The push from the technology sector wore off leaving nervousness and uncertainty on Wall Street. This negative sentiment coupled with the expected slowdown in activity during the summer period sets the stage for increased volatility and turbulence in the markets.
Do you park your assets and lay low? No. On the contrary, it’s time to change strategy and adopt a proactive approach. It is also prudent to find a professional and experienced trader to help you handle complex day trading. There are multiple strategies you can use to leverage choppy markets for a profit. The “Lock and Walk” is one strategy that has been proven to give good yields.
The first step is identifying the stock market index you wish to use for the trade, for example, the Nasdaq 100. Additionally, pinpoint the exchange-traded fund to target under the index. Under the Nasdaq 100, you can bet with two sister ProShares indices. These are the ProShares UltraShort QQQ QID in conjunction with the ProShares Ultra QQQ QLD exchange-traded funds. Ascertain the support and resistance levels and set your position. Tutorial videos available on youtube.com.
The buy side is just as important as the sell side here so take your time to establish a good position. The goal is to watch out for the slightest movement.
When the QLD support parameter is tested, watch the resistance and sell when the support breaks. Similarly, when the QID tests your set resistance level, watch the support and sell on the QID when the resistance breaks. Remember it is a day trade so take extra caution with the support parameter levels as well as the gains in basis points.
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