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You are here: Home / ETFs / More Strategies for Entering and Exiting an ETF Position

More Strategies for Entering and Exiting an ETF Position

August 24, 2009 by Larry Connors

Recently, we looked at various ways to exit on the close when a set-up triggers. Today we’ll look at what to do when you can’t be there to enter or exit on the close.

The primary ETF strategy we focus on is a high probability strategy known as TPS. TPS was taught in our latest book High Probability ETF Trading, now in paperback, and is also taught in further depth in our TradingMarkets Swing Trading College, go to TradingMarkets.com to see more on our upcoming classes.

The TPS strategy has historically been correct from 84% to over 90% of the time in historical testing on a universe of over 100 ETFs going back more than a decade. The test results are based upon buying on the close and exiting on the close.

What happens if you can’t be there on the close? What happens if you can only place trades in the evening or before the market opens for the upcoming day?

The answer is that if that’s the way you trade, then you don’t need to change it. If you look at the historical test results using TPS, the open-to-open test results are a bit lower than the close-to-close. But not by much. Therefore, if you can’t be there on the close, you’ll trade on the next day’s open. After taking many trades trading like this, your results will likely not be much different than those who trade TPS on a close-to-close basis.

The key behind this is that you’re buying into the pullbacks and selling into strength. This is the single best quantified way I know of to trade ETFs and stocks and, as long as you are doing this, and using quantified results to guide you, you’re swing trading correctly.

The bottom line is if you can’t be there at the close, you can take the trade on the next day’s open.

With 80% winning ETF trades in the model portfolio from October 2008 – you too can realize this level of success with Larry Connors’ Daily Battle Plan.

Larry Connors is CEO and Founder of TradingMarkets.com and Connors Research.

Filed Under: ETFs, Recent, Trading Lessons, Trading Lessons Tagged With: entering ETF positions, ETF positions, ETFs, exchange traded funds, exiting ETF positions

About Larry Connors

Larry Connors has over 30 years in the financial markets industry. His opinions have been featured at the Wall Street Journal, Bloomberg, Dow Jones, & many others. For over 15 years, Larry Connors and now Connors Research has provided the highest-quality, data-driven research on trading for individual investors, hedge funds, proprietary trading firms, and bank trading desks around the world.

Larry has been published extensively, with titles like How Markets Really Work, Short Term Trading Strategies That Work, High Probability ETF Trading, and The Connors Research Trading Strategy Series including our latest Guidebook High Probability Trading with Multiple Up & Down Days.

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