Best Thread How To Make Money Trading The Markets.

[evostik]

PLCM made a nice move. VPRT was one I found earlier that also made a nice move.

Doji

VPRT has a spread way too big for me but well done if you can trade it.

Steve

 

[evostik]

Hi Mr Charts

If you have time could you expand a little on something you said?

"Always be aware of what the market is doing. If futures are clearly rising, do not go short. If futures are clearly falling, do not go long. If futures are going nowhere, the overall market is not going against you. Ideally, you want the futures moving in the same direction as your trade."

Do you just mean 'generally on the day'? Or, are you looking at something more specific to a certain time frame?

Thanks in advance,
Steve

 

[Mr. Charts]

dojistar,
Thanks for your comment

evostik,
will email
sorry for the delay in responding
Richard

 

[Mr. Charts]

This isn't rocket science.
Look at GME, picked up off a scanner, nice trender, await break out,go long. When it weakened I exited.
When it broke out again, same process repeated.
Result - two nice trades with minimum risk - nice double whammy trades.

First trade +33c per share (that's $330 for someone trading 1000 shares, $660 for 2000 shares, $165 for 500 shares etc pro rata)

Images, as always, taken at the time of exit.

 

[Mr. Charts]

And the second trade when it broke out again
+50c per share this time.
Richard

 

[amit1986]

Good job, Richard!

LVLT was also a beaut today, though I managed to get only 56 cents out of it. The bigger move came on the next breakout !

 

[Mr. Charts]

You still got a cracking good profit out of that one, Amit Well done !
Still scanning
Richard

 

[Mr. Charts]

Steve, you have an email answer.

Today has been very flat, but there have still been quite a few opportunities using this method and several others. One of the great attractions of trading US shares is not only that you can trade them in the UK evening after work if you've still got a day job, but there are so many stocks that move independently of the market and/or whose movements are geared up from any overall market movement.
Richard

 

[evostik]

Steve, you have an email answer.

Today has been very flat, but there have still been quite a few opportunities using this method and several others. One of the great attractions of trading US shares is not only that you can trade them in the UK evening after work if you've still got a day job, but there are so many stocks that move independently of the market and/or whose movements are geared up from any overall market movement.
Richard

Hi Richard

I have received your email; thanks for taking the time to write to me.

Cheers
Steve

PS. Nice trade on GME. I haven't started trading this method that early in the day so much. I did trade PLD for a small loss and PCX for an overall win however.

 

[Mr. Charts]

I meant to say with those two trades posted yesterday that personally I prefer to get out when things start to turn against me or sometimes just stop going my way and, as illustrated yesterday, you can always go back in again. In the meantime I've locked in profits and not seen them eaten away or lost. Others may differ in their views, but these methods have worked for me for more than 11 years full time trading and part time before that, so I'm happy with them.
Richard

 

[bonchi07]

dojistar,
Thanks for your comment

evostik,
will email
sorry for the delay in responding
Richard

I am new to candle sticks. I am a swing and day trader. I would like to know your opinion on day trading studying system and materials using candle sticks.

Do you teach?

Thanks

 

[Mr. Charts]

bonchi07,
You can read about what I do and teach on my "home page", but if you simply want to learn about candles you can do so for free:
Introduction to Candlesticks - ChartSchool - StockCharts.com

That will give you the basics in the sense of someone looking at a toolbox and knowing what a chisel, hammer, screwdrivers are for.
HTH
Richard

 

[bonchi07]

bonchi07,
You can read about what I do and teach on my "home page", but if you simply want to learn about candles you can do so for free:
Introduction to Candlesticks - ChartSchool - StockCharts.com

That will give you the basics in the sense of someone looking at a toolbox and knowing what a chisel, hammer, screwdrivers are for.
HTH
Richard

Thanks for your prompt reply. I am reading the Steve Niesen's book now. I will check out your home page as well.
Tx for the input.

 

[Mr. Charts]

This is one from today which is very similar except that sometimes stocks move in a staircase sort of way; moving in one direction, pausing, then continuing upstairs (or sometimes downstairs).
I went long once it started moving up again (white pointer) and stayed with it on the rising candles set up on this thread until I could see the buying pressure being seriously opposed by the selling pressure so then exited at the time of this screenshot.
As always, I keep tight stops for the trades that don't work out.
Today, for example, using this and some of the other set ups I use my results were:
FAS +43c per share
CAR +20c
SWKS -4c
FAS -5c
MGA +16c
AEM +136c
FAS -4c
GM +8c

AEM was a nice easy and slow trade using three minute candles.
136c per share which is $1360 profit on a normal 1000 share size (and obviously pro rata for different share sizes).
Richard

 

[evostik]

This is one from today which is very similar except that sometimes stocks move in a staircase sort of way; moving in one direction, pausing, then continuing upstairs (or sometimes downstairs).
I went long once it started moving up again (white pointer) and stayed with it on the rising candles set up on this thread until I could see the buying pressure being seriously opposed by the selling pressure so then exited at the time of this screenshot.
As always, I keep tight stops for the trades that don't work out.
Today, for example, using this and some of the other set ups I use my results were:
FAS +43c per share
CAR +20c
SWKS -4c
FAS -5c
MGA +16c
AEM +136c
FAS -4c
GM +8c

AEM was a nice easy and slow trade using three minute candles.
136c per share which is $1360 profit on a normal 1000 share size (and obviously pro rata for different share sizes).
Richard

Hi Mr Charts

So, so nice. Particularly AEM of course.

If you have time is there any chance you could explain why you took this particular AEM 'breakout' because there were also one or two AEM candidates earlier.

I can see why you used 3 min candles but this puts the ATR about 15 cents so would you not reduce position size on this basis?

Also I notice the price is below yesterday's high; is this important or do we just need to watch out for prior high being a possible resistance?

Sorry to be a major pain but just trying to learn what I can!

Cheers
Steve

 

[dojistar]

Richard, AEM nice trade.

 

[Mr. Charts]

Thanks, doji.
Will email next week evostik - if I forget, email to remind me !

Here's yet another simple one from today. Scanned and found it three quarters of an hour before it set up and triggered; just kept an eye on it till it came together. Easy.
CLF +40c per share

Other results today using this set up and the other set ups I use:
VRTX +23c per share
GILD +50c
WOOF -4c
GILD -6c
ENB +18c
LIFE +50c
CLF +40c
ECA -6c

Richard

 

[amit1986]

Not too bad of a day today eh Richard

Have a good long weekend!

 

[Mr. Charts]

Thanks, Amit.
You've not had a bad week yourself !
Talk next week - enjoy the long weekend.
Richard

 

[ChocolateDigestive]

Thanks, doji.
Will email next week evostik - if I forget, email to remind me !

Here's yet another simple one from today. Scanned and found it three quarters of an hour before it set up and triggered; just kept an eye on it till it came together. Easy.
CLF +40c per share

Other results today using this set up and the other set ups I use:
VRTX +23c per share
GILD +50c
WOOF -4c
GILD -6c
ENB +18c
LIFE +50c
CLF +40c
ECA -6c

Richard

good effort. Are you paying 0.5c each side for commish.