While investors considered the market unstoppable, the technology sector sell-off has since changed the sentiment drastically on Wall Street. The bullish and conceited attitude has been replaced by uncertainty and opened room for a choppy market.
Netpicks recommends the Lock and Walk strategy, a proactive plan to help take advantage of the situation and profit from a choppy market. Although past performance success does not guarantee future results, the approach has been profitable in such environments.
The Lock and Walk strategy is intended to observe support and resistance levels in the Nasdaq 100 NDX, +2.91% followed by trading ProShares UltraShort QQQ QID, -5.75% and the ProShares Ultra QQQ QLD, +5.65% after the support and the resistance levels have been tested or broken. If you apply the rules listed below, you can implement the strategy on your own.
- Where support is tested by QLD, target resistance to sell.
- Where support breaks, sell QLD.
- In case resistance is tested by QID, target support to sell.
- Where resistance breaks, sell QID.
Anyone who uses technical analysis is familiar to the above rules, which merely entail buying near support, selling near resistance and stopping out if support breaks. What enables the Lock and Walk strategy to do well in a choppy market is an additional rule associated with it. If the market has 67 basis points in gains, the strategy is designed to shut down and wait until the start of the next trading session. Additional trading tips here.
Established in 1996, Netpicks is a company offering online trading education using various systems and strategies. It is based in Texas and has been providing tons of different trading services in stocks, futures, forex, and signals to help traders be successful in the markets. These include live training, automated trading, tutorials, online trading tips, and tactics. Read and learn from their tutorial blogs, visit their facebook.com page.
The founder and staff of Netpicks are professionals with experience in real trading. They have practical knowledge and skills regarding the highs and lows of trading and know what it entails to trade successfully. Their systems are designed to accommodate full-time, part-time and short duration traders and can help you start your trading journey. Start getting connected, click on netpicks.mykajabi.com.
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