Trading the US the Naz/Mr. Charts Way

[Mr. Charts]

Hiya Tim,
I'll try your adulterated Chardonnay ;-) I do like Sauvignons too.
Just demolishing a Bordeaux, Chateau Meaume, smooth and silky (Majestic).
I know, white then red - I'm just a Philistine (please no biblical stories Rognvald otherwise I will tell you a story about the lagoon on Coral Island in the Red Sea where Soloman met Sheba)

CECO - my reading of T&S and level 2 and my other "indicator" told me the whole number was going to get blown away.
Best wishes,
Richard

 

[swisher99]

Mr Charts

How do I learn to trade like that please (profitably!)?

 

[Mr. Charts]

Another trade in a pattern I showed at Bloomberg:
SINA short 33.59
covered 33.07

for profit + 52

 

[boxster332]

Mr. Charts,

How do you find your setups to trade? what software do you use?
thanks

 

[Mr. Charts]

I have my own list of core trading stocks of which many are mentioned on this thread.
I currently use esignal (only livecharts for teaching purposes) and like the Turbo Scanner. I also have trialled trader bot and might add that to my tools.
HTH

 

[Naz]

Nice trades Mr C

 

[HiProb]

Cbh

Here's a trade I did yesterday. Shorted on the break of the opening range at 56.51, covered at 55.01 and went long at 55.30 for the rebound and sold at 55.90.

 

[Thirteen]

mr charts - if u use esignal, why post quote.com charts? surely esignal is far better than quote which has very poor data quality as we all know. surely qote is just waste of money and screen estate? please tell me where i am wrong.

 

[Mr. Charts]

i use livecharts for teaching only - on separate pc with paint shop pro for easy cropping - i print out charts for people i teach and printer connected to that pc - uses far less ink - white backgrnd not blk !
if you look through all this thread you will see many screen shots of esignal
so just for my convenience
no other significance

 

[Salty Gibbon]

Cbh

Hi Prob.
What size of stop - either actual or mental - did you use on these trades ?
Salty

 

[Mr. Charts]

Thanks Naz.
What a no-brainer of a day today ;-)))
Richard

 

[HiProb]

Sorry, didnt see this until now...

I trade reactions to significant levels. The first few minutes of trading are significant, I'll trade those reactions. Can't remember exactly what size stop I use but generally do not risk more than .20 and my risk to reward before i take any trade is usually 3 to 1. I trade off 1 minute charts.

Hi Prob.
What size of stop - either actual or mental - did you use on these trades ?
Salty

 

[Mr. Charts]

MERQ looking promising either way - nice bounce v. possible

 

[TheBramble]

MERQ looking promising either way - nice bounce v. possible

Yes. Bit of drop wasn't it. Bouncing nicely at the mo.

Pity about DAE feed showing a high spike at 08:50 (in the 1 min chart) of 42.55!!!

DTN's data is, thankfully, better behaved.

Naz, you use DAE - how do you cope with these spikes?

 

[TheBramble]

MERQ - Classic Case

This is a classic case of the market responding counter-intuitively to the news.

Incredible Q2 results 35% up good, good, good, and it open down $6.48 at $36.25 (or $38.50 if you're looking at DAE).

Anyone care to speculate why that is?

 

[Mr. Charts]

No, no, no, Tony.
NOT "counter-intuitive" - predictable and natural response
NOT "incredible" - rather poor
NOT "good,good,good"- poor, poor, poor
The gap down was entirely predictable and the bounce up a no-brainer merely reading news flow and using my pattern entry for this situation.
You have not read the news properly either, sorry - don't mean to be rude.
This business of generating profits from pre market news is about trading the reaction, NOT the news itself.
I've just exited for $1.54 per share profit
Richard

 

[keano]

Hi guys. Using my friends computer again. Took 167 points off the dow today ( and grabbed some on MERQ along the way). Im scanning for some 'swing longs' as we speak. I wanna master scalping as well as swing trading. I wanna take over the world! There's some bargains out there if you look around. Richard...please find your own stocks to trade. I think you have my trading office bugged . Im currently running an experiment to see if money can be made from trading US shares, using DeaL4Free. (i usedd them ages ago but when i traded differently)
Hope all is well.
Great trading as usual Mr.C
Tony...Any word from Grey?? I miss his input to these forums (especially Technical trader) even though i cant even access the site much at the moment.

Anyways...have a good week.

Keano

 

[keano]

edit: I did post a screen shot verifying my dow trade but i left some of my account info on there so had to delete the message. I cannot be bothered to capture it again. Ive drunk to much beer. Never mind. Im sure you believe me.For the record, I shorted at 10192 and covered at 10025. That reminds me. Wher is that CJ dude. I like him. He's got a crystal ball as far as the Dow is concerned

 

[LevII]

keano,

I find scalping US stocks on D4F is virtually impossible for 3 reasons:

1. Their 5c spread (10c+ on Fispreads).
2. Their prices are manipulated / skewed and often bear little resemblance to the true market price. However, if your selection process allows you to sell into strength and buy into weakness you can sometimes benefit from the skew;
3. You can't rely on your stops (if you use them). Remember you are dealing with a bookmaker on whose computer system you are placing you stop, Do not be surprised if it is taken out!

I'll be interested to hear you experiences.

LII

 

[Trader333]

Keano and LevII,

I believe that Newtron Bomb uses D4F for trading US stocks and does so successfully although he is the only person I know who has been able to. It may be worth asking his view.


Paul