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Profitable ETF Trading Strategies – Start With the Basics

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 A good friend of mine, pissed off on the tempo of his progress, requested how he might achieve and preserve momentum on his private journey in direction of buying and selling mastery.

Listed below are my ideas:

I might begin with the day by day duties of buying and selling and get the procedural components down.

On the identical time, I might counsel weekly evaluations of trades and transferring averages of SQN slightly than streaks of day by day profitability.  Based mostly on the frequency of buying and selling, there aren’t sufficient trades in a day to be statistically important in an effort to say that there was one thing incorrect with the best way you might be buying and selling.

As an instance you had 4 days in a row the place the market had bounced off WilliamspercentR oversold ranges and was flowing upwards.

Suppose, then,  on the fifth day, the set ups that have been working effectively, now are marginal, and u end the day down -.5R, with “R” outlined as your unit of danger in {dollars} per commerce.

If you’re too strict on the day by day rulesets , you would be pondering you probably did one thing incorrect and wish to vary dramatically, whereas you might be simply inside the regular efficiency measures for that fashion

Having mentioned that, I’ll say that was a good suggestion for me to have day by day revenue targets to go hand in hand with the procedural targets.

My day by day targets are two-fold and are associated: commerce professionally AND earn money.

Evolving from these two targets, got here my concept for the bullets and feeding the canine first on a regular basis.  These 2 strategies truly help each targets.

They’re a disciplined algorithm for cash administration and so they additionally enhance the likelihood of assembly my day by day objective of feeding the bulldog.

I might suggest that you’ve got a day by day log sheet of trades taken, and why,  and grade them together with a day by day R web, and a day by day $ web.

You actually wish to be web optimistic for every week and a month as a objective, slightly than each single day, as a result of every week and month you now have sufficient trades, most likely, in an effort to look at efficiency statistically and systematically.

These are concepts that come from statistical course of management, the place a elementary precept is that you could have sufficient knowledge factors from a normal system to evaluate whether or not or not it’s in management.

Till you’ve sufficient knowledge factors and a managed system, you can’t fairly make adjustments, as a result of you haven’t established a baseline in an effort to proceed with evaluation for perception into trigger and impact.

So, the 12 duties of buying and selling, the debriefings, the commerce logs , the critiques of efficiency, all are designed to standardize your method in an effort to permit significant efficiency administration.

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Source by Ken Long

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