Best Thread How To Make Money Trading The Markets.

[stasbz]

One of the ways in which I keep my losers small is to exit when momentum turns against me and/or the price, on the balance of probabilities,doesn't move the way it should. Then I recognize the chances of success have shifted against me and I'm comfortable taking a small loss. In a sense, it's the cost of doing business and that's the way it should be viewed, not a failure as such, merely one of the small percentage of trades which simply do not pan out for random, unpredictable or unknowable reasons. It just comes with the territory.
Here's an example from today when I took a breakout and it didn't follow through but started moving in the wrong direction. I entered one cent from the high and exited at the time of the screenshot just a minute later for a net loss including commission of six cents.
In my experience, keeping the losers small is a vital part of long term and consistent success.
Richard

How many shares is it possible to trade and not influence stocks you trade? (as i understand mostly you trade stocks with average volume usually not more than 5m shares a day).

 

[construction]

Has Mrcharts left this forum?

 

[timsk]

Hi construction,
Welcome to T2W.

No, I don't think so. Richard monitors this thread - but only posts infrequesntly these days.
Tim.

 

[zing189]

Thanks Mr Charts.
It took a while, but I read through this entire thread and appreciate the great info you've shared. I wish I had seen this when it was started over four years ago. I'm certain my trading would be much better than it is now. Kudos to you for staying involved since your first post on Sep 2, 2008!

 

[construction]

Mrcharts, thank you from me as well. Very helpfull thread. I've tried this
Method and so far it works very well. I will make contact with you
If you don' mind because I' d like to learn more.

 

[Mr. Charts]

Thank you both for your kind words.


The particular method in this thread can also be used pre-market, though I wouldn't suggest anyone tried pre-market until they were very experienced.
Here's an example from today.
NFLX +104c per share

 

[Mr. Charts]

The pointer is at the time of entry and the image taken at exit.

 

[Mr. Charts]

This is what happened in the following few minutes after exit, just before market open. My exit was obviously at a good level.
Richard

 

[Mr. Charts]

FAS and FAZ frequently offer very good opportunities. One is more or less the inverse of the other so you can trade the much slower FAZ or the faster FAS.

Here's a FAS trade from today using the particular method in this thread.
I think most people will recognize the trend with higher lows, higher highs.

This is not rocket science, it's just waiting patiently for the right set up.

The pointer is at entry and the image taken at the exit.

+70c per share

 

[Mr. Charts]

Here's what happened shortly after my exit.
Richard

 

[evostik]

FAS and FAZ frequently offer very good opportunities. One is more or less the inverse of the other so you can trade the much slower FAZ or the faster FAS.

Here's a FAS trade from today using the particular method in this thread.
I think most people will recognize the trend with higher lows, higher highs.

This is not rocket science, it's just waiting patiently for the right set up.

The pointer is at entry and the image taken at the exit.

+70c per share

Nice trade Mr Charts. No way would I be critical of this methodology because It makes me money. However, it would be great if you could find time to expand a little on the above trade's chart specifically so as to avoid thoughts that you are being a little selective. For example, on the same chart, the high previous to the trade entry would/could also have triggered.

Many Thanks
Steve

 

[Mr. Charts]

Hiya Steve,
I'm pleased this method makes you money.
When I finish trading later I'll email you a screenshot from my private web site where I explained at the time yesterday why I didn't take the high of five candles previously. It's about price behaviour, not simply price reaching a certain level. You can trade purely like that AND still make money, but I have price behaviour triggers which greatly increase the probability of a trade being successful and also often keeps me out of some trades. Nothing is infallible, but it's a very powerful edge. As I have said previously on this thread that trigger method is NOT necessary to make money as you have found for yourself and I'm not discussing it openly here.
Good wishes,
Richard

 

[evostik]

Hiya Steve,
I'm pleased this method makes you money.
When I finish trading later I'll email you a screenshot from my private web site where I explained at the time yesterday why I didn't take the high of five candles previously. It's about price behaviour, not simply price reaching a certain level. You can trade purely like that AND still make money, but I have price behaviour triggers which greatly increase the probability of a trade being successful and also often keeps me out of some trades. Nothing is infallible, but it's a very powerful edge. As I have said previously on this thread that trigger method is NOT necessary to make money as you have found for yourself and I'm not discussing it openly here.
Good wishes,
Richard

Thanks, Richard

Appreciate the response and I look forward to receiving the screenshot.

Cheers
Steve

 

[Mr. Charts]

I picked up DF from a simple scan 11 mins after market open and traded it first using a different set up/trigger to the method in this thread and exited when it turned against me and lost 6c per share.
Shortly afterwards it set up this falling candles set up and I shorted it for a profit of 61c per share.
As usual pointer at entry, image grabbed at exit.
Keep the losers small, let the winners run is the basic trading rule to my mind. I know some people have profit targets and exit at them and that's ok, imho, in some situations, but personally I prefer to stay with the move till it seems to exhaust itself.
Richard

 

[mik1973]

Screen shots mean absolutely nothing.

 

[evostik]

Screen shots mean absolutely nothing.

Hi mik1973 - out of interest, what do you mean by your post here?

Cheers
Steve

 

[mik1973]

Steve

I (as well as many others on this board) have issues with some contributors making claims via screen shots.

As stated above these mean absolutely nothing. Unless someone is prepared to make LIVE calls to justify their trading prowess then any Tom, Dick or Harry could post nice looking charts where they claim to have entered then exited a trade.

No doubt i will be crticised (once again) for my views by a few who follow Richard's every word but i really don't care.

Mick

 

[evostik]

Mick - fair enough. That said, there's a lot of good stuff in this thread I reckon.

Cheers
Steve

Steve

I (as well as many others on this board) have issues with some contributors making claims via screen shots.

As stated above these mean absolutely nothing. Unless someone is prepared to make LIVE calls to justify their trading prowess then any Tom, Dick or Harry could post nice looking charts where they claim to have entered then exited a trade.

No doubt i will be crticised (once again) for my views by a few who follow Richard's every word but i really don't care.

Mick

 

[D70]

The only person that trades this way is MrCharts. No one else can do it.
That's why this thread is dead as a dodo.

 

[BeginnerJoe]

Mick - fair enough. That said, there's a lot of good stuff in this thread I reckon.

Cheers
Steve

I am looking for the good stuff. Can you point some out to me ?

The OP's last post was putting up a chart at exit. That's not such a good stuff for me. If a chart is put up on entry or close to entry, that would be very good stuff.