11/5 – ETF Trading – IWM, UWM, EWT, EWY

Markets closed a bit higher yesterday and triggered exit signals for EWT and EWY – unfortunately for us, at a loss. We lost 2.18% on EWT and we lost .66% on EWY.

Otherwise, we still have full trading positions for any of the remaining etfs we’ve been following for the past week and half – IWM, and UWM.

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; we’ve been using the latter. All trades are at the market close. Please trade responsibly!

Part of becoming a better trader is reviewing your etf trades. For EWT, we followed our trading signals precisely. Yet on a complete review of the trade, we would have be better served by not scaling into our position on 10/26 and 10/27 – the etf price dropped, but only by a penny on those days. Had we scaled into our second position on 10/28 and our third position on 10/30, our gain on the complete trade would have been 1.27% instead of a 2.18% loss. Consequently, the degree of price decline on the second and third trading position might be something to consider on your next trade.

Join me everyday to follow the 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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