6-25-2015

Good Evening,

First, I'd like to thank you for taking the time to check out my blog. I've tried this before, but failed after just a couple posts. Hopefully I have more success with this one. This blog has multiple purposes for me. As every trader knows, you need to have rules and you have to stick to those rules. At times following those rules can be difficult, but posting my ideas here will help to keep me honest. Additionally, I simply enjoy hearing other people's feedback on trade ideas. To tell the truth I don't put any stake in what anyone else says, but a discussion is always fun.

My strategy is purely technical. But I typically dont care about Fibs or trend lines or whatever. To me it seems those techniques are violated easily and force you to miss out on some profitable trades. I use a combination of technical indicators that work for me. However, I intend to only give suggestions on any positions I am in or should be in considering what my indicators are telling me.

I try to only trade a few of the large ETF's, and occasionally an individual stock. My favorite and most profitable indicators have been SPY, QQQ, and IWM. I will focus on these in this blog.

Okay, I'm tired of talking about me already. I can talk more about that later. Lets get to it.

SPY

I usually trade SPXL when trading the S&P 500. The strategy is pretty basic. If we're in an uptrend, buy the dips and dont short (typically). My indicators still say we're in an uptrend dispite the chop recently. I'm currently long SPXL at 90.16, with a sell stop at break even. I expect us to make all time highs before I close my position, but that isnt set in stone. My strategy consists mainly of setting your sell stops, and keep an eye on shorter time frames to determine your price target. In my case I like to use a daily chart for determining trend, and 15 minute to find my sell point when other conditions have been met. As of right now, the upper conditions have not been met, so we keep our sell stop at break even and wait. Keep it simple.

QQQ

I do not currently have a position in the Q's, but when I do I usually trade TQQQ.

IWM

I really enjoy trading IWM. Good action, exciting stuff. I use TNA for long positions on the Russel 2K. I entered a long position at 82.68 in TNA, and actually sold the position today at 10:30 when the sell conditions were met at 96.33. A gain of 16.51%. This does not necessarily make me bearish, but I will be waiting on the sidelines until an opportunity comes up.

 I'm sure this post needs work, but its a start. Please bear with me ;)

Thanks again for reading.

-TraderSchmo