Best Thread How To Make Money Trading The Markets.

[Shakone]

This depends on the context of the situation. If there is a barrage of buyers wanting to come in to the market on a (genuine upside) momentum play, then no one will be playing games there as they will simply get rolled. But this is taking orderflow to another level, way beyond this thread. But this is the reason why trading this way can achieve very attractive results. You must know that the barrage will be coming along with you! (This is what take time to learn, sorry, there are NO shortcuts)

But once again, this is beyond the scope of this thread. This is about keeping it pure and simple, and finding out the true results from this. From then, we will begin to move forward.

So far no one can even be bothered to put up a few examples. That says a lot!

It only takes a few seconds to do a screen hunt.

Well in fairness, I think it has been said that it is 80% mechanical. So what are the mechanical rules? Obviously nobody can test it if the rules are not clear, so what you're asking can't happen until the rules are defined.

Would someone provide these mechanical rules?

 

[Shakone]

TBH I think alot the gaming sector has been under radar for some time. look at Activision on Friday they went up by five percent and also Take Two Interactive which share price i know will go up by 20 percent after GTA V is released

If it will go up by 20% cent from the price it is now, with certainty when GTA V is released, wouldn't you buy now?

 

[Mayberry RFD]

This depends on the context of the situation. If there is a barrage of buyers wanting to come in to the market on a (genuine upside) momentum play, then no one will be playing games there as they will simply get rolled. But this is taking orderflow to another level, way beyond this thread. But this is the reason why trading this way can achieve very attractive results. You must know that the barrage will be coming along with you! (This is what take time to learn, sorry, there are NO shortcuts)

Market makers have the ability to remove their quotes before any retail trader will be able to execute on them usually less than a second. So they are not concerned about being rolled.

Traders are not looking for short cuts they want fairness in the markets. Market makers have access to more information and they also have the money to benefit from more technology.

On wall street they call momentum trading price chasing. Thats why most traders lose with this type of trading. Because they are reacting to price which is always being manipulated.

 

[avtardhillon]

If it will go up by 20% cent from the price it is now, with certainty when GTA V is released, wouldn't you buy now?

yeah

 

[D70]

WallStreet,

You say "come on then, post some charts" and expect someone to take up the challenge the very next day!? I dont think you are being entirely realistic.

That person has got to put aside what they are currently doing. Get the correct data subscriptions up and running. Follow the spooz for a period of time. See which stocks are moving. Do some pre market checks on news etc. Get their frame of mind in tune. On what planet do you come from where you can just "switch on and go?". To want a chart on T+1 is a bit loopy. Then you post something sarky about "ow well, I guess everyone is too lazy, shame......."

I have an excel file of maybe 100 screens shots proving to myself that this method results in you chasing your tail. I found, when trialing this strategy that I was forever buying false breaks, flicking from one scan to another, trying to find the "ideal setup" of strong momentum and so forth but couldnt make it stick. I could also never achieve the minimal losses that MrCharts gets. -4 to -7c losses is very hard after slippage and then you've got to add on your comms. Perhaps I didnt give it long enough. Perhaps I havent understood the content well enough. All I do know is that I still see NO OTHER TRADER trading this way. I have no gripe against MrCharts. I'm just trying to unearth the other individuals that trade THIS WAY.

So far, the defenders of MrCharts argue his case, which is fine. But no one can replicate it. Not even you.

You must agree I have a point....?

My conclusion was that I didnt have the talent / skill / possibly patience to trade this way and have so far only found others that concur.

 

[Mayberry RFD]

I mentioned FB (Facebook) earlier, two and a half hours before open.
Reasons self-evident.
I traded it three times as anyone who has read this thread properly and objectively could have done

Results:
First: profit +70c per share
Second: loss -7c per share
Third: profit +42c per share

Pointers at time of entry, image taken at time of exit.

Nothing in choosing this stock to watch or the trades done is rocket science, though the first one requires experience, the second and third were not difficult or challenging.
Those trades also exemplify the principle of cutting losing trades quickly and letting winning ones run - again basic stuff.

Another recent example of stocks mentioned on this thread BEFORE taking trades can be seen in posts 1811 and 1816

Any objective person can simply try the method for themselves paper trading 100 times and see what their results are and if the style suits them. Then if they wish they can try trading it live. I always suggest small position sizes to begin with whilst experience builds.

I've said that before and also this:
I don't say I will enter at a particular price - it depends on price behaviour at that key price level.
If anyone doesn't understand that concept, then they might start thinking about it as it's a very essential help in trading, imho. There have been threads about price action by others in the past including some very capable traders, but those members are no longer here having been driven away by the attacks of certain individuals. Shame for the objective members. But, hey, people will think whatever they choose and have their own opinions.
The key thing for people who are neutral and objective is to ignore all the noise and simply try and test for themselves.

Good trading to everyone,
Richard

Mr. Charts this Facebook trade looks like a breakout from consolidation? How is that a continous trend? The ATR was over 20 not under 8 as you suggest? I wonder if most traders could have traded that successfully?

Maybe you could clarify this for us?

 

[thirstytrader]

Mr. Charts, Ive been reading through this thread and found it helpful, I think the naysayers are making more out of this strategy than need be. I'm not an expert trader just someone who is trying to learn and get better, I have paper traded and live traded a similar method and found it quite successful while paper trading, on the other hand live trading was not so successful, I know my emotions have everything to do with my lack of performance than the strategy itself, I am working on it thanks!

 

[zing189]

WallStreet,

You say "come on then, post some charts" and expect someone to take up the challenge the very next day!? I dont think you are being entirely realistic.

That person has got to put aside what they are currently doing. Get the correct data subscriptions up and running. Follow the spooz for a period of time. See which stocks are moving. Do some pre market checks on news etc. Get their frame of mind in tune. On what planet do you come from where you can just "switch on and go?". To want a chart on T+1 is a bit loopy. Then you post something sarky about "ow well, I guess everyone is too lazy, shame......."

I have an excel file of maybe 100 screens shots proving to myself that this method results in you chasing your tail. I found, when trialing this strategy that I was forever buying false breaks, flicking from one scan to another, trying to find the "ideal setup" of strong momentum and so forth but couldnt make it stick. I could also never achieve the minimal losses that MrCharts gets. -4 to -7c losses is very hard after slippage and then you've got to add on your comms. Perhaps I didnt give it long enough. Perhaps I havent understood the content well enough. All I do know is that I still see NO OTHER TRADER trading this way. I have no gripe against MrCharts. I'm just trying to unearth the other individuals that trade THIS WAY.

So far, the defenders of MrCharts argue his case, which is fine. But no one can replicate it. Not even you.

You must agree I have a point....?

My conclusion was that I didnt have the talent / skill / possibly patience to trade this way and have so far only found others that concur.

Hi D70,
Some questions if you don't mind. Did you use Time and Sales to help with your entry and points? Have you taken time of day into consideration - see post 1418 by Duncanhoo - "Don't bother with this setup between 11:30-1PM EST."?
Zing

 

[wallstreetwarrior87]

WallStreet,

You say "come on then, post some charts" and expect someone to take up the challenge the very next day!? I dont think you are being entirely realistic.

That person has got to put aside what they are currently doing. Get the correct data subscriptions up and running. Follow the spooz for a period of time. See which stocks are moving. Do some pre market checks on news etc. Get their frame of mind in tune. On what planet do you come from where you can just "switch on and go?". To want a chart on T+1 is a bit loopy. Then you post something sarky about "ow well, I guess everyone is too lazy, shame......."

I have an excel file of maybe 100 screens shots proving to myself that this method results in you chasing your tail. I found, when trialing this strategy that I was forever buying false breaks, flicking from one scan to another, trying to find the "ideal setup" of strong momentum and so forth but couldnt make it stick. I could also never achieve the minimal losses that MrCharts gets. -4 to -7c losses is very hard after slippage and then you've got to add on your comms. Perhaps I didnt give it long enough. Perhaps I havent understood the content well enough. All I do know is that I still see NO OTHER TRADER trading this way. I have no gripe against MrCharts. I'm just trying to unearth the other individuals that trade THIS WAY.

So far, the defenders of MrCharts argue his case, which is fine. But no one can replicate it. Not even you.

You must agree I have a point....?

My conclusion was that I didnt have the talent / skill / possibly patience to trade this way and have so far only found others that concur.

Hi D70, yes you do have a point regarding trades being from now (present time), but the context of the posts so far is that all these people have tried this already, and have come to the conclusion it will not work. So I simply asked if anyone could find just 10 examples (of past trades) to start with. The 100 trades are for the future, which will, as you correctly stated take time to set up.

I have said many times (and you can check by finding previous posts) that I do not trade like this, but this phase of the (ordeflow) is indeed part of my trade (ie in the final stages of the move). So I can hint as to the effectiveness of this.

In regards to switch on and go: No one suggested this, but if someone doesnt have an hour pre-market to prepare for this business, then it is not for them. This is the difference between those whom treat this seriously and those whom treat it as a hobby. Ultimately the results we achieve will be a reflection of persuing the correct path, but always learning something new everyday.

Each to their own.

 

[mik1973]

Mr Charts responses to (politely asked) questions seem very much like the charts he posts- very selective...

 

[wallstreetwarrior87]

Market makers have the ability to remove their quotes before any retail trader will be able to execute on them usually less than a second. So they are not concerned about being rolled.

Traders are not looking for short cuts they want fairness in the markets. Market makers have access to more information and they also have the money to benefit from more technology.

On wall street they call momentum trading price chasing. Thats why most traders lose with this type of trading. Because they are reacting to price which is always being manipulated.

Are you sure about this, or is it the case that they know the games well enough to not be playing in these conditions?

Manipulation is the name of the game; bluff, spook, sweep, pull, blah blah blah. You need to get into the the flow and try to understand where all these (individuals) will play their games. But most believe this to be impossible, hence the search for something more simple, then we get the "us against them" attitude.

The only thing you can do is control your participation, you decide to pull the trigger, and you must be able to face the consequences of the result.

Best not get carried away as the forum will begin to seem like its related to actual trading rather than all the other antics that have been going on

We can all have our own opinion, thats what makes a market.

Good trading!

 

[mik1973]

Oh i almost forgot to congratulate thirstytrader on receiving a recommended post by Mr Charts (only joined this month and first post too!)

Well done!!...

 

[Mr. Charts]

QUOTE In regards to switch on and go: No one suggested this, but if someone doesnt have an hour pre-market to prepare for this business, then it is not for them. This is the difference between those whom treat this seriously and those whom treat it as a hobby. Ultimately the results we achieve will be a reflection of persuing the correct path, but always learning something new everyday.

Each to their own END QUOTE

Agreed. If you are trading from the get-go then an hour's preparation reading news stories, looking at the pre-market behaviour of some stocks and getting a general feel for mood is well worthwhile.
However, there are people in the UK and elsewhere who get home from their day job in the evening, switch on their computers, load their trading software, glance at the S&P, run a couple of scans and are ready to trade; a process taking all of five minutes !
Richard

 

[Mr. Charts]

My error, I did not see that, I was reading the beginning of the thread. My mistake, small loss taken lol.

Well unless the SBs are offering 1 or 2 pt spreads, then this would be near on impossible. So really I dont think Richard should have mentioned SB's unless he knows any that offer tiny spreads?

There are ways of managing positions in SBs with five cent spreads

 

[brettonjames]

MR charts , where do you scan (websites etc ?) for market moving and important news premarket on the US stocks ?, anywhere in particular ? any website news source etc you can recomend ?

 

[Mr. Charts]

MR charts , where do you scan (websites etc ?) for market moving and important news premarket on the US stocks ?, anywhere in particular ? any website news source etc you can recomend ?

Hi brettonjames,
I like briefing.com and subscribe to them. There are free sites but obviously not as good quality as what you pay for.
I also use IB to scan for pre-market gappers and often you find the ones you pick out for news reasons may also have gapped.
Hope that helps,
Richard

 

[thirstytrader]

Oh i almost forgot to congratulate thirstytrader on receiving a recommended post by Mr Charts (only joined this month and first post too!)

Well done!!...

I'll take that as a tongue in cheek, I joined because I found this thread and site via google search just yesterday, I'm looking to take trading more seriously and any tips or help I can get is appreciated. I will be using this strategy or something similar to live trade using small lots of 100 shares, I also use IB so commissions wont be an issue.

I got into the trading game 4 years ago but it was PT and off an on, I paper traded more than I live traded and so that was one issue, I also used lots wayyyyy to big for a noob ( sometimes 1500 shares on stock over $40). Made mistakes that I knew were mistakes before I even got involved but I figured that I can out smart the market I learned.

Mr Charts, you mentioned that you have a website, is that only by invitation? or its no longer up? thanks

 

[Mr. Charts]

I'll take that as a tongue in cheek, I joined because I found this thread and site via google search just yesterday, I'm looking to take trading more seriously and any tips or help I can get is appreciated. I will be using this strategy or something similar to live trade using small lots of 100 shares, I also use IB so commissions wont be an issue.

I got into the trading game 4 years ago but it was PT and off an on, I paper traded more than I live traded and so that was one issue, I also used lots wayyyyy to big for a noob ( sometimes 1500 shares on stock over $40). Made mistakes that I knew were mistakes before I even got involved but I figured that I can out smart the market I learned.

When I read your first post I thought "this guy/girl can succeed" all in my humble opinion, of course. Having read your second post I reckon the probability is even greater.
I would suggest paper trading first, I know it's not the same as there's no emotion etc., but don't risk money until you are not only sure of the process but have consistent paper trading success. It's no guarantee, of course, but as long as you don't get in a paper trading rut it has its uses.
Good trading to you,
Richard

 

[evostik]

Anyone take SBUX on break of it's 5th 1min bar?

 

[evostik]

ATR 9c at entry - above yesterday high - plenty room to round number resistance - volume great - etc. simples....