08/10 – ETF Trading – XLE, DIG

Yesterday I mentioned that even the best of us can’t entirely remove human emotion from trading. But letting your emotions control you will lead to disaster. In a 3-part series, Larry Connors offers 9 Tips to Trading Without Emotion. Take a look – it’s certainly appropriate for a little self-analysis when trading in turbulent markets.

We’ll continue to wait for our etf exit signals to trigger. XLE closed higher yesterday, but not enough to trigger our exit signals.

Our etf exit signals are triggered when the etf price is greater than it’s 5 day moving average, or – for a potentially larger gain (or smaller loss) – when the RSI 2 is greater than 70. We’ll be using the latter.

Follow the signals for XLE when trading DIG. Updated charts are posted below. All trades are at the market close. Please trade responsibly!

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.

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Can’t make a trade? Let Warren Buffett manage your portfolio – AlphaClone

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