Daytrading Ultrashort Financials Proshares (AMEX: SKF)
Posted on October 28th, 2008
Written by Richard
Posted in: N/A (old archives)
Blog reader Jeff can’t get enough of Ultrashort Financials Proshares (AMEX: SKF), so I’ve picked it again at his request. Lower-than-average volume gave us fewer bars than I’d like, and our rule about not getting in while the cycle-EMA touches the candle body kept us out of the initial run up. Oh well…. But, the simple system did take two stabs short in the afternoon, for two wins. Not bad!
The ability to adjust the chart levels, or make judgment calls about getting in on the second bar of a run, would have helped us grab more of the profit today, but I don’t want to do anything too complicated in the simple demonstration posts. It’s consistently profitable, which is more than I can say for most traders. Most people don’t understand that you need to get profitable first, and then try to fine tune stuff. Be smarter than most people, and you’ll be fine!
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© 2010 Richard Todd. I am not a financial advisor, and nothing on the site should be considered investment advice or actionable recommendations. I'm just an individual, saying what I think, and sharing my experiences.