This post has been a few weeks coming - sorry for the delay.
I mentioned in June that I was doing some consulting work and part of my agreement is that I don't post charts and technical analysis on public forums until the end of the engagement. That consulting work has turned into a business opportunity and I am going to join a small group of talented traders and [hopefully] increase my earnings drastically. What's in it for me as an already successful trader? Access to a lot more equity than I currently trade with, and a few great minds who can crunch numbers and test a lot of my theories and practices across many markets and many instruments. And since most of you know my ultimate goal is to travel the world and only work an hour or so a day, this will accelerate what I want to have in place before I embark on that lifestyle of fun and adventure.
I have been in talks with Tom C. to take over the blog completely, but as any of my fellow bloggers will tell you it can be a time-consuming and sometimes thankless job. Of course, there are many positives too - like getting to know, interact, and exchange ideas with some great people (yes, you). And getting a good warm feeling that you might post something every now and then that benefits someone.
Tom C. is still undecided, but has agreed to continue posting a few charts now and then until he makes a decision one way or the other. He has been absent because of some health issues in his family, but as time permits he will be back. And maybe he will decide to take the plunge and do it more often - only time will tell.
As for me, I am still prohibited from posting charts and technical analysis on public forums until the end of the engagement. I can make other posts pertaining to non-trading subjects, and I know how much you all love my political views and witty sense of humor...so I may make a post periodically. But until the end of my agreement, you will not see any charts or analysis from me.
So stay tuned. Add the blog to your reader or subscribe via email (links at the top of the page) and you will be notified when Tom or myself makes a new post. Until then, I wish everyone all the best!
PS - if you are new to the blog, there are 3+ years worth of charts and posts that have a lot to offer...just click the "THE TRADER-X ARCHIVES" box on the right.
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Mentoring: The Key to Developing as a Trader
5 days ago
21 comments:
Sad for the blog but happy for you. I hope Tom C. continues. I have learned more here than any source, free or paid. Thanks so much!
I wish you the best!
I am new and I am trying to read back your posts and Tom's posts now
I really love X and Tom's tradings and views on the stock market
Thank you and Tom's hard work and I will keep reading more of the past posts
Good Luck X, hope it turns out well. Keep us posted.
Joey
X. Will miss you alot. Have learned so much from you. Thrilled that opportunity has found you and you are closer than ever to your dream. How inspiring to all of us.
Also, will miss your cartoons and great photos. Often sent them on to my son in college. Hope Tom carries on. Best of everything to you.
hear hear! For he is a jolly good fellow!
Good luck X. Wish you the very best. I have learned so much from this blog.
DEM
Good luck X. Hope to see you back in 12 months!
TR
X,
You have given freely of yourself and shared your ideas for years to help many traders become more profitable. Now Good Karma has come your way. I hope you succeed beyond your wildest dreams. I'm looking forward to learning your true identity in a future Market Wizards book.
Walker
Thanks for everything and enjoy!
-AT
Good luck at the hedge fund.
Hey X,
Sounds like a great opportunity. All the best! Too bad about the restriction with respect to blogging. Oh well, you can always come back to the blog when you retire, or under a pseudonym - Trader Z, or Trader John...
Thanks to you and Tom for all the great posts. I've incorporated many of your ideas into my trading.
Cheers!
No, I'll come back as Trader-X! Or maybe Trader Pedro, because it sounds cool.
I think I will miss blogging, so at the end of the contract I will probably be back. And I may make some non-trading related posts in the meantime.
Thanks for the positive feedback and well wishes.
Good luck Brotha! Looks like your sharing & generosity is coming back to you.
Particular thanks for turning me on to "Entourage". ;)
I know you will be back! It is like heroin, you can't quit!!!
Doc
Trader X,
Good luck with your new venture! I have learned a lot from you and I definitely appreciate all the hard work you have done over the years.
Thanks,
Tyler
thanks for the great posts. i have learned more than any book can provide between you, tom, and jamie. i think you need a clause in the contract that states you can post whatever, whenever for your readers. good luck and hope it all works out well for you.
Keep it moving, man.
Nice to hear you have some new opportunities opening up.
-DT
Great news for you X. Thank you for all of your hard work and selfless writing. Between you and the other sites you introduced me to, I credit you with helping me be profitable for the second year in a row.
Hope to see you back!
Hi X, Brand new to your blog. I know you are not commenting on trading now but when you do please just answer this simple question.
In this blog of yours
http://traderx.blogspot.com/2006/11/scanning-for-gaps.html
You said,
"I have actually simplified my scanning process, and I now only use Trade-Ideas. Here are the details of what I do:
I configure two "Alert Windows" - one window for stocks below $50, and one window for stocks above $50. For the below $50 window, I set the parameters to find Gaps Up and Gaps Down of 2% minimum, and Average Daily Volume of 100,000 minimum. For the above $50 window, I set the parameters to find Gaps Up and Gaps Down of 1% minimum, and Average Daily Volume of 100,000 minimum.
At 9:45 EST (15 minutes after the market opens), I open the "Alert Windows" and click the "History" link. Trade-Ideas then lists all of the stocks that meet that criteria for the morning. I do an export to Excel, and plug the stocks into my watchlist; it is fast and easy."
My one question si this when you are ready to answer, do you still scan this way with thse parameters or have you refined it and if so what do you do now?
Thnx
Can anyone suggest a route to getting started in trading for a college student. perhaps a recommendation for the major or just plain how to get in with a trading company. I live in Chicago so we have plenty of firms to go around.
Thanks in advance,
Nick
X, thanks for all the information and examples. Additional thanks for leaving the blog up while your off on your new adventure in trading.
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