I saw ZipTraders video on YouTube titled "How to make $100 per day", and the chart was very simple.
So thought I would set it up for QQQ, add a short term MA, a BB for confirming reversals, and change the RSI to make it work for this ETF stock.
Strategy:
1. I look for the RSI to be either overbought, or oversold.
2. While RSI in that situation, I look for a peak to appear.
3. When the peak appears, then I check that the price has touched the upper or lower Bollinger.
4. If I'm unsure if the price is turning, then I check to see if the 3 day MA has flattened
5. I open the trade
6. I sell the trade as it approaches the overbought or oversold. (Unless I sell it early, due to losing faith in it, for other reasons)
Please note:
You can do this with stock. I'm using options, but I haven't used or refined this strategy yet. I'm planning to use only ETFs.
I have no connection with the people who make the video. However, this type of trading is the simplest out there.
So thought I would set it up for QQQ, add a short term MA, a BB for confirming reversals, and change the RSI to make it work for this ETF stock.
Strategy:
1. I look for the RSI to be either overbought, or oversold.
2. While RSI in that situation, I look for a peak to appear.
3. When the peak appears, then I check that the price has touched the upper or lower Bollinger.
4. If I'm unsure if the price is turning, then I check to see if the 3 day MA has flattened
5. I open the trade
6. I sell the trade as it approaches the overbought or oversold. (Unless I sell it early, due to losing faith in it, for other reasons)
Please note:
You can do this with stock. I'm using options, but I haven't used or refined this strategy yet. I'm planning to use only ETFs.
I have no connection with the people who make the video. However, this type of trading is the simplest out there.