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Wednesday, March 28, 2007

Ample opportunity today

posted by Tom C:

Sometimes there are not that many opportunities, sometimes there are...I am experimenting with some 10-minute charts using the same general X methods...check these out and see what you think:

LMRA - 7th and 8th bars are offsetting, entry on a break of the 8th bar high, rising 5MA, above the OR high...low priced stock, nice percentage return.

CTX - break of the 4th bar low - a riskier entry as it was above the OR low...

ANGO - break of the 9th bar low - need I say more? There was also a great entry on the 15-minute chart - break of the 6th bar low.

There were several more great trades - feel free to post yours in "Comments". I am leaving after the close, but will post a chart or two late tonight/early tomorrow. X is out today and tomorrow, back Friday.

edit - here are a few charts that I talked about above:





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29 comments:

bidmarket said...

X-Good trades,
Were those all on the 10 min?
Have a great day!

Anonymous said...

bid, I clarified in the post. Sorry.

Tom C.

Chris said...

Very timely as I have been looking at 10 minute charts too see if I can get more setups.

How long have you been trading them? Any real difference in the way the charts play out?

Is X considering taking it down to that level, or is he adament on 15-minute as the shortest timeframe.

Barry A. said...

interesting tom - would you post some of your longer term trades like you did last year? swing trades?

Anonymous said...

Chris - for a few weeks. The charts play out the same, but things just happen faster so you have to pay closer attention. X's issue is that unless you can master the 15 and 30, you will just lose money hand over fist by looking at faster timeframes. And he is right. You have to get the principles and concepts down, learn to trade them, and then adjust if faster is something you desire.

Barry - I will. I have had a few longer-term trades that I will post. I am not doing as many as the past, because I am about 90% focused on daytrading. But I have done some in my IRA, and will put this up this weekend or next.

Tom C.

Mr Doji said...

Yes, an excellent trade on ango
I video taped it at
http://mrdoji.blogspot.com
Have a great day!!
Mr. Doji

Gary said...

Tom C. You are giving X way too many days off. Why I am I paying this high monthly fee to access the blog? lol

greytrader said...

Short KBH break of 3rd bar low, cover at OR low. Short ARSS break of 4th bar low, cover at 38% Fib.

Anonymous said...

Trader-X has been spending a few days a week with a sick family member. He isn't very motivated to post on those days, though the hospital does have wireless access and I know he trades and surfs the net.

But he cut me in on 40% of the monthly subsrciption fee, so it is worth the extra work on my part.

: )

I am gone for the day...Tom C.

Walking Man said...

I would appreciate any help that anyone can offer on order entries. Today I tried to enter a short on ANGO off of the second candle of the 30'. My order with Cybertrade was a stop limit with the stop at 19.65 (slightly above the candle low 19.62) and a limit of 19.58. My order triggered but I did not get filled. Does anyone have any suggestions on how much room to give an order without entering it at the market? Thanks for your suggestions.

Victoria said...

Uhm, Tom, where did you get the idea for 10-minute charts?

Paul said...

Hey tom,

could u give me your thoughts on INFY 30 minute chart - short

I took a short entering on the 5th bar at 50.11 (low of the 4th bar, with stop high of the bar 50.32. I looked at the bar as a doji narrow. Its past its 30 minute OR and close to the 5ema- negivite is at the daily 200. Any thoughts feedback appreciated by anyone. Not sure how to post a chart.

gary said...

TS did well for me -- posted more charts on my blog

gary said...

for INFY, just my humble opinion it bounced off $50, round numbers are important to watch. Not saying your entry was wrong or anything but I have made it a habit to watch whole numbers and round numbers such as 10, 15, 20 50 , 75, 100 etc etc. Why not let it test the $50 again before you are triggered in?

Paul said...

good point Gary regarding the whole numbers - i only play stocks over 30 so I should keep a better eye on the 50 100 levels.

bl said...

Tom C.
I like the 10' esp when used with the 5/13 ema and >$20. Check the top 12 % up movers gap/no gap: ful sptn thor blkb nty cyno ipsu zolt insu cbey gme ts. Add most points up: nyx su sjm ffiv spwr. And gap/no gap dn: ango sigm bzh arro saia fcsx altr ntap ctsh fdx aapl

QQQBall said...

i started reading on another website about 10-minute charts, but i was distracted by the pix.

it will be interesting to see how the results vary for experienced "X-ers" from 10m, 15m & 30m set-ups.

best wishes X.

Anonymous said...

Victoria, you are absolutely right...I enjoy watching you trade the 10-minute timeframe and it indeed sparked my interest. Everyone:

Victoria's Blog

Walking Man - my fill was about .10 away from the trigger...price kind of jumped around so I can see that your Stop Limit might have been missed. I wouldn't kick yourself unless it is a regular thing - when you use a Stop Limit, sometimes you get in, sometimes you don't. If it starts happening every time, then maybe get worried. In general, if you use Stop Limits, I think what you had was reasonable and would usually be filled. Just not today in ANGO.

Paul - the 4th bar was doji-like, which indicates indecisiveness. It was also a little removed from the OR low, and the 5MA. I would have passed for those reasons.

Tom C.

Anonymous said...

bl - thanks I will check that out.

Tom C.

OONR7 said...

not to be outdone by Tom, Victoria or Esto... I am not trading off the 8 minute chart :)

OONR7 said...

I am NOW...

Trader-X said...

The situtation seems to have gotten out of hand. I am away for a day or two, and people are trading 10-minute, 8-minute...there is one guy in Arizona trading 4 1/2 minute charts.

I'll shut this blog down people. I'll shut it down now.

The only thing I will say ooNR7 is at least you picked a Fibonacci number.

Gary said...

lol

Sameer said...

Trader-X, you and your family are in my prayers. I hope all is well.

Larry said...

I tried to do 3.14 minute charts but my s/w won't let me.

Brian said...

Same here X. Have a good weekend.

Gary said...

VSEA hit fib 38.2 ONXX did not
More charts on my blog

bl said...

X,
Too funny....I was going to say when the cat is gone the "rats" come to play. BUT in all seriousness I use 10' on nyse cuz Scottrade's data is screwy on 15/30 charts. Out of 37 gaps 12 were good(OR break) and 7/12 were naz stocks.Best ideas were: cmc5/10' ckp4/10' rds/a -18/10' vod OR -4/10
ictg -8/5'...others medx OR 4/10' ntgr OR 3/5' ande OR 4/5' vsea 8/10' slb -11/10' hdb -14/10'. Did anyone short/or would you rht ttwo? MEDX OR 4/10' out near fib ext , and waited near the 13 ema dn .23 fib to reenter...not. Ditto dndn Comments?

estocastica said...

Tom C. - It's funny because Victoria's blog inspired me to research 10 min charts as well. I've mainly watched over the past few weeks but made a couple of trades on Thursday that worked out well. I like the pace of the 10s and 15s, as they are offset to on another (except for twice per hour). I think I've abandoned 30s for a while at least.

Great trading as usual.