Trading the US the Naz/Mr. Charts Way

[Finlayson]

I wasn't going to post on these boards so often, a Promise to myself, but coming from the poor side of the tracks myself I feel rather strongly about this as I know how difficult learning this business can be with limited funds.so I feel I have to say this.

I, maybe like some other members, have probably noticed some good members with a genuine willingness to share/ learn & good experience to share not posting on these boards so often, members & moderators should ask themselves why.

I have no problem with people willing to teach their skills or members posting trades, but on this occasion somebody I think should raise these question's , as obviously some others r doing in their own way. Firstly why would somebody post a trade without saying 'why' they have taken it if they r so willing to help others.......to gloat or to advertise!......nothing wrong with either of these as long as the latter is payed for by the advertiser........this is just business.

If somebody wishes to post their trades on this board to genuinely help others they would explain exactly why they did what they did, otherwise they should have their own medium for helping their 'payed up members'......these post's can only be viewed as advertising & should either be funded & explained as this or the advertisers should create their own.

I am not saying this to intimidate the teachers on this board but they should have their own 'members only' area/website for further assistance & trade discussion. I do not know the teachers & am not debating their credibility, just this specific matter . I believe if other members think on this one they will see it like I do as "just not right".

no doubt I will probably have to face some attack form this, I believe this to be one of the reasons why some of the membership has dwindled. but freedom of speech/speaking out for what u believe & all that.........felt I had to say it.

what is the whole reason for this website & what does it stand for ??

Jay

 

[Grey1]

NAZ

Quote " I would have thought that t2w members would have been grateful to have been alerted to such an oppertunity "


Alerted? Lol

Stock fell 27% day before .. How could any 1 have missed CECO's fall.. It was all over CNBC at the time too..

 

[Naz]

Grey.I'm sorry if i didn't make this clear.

It should have been on every Nasdaq traders watch list however they found it because of what happened the day before.All this thread did was alert some people who for whatever reasons might not otherwise have seen it elsewhere.

Finlayson.

In answer to part of your post.Maybe some good members aren't posting because they dont wish to have every part of their post pulled apart?

 

[ChartMan]

I am reliably informed that Quote.com went down at sometime yesterday, explaining a delay in post. As for the reasons, does there have to be one? does it matter? We all know those that have teaching agendas. I for one view any posting of charts with a pinch of salt. I don't ask myself why has this person posted. I look at a chart to learn why a person took a trade any why they took an exit. This scrutiny I apply to any of the chart posters- Nas, Mr. C, NB, Grey1,Bonsai,StopLoss, China White, et.al.
You will never ever find a more valuable resource as a real time chart and trade that someone has taken, for you to learn about trading. Reading /looking at historic intraday charts from books will only provide you with a base line of experience. These are mostly drawn from a huge pool of trading and serve to illustrate ideal situations. I have a huge library of such charts on the DOW going back 3 years or so. Great for tutoring, but the further back in time you look, the less relevant they are to trading today and next week. There are features that were interesting a year ago that do not appear now and as such are irrelevant to trading today, however they provide a complete picture and a firm basis for teaching the overall TA picture.
The charts and analysis that I do every night are relevant to the market sentiment today and as such are highly relevant. I suggest you all take what is presented , learn from it, and be grateful that there are those that are willing to share their experiences. I don't hear anyone saying I have a different agenda, I don't hear anyone saying I'm a tutor and I don't hear anyone saying show me proof of my trades. God help me if I ever decide to run "paid for" seminars.

 

[Naz]

I for one view any posting of charts with a pinch of salt. I don't ask myself why has this person posted. I look at a chart to learn why a person took a trade any why they took an exit. This scrutiny I apply to any of the chart posters- Nas, Mr. C, NB, Grey1,Bonsai,StopLoss, China White, et.al.

Good point

 

[Finlayson]

Naz exactly my point...when anybody question's anything they are attacked....why??

chartman , good & fair points, but that fact is these post's have absolutely no description or info on them.......merely an apparent result....no good to anyone. your charts , though I do not look at them, I believe different as they are displayed for information purposes.

this is a different point, I felt I put my point across ok......some I Know understood it as I have had PM from members. this should not be about defending friends etc it should be about truth. I cannot believe some cannot see this, I know many can as I have spoken to them.

understand me!...I have nothing against the tutors on this thread. I do not know them, just the fact is this is free advertising & should be presented as 'what it is'.otherwise why is there absolutely no description as to why the trade was taken.

I do not want to get into a debate about the tutors, others can if they like.......I have this one point I think I have made it fairly.

Jay

 

[Bigbusiness]

I was under the impression that Naz and Mr. Charts made a financial contribution from the proceeds of their course to TTW. If so, this is not quite the same as free advertising.

Perhaps the rule could be made clearer. If there was an approved advertising logo or a mention of permission and approval in the signature, perhaps these questions wouldn't be asked all the time.

 

[Finlayson]

BigBusiness,

maybe u r right, maybe they do 'pay per post' & contribute a certain amount from each 1-2-1 to T2W ?

if they do please accept my apologies & I will accept that I have jumped the gun if this is the case

Jay

 

[ChartMan]

Finlay, I take your point. I don't think it is totally free advertising. As far as I'm aware, Mr.C pays a fee to T2W for advertising his courses, as does Nas. I do not know of the commercial relationships that advertisers have with T2W as it is none of my business. I have mentioned before, elsewhere, that the secret of success is in finding stocks to trade. The execution and management of that trade is only a small part of the overall picture. No point in trying to trade a dog that is on a lead.
I'll make a suggestion here...... Why don't members discuss a particular chart posting to see what they make of it off their own back? Analysis is the path to enlightenment.

 

[Felix]

Chartman

I don’t understand the point you are making with regard to Quote.com being down. The point I was making didn’t involve any posts that had charts in them. All I said was why not in a single post just say

Shorted CECO at $41.90
Covered half at $38.91 for a profit of 299c per share

Instead of waiting 6 minutes to post the second line which had already happened over 30 minutes previously? Whatever you say this first looks like the posting of a real time entry and then later a real time exit which would not have been the case if it had been put in a single post. So why was it done? At best it is misleading.

Naz

Are you saying that it is not right to question something that is not clear or that can give others the wrong impression of reality because that is all I have done?

Finlayson makes a valid point in that there is no information sharing and little value added to other traders by the posting of trades. I know that you have made many positive contributions on your Nasdaq Level II threads which can be used by many traders. But the argument made by some that no information can be given to anyone on trades taken on the grounds that it is unfair to previous clients is total nonsense.



Felix

 

[Finlayson]

Chartman..........Fair play & prob a good idea

but if this is to be the case I think the initial poster should discuss his analysis first & reasoning for why, how & when the trade took place & then others can contribute & give their questions or analysis.

Jay

 

[ChartMan]

I have no idea why it was done, FELIX.

 

[blash]

Good idea Chartman.

This is my interpretation of NB's trade on AMGN.

High of the day had just been broken and trend is UP.

I may have been a little concerned by the high at the end of the previous day especially when the next bar was a down bar.

Momentum looks to have taken the price higher.

Exit due to break of previous down bar.

Any other views appreciated?

Cheers

 

[oatman]

As Chartman says, the secret is to find which ones to trade, and when I see them mentioned on here, I bung 'em into IB/Sierra :cheesy:
My trading background is not stocks and without Naz's and Mr Charts' posts I probably wouldn't be looking at them. I've seen a few things over the years but Naz and Mr. Charts seem genuine enough to me and their methods look regularly profitable.
I see Finlays point about not revealing reasons etc. but I reckon I can figure some of it out.

 

[Finlayson]

Oatman,

yes I am sure many people could figure out their reasons on what they would have done, I have looked at some of them & seen where I would have entered & can see the logic I use in the charts.....sometimes not. but then I do not trade US stocks.

my point is a bar chart is just that & they r not impressive, without an explanation of what was going on in the traders mind with regard to market sentiment, balance, exhaustion etc. they mean squat, though they look good to a newbie who has never watched one unfold before & traded........so without this surely they can only perform one function.

Jay

 

[Mr. Charts]

There is nothing complicated about my posts either.
I shorted CECO on an uptick after it broke its base and remained glued to my screens as it moved with great volatility. It required my total concentration – there was simply no time to stop and post on a BB When it based again and the range stabilised I had time to mention the trade on this board. I thought it would be of interest because of all the previous comments about CECO.
After a few minutes more I began to see from reading the tape that, for the moment at least, the selling pressure had abated. I then covered half the position a minute or so before the 3.55 post.
As soon as the trade began to move against me, I exited the rest again a minute or so before the 4.01 post. Check out the one min bars.
If anyone looks at my 4.32 posting on the CECO bounce and checks out the one min bars they can see when the trade was taken – seconds before the post – they can also read that the bounce was clear.
Anybody who chooses can check out a one min bar chart.
At 4.25 I pointed out APOL and COCO as being good ways of trading the CECO move. Anyone taking notice could have made $1.40 on APOL and $3 on COCO by only one hour later..........
Useful and worthwhile imput, imho. Positive and constructive I’d have thought.
In fact if people want to read this thread from the start, there are clear patterns to read and make use of.
Anyone looking through my trades can see sound reasons for most of them simply looking at a chart.
A few aren’t clear on charts and on those, reading the tape and sometimes level 2 were the critical factors.
If I was the sort of person who wanted to mislead I would have claimed to have taken all of the CECO move – all $12.50 of it, not just a quarter of it!
Some comments are perfectly fair and reasonable, but there are certain individuals on this site with whom I am not prepared to “debate” as most of their posts and time seem to be spent trying to have a pop at me.
Imo, I add some value to this site in return for what I learn from others who post.
Yes, it’s no secret I do some coaching, if others don’t like that, fair enough, that’s their choice.
My choice is to continue doing what I do – and I will.

 

[Bobtarrel]

I'm new to the game and this board, but I am finding the posts to be invaluable in helping me come up to speed. The only problem is the number of negative people who fill the threads with nonsence criticism which make it harder to find the good information put out by the experienced and successful members. I, for one, appreciate knowing that Mr Charts or Naz or others have traded a particular stock even if they didn't give their reasons. I don't yet have the skills to discover them on my own, but I can go back and figure out what I should have done to find them. Indeed, I would dearly love a daily listing of all the successful trades from our top members with or without explanations. Is there any way to move the nonsence posts to another thread?

 

[mos3329]

Finlayson makes a very valid point that should be talked about.

I have nothing against the courses held by Mr C and Naz etc, in fact, I think they probably provide a useful service from experienced traders.

But posting trades and graphs with no explanation is just not on as you have to then question the motive. I do not believe in the lofty motive of allowing members to examine and decide or try and work out the reasons for themselves. If that were the case, we could all post winning/losing trades all day long.

If you don't want to share your reasons for entering that trade at that point then don't bother posting it as it is not providing any value, particularly when anyone enquiring on the reasons is told only selected paying people can have that information.

Many new members arrive at t2w and they would like to learn from the trade, but if they are not allowed to, then don't post it.

I beleive the motive, particularly Mr C's, is to act as a tempter to go on his course. That is fair enough as long as there is a large motif or sign that explains it is an advertisement and that 2w get some revenue from each post. If not we can all post our wares for free.

I was disappointed Mr C has not replied to Felix post yesterday at 10.25pm. Another fair point made. I agree that in the heat of trading it may not not possible to go copying/sending charts, but it is definitely easy to quickly type ' Gone Short CECO 1 minute ago' and later quickly type ' Closed CECO 1 minute ago for +26 points'. Mr C said he generally uses 5 min charts as an exit guide so would have time to post four words or so. Even watching level 2 it would easily be possible as it takes seconds. Posting much later, after the event, I could demonstrate amazing trading skill ever 30 minutes of the day, every day of the week.

The above is not a rant, just facts that I challenge anyone to dispute.

 

[Grey1]

Momentum US traders ,
Keep your eyes on INTC ( after hour upbeat forcast) ,JBLU ( cutting forcast), ABS( 3Q earning just before market open )

Donot forget the second pull back from High and low rule..

 

[oatman]

Thanks Grey