Swing Trading for Stocks
In the video we review stock trading ideas for $BAC / NYSE (Bank of America Corporation) with the algorithmic trading application from UltraAlgo. Reviewing the 1-hour chart, the script delivered 14.46 profit factor with a profitability of 93.33%. This was executed over 15 trades with a net profit of $8750 and drawdown of $1060. Swing trading usually requires a position that lasts a few ticks in order to profit from a price movement. This can either be on focused on bullish or bearish (shorting) patterns. Day trading applies the same logic, but with a focus on closing the position within the same trading session. UltraAlgo was designed to address both short- and long-term trading pattern, which can be optimized by referencing historical trends.
The most important for a day trader is to follow a strategy consistently. In our videos series, we cover various day trading strategies, focus on improving your overall performance. Our algorithm is designed to simplify the processing of identifying patterns, allowing traders to identify opportunities to buy and short various securities. UltraAlgo delivers clear buy and short signals on any security listed across all major exchanges (NYSE, NASDAQ, CBOE, TSX, LSE), including forex and crypto. A free trial is available at no risk.
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