Mr. Charts and Other Vendors

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mik1973

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Still can't believe people are falling for this . Yet again all pretty charts claiming to be actual trades and yet again no evidence. Sad sad sad.

Edit
This post was made in response to this post on the thread entitled 'How To Make Money Trading The Markets. by Mr. Charts. It - and subsequent posts - have been moved here for reasons explained by timsk in post # 10 below.
 
Last edited by a moderator:
Hi Mik1973

Sorry, but what do you mean?

Cheers
Steve

Actually Mik1973, please forget I posted a reply to you; I really don't want to get drawn in to a pointless debate or anything. Thanks for your understanding.
 
mik1973 said:
Still can't believe people are falling for this . Yet again all pretty charts claiming to be actual trades and yet again no evidence. Sad sad sad.
Click to expand...
mik1973,
What's sad is that you only ever bother to post to knock Mr. Charts. Have you nothing better to do with your time than monitor this thread and wade in every time Mr. Charts' posts? At least he's trying to make a contribution to the forum and aid members' understanding of the markets - which is a whole lot more than you're doing.

Anyone smart enough to take on board the ideas expressed in this thread and set themselves up with a DMA broker account to day trade U.S. equities - is plenty smart enough to evaluate the numerous criticisms that you and others have made repeatedly about Mr. Charts and his methodology. You've made your point, now do everyone a favour and put a sock in it.

This is a discussion forum to discuss trading. If you have a positive contribution to make in that regard - great. Otherwise, kindly do us all a favour and take your petty moaning elsewhere.
Tim.
 
Wrong,wrong and wrong again. I'm making these posts to prevent others from potentially thinking that trading is easy and all it takes is a simple method to make a living. Mr charts has never posted a live trade and from his website it indicates that he has never had a net losing day. If this is the case then the guy would be worth millions if not billions ( with correct money management). What's there to stop anyone posting on this site making similar claims-just makes the whole forum a complete and utter sham. If I came on here and claimed I made 100 pips a day the first thing most people would say would be prove it! Wake up and smell the coffee FFS.
 
mik1973 said:
Still can't believe people are falling for this . Yet again all pretty charts claiming to be actual trades and yet again no evidence. Sad sad sad.
Click to expand...

To be fair to all mik1973, it really isn't important if these trades were made or not. The basis for making the trades has been provided, which is far more useful than any empirical trade-fest for live calls.

Is it possible these trades weren't actually made? Yes, or course.

Is it likely these trades weren't actually made. Unlikely, I think.

But if you really are hung up on empirical proof, can you point me to where you make your live calls? I'm just kidding, it doesn't really matter and I don't care. But for new traders such as myself, operating on totally different asset class, I find these posts useful. How bad is that?
 
Just like to clarify my possibly ambiguous use of a double negative in the above post.

"Is it likely these trades weren't actually made. Unlikely, I think."

Meaning it was unlikely they were not made - i.e. they were more likely to have been taken than not. Besides the point, but didn't want to convey the wrong impression. You can understand why I have trouble with my trading when I can't even get basic grammar sorted. Init.
 
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Purple Brain said:
Just like to clarify my possibly ambiguous use of a double negative in the above post.

"Is it likely these trades weren't actually made. Unlikely, I think."

Meaning it was unlikely they were not made - i.e. they were more likely to have been taken than not. Besides the point, but didn't want to convey the wrong impression. You can understand why I have trouble with my trading when I can't even get basic grammar sorted. Init.
Click to expand...

You mean like his BBRY/RIMM trade ?!

http://www.trade2win.com/boards/stocks/123944-how-make-money-trading-markets-247.html#post2067162
 
tar said:
You mean like his BBRY/RIMM trade ?!

http://www.trade2win.com/boards/stocks/123944-how-make-money-trading-markets-247.html#post2067162
Click to expand...
If you take away the stock code reference, even take away the Y-axis - is there a technique/method being demonstrated that could be considered interesting and useful?

There seems to be a clear distinction between those who look for points scored and verified (i.e. live calls) and those looking for an education. There seem to be threads catering for both classes so I really don't understand the apparent indignation with Mr. Charts' thread.

Lord Flasheart's live trading thread is the place you need to go for the sort of gung ho prove you've got the minerals mate type of stuff. It's a great thread and I hugely enjoy reading it. He runs a tight ship and the calls have to be on point and on time.

However, I wanted more of rationale based approach to calling trades and am more interested in the reasons why traders make entries and exits the way they do and care very little for the veracity of the calls themselves, which is why I started a thread for that purpose. I'd be quite unhappy if you or anyone else started jumping on those of us that post in that thread because we weren't meeting your requirements for proof and confirmation of trades actually taken.
 
mik1973,
mik1973 said:
Wrong,wrong and wrong again. I'm making these posts to prevent others from potentially thinking that trading is easy and all it takes is a simple method to make a living..
Click to expand...
I have known Mr. Charts for over 10 years, met him on a number of occasions, been a member of his private forum, exchanged many hundreds of e-mails with him and read all of his output here and elsewhere. In all that time, I don't ever recall him saying that "trading is easy". Yes, he's fond of saying some trades he takes are 'no-brainers' and that it's 'not rocket science', but that's a very different matter from saying it's easy.

mik1973 said:
Mr charts has never posted a live trade and from his website it indicates that he has never had a net losing day. If this is the case then the guy would be worth millions if not billions ( with correct money management)..
Click to expand...
As has been explained dozens of times, live trades are completely meaningless to anyone and everyone other than the person who takes them. Regardless of whether Mr. Charts is the richest man on the planet or living rough on the streets - has zero bearing on my ability, your ability or anyone else's ability to trade the methodology he outlines.

mik1973 said:
What's there to stop anyone posting on this site making similar claims-just makes the whole forum a complete and utter sham..
Click to expand...
The only 'claims' that I'm aware he's ever made is that the methodology works for him. Let's assume he's lying through his teeth about that and it doesn't work at all. So what? It still doesn't change the fact that a methodology is presented for others to try and, as Mr. Charts is always at pains to point out, they should do 100 paper trades to prove to themselves the efficacy of the methodology. If someone ignores this very sound advice and 'trusts' that it will work from the get go with no experience, then yes, they are likely to lose money. More fool them.

mik1973 said:
If I came on here and claimed I made 100 pips a day the first thing most people would say would be prove it! Wake up and smell the coffee FFS.
Click to expand...
This whole issue of Mr. Charts and other vendors has been discussed numerous times - much to the detriment of the site. We woke up and 'smelt the coffee' as you put it when Steve was appointed as CEO and he drafted our completely new Community Constitution - with a section devoted specifically to this whole issue entitled 'Vendor Policy'. It's now very simple. There are good vendors who we welcome and should be allowed to post without their threads being derailed by trolls and flamers. Then there are bad vendors who are not welcome here at all. Read the link and, by the definition contained therein, if you suspect Mr. Charts - or any other vendor - has strayed over to the bad side - use the red flag 'Report Post' facility to bring it to the attention of the Moderators. They will deal with it from there. It is not for you to act as judge, jury and executioner - those days are gone.
Tim.
 
pboyles said:
Let's not kid ourselves, Mr Charts contributes solely to drum up business for his vendoring activities.
Click to expand...

...and does that mean M&S knickers are bound to shred in the wash because they choose to advertise them?
 
mik1973 said:
Wrong,wrong and wrong again. I'm making these posts to prevent others from potentially thinking that trading is easy and all it takes is a simple method to make a living. Mr charts has never posted a live trade and from his website it indicates that he has never had a net losing day. If this is the case then the guy would be worth millions if not billions ( with correct money management). What's there to stop anyone posting on this site making similar claims-just makes the whole forum a complete and utter sham. If I came on here and claimed I made 100 pips a day the first thing most people would say would be prove it! Wake up and smell the coffee FFS.
Click to expand...

Sigh...

Mr C has a forum for his members where he posts the stocks he's looking at and then the results afterwards. He's a very short term trader, so real time posts would be difficult.

Anyway - on an average day he might pull 90c out of the market. Some days more some days less.

I'd be interested how you think pulling this amount out of stocks in short term trades could be turned into billions. You know - seeing as you know everything and want to take care of everyone.
 
Tim has already said what I would have done. I am sick to the back teeth of these pointless rants about people like Mr C. As Tim rightly said, time and again it was demanded of me that I nail my colours to the mast vendor wise so I did. I stand by what I said about 'good guy' vendors and we really could do with more of them.

I am 100% behind the exposure of scammers and I think you do some excellent work in this area and as long as what you say does not lead us in to court i'll continue to support it.

PBoyles makes the point that Mr C only posts so people buy his product, I say so what. If the content provided is of good value and within our guidelines and somebody decides to find out more then I don't care. I very much doubt that any vendor in the Mr C arena will depend on sites like this to get all their business.

And before anyone starts the same old crap about T2W being in bed with the vendors then don't even bother, i'll not put up with it. This is not about Mr C, I barely know him and we don't always agree. It is about our stated policies being adopted rigorously and fairly.

Last but not least, I am always prepared to listen more fully to the critic who actually cares about this forum and makes regular valid contributions of their own.
 
http://www.trade2win.com/boards/stocks/123944-how-make-money-trading-markets-260.html#post2119270

S&P500 - 500 stocks.
Stock scanner - scan 500 stocks for trends.
Likelihood of finding at least 1 trending stock - quite high I'd say.
Base entry on tape momentum.

Thats the gist, I don't see anything absurd or damaging about that,
quite the opposite.
Its arguable that all anyone needs to do is get used to using a scanner
and reading the tape.
I still stand by everything I said in the post linked above.

The main issue I have with vendors is when they sell completely
misleading or damaging information, or push methods as the best way,
when its largely an issue of personal suitability.
Thats never been the case with mrC.
 
Mr Charts gives us ideas about one way of trading - general "big-picture" approach: short term trends; use a scanner; look for setups. Excellent stuff. He doesn't tell you the nitty gritty of exactly how to do it - why should he? If you can't/don't want to work it out for yourself then pay him the fee and get his tuition - what's the problem with that?

Mr C's interview with (whoever - can't remember the details) and published on T2W is worth its weight in gold in my opinion. Trading is not for those unwilling to put in the effort and/or think for themselves. There is no magic button system. Listen to what Mr C says - if you don't like it - ignore it.
 
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