For the last few years I have been working on creating a system that will give reliable and consistent "BUY/SELL/SHORT" signals for daytrading. As we all know, daytrading is considered by many, the fastest way to make a small fortune out of a big fortune. I therefore wanted to create a system which will help belie that maxim.
I believe, that I have, just such a system.
Since my system is most reliable and consistent trading a very liquid security, I have found that trading the NASDAQ 100 TRUST (AMEX:QQQ), generated the best money making signals. Hence the system's name: FortuneQ™.
I do not claim that FortuneQ™ always gives a money making signal. But I do believe that if, a FortuneQ™ trade goes the wrong way, it will consistently generate a signal to close that trade with a minimum loss and thus help preserve a trader’s most important asset, his/her Capital. Also, in many instances, on a FortuneQ™ signal yielding positive result, it may give a signal to close a money making trade prematurely and thus leave a lot of potential profits on the table. The reason for this is that FortuneQ™ was designed to err on the side of caution and help keep a trader’s greed, in check. The best thing I can say about FortuneQ™ is that, since it is a mechanical system, it will help keep a daytrader's worst enemy, the emotional attachment to a trade, out of the trading equation.
To help prove FortuneQ™ as a Reliable and Consistent system in making money for daytraders , I will post, real-time BUY/SELL signals generated by it, daily on this thread.
Here is a primer on how I will post my BUY/SELL signals:
a) Since FortuneQ™ needs the markets to settle down
in the morning before it can generate a reliable money
making signal, I will therefore post the first
FortuneQ™ signal of the day after the
first ninety minutes of trading.
b) To help simplify the tracking of the daily profits or (losses)
from trading QQQ with FortuneQ™, all trades will be in a 1000 share block.
c) To maximize profits and minimize losses, it is
imperative that I keep the brokerage commission(s) as
low as possible. Since there are a few brokerage houses
that offer trades for about $10, I will subract 2¢/
share from all profitable trades or add 2¢/share to all
losing trades. (Brokerage commission: $10/1000 share
block = 1¢ * 2 trades for each roundtrip trade = 2¢)
d) FortuneQ™ generates trading signals both on the
long side and also on the short side.
e) Every day, FortuneQ™ generates between 1 and 4
roundtrip trading signal(s) and on very rare occasions, it
may not generate any signal. FortuneQ™ system
favors quality over quantity and tries to give a buy/sell
signal only when such a trade has the best potential of
generating a profit.
f) Any trade(s) initiated by FortuneQ™MUST
be closed that same day. No trade(s) can be carried over to
the next trading day. No Exceptions!
Since the only way to prove the reliability and consistency of a trading system to make money is by putting it to the test in a real-time trading environment, I will do just that with FortuneQ™ starting on September 10th. 2001.
So let’s see if FortuneQ™ brings me applause or egg on my face!?! :-)
OK FortuneQ™, it is time to strut your stuff...
Profitable Trading to All,
Disclaimer: This thread is only involved in an educational activity. As the originator of this message board, any information that I post here should not be construed, in any way, shape or form, as investment advice. I am NOT registered in any jurisdiction of the world as a securities broker, dealer or investment advisor. ANY and ALL material presented here is intended for general informational purpose only and should NOT be construed whatsoever as recommendations to buy or sell a stock at any time. A qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, should be consulted prior to the purchase or sale of any investment. I am NOT responsible to any person or company, for any losses, damages, costs or expenses (including, but not limited to, loss of profits, loss of use, direct, indirect, incidental or consequential damages) resulting from any errors in, omissions of or alterations to the information contained herein. I not responsible for any loss or damage whatsoever, whether incidental, special, indirect or consequential, in connection with, caused by or arising from any use of or reliance on the information contained herein.