Since computer trading systems actually guide market price levels, a well known method of tracking stocks and ETFs is to follow support and resistance levels in the market. Support is a previously traded price level of a stock, ETF, commodity, or entire index that will hold that price level intact - in the past trading history of the security, that stock or ETF was traded and bought enough to hold that price level.
Common swing trading stock strategies try to capitalize on the trend changes between the support and resistance levels of a stock, such as in the SLV ETF chart above. Below is a marked up screen shot of my automated trading system which I use for timing both futures and ETF trading strategies.
Computers and computer trading software: many people are simply not aware that the new and improved professional computer software algorithms dictate stock price directions and levels.
To find a winning trading method, is to understand that you are tracking computer models and their outcomes. It is important because during a down trend the market makers and big money plays who have the money and tools to manipulate the markets will allow the market drift higher or they will run price up in overnight or premarket trading when volume is light. Trading in general is not hard to do, but creating, following, executing properly money and position management is. If you have trouble with following or creating an ETF trading strategy you can have my ETF trading system for rising, falling and sideways markets traded automatically in your trading account.
No responsibility can be accepted for losses that may result as a consequence of trading on the basis of this analysis. We recommend that independent professional advice is obtained before you make any investment or trading decisions.
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