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Saturday, October 14, 2006

CROX - 101206; 30-minute chart

Here is a chart posted by Charles in "Comments".

A classic "bread and butter" set-up, nice hammer (second bar), and support from a rising 5MA and the retracement zone. It did not hit the Fibonacci extension but was a nice trade nonetheless.

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Sam, AZ said...

MEE short on Friday was nice. Kind of like this chart in reverse. Get well.

Newb said...

Excellent blog. My problem is having too many stocks on my list every day. I cannot focus, and miss all the setups. Advice?

Trader-X said...

newb - try focusing only on the NASDAQ, and sort your watchlist by volume and only look at the top 10, 20, or whatever you can handle.

After a while, you will be able to focus on more. It is just like anything else - the more you practice, the better you get

El Toro said...

Hey X, I would like your thoughts on trading NASDAQ vs. NYSE stocks. I often get chopped up in the NYSE listings due to the specialist and would like to know if it was just bad luck on my part or part of the game?

Trader-X said...

I make no secret about my preference of NASDAQ over NYSE. Although I trade NYSE, I prefer NASDAQ. My entries, exits, and fills are sometimes terrible in NYSE...so everything equal I will pick a set-up from NASDAQ.