WIn a car ??? I dont have anything on my site for that......maybe a mistake......be good.
Trading Methods & Techniques
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Chris,
Thanks for the posts and informative links. I have a question on your training link on the first post of this thread where you give a nice example of dealing with the chop in a consolidating market.
On the previous day of your example (10/31) you drew a trendline over the highs on a sell off that began at around 10:00 am. This trendline was broken at around 2:00 giving a buy signal at around $34.20. Based on your comments, would the stop be set at the previous "turning point" at around $33.70? If so, and assuming this is treated as an intraday set-up, my target would be the previous high at roughly $34.90. If you agree, do you find this to provide an acceptable risk reward ratio?
Personally I struggle with the concept of "needing" a 3:1 risk reward ratio on such short term setups. It seems unlikely most of the time and often results in what could have been smaller wins turning into losses simply because we are "told" to look for higher risk reward ratios and hang on while the gains we had are lost. Any thoughts are appreciated.
Thanks for the posts and informative links. I have a question on your training link on the first post of this thread where you give a nice example of dealing with the chop in a consolidating market.
On the previous day of your example (10/31) you drew a trendline over the highs on a sell off that began at around 10:00 am. This trendline was broken at around 2:00 giving a buy signal at around $34.20. Based on your comments, would the stop be set at the previous "turning point" at around $33.70? If so, and assuming this is treated as an intraday set-up, my target would be the previous high at roughly $34.90. If you agree, do you find this to provide an acceptable risk reward ratio?
Personally I struggle with the concept of "needing" a 3:1 risk reward ratio on such short term setups. It seems unlikely most of the time and often results in what could have been smaller wins turning into losses simply because we are "told" to look for higher risk reward ratios and hang on while the gains we had are lost. Any thoughts are appreciated.
I appreciate your messsage & I appreciate you taking the time to study the charts, I agree with you, on that one trade your risk would have been higher if you used prior lows, I did draw in a trendline about 1pm or 1:15 in that area & that turning point as it tested previous support was a good spot to work a buy on a reversal.........but your right the one at 2pm held higher risk , but common sense says you have to realise yes its a broken trendline BUT its not at a turning point its just breaking a nice trendline.....you would as a trader keep a safe stop below a trendline in the event it turns down, the 1:15 turning point would use the low as the stop, maybe my putting that 2pm trendline in there was a mistake on my part because it may confuse sombody or a few people who took the time like you to study it.......but your right if you used the lows you could have risked alot more than you could have made...I agree.......but if you ever encounter a situation like that, just use common sense & risk maybe .30 cents or something & keep your losses low....this is a scalping method we use for our trading & my assistant finds these trades all day, we use this method on 5 min 15 , 60 min charts.......bigger time frame bigger risk but it tends to keep you focused on support/resistances in a range, right now from 11/12 the markets have been prime for this method........until we breakout of this big hourly range thats turning into a daily range, we will have great scalping markets..........keep up your work & thanks for taking the time to study my work,, whatever you need help on or anything , please ask I think we help each other & my goal is to learn & teach .........this is one trait I plan to keep for life.....learning & teaching....we all need to do that.........thanks chris
send me emails ..... that were written in this very same format..... and in those emails ..... there were some crazy looking charts .... with tons of trendlines ..... and BRIGHT colors .... Then one day the emails stop .... the phone calls ended .... and to this day I still wonder why .... 
Hey stranger! It's great to see you here on the board. And I think the members are very lucky to have someone like you here. I still remember all the work you were doing on those charts back then ... and it looks like you have taken it to the next level.
A couple of years back someone gave me a great compliment. It went something like this, "It is great to see someone succeeding just being himself."
Well, I guess it's payback time. Lot's of things happened in the last two years and it is great to see someone succeeding just being himself And, I truly appreciate the credit you give Linda. Most people forget once they become successful.
BTW, tell her I said hi. And now that you are a member of Elite you must attend our meeting at the upcoming NY Expo. I will post more details three weeks prior to the event.
It's Jordan's 4th B-day party (actual birth date is 12/4) today at Chuckee Cheese, and I'm so excited that I can't sleep.
Looks like my cable Modem is still working too. Hope that will last a looooooong time. Have a great weekend everyone.
Hey stranger! It's great to see you here on the board. And I think the members are very lucky to have someone like you here. I still remember all the work you were doing on those charts back then ... and it looks like you have taken it to the next level.
A couple of years back someone gave me a great compliment. It went something like this, "It is great to see someone succeeding just being himself."
Well, I guess it's payback time. Lot's of things happened in the last two years and it is great to see someone succeeding just being himself
And, I truly appreciate the credit you give Linda. Most people forget once they become successful. BTW, tell her I said hi. And now that you are a member of Elite you must attend our meeting at the upcoming NY Expo. I will post more details three weeks prior to the event.
It's Jordan's 4th B-day party (actual birth date is 12/4) today at Chuckee Cheese, and I'm so excited that I can't sleep.
Looks like my cable Modem is still working too. Hope that will last a looooooong time. Have a great weekend everyone.
Hiiiiiiiiii,
Tony, when I met you at the expo , I have to say you where one of the biggest influences to me as far as humbleness & success & just a outright great guy.........After the expo 2000 that I was at with linda.......http://www.daytradingstocks.com/Expo 1.jpg
chris wheeler put our pic on the site of linda myself & my 2 original mentors that I met for the first time in person, my website is not stockchartwizard anymore as in the pic, but that was a special event for me...I had a pic with all those involved in my trading successes......for one I was able to see Linda for 3 days & hang with her , I met you, I met Brandon, Alan Farley, Mark Wienstin ( market wiz), Mark Cook, was just in stock market wizards & we became friends thru Linda., Teresa Lo......I also met larry Macmillan on & on.......traders I read about & I felt that weekend was one of the best !, I was at a dinner table with Linda, Mark, you, alan, Teresa Lo and cannot for the life of me remember the others, BUT I was a kid in a candy store with all these allstars, true money makers & traders that have pioneered the way for people like myself & many others............. I met like i said my 2 original mentors, I was trained online & on the phone how to trade at first, myself a 15" monitor a 5 min SP chart & Lisa in that pic guiding me why to get in & out., today at my office we have many computers & a few dozen monitors & looks like nasa...I will take a pic & post soon, a very nice nice setup you have to see it....maybe next week i will take a pic....I do not forget where I come from Tony........you are right & I never will, not my style ........but I stopped sending you my work because #1 you I felt are a very busy person & I did not want to clutter your email with my gazillion charts ! & also Linda & I had started a chatroom service for Carlin Equities equities that next month & it was & still is allot of work & pressure for me as I never did that before ....was a new world I was going into & I at the time put my entire attention into it to make it a huge success & I thank God almost 2 yrs later we are growing & have been consistent in all market environments.....my own trading is going well & its basically just staying disciplined & finding choice ideas to trade, allot of good is happening, I spoke at the Oct forum for traderslibrary.com & somebody that works with active trader mag seen my work & invited me to do articles, I also had them in my chatroom to see my pics to show them this stuff DOES work in realtime........so I have some good things coming this year with them, your right.........Linda...she is the master trader....I sit in awe all day long as she calls the markets, I am grateful to have been a student of hers & been able to grow under her wing & teaching for the time I have........I make it known & clear to all people I speak to at any seminar or conference or wherever, without her I was not going to make it long term & ever see big money, I think we all need mentorship & there are those that luck out & don't BUT I did & never to proud to be taught, I bought your books, I always suggest them to people, & you have a highly respected name in the business of being a total professional & true success, one of the pioneers in the business, & I am happy you took the time to write me a letter.......Tony that means allot to me......I am looking forward to seeing you at the expo, I will be with Linda of course as she is coming into town for the keynote speech..........congrats on Jordons Bday big proud daddy !..........
one thing I do say is that these events create some great friendships......I met Brandon & Toni at the 2000 expo & Brandon & I are on the phone all the time....actually even today 3x....great couple, you introduced me to them, remember ??.......I tell you if i was to pick 1 couple that I felt had it all together, its them, they are just a great team, primed to have incredible successes & always giving to others like you do.........Anyway thanks for taking time to post your hello & I have allot of good things planned for the threads I started here & on SI......Brandon is to thank, he got me started with SI & suggested I do posting & somebody else suggested I do same here.......I Love that interaction with traders, in my chat its one way typing from linda & I no interaction so these forums are awesome, wish I knew about them 2-3 yrs ago........goodnight & see you at the expo......Chris
Tony, when I met you at the expo , I have to say you where one of the biggest influences to me as far as humbleness & success & just a outright great guy.........After the expo 2000 that I was at with linda.......http://www.daytradingstocks.com/Expo 1.jpg
chris wheeler put our pic on the site of linda myself & my 2 original mentors that I met for the first time in person, my website is not stockchartwizard anymore as in the pic, but that was a special event for me...I had a pic with all those involved in my trading successes......for one I was able to see Linda for 3 days & hang with her , I met you, I met Brandon, Alan Farley, Mark Wienstin ( market wiz), Mark Cook, was just in stock market wizards & we became friends thru Linda., Teresa Lo......I also met larry Macmillan on & on.......traders I read about & I felt that weekend was one of the best !, I was at a dinner table with Linda, Mark, you, alan, Teresa Lo and cannot for the life of me remember the others, BUT I was a kid in a candy store with all these allstars, true money makers & traders that have pioneered the way for people like myself & many others............. I met like i said my 2 original mentors, I was trained online & on the phone how to trade at first, myself a 15" monitor a 5 min SP chart & Lisa in that pic guiding me why to get in & out., today at my office we have many computers & a few dozen monitors & looks like nasa...I will take a pic & post soon, a very nice nice setup you have to see it....maybe next week i will take a pic....I do not forget where I come from Tony........you are right & I never will, not my style ........but I stopped sending you my work because #1 you I felt are a very busy person & I did not want to clutter your email with my gazillion charts ! & also Linda & I had started a chatroom service for Carlin Equities equities that next month & it was & still is allot of work & pressure for me as I never did that before ....was a new world I was going into & I at the time put my entire attention into it to make it a huge success & I thank God almost 2 yrs later we are growing & have been consistent in all market environments.....my own trading is going well & its basically just staying disciplined & finding choice ideas to trade, allot of good is happening, I spoke at the Oct forum for traderslibrary.com & somebody that works with active trader mag seen my work & invited me to do articles, I also had them in my chatroom to see my pics to show them this stuff DOES work in realtime........so I have some good things coming this year with them, your right.........Linda...she is the master trader....I sit in awe all day long as she calls the markets, I am grateful to have been a student of hers & been able to grow under her wing & teaching for the time I have........I make it known & clear to all people I speak to at any seminar or conference or wherever, without her I was not going to make it long term & ever see big money, I think we all need mentorship & there are those that luck out & don't BUT I did & never to proud to be taught, I bought your books, I always suggest them to people, & you have a highly respected name in the business of being a total professional & true success, one of the pioneers in the business, & I am happy you took the time to write me a letter.......Tony that means allot to me......I am looking forward to seeing you at the expo, I will be with Linda of course as she is coming into town for the keynote speech..........congrats on Jordons Bday big proud daddy !..........
one thing I do say is that these events create some great friendships......I met Brandon & Toni at the 2000 expo & Brandon & I are on the phone all the time....actually even today 3x....great couple, you introduced me to them, remember ??.......I tell you if i was to pick 1 couple that I felt had it all together, its them, they are just a great team, primed to have incredible successes & always giving to others like you do.........Anyway thanks for taking time to post your hello & I have allot of good things planned for the threads I started here & on SI......Brandon is to thank, he got me started with SI & suggested I do posting & somebody else suggested I do same here.......I Love that interaction with traders, in my chat its one way typing from linda & I no interaction so these forums are awesome, wish I knew about them 2-3 yrs ago........goodnight & see you at the expo......Chris
Thanks.............I am working on my business plan for 2002 this weekend.........GURU ? You are very correct on that, I do not ever plan to be or act as one....I just care about making money & staying profitable & sharing what I do, I enjoy it, when its not fun anymore I will stop BUT I do not see that happening anytime in the next 100-200 years or more hahah ........that's what my work is about, making money , learning & sharing & staying that way over the long haul & not getting blown out because my head gets big like a balloon, I love to help and share with others, make new friends & be happy & have a low stress trading business...... I will leave that GURU garbage to others, I just want to stay focused & stay on the road to success, my mentor Linda is incredibly successfu, fact not opinion l & she is the humblest of all.....I am her student & follow her because of the fact she doesn't think or act like she is Gods gift to trading & the world.......she is cool & very humble & the hardest working person I know......
http://www.stocktrendwizard.com/succss.htm
here is an outline around the middle of this link to give some ideas on writing a business plan..........
If you have no goals, how will you get there.........?
Anyway I am going out for a few hrs......have a nice weekend
Chris
http://www.stocktrendwizard.com/succss.htm
here is an outline around the middle of this link to give some ideas on writing a business plan..........
If you have no goals, how will you get there.........?
Anyway I am going out for a few hrs......have a nice weekend
Chris
Scott,
Unfortunately, I lost that entire computer the day before Thanksgiving. Major virus or hack or I don't know what. It wiped all the backups including the formatted CD-RW. Don't know how.
We have been working on data recovery, but 80%+ of everything we recovered so far is not useable. Anyhow, I will be setting up a new computer for my personal emails and fun stuff when I return. In the meantime, tony@tonyoz.com is the best way to get a hold of me.
Chris,
Keep up the great work. I will see you in NYC. incidentally, I spoke on the phone with Brandon and Toni on Friday during trading hours, then you posted that you talk to them all the time. This is a very small world
Unfortunately, I lost that entire computer the day before Thanksgiving. Major virus or hack or I don't know what. It wiped all the backups including the formatted CD-RW. Don't know how.
We have been working on data recovery, but 80%+ of everything we recovered so far is not useable. Anyhow, I will be setting up a new computer for my personal emails and fun stuff when I return. In the meantime, tony@tonyoz.com is the best way to get a hold of me.
Chris,
Keep up the great work. I will see you in NYC. incidentally, I spoke on the phone with Brandon and Toni on Friday during trading hours, then you posted that you talk to them all the time. This is a very small world
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