ETF SWING & DAY TRADING

[husk]

hi husk,
what indicators made you go long on the 24?
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Hi da....I assume you are asking a serious question..not setting up a means to trap me later on....it's a sad state of affairs when one has to even ask such a question.

Because of the condition of the internet, I normally do not reply to questions of this sort...but will give you some general rules that have worked for me pretty well for a number of years..I think I have used them pretty consistently for 7 years now.

I use HLC bars, instead of candles..easier to see decision points for me...also rsi, slow stochastics, and cci(20).

On the NDX, I use a 5ema. On the Nasi, I use a 4ema.

I try to be on the side of the 5ema of the NDX...that is the silver bullet for me. If the NASI is in the same direction, I will stay a day longer than otherwise..or give the position a little more chance.

I had taken a short at eod in Rydex fund on 3/21 even though Nasi was slightly positive, BECAUSE all 3 indicators were showing negative trend (in particular, slow stoch had rolled over)...and especially the 5ema on Ndx had been broken..I held that through the eod of day 3/23. On 3/24, the closing price was above the 5ema..the Nasi had been increasing over the past couple days, and the low of the cci(20) showed a higher low, to the 3/21 date, even though the prices were close to the same. In other words, the Ndx (5ema) made the call, backed up by the nasi and cci.

Hope this helps.

May I say that there are many similar things that works...the siggy developed by position trader with the help of many will work..I think the basic concept of staying on the correct side of a short term moving average on the Ndx..using the nasi as a confirmation, and certain indicators one is comfortable with, will probably be profitable with the exception of a trendless, sideways market.