Trading Index Futures Based on Technical Analysis
- Thread starter expiated
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Friday / April 10, 2020
From my perspective, the prudent thing to have done here would have been to convert to cash given that anything could happen over the weekend. If the index futures gap up with the resumption of trading next week, so be it. From what I understand, the fear of missing out is not a sound principle upon which a trader ought to be basing his or her decisions
I just looked at my previous posts on Page 1 and found that several of them lacked usefulness because they did not provide context. I recall that all of my interpretations of price action panned out, but this is not clear just from reading the texts. Consequently, going forward I plan to include an image with each entry I post.
From my perspective, the prudent thing to have done here would have been to convert to cash given that anything could happen over the weekend. If the index futures gap up with the resumption of trading next week, so be it. From what I understand, the fear of missing out is not a sound principle upon which a trader ought to be basing his or her decisions
I just looked at my previous posts on Page 1 and found that several of them lacked usefulness because they did not provide context. I recall that all of my interpretations of price action panned out, but this is not clear just from reading the texts. Consequently, going forward I plan to include an image with each entry I post.
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It appears to me that my numbers are working out just fine, so I'm going to start looking at individual stocks now and see if I can't remember what I was doing back in 2019. My new "Change of Bias" level for the Dow Futures, which switched from bearish back to bullish about seven hours ago, is now at 23704.
The only stock out of the entire equity market that registered a buy signal for me (provided I'm not mistaken about the stock filter I'm using) was TDOC...
The only stock out of the entire equity market that registered a buy signal for me (provided I'm not mistaken about the stock filter I'm using) was TDOC...
It's interesting to me to read ideas stemming from trading based on fundamentals. It kind of reinforces how technical analysis is the way to go for me. My desire is to walk away from trading with a little bit of additional change in my pockets every single day, but I'm reading how what the market is doing right now makes no sense fundamentally, giving reason for such traders to remain on the sidelines at least for the time being. Personally, I prefer to just accept that the market is going to do whatever it wants to do and to simply enjoy going along for the ride.