02/12 – ETF Trading – No Trades Today
I have no trades to suggest today today. The stock market has moved into an overbought position (see the chart of SPY I’ve posted – the RSI(2) has moved above 75). We’ll patiently wait for the market to trigger our entry signals.
In the meantime, get a quick lesson on how to become a high probability trader in this article by Larry Connors. In it, he talks about his TPS strategy. TPS stands for Time, Price and Scale-in and has been the backbone of our ETF trading.
Discover all the details of TPS and other etf trading strategies 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. Take your ETF trading to the next level in High Probability ETF Trading. This new strategy book, complete with exact trading rules, is backed by over a decade of statistical results.
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Just discovered this website and have finished reading High Prob ETF trading. Very promising trading strategies. Looking forward to putting them through their paces. Are the ETFs mentioned in the book tracked on this website for potential trade opportunities?
I run all of the etfs listed in the book through my stock screener at http://www.stockfetcher.com. I choose the most promising etfs based on the priority of performance – see Chapter 1 in High Probability ETF Trading – the 10 rules of trading. Since country etf funds tend to “perform” better than sector etf funds, I review those trades more often – SPY being the country etf fund for the US. However, you’ve given me the idea to list everything that my stock screener spits out and let the readers decide which etf to trade.
I need to do a better of job of documenting all of the trades – in summary form. I got started with it last August, but never finished with the following months – call me lazy! You can see the summary of all the trades I suggested in the blog last August here – http://www.docstoc.com/docs/20640839/ETF-Trading-Aug-09.