By the time traders following Larry Connors’ Daily Battle Plan were taking positions in the ^QQQQ^ at the beginning of the week, the QQQQ was not just oversold – it was very, very oversold.
And as far as high probability traders are concerned, that’s just the way it should be.
Wrote Larry Connors, founder and CEO of TradingMarkets:
“It’s not often when we get a chance to scale-in to a major country fund whose 2-period RSI is under 3. Historically, these have been rare yet extremely high probability trades and this one in the Q’s played itself out as would be expected.”
Tuesday marked the 60th successful trade in Larry Connors’ Daily Battle Plan. Traders who took long positions in the very oversold QQQQ on Monday’s close were able to take profits in the trade just one day later as the ETF soared higher in reaction to multiple days of oversold conditions above the 200-day moving average.
This is what the high probability trading of Larry Connors’ Daily Battle Plan is all about: being in the right place at the right time with the right strategy. With an accuracy rate of 80% since inception two years ago this week, Larry Connors’ Daily Battle Plan has been a consistent way for traders to successfully buy markets that are oversold and sell markets that are overbought over and over again.
Added Larry in a note to traders this morning: “Even though I’ve been teaching this strategy for over two years, it still amazes me just how powerful yet simple this concept is.”
Quantified, systematic trading is the hallmark of Larry Connors’ Daily Battle Plan. Every morning before trading begins, traders following along with the Battle Plan get Larry’s market preview (the “Morning Market Intelligence” report), charts of interest and a Plan of Attack that lets traders know exactly where to look for the biggest quantified edges in the market that day.
As an added bonus, the Battle Plan also includes the highest and lowest rated exchange-traded funds (ETFs) for the day based on our powerful PowerRatings analysis. The highest rated ETFs based on our PowerRatings analysis have made significant short term gains more than 78% of the time in our historic testing involving thousands of simulated ETF trades.
If you’ve been looking for a way to add objective, data-driven trading strategies to your short term trading – especially in exchange-traded funds – then why not give Larry Connors’ Daily Battle Plan a try? A free, one-week trial to the Daily Battle Plan provides access not only to Larry’s pre-market analysis and trading set-ups, but also to a Model Portfolio of trades extending back to inception in October 2008 – including written and audio commentary from Larry himself on every single set-up.
To find out more – and to launch your free, 7-day trial to Larry Connors’ Daily Battle Plan – click here today.
David Penn is Editor in Chief at TradingMarkets.com.