March 23rd, 2020

At the close of the market March 23rd, 2020 we had no trade signals. As I have mentioned, we are also learning patience with this process of just using five symbols. We do not place trades just because we are getting impatient. We wait for a trigger. Basically, we are adhering to our process. The single most important element to successful trading/investing.

S&P 500: This index is well entrenched in a downtrend per our definition.

USD/EUR: This currency pair is also in a downtrend. As a pair where we have a base currency i.e. the USD is valued in EUR. To keep it simple when you are looking at a chart, If the price for the pair is rising it means the first currency in the pair is stronger than the second currency. If the price is declining , it means the second currency named in the pair is the stronger.

Gold: Looks like it is changing over to a downtrend. We don’t act on “looks like”, we made for our trigger and set up to complete.

Oil: Oil is in a full out downtrend. We will wait for a trigger before taking any action.

Bitcoin: also in a downtrend.

I am thinking about taking Bitcoin out of the rotation because there is no suitable proxy for it in the stock market. It means if we have a trigger, we cannot switch to a stock market symbol for demonstration purposes. Our five symbols cover a large swathe of the market, so I hesitate to make the change.

Leave a comment

Leave a Reply

%d bloggers like this: