Here's what I made for covered call Excel spreadsheets.
S&P 500 Sector ETF Momentum Rankings
- Thread starter AndersenBands
- Start date
I came out with a stripped-down simplified trading system.
I narrowed down the selection with a 20-day. Got to be willing to sell ITM in down markets.
And I couldn't resist putting dual Awesome Oscillators on the chart.
I decided instead of trying make a profit on them coming up from the bottom I should try to make a profit on them after they have already come up from the bottom. Have 100-day MACD higher than the 50-day MACD and get in according to a favorable Awesome Oscillator and sell premium aggressively.
I went back to The Elite trading system because it's futile for me to try to buy low and sell high; the best that I can hope for is that the best stocks and ETFs available will stay stable long enough for me to get some covered calls assigned before they crash. No screeners needed; I put the stocks and ETFs with weekly options into watchlists and I see which ones have 100-day RSI of 55% or more.
I decided ETFs aren't worth buying and simplified the chart to make stock selection more of a no-brainer.
I thought The Elite trading system left too much to luck and I need a trading system that relies more on work and skill.
Sparks Fly trading system. I look for 9-day Percent R higher than -50 and 20-day Percent R lower than -50 and see if the Awesome Oscillator makes sense.
Sparks Fly trading system. I look for 9-day Percent R higher than -50 and 20-day Percent R lower than -50 and see if the Awesome Oscillator makes sense.
Instead of use the 5,34,34 and hope, I put in a 5,34,5 and trade by positive histogram. I subscribed to Barchart Premier again to eliminate a lot of work of looking a Percent Rs in a watchlist of stocks above $25 with weekly options.
Sometimes there are better bear opportunities than bull opportunities, so I started trading put diagonals again. The 5,34,34 does come in handy.
