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Wednesday, April 17, 2024
One of the funnest strategies to trade: Where to next?
One of the funnest strategies to trade: Where to next?
Corona Del Mar, CA
Howdy Chris!
We'll talk about the markets and where they're going in just a minute.
It's rare that I have a blast trading a strategy.
I try to stay as unemotional as possible about these things.
But I have to say, trading this S&P 500 3X strategy is a hoot. It's like riding a rocket ship.
At a time when the market finally got a bit choppy, this bad boy has been back and forth between SPXL and SPXS.
It's like watching a tennis match between two titans.
Here it is catching the swings to the upside with SPXL...you can see it's on a buy (for now)..
Then it easily navigates the volatility as everyone started freaking out about WWIII. It just closed out a 6.2% gain in two days as stocks sank.
Yes, it's an global ETF mispricing strategy...
...and yes, it makes terrific use of limit orders to reduce slippage.
...but there's definitely something weird about it.
The stop loss.
It made me rethink some biases that I have.
Maybe I'll talk about that more another time.
But for now, yup, this strategy is on a tear...and it's on a very short-term buy signal for the S&P 500 at a time when fear is creeping into the markets.
Hope that helps.
Trade smart,
Dan "Prince of Proof" Murphy
Portfolio Boss, Inc.
260 Newport Center Dr, Suite 100 Newport Beach, CA 92660
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