Any successful chart traders here?

[nulla nulla]

oh, i see.....i have 22 magic wands, 3 jars of everything-will-be-alright-just-hang-in-there cream, 1 ex nazi black box and a harry potter lookalike pair of special glasses (donated by the gann family)

interested offers can email me on wannabeanumpty.con (nigerian url for uber security)

Cute. Unfortunately not everyone can get it right from first try. But perserverance and refining your strategy can pay in the long run and charts can be very helpful along the way, particularly in equities.

 

[tech/a]

This is a good question one which deserves a more considered response.
Perhaps collated is a better description.

I'm not saying those contributing haven't been considered in response.

There are some real gems of wisdom hear which I would like to comment on---as I seem to be alone in the area of giving comment to the trading technically profitably case---or perhaps the only one willing to cop it and discuss various comments and cop it again.

Below is in no particular order but excerpts which I would like to address.
Stage one of probably 3.

What about algorithms that design to create a certain patterns and get everyone on board

Yes quite possible but if it was designed to trap it wouldn't be long and another algo would see that as plain as day.

Well if after a few months maybe 300 -400 hours you cannot see some sort of market repeating and how to trade it you would really need to reassess exactly what you are doing. You know the saying "Don't keep on doing the same thing and expect a different outcome"?

Chart time as you have said many many times will have you sub consciously aware of a pending move.
That's where you need to be. Recognizing and being on a pending move.

Most chart traders make money in bull markets and flop around when there isn't a bull market. Basically making money from the fact that at times stocks tend to trend. So in spite of their claims of an edge they are really just using T/A as money management, that is not losing too much until they get a lift when the tide rises. Few that I have seen show any real edge to read the market and put money to work consistently at the right time. That is clearly evident in their low win rate. And need for a few 10R or more winners to lift their account above BE.

Most Chart traders cant turn a profit even in a bull market. But outperforming the index in a bull market by a comfortable margin can be achieved by a good chartist. I've done it. Bloody hell if you cant turn a good profit in a bull market---and many cant---what are you doing. Id add the fundamental boys into your flopping around group as well--certainly from what I've seen. I doubt they will ever outperform even in a screaming bull market.

T/H what you have witnessed from me at least are Stock trading exercises which are designed to do exactly as you have described---forced M/M.Putting punters in the position to capitalize on 10R winners as they come up.
We had one in my exercise and wrote off 3 mths of losses with 1 trade and the help of a little movement in 2 others. The method was as basic (For reason) that you could get. A total novice could follow it (For reason).

I trade the '3rd option'. Its basically just knowing what your fellow traders, more to the point the locals, will be doing and how they trade given a particular option ie the type of market we are in. This I believe comes about from experience. I often know how my day will play out 1 or 2 minutes before the open and take my biggest bets most of the time within seconds of the open. Its just a play I develop from knowing where we are and who is likely to be playing. The market context.

Anyone who has stared at a chart of something long enough will associate with your 3rd option.

"If this trend line breaks we could go lower"

Ha! I read that stuff and think.... well thanks and if it does you may but probably wont be taking a position either way so what is the point of thinking like that??!!

This is just reactive blah from people who have no idea how to implement a technical trading methodology.
I've said a thousand times that analysis (Any form of analysis) without practical application is a plane without a pilot. Pretty useless.

But you can recognize faces of people you haven't seen in 30 years. That same innate skill is how you read a market and trade it. What looks like a trendline break in classic TA is sometimes the perfect exhaustion push lower to load up long for a run to new highs. Its the ability to recognize the face of a bullish market that is how you trade

The best analogy I have seen.
Brilliant.
And as an aside why you cant make it available to the masses. There is a whole host of friends right on the chart that you'll recognize given enough time to "SEE" them.

More as I get time.

 

[Joules MM1]

Cute. Unfortunately not everyone can get it right from first try. But perserverance and refining your strategy can pay in the long run and charts can be very helpful along the way, particularly in equities.

lol, it was an agreement....many people think learning a musical instrument only takes a cupla weeks and it does....if you want to play off key with the wrong time signature...

 

[nulla nulla]

lol, it was an agreement....many people think learning a musical instrument only takes a cupla weeks and it does....if you want to play off key with the wrong time signature...

Touche. My error. Cheers & thanks.

 

[burglar]

lol, it was an agreement....many people think learning a musical instrument only takes a cupla weeks and it does....if you want to play off key with the wrong time signature...

"A gentleman is one who can play the bagpipes ... but chooses not to!!"

 

[Joules MM1]

"A gentleman is one who can play the bagpipes ... but chooses not to!!"

ye nay know the differerrenz tween a set o' baggies and a banjo ?

...bag pipes burn longer

 

[Wysiwyg]

I've spent thousands of hours, but none of my observations have ever lead to anything that has given me an 'edge'. Sometimes my stuff works. Other times it doesn't.

I experienced the same thing and possibly because I do not have a herd mindset. I now concentrate all my hard earned into property. I will look at share investment in the distant future. Investment because of dividend returns, negligible brokerage fees, negligible fearful emotion, restful nights sleep, better eyesight and more free time to focus on wholesome activities.

Share trading -- it really is a punt.

P.S. I have some Amibroker T.A. systems that you might be interested in.

 

[Joules MM1]

here's a good example of "i've seen this **** before, time to get out, cover or go long"



sneaky work.......no news.....no excuses for shorts to get cut to pieces

 

[Wysiwyg]

here's a good example of "i've seen this **** before, time to get out, cover or go long"

sneaky work.......no news.....no excuses for shorts to get cut to pieces

Fairly nasty $12 drop earlier today if you were long. On a three minute chart surely a foray would be brief as the 1H downtrend is still strong and intact. The last few MACD upswings have seen the price remain flat and then fall away again.

 

[subterfuge]

.....
todays efforts.

 

[Joules MM1]

Fairly nasty $12 drop earlier today if you were long. On a three minute chart surely a foray would be brief as the 1H downtrend is still strong and intact.

for those holding and getting shaken out, yeah, it'sa lot on mragin that's for sure

we paused at 1236 ratio on my work and now we should get to 1238's and cutting of that level should give us some technical chasers, squeezes and get-me-outs.....

long until told by the chart to do otherrwise .....$$

 

[Joules MM1]

wot are you observing? wot is there to ask?

there are observations to be made at all time levels......

questions to be asked versus "show me red-light green-light and i'll make the trade"

everybody wants red-light green-light......wot works best for some is left hemisphere, right hemisphere

 

[Joules MM1]

as live as i can get



it's a cfd, no ladder, no depth, no indicators........left hemisphere, right hemisphere

 

[Joules MM1]

and break-away, squeez, momo.....

 

[Joules MM1]

.....
todays efforts.

are you just here to pull our whizzers?

 

[subterfuge]

are you just here to pull our whizzers?

I'm not even sure what that means! lol
Can you elaborate?

 

[Joules MM1]

i'm out of that play at 1242's .....looks like a hook so far as silver also hit a measure spot-on.....

done for the day

 

[subterfuge]

1 NQ trade and a few CL trades, and likely done for the day.
A rare winning day

 

[kid hustlr]

This seems like as good a place as any to post this.

(Not sure if this is genuine or a pi** take to be honest)

http://www.youtube.com/watch?v=MwKYjZ_8EcE

 

[subterfuge]

First ever time trading gold.
Shorted the break of the previous low. Nearly stopped me out, but ended up a winner