Netpicks was founded back when the advent of online trading or day time trading was a fairly new idea. This company has set out to provide educational recourse to the modern online trader. Whether struggling with the details of futures or figuring out the best plan for stocks and options, this reputable online educator has a wealth of experience and skill to proffer the young trader and can greatly improve their chances of success.
This following article will highlight one of Netpicks time tested trading plans called the “Lock and Walk”. This has been proven effective when applied during the especially choppy seasons of trading. Even though, it is difficult to predict success based on past performance alone, understanding the principles behind the plan will lead to a greater understanding of trading as a whole.
The Lock and Walk was created to address both support and resistance levels in the Nasdaq 100 NDX, +144%. It is a fairly straight forward set of rules and can be applied by anyone with a basic knowledge of the market and how it works.
-If you see that the support is being tested by QLD, target the resistance for sale.
-If the support should break, the QLD should be sold.
-If the QID is testing the resistance, the target the support to be sold.
-If the resistance breaks, sell the QID.
That’s it and it’s all pretty simple if you have seen regular tech analysis in action. Remember that you buy close to support and sell when closer to resistance. It is time to stop out if the support is broken. For feedbacks, head over to this.
There is also an important rule to keep in mind about the “Lock and Walk”plan. Once the strategy has gained 67 points, it is designed to be shut down and applied again during the next trading session. So, you can see it is not useful for establishing a long term position. This is why it is so effective for application during the choppy summer months. For additional info, click this vimeo.com link.
Mark Soberman founded Netpick back in 1996 from a wealth of experience he had acquired over 25 years in the trading business. Since then the company has grown and now includes many more trading experts who offer their skills to helping others looking to win in the trading game. Visit their website here.
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