12/17 – ETF Trading – USO, UCO, FXI

Oil moved higher yesterday, and so did our etf trades in USO (and UCO). Our exit signals were triggered as the RSI(2) of the closing price moved above 70. We had a gain of .75% in USO, excluding trading costs. UCO broke even.

We took a third trading position in FXI as it moved lower yesterday. We’ll patiently wait for the market to correct and trigger our exit signals.

Our etf 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.

How do all of these trading signals work? Find out 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 signals, clear explanations, and years of tested results, there is no better place to start finding new trading edges than in High Probability ETF Trading – available at Amazon.com or save $10 at TradingMarkets.com.

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