Trading the US the Naz/Mr. Charts Way

[ardhill]

None of the above trades were difficult just charts, patterns and reading level2, T&S, bid/support pressures, MMs, momentum.

Oh yeah?

Like a friend of mine in another area of business used to keep saying, "If it were that easy, sure everybody would be doing it!"

Richard, some of use just find it hard enough making some money on the markets, let alone, finding the charts, taking all the readings from your various windows, formulating them into a trading decision, deciding on your routing and entry methods, placing your trades, managing them and Oh yes, not forgetting abut taking screen shots before and afterwards as well.

Then being able to say "None of them were difficult".

Nice one (4) Mr C.

 

[Mr. Charts]

ardhill,
To me the nearest analogy is driving.
Once you know what to do and when and how, it does become much easier and almost routine.
It's about understanding the market, patterns, methods of finding moving stocks, routine, emotional self control and self discipline. Being in control of yourself and what you do. Being detached enough from everything else to trade.
Much of what I call micro-analysis is advanced "tape reading" and once you understand the underlying methods and reasons, that comes with practice, practice, practice, experience, experience,experience.
I find it easy; someone starting out doesn't; a bit like driving.
Richard

 

[SOCRATES]

Ardhill, listen to what Mr Charts is generously explaining to you above.

In driving there are pedestrians, learner drivers, new drivers, drivers, advanced drivers, expert drivers and formula one drivers, and formula one champion drivers.

And so it is in everything in life, trading not excepted.

He is giving you a very valuable lesson here. You ought to take advantage of what he is kindly saying for your benefit and the benefit of the members, and not the opposite.

 

[ardhill]

Ardhill, listen to what Mr Charts is generously explaining to you above.

Thanks Socrates

One thing I have learnt in life...

Listen to someone who knows more about a subject than you do yourself.
(Providing you want to understand more of course)


(Actually, I have learnt a few more things, but that one is fairly often part of my conscious thought)

 

[SOCRATES]

Good, well done, because Mr Charts is very kind and generous with his help and knowledge.

Kind Regards.

 

[Salty Gibbon]

Ardhill
I think Richard's methods are very sophisticated and they allow him not only to profit on a consistent basis but also to maximise his profit on a consistent basis.
His degree of sophistication was probably built up over a number of years and one cannot hope to emulate him "just like that ".
But I have found a way ( deep into my 2nd year of trading ) to make consistent profits. My methods are fairly straightforward and do not involve the degree of detail and sophistication employed by Richard.
The difference is that he is maximising his profit whereas I am simply grinding out a profit.
When he posts his trades on T2W I go back to the charts to see what my method would have yielded. Always, my profit would have been substantially less than Richard’s due to not so timely entries and exits. Sometimes my method would have decreed that I did not even take the trade that Richard took.
But the point is that I intend to improve my methods over the coming months and years and gradually become more efficient and more profitable.
But for now I am just happy that I am making a profit.
Thanks for today’s posts Richard
One step at a time.

 

[SOCRATES]

You see Ardhill, how all of this is a hard hill, if you will pardon the pun.

 

[Salty Gibbon]

But once you get to the top of that hard hill, you can go pretty fast down the other side I think.

 

[SOCRATES]

No you don't, that is if you have climbed it correctly. You are able to enjoy the view and power of eagles.

 

[SOCRATES]

I have just been nudged to add :~ that is why there are very few eagles but many sparrows.

 

[ardhill]

I was thinking...

Concidering the replies to my post 841 I thought that I may have been picked up wrongly and wanted to clarify something. It is a pity that when 'writing' you can't include voice inflections, it would be much easier if you could.

But, I wasn't in any way being negative about the trades which Mr.C took or his methods - quite the contrary, I respect his abilities. I 'said' the post with a touch of sarcasm and exasperation - at myself. Especially when I considered all that goes on within me to find a day trade (also using L2 and T&S).

This is probably due to my own 'journey' in the trading world at the moment.

The encouragement from the three of you, is very much appreciated.

Thanks

 

[Mr. Charts]

Thank you for the comments Salty and Socrates.

Ardhill,
I understood your meaning and intent precisely and saw no negativity whatsoever in your post 841.
I have been on BBs from time to time since the first one in around 1996; ESI, the forerunner of ETrade.
I can spot the decent people a mile away and the others reveal themselves pretty damn quick.
I do not respond to the latter. They are not worth the effort.
Have a good week end
Richard

 

[SOCRATES]

You see Ardhill, this is where the real work starts. You have to dare to dare inorder to progress. If you do not dare you will not progress. Progress only arrives accompanied by realisations. Before you can have these you have to be open minded, you have to accept, and not try to force. You cannot succeed at force fitting anything in trading. If you try, the market will make mincemeat out of you.I know this is very difficult to accept, it is perhaps even more difficult to explain, because there isn't any other frame of reference anywhere like it, so you just have to patient, calm, determined, impartial, focused....all of these at the same time. Keep practising until you master yourself in this regard and then gradually, and you have to give yourself time over this, bits will begin to fall into place. It is a shame, because I have to fly tomorrow, but I will continue when I return.

Kind Regards As Usual.

 

[Salty Gibbon]

I have just been nudged to add :~ that is why there are very few eagles but many sparrows.

Reminds me of the song - 'I can fly higher than an eagle...you are the wind beneath my wings" or that other song by Westlife, " Flying without wings"

Or was it " I can fly higher than a seagull ?"

Hmmm, time for bed methinks.

 

[SOCRATES]

A Gannet, Salty, a Gannet.
Goodnight Salty, and Happy Snoring.

 

[Salty Gibbon]

Goodnight Socrates.
Happy flying tomorrow.
Albatross, albatross, anyone for albatross ?....... shades of John Cleese
z z z z z z z z z z z z z z z z z

 

[SOCRATES]

Thanks Salty, Ta Ta.

 

[timsk]

Funny, I thought I was looking at the latest posts on Mr. C's & Naz's thread: it turns out to be a script from the Waltons!
:cheesy:
Tim.

 

[DaveJB]

Goodnight Tim Boy....

 

[Captain Haddock]

nice move on XMSR this morning