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TQQQ trade ideas

TQQQ Swing Strat , Long As per the TQQQ strat mentioned on prior ideas , today we closed with a solid entry signal and I entered long in the final 10 minutes of the day at: Entry $132.91 Stop at 127.77 Initial profit target set at 2R or $144.36. //////// Strategy Note/Loophole to reduce risk //////////// For this strategy , I take signals only on the close or within final 10 minutes. The main reason for this is to filter bad signals where we take back the ema's at some point but ultimately end up closing below the top ema, which is not a valid signal and we dont want too enter to early and be caught in this kind of situation. However , a problem with waiting for the close , sometimes , is that we might take back the ema's early in the day and follow through with a 6% move up (for example). Since the strategy requires the close to enter , you would have missed out on that initial 6% move .... Then, when we close WAY up , you will have a signal to get long but now since the trigger day had such a nice move up, your stop set under the lowest ema may be risking too much, even though the strategy requires it ... So, that's why I have added a pre-emptive day trade tactic to it. A day trade allows you to play the rally day and hopefully gain some early traction on profits. But, if you do enter it as swing, when you place your stop under the lowest ema or candle if applicable, you now have reduced your risk since you have some early realized profit to cushion you from your day trade . Today that is exactly what I did prior to entering as a swing trade at eod which provided a profit of 1.65% . We opened above the ema's so that right at open gave us permission to play early as a day trade and I entered around 6:40 with a 0.5% stop. I scaled out of half at 1.5R and used a trailing stop on the balance on 15M chart which stopped me out of balance a bit later in the day . ///////// Trade Setup and plan going forward //////////// The stop loss either gets placed under the lowest ema , or sometimes under the day's candle but only if the candle is lower than the lowest of the two ema's and it is your preference ( its a personal choice but I don't like to risk more than 5% on these trades though) The stop loss I set on this is VS the lowest ema) Stop loss is pre set and followed without question . Also , If we do get stopped out we wait for the next opportunity and we take it without hesitation. If successful , I will scale out of half the order at 2R which in this case is $ 144.36, I have preset a sell limit order for this too so it will not be missed . After I scale out of half, the next move is to use 21 EMA as a trailing stop on the balance .Personally, I like to have hard set stops slightly below the ema but you can also usually wait for a decisive close below thee 21 as another version that I know a fair bit of traders like to adopt . *Note the EMA's used here are 10 and 21 . ///////////// Additional Considerations ////////////// That's pretty much it :) but I have some final points . I like to scale out at 2R because based on historical testing , if/when there is a sideways and choppy year in the markets this tends to help us tend to get some breakeven results instead of losing liquidity 2015 was a great example of that when I back tested . I really try to keep the stops as tight as possibly while respecting the risk management rules because after that initial scale out we have a risk free trade which is important for my personal style . When the market is in a longer term sideways trend , if you still want to get active the tighter the stops the better because that will put your 2R sell point closer which of course creates a less risky trade for you .. Entry signals are when the market takes back the 10 and 21 emas after losing them in a pullback . The market needs to take back both ema's to validate a long signal but it can do so through out multiple trading days . Some days, the market will take back both moving averages in one move , these are the days when we can base our stop on low of candle instead of the lower ema if we wish.
NASDAQ:TQQQLong
by NAK1987
TQQQ reaching some Resistance (SHORT)Analysis based on long term trend lines and forming wedge. Moving averages starting to curl downward. Daily RSI is very high. Bought Put 11/5 dated 11/19 for $157.00. $2. No stop loss. In hindsight, it would probably be more advantageous to purchase a longer-dated put such as 1-month out, December 10th, and raised the price target close to the current share price, about $169, so that the risk of being out of the money at expiration is lower. The premium in that case would be more like $10. Loss due to theta decay would decrease. However, in that scenerio, a stop loss would be necessary due to the significantly higher premium. Also in that scenerio, it would be necessary to take into account the larger spread, about $0.50. Entry limit as close to the bid price as possible and wait for order to fill is a must. For the $2 put for 11/5 at $157, the spread was very small, about $0.02.
NASDAQ:TQQQShort
by bodeen88
TQQQ: "Following Fifteen" Trade Idea Discovered an extremely simply but promising Trade Idea looking at TQQQ. Currently working on a visual back test as time allows and looking for collaboration. Also putting together some automation in TradeStation. I've broken down October by the P/L and trade count (below), and have just the trade count going back to 1/1/2021 (will add later). Bad with math. For October: - 127.20-123.15 - 4.05: loss 405 118.36-122.11 + 3.75: win 375 121.75-124.61 + 2.86: win 286 - 125.10-120.72 - 4.38: loss 438 - 131.21-129.8 - 1.41: loss 141 127.62-128.62 + 1 : win 100 125.63-128.79 + 3.16: win 316 122.99-123.84 + .85 : win 85 - 126.25-124.98 - 1.27: loss 127 130.73-133.04 + 2.31: win 231 134.17-135.29 + 1.12: win 112 135.73-139.55 + 3.82: win 382 win -2,381 loss-1,111 NET PROFIT- 1,270 Have yet to optimize. No stops or targets.
NASDAQ:TQQQ
by l3loodred
TQQQ strat , will watch closely for a potential re entry . As my previous idea states I am going to share my re-entry on the TQQQ strat this time . There is some signs of bullish price action here and looks like we might pull off a wedge pop here soon . A wedge pop is when the price pulls back above the 10/21 ema's . Personally the entry will be when the price closes above the TQQQ stop will be vs the low of that candle and or the 21 ema . Usually whichever is less . There is another signal too and that's the 50 sma . Which is currently above the 10/21 . I suppose you could participate in both events maybe if you wanted to play it safer you could take a smaller weighted position on this first signal and a larger one on the 50 sma ? Anyways everyone's preferences are their own and its important to know yours to respect risk tolerances . will update if a position is taken , have set an alert above too ..
NASDAQ:TQQQ
by NAK1987
Sometimes the best position is no position . My Gameplan...We are in a confirmed downtrend now and I personally will eventually re-enter the market using the TQQQ . But regardless of your trading plan I think the main reason I decided to publish this one is to show that sometimes the best position is cash . I believe right now is one of those situations . I am now 95% cash . I love the TQQQ , it out preforms most stocks and it is one of my first extensively back tested names. I like to back test manually using TV's chart replay function. In the case of the TQQQ , I have back tested several strategies dating all the way back to 2011, a lot of manual back testing and excel entries but I love it and its good muscle memory practice . **With the TQQQ , you are betting on the market and not a company and it's a proven fact that the market likes to go up more than down :) Essentially, my TQQQ strategy, that I favor, is to start attempting longs after we take back either the 50 MA or 10/21 ema's , with tight stops too . Furthermore, after a market correction that puts me in a cash position, when I get the correct signals, I will actually use my whole account to enter TQQQ. Then, if successful, sell half at 2R and follow the rest up with a trailing stop off the 21 ema . My scaling out system is simplistic and could probably be made more efficient but this is one of my most cherished strategies because it is truly my own and I model my swing trading after the same methodology. Obsviously , there are lots of very similar moving average systems that work pretty well worth looking into , mine is based quite a bit off Oliver Kell's " wedge pops/wedge drops . He is the winner of the 2020 investing championship btw, wrote a great book worth reading too with some savvy terms for his own terminology of chart events/signals. But more to the point , I think that the TQQQ and or QQQ is a great tool for us to use to mange risk because when we lose the 21 Ema its time to get defensive and when we lose the 50 , even more so . This is for ALL our positions too, so even if you have no interest in trading the TQQQ , you can still use the market indexes to determine if you should be playing defense or maybe even going to cash. You should also know exactly what your risk management requires of you too with set rules written down and rehearsed for different market signals. No one needs to know what will happen tomorrow to be a profitable trader , and picking a bottom is a risky business . So for me , ill wait for the market to tell me when it wants to potentially start a new uptrend and then I will pounce with a tight stop . If that doesn't work I will repeat and repeat and repeat , until it does work. For me , what the QQQ and SPY are up to is the most important determining factor , everything else, like NEWS for example, is secondary and unnecessary for collecting profits or protecting your account . The most important thing , for me is what the market is telling us based on its moving averages and price structure . I normally don't post my TQQQ entries but I have decided that coming out of this correction as I attempt to long TQQQ I will share. For now , I will wait .
NASDAQ:TQQQ
by NAK1987
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