SPX Trading The Pivots 30" charts & why use ETFs
Yesterday at the close we hit S4 and so without any stress or agonizing over it (can we go higher, is this the right level) I loaded up on SPXS, which I use because it is cheap so I can make a decent profit with sheer number of shares. During the night and this morning I checked the market and Alerts were going off we had reached S5, so again, no stress just trade the plan* So I took profits on the SPXS and since we were reversing to go up I bought TQQQ, again due to a cheap price so I can buy lots of shares.
Why not use the Futures? I have daytraded hundreds of thousands of times and when I daytrade Futures i watched the 1" and 3" and tick charts and overtraded, giving my Broker so much profit from the volume, and from having been a Trainer I know for a fact even Computer and Security Engineers can only maintain focus for so long (20 minutes of teaching and they are thinking about a snack or reading email). I don't care how great you think your focus nobody can stay focused watching 1" or tick or range charts for 7 hours.
Brokerages came up with "pattern daytrading" rules for a reason, to make more profit for them and make it harder for us to profit. I flipped the script on them, by trading ETFS I am forced not to overtrade. If you have been paying attention I have made about 8 or 10 trades in the last few weeks in the SP 500 room, all of them but 1 were winners (it was late in the day and they had been creating chap all day running up and down 6-10 points, sharply reversing, all day long and yes I wasn't focused to "took a small loss that a day later would have been a winner. This is nother reason you don't have to stress at all with this style of low stress high profit trading, because we see time and time again they revisit previous levels....
When I am in the room letting ya'll know what is happening realtime it is advice for daytraders there is not much to say about my trading style... I can set an alert at R4 and go back to bed now. I point this out because some people seem to be confused by my complex charts, I pay more to get a lot of information across 10 templates, which contributes as to why my calls are almost always correct, but I have started removing indicators so ya'll can see easier with less confusion... When i am talking in the room it is to share my gift of an ability to correctly tell you exactly what is happening, it annoys some that i am so often right, a form of jealousy, not my problem. I am only there to teach, which I love, and to help... my trading style doesn't require me to sit in front of charts all day I do it for fun and to help.
*1 buy at S4 or S5, sell at R4 or R5 (based on the chart and recent activity, rarely do we reach the 5 levels.
Why not use the Futures? I have daytraded hundreds of thousands of times and when I daytrade Futures i watched the 1" and 3" and tick charts and overtraded, giving my Broker so much profit from the volume, and from having been a Trainer I know for a fact even Computer and Security Engineers can only maintain focus for so long (20 minutes of teaching and they are thinking about a snack or reading email). I don't care how great you think your focus nobody can stay focused watching 1" or tick or range charts for 7 hours.
Brokerages came up with "pattern daytrading" rules for a reason, to make more profit for them and make it harder for us to profit. I flipped the script on them, by trading ETFS I am forced not to overtrade. If you have been paying attention I have made about 8 or 10 trades in the last few weeks in the SP 500 room, all of them but 1 were winners (it was late in the day and they had been creating chap all day running up and down 6-10 points, sharply reversing, all day long and yes I wasn't focused to "took a small loss that a day later would have been a winner. This is nother reason you don't have to stress at all with this style of low stress high profit trading, because we see time and time again they revisit previous levels....
When I am in the room letting ya'll know what is happening realtime it is advice for daytraders there is not much to say about my trading style... I can set an alert at R4 and go back to bed now. I point this out because some people seem to be confused by my complex charts, I pay more to get a lot of information across 10 templates, which contributes as to why my calls are almost always correct, but I have started removing indicators so ya'll can see easier with less confusion... When i am talking in the room it is to share my gift of an ability to correctly tell you exactly what is happening, it annoys some that i am so often right, a form of jealousy, not my problem. I am only there to teach, which I love, and to help... my trading style doesn't require me to sit in front of charts all day I do it for fun and to help.
*1 buy at S4 or S5, sell at R4 or R5 (based on the chart and recent activity, rarely do we reach the 5 levels.
Uwaga
i think i said SPXS when I meant TQQQ in the first sentance. SPXS is for buying at R4-R5 to short. I use TQQQ to go long, at S4 or S5, because the NASDAQ is more Bullish and TQQQ costs less than half of SPXL, tripple SPX.
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Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.