Frequently Asked Questions

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FAQs

These are questions most frequently asked by members of the site. Please continue to check back as this list is updated often.

What is a market-on-close or limit-on-close order type?

When trading the TQQQ Trading Strategy, buys and sells occur using the closing price of the day. Although traders can simply execute a market order as close to the end of the day as possible, an easier way is to use a market-on-close (MOC) or limit-on-close (LOC) order.

An MOC and LOC are the same thing. Some brokers call them MOC and others call them an LOC. They both work exactly the same.

When an MOC is entered, you are telling your broker to buy (or sell) your shares at the closing price for the day. Your broker will automatically give you whatever the closing price is for the TQQQ.

Most brokers give traders access to MOC order types. If you don’t see it listed, call your broker to see if they are available.

My broker does not have an MOC or LOC order type. What should I do?

If your broker does not have the MOC or LOC order type option, then the alternative is to simply enter a trade as close to the end of the day as possible. This should get you as close to the closing price as possible.

How do I ensure the Green Bar Signal or Red Bar Signal is going to stay triggered at the close?

On rare occasions, the Green Bar or Red Bar will signal earlier in the day only to disappear later in the day. This simply means the share price of TQQQ had either a recovery or decline during the day which removed the signal.

In these cases, no trade should be made. The Green Bar or Red Bar must remain triggered into the close to be a valid signal.

Most days the signal will stay triggered. However, if it comes on and off, the solution is to watch the price action for the day and make sure the red line is going to close higher than the blue line (for a Green Bar buy). You can watch the first two numbers at the top of the indicator to the right of the grey controls. If the red number is a lot higher than the blue number, then the signal will stay on. If the numbers are close, then watch closely into the close and make a final decision at the last minute to buy.

For Red Bar Signals, you will be watching for the blue line to be lower than the red line. In other words, the blue numbers need to be higher than the red numbers. If they are far apart, then the Red Bar will stay triggered. If the numbers are close, there is a risk the Red Bar will disappear. Again, the solution is to watch the price action closer to the close of the day to decide if your shares should be sold or not.

Do I have to use TradingView?

No, I have now provided instructions on how to use any charting software package you want. As long as you have access to Full Stochastics you will be able to use the rules of the TQQQ Trading System to trade. You can read about how to do that here.

I work and follow the market all day. Can I trade this system by seeing what signals generated during the day and buy or sell the next day?

Yes you can. Originally the members site was designed around using real-time data and entering trades at the end of the day. However, I have now provided instructions on how to trade using end-of-day signals and buying at the open the next day. This means that real-time data is not required if you do not want to pay for that. To learn how to use the system by buying and selling the next day, please read this page.

Stay tuned as more FAQs will be added regularly.