Trading the US the Naz/Mr. Charts Way

[Finlayson]

Mr charts

fair play to u for that explanation, why do u not explain your reasons behind the trades when u post them, also with some explanation to your terminology. I have been involved in trading for a long time & 'base' & Tape' mean nothing to me as I would expect a Lot of the terminology I use would mean nothing to u......just words to explain the same things many times, but I think only fair when u r posting for all to see on the basis of helping, a deeper explanation is required, or it is as I have said an ad !......constructive criticism

my feeling is sometimes people on this board take things far to personally & questions should be read literally & answered in that fashion.

bobtarrel

I can see where u r coming from with that statement, but when u have been around this game for a little longer, put everything on the line, burnt all your bridges, scrimped saved & struggled to learn the game to give u & yours all they deserve maybe u will read differently & understand a little more about why people pose these questions.........they r not being negative they r just cautious & wanting to make it .......as all do in trading.

& any 'professional'..........no matter how negative the question should understand this & do their up most to allay people's fears

as I have said before " to whom much is given........much is required"

& now I can spell it right!.....

Jay

 

[ChartMan]

Bobtarre l
We try to maintain a balanced view on this bb. Sometimes this leads to controversial posts, but where possible, we leave those in place. We are , after all, entitled to express our opinions. I really do appreciate your comments about newbies having to read the negative comments, but somewhere along the line, someone somewhere will appreciate that input. What we do not allow, is personal attacks or slandering/abuse towards other members under any circumstances. There are two principal Tutors that frequent this BB. Mr. Charts and Naz. I have attended a course by both of them and have given my ( hopefully) unbiased opinion on them and their offerings elsewhere. Some may not like the way that they apparently tout for business. The bottom line is this. If any of the moderators considered that either of them was not 100% sincere in what they did, they would be shut out. Consider the debate about VS and others that are clearly making outrageous claims and sucking in the unwary. They will never , ever succeed on this BB and the members see to that in no uncertain terms.
Yes, I agree that just posting a chart seems to be a pretty pointless exercise, but there is , at the very least, something to look at in detail regarding a trade that has provided a profit for someone. You may well ask why are there no "losing trades" posted. I think there has been the odd one or two..... You will have to take it on trust that Mr. Charts has very few, He is not alone, but I have to admit, he is an exception rather than a rule.It is an exception that many would do well to aspire to. This has also been debated at length. Trading several times a day, with ( relatively) minute losses is not a myth. It is a goal that every trader should aim for.
I was a newbie once, and was inspired by someone.... It never crossed my mind to ask they whether they were a successful trader or not. Had I done so, I may not be where I am today. You should all listen to what anyone has to say.Whether that information turns out to be a gem and a blag, only time will tell. Either way , you will be richer and wiser for it.
If I go off on one sometimes, like an old woman, it's probably because I am.

 

[Felix]

Mr Charts

Thank you for your explanation and I apologise to labour the point but taking the one minute chart as you suggested. The line marked Short is the price you entered the trade and the line marked Cover is the price you covered your trade.

What I am surprised at is that you allowed a retracement of over 100c from the low shown at point 1 ($38.38) to the high shown at point 2 ($39.39). This is particularly in view of your reputation as being a low risk trader who doesn’t give back what he has made and yet you stayed in this trade and it was this that originally puzzled me.

Personally I had covered my trade at $38.82 at the first retracement. Point 3 is where you covered your short. I am still puzzled as to why you allowed such a big return of profits as this goes against all I have heard you teach about?

As can be seen by the chart the selling pressure had abated to use your words by just after 3.30pm


Felix

 

[blash]

Nice clear chart Felix.

Its a shame you couldnt include the first 20 minutes of the trading session to see why a short would have been taken.

Any chance you could post a chart with the first 20 minutes so we could discuss shorting opportunities.

cheers

 

[Naz]

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.

Bobtarrel. Thats a good point.

 

[Mr. Charts]

"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."
My earlier posting was for the general information of some people here, not anyone specifically.
The request for further explanation will not be answered, since that particular poster has no idea of my methodologies and I don't choose to enlighten him/her.
Why not? Because he/she has had repeated pops at me, (and others), over the months and has never contributed any single constructive posting on these boards, never shown one trade, never helped anyone, never explained anything.
Check out his/her postings for yourselves if you doubt me.
I believe you should give as well as take in this life.
Funnily enough, the more you give, the happier you feel.
I realise certain individuals find that difficult to understand.
What goes around, comes around, so.............
"But the biggest reason is that to be honest I just cannot be bothered to collate the information which you would then claim was fake."
The above words were used by that poster to someone else and are appropriate in this situation.
I have spent enough of my time on this issue and will not waste anymore in such a futile "debate".
Further posts on this subject will go unanswered by me.
I wish all reasonable people a good weekend.

 

[Newtron Bomb]

At the request of Blash here is the 1 min chart with the entries that Mr Charts has stated

Sorry for the size of the chart as it shows the entire day.

I would like to add that i do not sell anything or affiliated to anyone selling anything.

Additionally the amgn chart i posted has a simple set up which can be seen and a simple exit which can plainly be seen

i hate stating the obvious and i think it insults peoples intelligence. If anyone has a question about anything ive posted they usually ask
- no one asked but someone did point an accusing finger

Please do not use anything i have posted as a tool to poke at other members on these boards.

I am more than happy to enter into a civil debate and discuss opposing views but not petty squabbling with narrow minded individuals.

To everyone who trades
Happy trading
Newtron Bomb

 

[blash]

Thanks NB.

The chart is a little difficult to read, but my interpretation for what its worth is this.

Similar to the previous trade but the other way round.

Low of the day (which was within the first half hour again) broken so short and its also reversed from the open so very weak.

As Felix states though, I'm surprised Richard held on for so long once it penetrated up through $39.

But who can complain at a $3 profit.

The biggest difficulty I can see with trading these Nasdaq stocks is being able to watch and trade the stocks simultaneously.

Probably comes with plenty of practice, but the moves tend to come from the first half hour so a very short window and if your watching the wrong stock (one that doesnt move) then you've missed the opportunity.


Cheers

 

[neil]

There's more.......

If I may pop my head above the parapet for a moment.

Many people have a fascination with indexes to the exclusion of opportunities offered by US shares. Albeit it is better to trade them via direct access, I feel they could also be traded via a spread bet company if you are patient.

Citrix (CTXS) is a case in point today.

I keep a list of volatile shares and flick through them each day and whilst trading. Forex is traded on a longer time span.

Before some of you sharpen your knives let me state I have never been on a course advertised here nor do I sell anything or intend to.

Each to their own I guess.

Happy trading all.

 

[neil]

Meanwhile I keep an eye on JBLU for another possible short in the second half of the trading day - 7pm plus GMT.

 

[Newtron Bomb]

Short INTC @ 3218
Initial stop @ 32.30
moved down to 32.24
Reasons same as previous trades

 

[Naz]

For the detractors who obviously cant seem to see a decent trade when it pops out and stares them in the face and are more interested at sniping at the small detail i'll give a little more help on CECO.A fib retracement.

I'm going to the t2w Christmas dinner if they need any help in understanding it.

 

[Naz]

If they still having problems here's another.

 

[boy]

 

[blash]

Hi Naz,

I do find sometimes Fib's fit in after the event, what use are they during realtime trading.

Maybe you could explain where the trades would be from the charts shown.

Cheers

 

[Finlayson]

Mr charts,

I dont know if u r referring to me , felix or someone else but I think u r taking this a little to personally. people r only asking for clarification on your personal views on your own posted trades.

I cannot see that anyone else here is getting personal or rattled

But the biggest reason is that to be honest I just cannot be bothered to collate the information which you would then claim was fake."

The above words were used by that poster to someone else and are appropriate in this situation.

? who was this then........sounds like an MMA quote thought he was long gone.

anyway for what it is worth, here is what I think:

CECO: was clearly in a down trend from previous trading to start so clearly weak, but nothing too telling or clever so far, however stock began to trade lower than the average being payed for the period around 14.35 ish time & was rejected from this later around 14,47 ish & 55 without trading higher......good sign of weakness.

a clear sell opp & down trend. A fair entry could have then been taken on the break, but a better entry could have been taken on the timed compression that also existed if possible....the shorter time span & tighter the better.

a trailed protective stop, with a tight & possible stop out around the bottom spike & ledge type price action.

all easy for me to say as I wasn't trading it but just thought I would give my opinion of what happened.

Jay

 

[Grey1]

NAZ,

THANKS FOR THE CHART...

Do you always use 5 minute chart to analyse the next move ?

 

[Naz]

Blash

Thank you for being nice and i appreciate your opinion about fibs looking good after the the event.However i used them LIVE whilst teaching a t2w member (check with Sharky for confirmation) and took a $6 run with half my position whilst using the fibs in the pullback.I took the same entry as Mr C just ran it longer.

 

[boy]

coco going coco!!!

 

[Grey1]

PAIR TRADE

An example convergent pair trade.. MEDI against AMD.. it is always a safe bet to hedge a stock from Semiconductor against drug ,Bio .. Traditionally Bio are more defensive than Semi but due to overvaluation of semi stocks they have now shifted position to being the defensive sector against Bio..
So as a Trading Rule one could hedge these two sectors against each other when they approach their high or low of the day ..