tag:blogger.com,1999:blog-9459815.post8619158502939406929..comments2023-07-03T06:33:52.478-04:00Comments on Trader-X...views from a distorted mind.: NVLS - 011411Trader-Xhttp://www.blogger.com/profile/15148372813905710453noreply@blogger.comBlogger30125tag:blogger.com,1999:blog-9459815.post-43488527416711090392011-01-25T23:51:34.639-05:002011-01-25T23:51:34.639-05:00Ed, that's right....a break of the third bar h...Ed, that's right....a break of the third bar high. I was watching that level, but it went right on past it, thankfully.Melissanoreply@blogger.comtag:blogger.com,1999:blog-9459815.post-57630981052208277002011-01-25T09:14:03.424-05:002011-01-25T09:14:03.424-05:00Nice trade Melissa. Did you mean when it broke the...Nice trade Melissa. Did you mean when it broke the third bars high? The only thing to watch out for is a reversal at the morning's high which is resistance at this point. But if it breaks through, you are setup for a nice run as was the case here.Ed K.noreply@blogger.comtag:blogger.com,1999:blog-9459815.post-71631756403636896392011-01-24T22:17:01.631-05:002011-01-24T22:17:01.631-05:00Thank you for the advice, Taylor. It makes sense,...Thank you for the advice, Taylor. It makes sense, and I will take it to heart.<br /><br />Here is what I did today. I plotted the Fib lines as Taylor suggested (low of yesterday to high of today's open). Bought NVDA at the high of the 3rd bar after it gapped up and then pulled back to the halfway point between the high and 50% retracement with a hammer (although, again in retrospect, I maybe should have waited for a more "inside bar?"). Held until it crossed the 8 EMA around 24.85.<br /><br />Here is the chart:<br />http://i.imgur.com/4YMjt.gifMelissanoreply@blogger.comtag:blogger.com,1999:blog-9459815.post-9494620014584781532011-01-24T05:30:00.129-05:002011-01-24T05:30:00.129-05:00Melissa, just my .02. I try to avoid stocks that h...Melissa, just my .02. I try to avoid stocks that have some an erratic, wide range first bar. Price for the rest of the day tends to get caught in a range within that bar. Next, be careful shorting a gap up. You are going against the odds. It can be done successfully, but you will lost a large percentage of the time just due to the fact that you are shorting a strong stock. On the plus side, you did a great job recognizing the support at $43 and covering for a profit. Many experienced traders would have been stubborn and ignore that, and let a profit turn into a loss.<br /><br />If you are new, I suggest shorting gap downs on a pullback and going long gap ups on a pullback. Also, when you plot your fibonacci lines, try using price action from the previous day if you are using a longer-term (10 minute chart). It gives you more to work with. For example, over the previous day's low to the opening days 30-minute high. Experiment and see where the most setups appear for you.<br /><br />Again, just my .02!Taylornoreply@blogger.comtag:blogger.com,1999:blog-9459815.post-44932663900825698152011-01-23T23:32:12.861-05:002011-01-23T23:32:12.861-05:00Sorry guys....I got it all wrong. The stock was P...Sorry guys....I got it all wrong. The stock was PLCM, I shorted at 44.5 at the halfway point between the high and 50% retracement, and covered at 43. <br /><br />Joshua, I took your suggestion about imgur....let's see if this works. Here is a chart:<br /><br />http://i.imgur.com/X6k0P.gifMelissanoreply@blogger.comtag:blogger.com,1999:blog-9459815.post-25407425477807435992011-01-23T16:39:27.606-05:002011-01-23T16:39:27.606-05:00melissa, try using that imgur website that roger s...melissa, try using that imgur website that roger suggested. i think it would be neat if we can start getting some charts linked right in the comments.joshuahttps://www.blogger.com/profile/11987724627517363219noreply@blogger.comtag:blogger.com,1999:blog-9459815.post-57375421814315525802011-01-23T15:47:38.418-05:002011-01-23T15:47:38.418-05:00Hi Melissa, what was the stock/symbol for the trad...Hi Melissa, what was the stock/symbol for the trade you referenced?<br /><br />The tradethemove.com manual is nice, it opened my eyes. I consider that the undergraduate and X's blog the master degree in trading.Richardnoreply@blogger.comtag:blogger.com,1999:blog-9459815.post-76110703595180658622011-01-23T15:39:20.140-05:002011-01-23T15:39:20.140-05:00Thank you for the response, Joshua. Since I left ...Thank you for the response, Joshua. Since I left that comment, I discovered that feature in QuoteTracker. Duh!<br /><br />I purchased the Trade the Move manual and have spent the last few days reading all the charts and comments for the past two years. It's a lot to take in, but I placed my first trade on Friday based on my newfound knowledge (after months and months of losing). <br /><br />Let's see if I can get the wording right.....10 min chart, Fibonacci plotted over opening high and low (first 30 min). Shorted below the 50% retracement when support didn't hold. Covered at 42 when it didn't break through that level. In retrospect, I think I should have looked for a bearish candle to support the entry....maybe there was, but I'm just not sure. Hopefully I didn't just get lucky. Lol.<br /><br />At any rate, thanks to X, etc. for sharing their knowledge. I will keep on keeping on....Melissanoreply@blogger.comtag:blogger.com,1999:blog-9459815.post-41728955479176831672011-01-20T15:06:04.276-05:002011-01-20T15:06:04.276-05:00@melissa. your best bet is to ask here in the comm...@melissa. your best bet is to ask here in the comment section, no emails<br /><br />the fibonacci lines are automatically plotted using software such as quotetracker, ninjatrader, real tick, etc...what are you looking to do, plot the lines lines like X?joshuahttps://www.blogger.com/profile/11987724627517363219noreply@blogger.comtag:blogger.com,1999:blog-9459815.post-31007843300090255442011-01-20T12:05:44.704-05:002011-01-20T12:05:44.704-05:00Tom C,
Oops, sorry, man! WBS Fibs were from previ...Tom C,<br /><br />Oops, sorry, man! WBS Fibs were from previous day's close to current day's open, 5-min chart, 8 EMA on 1/18/11. Bar 10 is trigger bar. Bar 9 as trigger bar could have also provided a more aggressive entry, but I don't know how acceptable bar 9's candle pattern is to the criteria of the blog. Thanks, man! I appreciate your opinion!<br /><br /><br /><br />joshua,<br /><br />I'll create an id and check out Blogger this weekend, for sure. Thanks for the recco! And thanks for the honorary "THE" before my title, lol.<br /><br />Chips & SalsaAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-9459815.post-86381170000626236832011-01-20T05:58:45.262-05:002011-01-20T05:58:45.262-05:00I am looking for a link to trader X's e-mail s...I am looking for a link to trader X's e-mail so I can get the Fibonacci calculator. Does anyone know what it is or where I might find it? Thanks!Melissanoreply@blogger.comtag:blogger.com,1999:blog-9459815.post-38667726052405527422011-01-20T03:48:52.968-05:002011-01-20T03:48:52.968-05:00roger,
i never heard of that site. i just tried i...roger,<br /><br />i never heard of that site. i just tried it and it works fast. i think it will be a great idea for the comment section.<br /><br />joshuajoshuahttps://www.blogger.com/profile/11987724627517363219noreply@blogger.comtag:blogger.com,1999:blog-9459815.post-36313663877676071502011-01-20T03:18:46.344-05:002011-01-20T03:18:46.344-05:00Joshua and chips and salsa, you can upload your ch...Joshua and chips and salsa, you can upload your charts to imgur.com for free and post the links here.Rogernoreply@blogger.comtag:blogger.com,1999:blog-9459815.post-30594331535730851022011-01-20T03:06:00.220-05:002011-01-20T03:06:00.220-05:00C&S, on your WBS example, how are you plotting...C&S, on your WBS example, how are you plotting your Fib lines?<br /><br />Looking purely at the candle pattern,bars 7, 8, and 9 combined form a bullish setup. But I don't have any other context to evaluate it (ie, support and resistance).<br /><br />Let me know how your Fib lines were plotted.<br /><br />Tom C.Trader-Xhttps://www.blogger.com/profile/15148372813905710453noreply@blogger.comtag:blogger.com,1999:blog-9459815.post-64129118525676987632011-01-20T00:48:46.613-05:002011-01-20T00:48:46.613-05:00@chips and salsa... two things
first, please get ...@chips and salsa... two things<br /><br />first, please get a google or open id account, or click name, no more clicking anonymous. i want to see your name right at the top so i don't think it's some random person writing. i love your questions and comments but you are no longer anonymous, you are THE chips & salsa<br /><br />have you thought about putting your charts up on blogger? i'd gladly stop by and check out all those charts you mention in the comment section.joshuahttps://www.blogger.com/profile/11987724627517363219noreply@blogger.comtag:blogger.com,1999:blog-9459815.post-30965230148523379122011-01-19T18:29:57.527-05:002011-01-19T18:29:57.527-05:00X and Tom C,
I'd love to see what trades you ...X and Tom C,<br /><br />I'd love to see what trades you took today. The market's day-long downtrend should've been easy for me, but I just botched it. Oh well, live and learn. :\<br /><br />Any good set-ups you guys took?<br /><br />Chips & SalsaAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-9459815.post-12151037473653905812011-01-19T10:04:11.059-05:002011-01-19T10:04:11.059-05:00bl,
When I first started out, I waited 30 minutes...bl,<br /><br />When I first started out, I waited 30 minutes to an hour before entering any trades. I only traded 30-minute charts. After I was comfortable, I moved to 15-minute charts.<br /><br />Recently, I have been easing into 5-minute charts, only focusing on a single type of set-up, until I am fully confident with it.<br /><br />I no longer have any restrictions on start-time. I will take a trade as early as a valid set-up presents itself. But I'm certainly still in the learning phase of this type of trading. :D<br /><br />Chips & SalsaAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-9459815.post-7484674331398015372011-01-19T09:55:08.930-05:002011-01-19T09:55:08.930-05:00WBS on 1/18/11
Perfect example of what I was tryi...WBS on 1/18/11<br /><br />Perfect example of what I was trying to describe.<br /><br />5m chart, 10th bar<br /><br />It's the FIRST bar to cross the Fib Ext. That alone is NEVER a reason to trade, as Tom pointed out. In this case, though, the bar opened perfectly at/on top of the Fib Ext, closes at its high, is almost entirely green (small tail below), and is supported by the 8EMA directly under its low.<br /><br />(Warning: I run two charting software packages, and one shows a bad print on bar 11. The actual low of bar 11 is $22.21, just in case your chart shows the bad print of $22.00, which will also skew where the 8EMA rests beneath bar 10.)<br /><br />Is this type of trade just as consistent and dependable on the Beyond Fib Ext Set-Up? Or does a re-test/pullback to the Fib Ext yield higher probabilities of success?<br /><br />Thanks, fellas!<br /><br />Chips & SalsaAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-9459815.post-49121499110245685412011-01-18T22:03:03.788-05:002011-01-18T22:03:03.788-05:00Chips and Salsa,
Sorry, misread my chart. 11/5'...Chips and Salsa,<br />Sorry, misread my chart. 11/5' looks good-inverted hammer breaks the FE. Do you trade only after 30 min or 40min into the open??blhttps://www.blogger.com/profile/00896711870488137533noreply@blogger.comtag:blogger.com,1999:blog-9459815.post-87588356089639752132011-01-18T15:18:43.335-05:002011-01-18T15:18:43.335-05:00Tom,
Thanks, man. Sorry, I should have clarified....Tom,<br /><br />Thanks, man. Sorry, I should have clarified. I meant, assuming all other factors look solid, such as a 100% green bar as the first bar, its open price sitting directly on the Fib Ext with a rising 8 EMA beneath it. Something like that. Best to wait for a pullback anyway? (Granted, this is an ideal scenario, and I don't know how often first bars or inside bars set up like this, but I have seen them.)<br /><br />Chips & SalsaAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-9459815.post-31959045293843576912011-01-18T14:44:02.690-05:002011-01-18T14:44:02.690-05:00"Or do you ever execute against the very FIRS..."Or do you ever execute against the very FIRST bar to cross the Fib Ext without a re-test/pullback?"<br /><br />Speaking for X, it needs to be a valid candle setup not just a cross of a certain level. On a pullback/re-test, you tend to get a nice hammer or offsetting bar. But be careful buying on just a cross or break of a particular level.<br /><br />Tom C.Trader-Xhttps://www.blogger.com/profile/15148372813905710453noreply@blogger.comtag:blogger.com,1999:blog-9459815.post-44139965040423274762011-01-18T14:27:14.851-05:002011-01-18T14:27:14.851-05:00Sorry, I failed to sign my comment/question about ...Sorry, I failed to sign my comment/question about trigger bars for Beyond Fib Ext Set-Ups.<br /><br />Thanks for the help, as always! :D<br /><br />Chips & SalsaAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-9459815.post-75621251903688326072011-01-18T14:20:51.071-05:002011-01-18T14:20:51.071-05:00X,
Regarding the Beyond the Fib Ext Set-Up:
bl r...X,<br /><br />Regarding the Beyond the Fib Ext Set-Up:<br /><br />bl raises a great point about trigger bars, so I wanted to ask for your feedback.<br /><br />For any Beyond the Fib Ext Set-Up, do you always require a re-test of the Fib Ext after it is initially crossed? I.e., always requiring a pullback before considering an entry?<br /><br />Or do you ever execute against the very FIRST bar to cross the Fib Ext without a re-test/pullback? Do you ever execute against an adjacent inside bar that prints above the Fib Ext without a re-test/pullback having occurred?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-9459815.post-75224907304689075362011-01-18T01:51:27.530-05:002011-01-18T01:51:27.530-05:00@.@ really really nice trade...@.@ really really nice trade...Times of Your Lifehttps://www.blogger.com/profile/02342596487521305995noreply@blogger.comtag:blogger.com,1999:blog-9459815.post-90335862245267778702011-01-18T00:05:47.259-05:002011-01-18T00:05:47.259-05:00bl,
Really? ANR set up within the first hour. MCP...bl,<br /><br />Really? ANR set up within the first hour. MCP set up within the first two hours of the trading day.<br /><br />I guess it all depends on trading style and risk-tolerance. Probabilities can certainly decrease as the day wears on, but I've seen other readers posting successful trades at this time and much later (posts on 11/20, 12/09, 12/21, for example).<br /><br />I myself have taken trades as late as Noon Eastern and had more success than failure.<br /><br />But again, your strategies, rules, and experiences may be very different from mine, and I respect your point of view.<br /><br />Chips & SalsaAnonymousnoreply@blogger.com