GLD closed higher yesterday. As such, you did not take the second position in the trade. Likewise for the leveraged etf trade in UGL. Updated charts are posted below.
Our trading strategy is to scale in with up to three 3 trading positions, but we’ll patiently wait for the market to present the trading opportunities. Take a second trading position today should GLD close lower than our entry price – the same for UGL. All trades are at the market close. Please trade responsibly.
Otherwise, our exit signals are triggered when the etf price is greater than it’s MA(5), or – for a potentially larger gain – when the RSI(2) is greater than 70.
Join me everyday to follow these etf trading signals. All of the signals and strategies I use for etf trading are found in the book by Larry Connors: High Probability ETF Trading. His etf trading strategies have only a few rules and you’ll be able to back-test and apply the strategies to the next trading day. With easy to follow trading strategies, clear explanations, and years of tested results, there is no better place to start finding new trading edges than in High Probability ETF Trading. Get your copy today and be ready for the next trading session.
Disclaimer:The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a position in any company or advertiser referenced above. Any action that you take as a result of information, analysis, or advertisement on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions.
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Ok. GLD closed lower yesterday and you took your first position in the etf trade. For the leveraged etf trade, you took your first position in UGL. Updated charts are posted below.
Once we trade, we don’t always take just one trading position. There are times when we’ll scale in to the trade – sometimes up to 3 to 4 additional positions. And each position gets a bit larger than the previous position. Larry Connors has a great summary of these strategies which you can review here.
We’ll scale in with up to three 3 positions. So, take a second trading position should GLD close lower today – the same for UGL. All trades are at the market close. Please trade responsibly.
Otherwise, our exit signals are triggered when the etf price is greater than it’s MA(5), or – for a potentially larger gain – when the RSI(2) is greater than 70.
Join me everyday to follow these etf trading signals. All of the signals and strategies I use for etf trading are found in the book by Larry Connors: High Probability ETF Trading. His etf trading strategies have only a few rules and you’ll be able to back-test and apply the strategies to the next trading day. With easy to follow trading strategies, clear explanations, and years of tested results, there is no better place to start finding new trading edges than in High Probability ETF Trading. Get your copy today and be ready for the next trading session.
Disclaimer:The content on this site is provided as general information only and should not be taken as investment advice. All site content, including advertisements, shall not be construed as a recommendation to buy or sell any security or financial instrument, or to participate in any particular trading or investment strategy. The ideas expressed on this site are solely the opinions of the author(s) and do not necessarily represent the opinions of sponsors or firms affiliated with the author(s). The author may or may not have a position in any company or advertiser referenced above. Any action that you take as a result of information, analysis, or advertisement on this site is ultimately your responsibility. Consult your investment adviser before making any investment decisions.
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