, Amit. Talk later

As I've said before, I'm not discussing the details of how exactly I use L2 T&S, but I use it as a trigger for entry and often exit and sometimes it's a great edge. You can certainly use it as a scalper's entry into a swing trade and I often do.

i am not going to ask you how you use level 2 and t&s . i just told my opinion in the form of question and wanted to listen your opinions.

 

[MajorDutch]

Great post, Amit. Talk later

As I've said before, I'm not discussing the details of how exactly I use L2 T&S, but I use it as a trigger for entry and often exit and sometimes it's a great edge. You can certainly use it as a scalper's entry into a swing trade and I often do.

you sound like WallStreet1928 refusing to answer questions about your strategy. you must have made a lot of money out of Trade2Win.

 

[the hare]

you sound like WallStreet1928 refusing to answer questions about your strategy. you must have made a lot of money out of Trade2Win.

Maybe, but I suspect if I asked him how many pips he'd make if he closed 3 lots at + 40 and 2 lots at +60 he'd probably answer.

I'm not endorsing Mr Charts service, but I believe he posts details of all his trades on his website (including his infrequent losers )

That at least gives you the opportunity of recording T&S and level 2, and retrospectively going back and seeing if you can what he's seeing.

Its a symbiotic relationship, T2W have probably made a few bob over the years out of Mr Charts.

Maybe he'll let you do an independant evaluation :innocent:

 

[neil]

Maybe, but I suspect if I asked him how many pips he'd make if he closed 3 lots at + 40 and 2 lots at +60 he'd probably answer.

I'm not endorsing Mr Charts service, but I believe he posts details of all his trades on his website (including his infrequent losers )

That at least gives you the opportunity of recording T&S and level 2, and retrospectively going back and seeing if you can what he's seeing.

Its a symbiotic relationship, T2W have probably made a few bob over the years out of Mr Charts.

Maybe he'll let you do an independant evaluation :innocent:

Then again he might tell you to p..p..pick up a penguin

 

[MajorDutch]

Maybe, but I suspect if I asked him how many pips he'd make if he closed 3 lots at + 40 and 2 lots at +60 he'd probably answer.

I'm not endorsing Mr Charts service, but I believe he posts details of all his trades on his website (including his infrequent losers )

That at least gives you the opportunity of recording T&S and level 2, and retrospectively going back and seeing if you can what he's seeing.

Its a symbiotic relationship, T2W have probably made a few bob over the years out of Mr Charts.

Maybe he'll let you do an independant evaluation :innocent:

I wonder if he averages in for additional affect. there are other parallels though. the throwing of the occasionally juicy titbit to the hungry noob deliberately stating there is more to it but you will have to get your wallet out.

When in a supermarket and some dolly bird chops up a bit of cheese as a free taster for shoppers she really doesn't want you to enjoy the taste she wants you to buy a whole block.