Welcome to the Trader-X blog!

> TRADEthemove.com - my thoughts
> meditationSHIFT (formerly "tad")- just say "om"

Monday, January 26, 2009

Random thoughts for a Monday


I wanted to highlight a comment Bill G. made on the previous post. He said:

"I may be in the minority, but I enjoy you posting charts without a lot of analysis. It forces me to do some work to try and see what you are seeing, and I have learned a few things over the past few weeks.

When you spell it out, most people won't get it. When you make them figure it out themselves, most will."

Bill gets it.

These charts are in honor of Bill. You can make a living trading only these setups - they happen every day, but you only need to catch a few a week (depending on your income needs, of course).

Having said that, I will start posting some analysis again in February as I have successfully accomplished my January goals.

Grocery store

I hate self-service checkouts. As it stands, I already bag and carry-out my own groceries most of the time. Now they want me to be the cashier too? And, they don't even offer me a discount on my bill. What sucks is my grocery store only leaves one or two "regular" lanes open to try and force people to use self-service. It is really starting to irritate me.

President Obama

John Stewart highlights the stupidity of Fox News:

And I thought this was a cool t-shirt:

note - don't forget to check my links on the right - "THINGS ON THE INTERNET THAT CAUGHT MY EYE"...I post some interesting stuff there and update it on a regular basis. If you are reading the blog in a reader or via email, you might consider clicking through to the actual site every few days.



Zach said...

I am in the other group Trader-X,who would love to see your analysis and your entry and exit points. For novice trader like me, the chart with analysis were very very useful. I understood the setup based on your analysis, your entry and exit. It's fine if there is no analysis on those setups which have already explained before but for new setups, please provide some analysis for readers like me.

Thank you for the great blog.

Trader-X said...

Thanks Zach - out of all the charts on the blog...which spans several years...the only ones without analysis are the ones posted over the past 30 days.

The reason is because I have been refining my trading, but still wanted to give readers some charts to think about.

Thanks for reading.

Zach said...

Thanks Trader-X. Looking forward to your Feb. posts.

Congratulations on meeting your January goals.

Susan said...

Oh. My. God. Get out of my head, Trader-X. My husband and I just had a debate over self-service lanes. They are the tool of Satan.

OK, maybe I am being a little dramatic. But I hate them.

Anonymous said...

I traded TOT today. Great setup.


QQQBall said...


don't go to "Fresh & Easy", they don't have any checkers.

the "F&E" scanners are good, the ones at ABS suck and every time i try to use one, it needs store assistance. and you're right, 2 checkers and no express lane, so i have no choie... except to shop somewhere else ;)

QQQBall said...

GG - was the set-up a short at appx 1.382 extension of 3-day range?


Newbie said...

X, did you see the same thing in CF as you did in TOT?

Anonymous said...


If I may, TOT and CF are quite different. Consider these questions:
1) Where did they gap to with respect to the previous day's range?
2) Was there "white space" left after the gap? (see X's old posts).
3) Compare the relative strength of the first 15m candle (opening range)? tails? full-bodied? Then compare after the second 15m candle?
4) What kind of volume (relative to their respective average volume) did they display in the opening range? Although X does not use volume directly.

These types of questions help to distinguish.

Trader-X said...


That was not my reasoning, but nice catch...it just shows the synergies and multiple setups that develop across different timeframes. My setup was actually based on the morning's action only. I will elaborate more in Feb.


Nice analysis!

Todd said...

I had a feeling you were entering setups now based just on the morning's range. Is that what you are doing 100% of the time?

Trader-X said...

Todd - I am focusing on Fibs over the morning range...usually the first 30-minutes.

More in Feb!

Todd said...

Thanks. I have been trying to do that for the past six months with my trading, so I am looking forward to seeing what you are doing.

Thanks for sharing so much.

QQQBall said...

i was a skeptical of the 50% fib levels... but over the recent past, ive been amazed at how often it is a S/R or bull/bear line and also how many times price reacts quickly at that level...

what is only clear in hindsight, like after the second extreme or boundary has been established, is that the same level was S/R before the parameters of the low-to-high fib range were both established.

thanks again - im seeing the market in a different and clearer manner.

Maxy said...

Hey X
I have a question about the GG chart. Is there a set up to go long on the 1/23 day? Really appreciate it. Thank You

Trader-X said...


Just eyeballing it (I don't have my actual charting app open now), you can make an argument for a long on a break of the fifth bar high. It is a doji, and looks like it pulled back to support from the previous day's high. That fourth bar is a little disconcerting though... (it did leave a long lower-tail though).