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Tuesday, July 14, 2009

Is the year really half over?

2009 is flying by. I have received a few emails asking if the Trader-X blog is dead. I hope not, but there are many things going on in my life and while I would love to have Tom C. post more often, it is not a priority for him. I can't say I blame him, as he doesn't get paid much ($0), and it can be a thankless job.

In my defense, I did send him a nice birthday e-card!

I will try to bring everyone up to speed on what I have been doing, Tom C., and the future of Trader-X. My goal is to get a post up by week's end. In the meantime, I have faith that Tom C. will post a few charts before then!

But, I have been wrong before.



Luis Miguel said...

You both have made a great job. I am learning a lot with your posts. I hope you will be able to continue generating content in your blog: very good work !

tick said...

What are you guys using to screen out stocks. I would love to implement your methods.


bl said...

Bring it on guys. I always appreciate and learn!

jun said...

hi traderx.. im currently trying ur strategy on ES futures...
would be more than happy to see more posts about futures :)

Anonymous said...

Thank you and Tom for your generous sharing. I have learned a lot from both of you. look forward to more charts from you.


Tyler said...

Trader X,

What is your experience with a setup like JNS from today, July 15? I am using 15 MIN charts and there is a gap down, but the stock shows strength and the second bar prints a hammer that is also IB. I don't normally like the setup for a gap up because I think price needs to consolidate or pullback more (depending on size of the gap), but for a gap down it looks really good. I suppose it is like Tom C.'s "reversion to the mean" type trade. I have not really paid attention to this type of trade before, so if anyone has experience with it please let me know.


OJ said...

alot of the questions in the comments remain unresolved. why is that?

Trader-X said...

OJ, they have not been answered because I - and Tom C. - don't have a lot of time now to read them, and even less to answer. But most importantly, they are not answered because they have been asked many times over the years, and most of the answers can be found by clicking "WELCOME AND LINKS TO KEY POSTS" at the top of any page. I hope that answers YOUR question. Anyone else who has a question that can't be answered by reading the blog probably needs to repost the question.

Tyler - I will look at it this morning and give my opinion.

Trader-X said...

Tyler - that is actually a nice in the tail setup which I have posted several times over the years, as well as Tom's reversion to the mean. If you use MAs like Tom, you will see that the 8EMA provides the first resistance and pullback before price rallies to new highs.

I would agree that it is more reliable on a gap down, though I have traded it on a gap up when the first bar is weak and closes at the low, and the next bar is a consolidation. But again, yes it is more reliable on the gap down.

Good trade - I didn't even see it.

Trader-X said...

Tyler - that is a nice textbook trade overall. The 8EMA and PD low provide the first resistance. Price breaks through that level and consolidates at the are of the PD close and high. Then price rallies to new highs. Price ultimately fails at the FE of the PD high to the OR low.

Tyler said...

Trader X,

Thanks for the response, it was very helpful.

I have bee through the archives so many times, but could not remember the setup, so thank you for clarifying.


jun said...

may i know what is PD? i try to search in Q&A section but couldn't it.

anyway, i apply your strategy in ES this few days, and it works awesomely! price reverse and the support pt and hit FE ext perfectly!

Roger said...

pd = previous day

OJ said...

hi X,
i watched trader AM blog - he is using the same approch as you. one of his trades in the past days was this:

would you enter this trade? do see any signals that it going to fail?