ETF Trading – No New Trades for Friday
No new stock trading ideas were triggered yesterday afternoon.
We’re active in current trades as detailed in previous posts, and just waiting for exit signals to trigger.
All trades are based on the strategies found in the book by Larry Connors: High Probability ETF Trading, except where noted.
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Seth,
First of all – many thanks for dedicating your time to running a site on this subject. It is an interesting subject and your work is much appreciated.
I have questions re: the “intra day” entries. In the book – are there specific rules and guidelines as to when someone should take an intra day fill – or is it simplt left to the trader’s “gut feel” or intuition?
Wishing you much success with this strategy.
RBB
Thanks for the compliment!
Yes, Mr. Connors has several suggestions for making the intra-day trade. For example, you could enter the trade on a limit order that is X% less than the previous day’s closing price – X being any hurdle you establish. Realistically, that might be 2 – 5% less than the previous day’s closing price. Sometimes you’ll get it – sometimes you won’t.
Seth,
Re: the compliment – “no worries” – it is much deserved.
Thanks for your quick reply and for the info, as well.
Good luck with the trading this week.
RBB
Oh – I forgot to ask this before. I think I read somewhere that Trading Markets has a software package that keeps track of the etf’s and gives alerts when Connors’ conditions are met.
Are you using this program to keep track of your set ups and entry signals?
Thanks,
RBB
Yes, they do have a free trial of their own software package. I haven’t had the chance to give it a try just yet. I have been using a stock screener called StockFetcher.com. With StockFetcher.com, I simply apply the trading criteria specified in High Probability ETF Trading. I would like to compare the two different programs to see if they generate the same results – I imagine they should. Stay tuned – I hope to test the results in the next couple of weeks.
Thx. Will stay tuned …