Trader X Method Notes:

• Stocks that are "hot" or moving - usually in the form of gaps.
• Scans 15 and 30 min charts for each stock on his gap list every 15-minutes.
• Focus on the top 20-30 by volume.
• Stop is placed at the opposing high/low of the bar entered.
• Looks for stocks that are moving strongly, pause, and set-up with narrow range or inside bars.
• Asks three questions: 1. What did I see?, 2. What is the entry?, 3. What is the exit?
• Applies Fibonacci  using the previous day's high/low and the opening range low/high.
• Plots the 61.8, 50.0, and 38.2% retracements, and the 38.2% extension above/below the high/low.
• A traders job is to discard bad and mediocre setups and be left with only the best ones.
• Risk is increased buying below/selling above the OR high/low, and other areas of support/resistance.

• Unusually active, and very volatile, long or short with the trend.
• Clear trend followed by a retracement / consolidation / reversal candlestick pattern.
• Entry is made above the high or low of the consolidation.
• Stop loss goes on the opposite side of the consolidation.
• Trade with the trend, cut losses short, let profits run, manage risk.
• 30 min Charts.

• Most trade executions are set up in advance using trade triggers and market orders.
• Manually sets the stop loss once in a trade. Closes all positions before the close.
• EOD scan for high growth stocks, look for patterns and formations, build a focus list.
• Real time scan for strong movers - gaps, wide bar with volume.
• Let the trend take you out, trail your trades, do not anticipate tops or bottoms.
• Trades his system day in and day out.
• 30 min Charts.