A recent article was made by Marketwatch.com about using a simple profiting strategy when it comes to a choppy summer trading. Due to the selloff of the technology sector during the early part of June 2017, the likelihood that the summer months will be a choppy market was more likely than ever. And thus, a proactive strategy is needed for choppy market situations. The “Lock and Walk” strategy is known to be profitable during these times. With this strategy, the resistance and support levels of the Nasdaq 100 NDX -0.05% are respected. Then, ProShares Ultra QQQ QLD -0.09% and ProShares UltraShort +0.00% are traded when the resistance and support levels are broken or tested. Using this strategy is used only during choppy market times and is not meant for a long time solution.
To apply these strategy rules yourself, do the following: Sell the target resistance when the QLD tests the support, sell QLD when support breaks, sell target support when QLD tests the resistance, and sell QID when resistance breaks. Also, another vital Lock and Walk strategy rule is to shut down and wait when there is a gain of 67 basic points and start the project again in the next trading session. Keep in mind, these strategy rules are only applicable for choppy market situations, and not meant to be long-term. Additional tips available here.
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