Welcome to the Trader-X blog!

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

Saturday, December 18, 2010

Promoted from comments...

My trading is still sporadic and will be through the rest of the year. I am unofficially on vacation - I say unofficial because I still look at charts every day and make a handful of trades during the week. But I won't be fully back "into it" until 2011, and hopefully my family situation will have improved by then (by the way, thank you to everyone for all of the well wishes).

I am pleased - and extremely fortunate - to say that 2010 was my best year ever trading. I will post more about it in the coming weeks, and also take some time to post about other things we discussed in comments (meditation, for example).

In the meantime, here is a chart from Ed K...Ed writes:

"X, I trade the five minute charts and have found a lot of the beyond the Fibonacci extension setups. I don't find them every day, but I find at least 3-4 a week and have been very profitable. Today was NYMX. I entered on a break of the 2nd bar high (it was red, but didn't break back below the FE line). After an initial pop, price formed a tight flag and when the 8EMA caught up it exploded. I booked a dollar profit which was almost a 20% gain. I am off to celebrate. Thanks for the great content and the free education. I hope your family member makes a full recovery."

"PS, my Fibonacci lines are from the previous day's close to the current day's open."

Here is my rendition of his chart*, and I marked Ed's trigger bar (he entered on a break of this bar's high):

I had pivot lines (the yellow, blue, red, and green lines) turned on when I printed this chart, but they didn't play into Ed's trade so please ignore them. I am too lazy to reprint the chart! The Fibonacci lines are white, so just focus on those.



bl said...

Thanks for the NYMX share. FWIW, BussyStocks.com has all the premkt gappers and for those who don't want to scan it's a blessing. Fri list of 14 most pts up included: nymx itmn rimm orcl athn rbcn hsft ctsh....looks like a nasdaq only site premkt.

Steve said...

Nice trade Ed, Cheers!

Victoria said...

I was watching NYMX but didn't pull the trigger. Nice one.

joshua said...


i think you meant busystock.com finviz has a free decent scanner as well which you can tweak to show the percentage gap, how many shares trade on average, etc. It will help to thin out your list.

personally, i use trade ideas and then it dumps the stocks into quote tracker so i can organize all the gappers into different portfolio windows. one for gapping up, the other for gapping down. i then sort by vol % change on the day to see which ones have the most volume behind them.

there is another tool which costs about $80 one time fee vs $38 a month for trade ideas. it is called spiderscan. it will gather the stocks from numerous websites and dump them into quotetracker as well. i bought it and used it for a bit. the problem was, if i remember correctly, i wasn't able to weed out stocks on finviz that do not have an average daily range of +1. you can do that manually on finviz, but not through the spider tool.

Flowtastical said...

Trader X,

Does the 2 and 5 min provide more opportunity in your opinion? I see ALOT of setups on those timeframes. Is the risk for you greater on those timeframes?

Times of Your Life said...

nice trade there, very very nice.....

for the time frame,
I think its your preference and how comfortable you feel trading with that time frame.

>.< its a form of art hahahaha

Anonymous said...

Hey X, I was looking at buying the tradethemove.com manual. I know in years past they offered a holiday discount through your site. Is that valid this year?

Eric N.

bl said...

Yes thanks busystock.com. Tuesday 10 nasdaq stocks points up/dn with volume: sndk adbe amed fnsr itmn incy urbn idcc hans ovti. I don't need any more than that to keep out of trouble. CNN.com, nasdaq.com also. XLNX ATHR NKE Wed I bet. Cheers

Trader-X said...

Eric - I have an email to Kernan at TRADEthemove.com and will post when he responds.