13 Dec A Nasdaq Breakout Strategy Created By a Human
A Nasdaq Breakout Strategy Created By a Human
Dec. 13, 2023
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A Quick Note About A.I.:
When I was posting my Newsletter this week, I got a prompt asking me to stop what I was doing and “Write with AI”.
And I literally laughed out loud.
According to multiple studies, the world is going through the worst mental health epidemic in human history.
The main cause? People feel disconnected. They feel lonely, lost, and hopeless.
And now I’m supposed to use AI instead of my own brain?
Here’s a question: How do I get better at writing if AI does all the writing?
Here’s another: How does an artificially-generated Newsletter increase connection and make the world better?
One more: What’s the purpose of NOT writing my own Newsletters? So I can make money while not doing any work?
If self-worth is created by deserving what we get, how does anyone improve their self-worth by trying to get rewards by doing no work?
The answers to all of these questions is obvious, of course.
And that’s why I will never use AI.
Just wanted to let you know. On to the Newsletter…
This week we’re looking at American Bollinger Band™ strategies.
Although, they’re not only for people in America.
In our last Newsletter, we saw a very good Band breakout method on the E Mini Dow Futures contract. Today, we’ll look at the Nasdaq.
Here are the details:
Mini Nasdaq (@NQ.D) 30-Minute Bollinger Band™ Breakout
- Long Only Entry: When price closes above the Upper Band (length 20, st dev 2/-2)
- Target: $1000 per contract
- Stop: $500 per contract
The NQ has a slightly different target and stop. Also, keep in mind that there is no end of day exits for these two methodologies.
Here are some recent trades in late 2023:
Some winner, some losers. The Nasdaq has been twitchy in the second half of this year.
Here’s the Report trading 1 contract each time:
And here’s the Curve:
Once again, a breakout strategy worked well on an index.
In our next Newsletter, I’ll have AI put together a detailed portfolio while I sit around in sweatpants eating Doritos.
Ah, the good life.
It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples presented on these sites are for educational purposes only. These set-ups are not solicitations of any order to buy or sell. The authors, the publisher, and all affiliates assume no responsibility for your trading results. There is a high degree of risk in trading.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY BEEN EXECUTED, THE RESULTS MAY HAVE UNDER- OR OVER-COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.