Keeping it Simple

Here's a way of keeping things simple in these crazy markets. It's just a moving average crossover strategy that's been working pretty well lately. While a moving average crossover system is technically a "trend-following" approach, this is Day Trading! And as such, within a 5-minute time frame we can easily have a trend develop a few times within a week on this time frame. So, we're looking at a 5-minute chart using a 20- and 50-period Exponential Moving Average. We wait for the moving averages to cross, and then once price pulls back from that cross we initiate a trade in the trend direction.
The following chart is of QID. I actually meant to use a chart of QLD, but then discovered it was QID and just left it as such. It just shows that it can work whatever the issue is you choose to trade. Here I go back 5 days to show you where the entries were initiated.
Starting with October 28th:Things got choppy on the 28th, 31st, and 3rd. This IS an Ultra ETF in a volatile market environment, regular stocks might be a little more straightforward. More chop before the trend developsThe two EMA's are approaching and the trend might be decelerating. If the cross develops remember to wait for the pullback!