Another one of my short term bearish indicators went off and I just added another 30 contracts to my existing holdings. I now have 50 contracts of the QQQQ Apr 44 puts (QQQPR) at a cost basis of $0.44. I'm leaving my stop at the current level of $0.35. In today's trading these options got as low as $0.36 today so I may be a little loose on executing that stop to let the trade play out for the day.
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Mark,
Can you share what types of indicators you use and how you apply them, or is that info proprietary?
Just curious.
Thanks.
I would say 80% of my q's trading direction methodology is based on standard indicators. I like to use a Linear Regression Trend Channel on a 15 day / 60min chart. This gives me overbought/oversold indications of when we are getting close to a short term direction change. I time my entry/exits on the Stochastic crossover (10,3,10) based on if we are near a top or bottom of the trend channel. The other 20% are proprietary indicators from other people I know for general market direction (however most of those are best for longer term position trading.) So when all of the indicators line up I invest big, when just the trend channel signals I invest small.