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Creating a New Investment Portfolio: Omni
A step-by-step guide on creating an investment portfolio named 'Omni' with a Simple Moving Average crossover strategy focused on TQQQ, including a take profit strategy.
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Aurora
Hello. Would you like to create a new portfolio?
User
Create a portfolio called Omni with an initial value of $10,000
Aurora
What strategy would you like to implement in your portfolio named "Omni"? For example, you can specify conditions for buying or selling a particular stock or cryptocurrency.
User
I want a SMA crossover strategy on TQQQ. I want a take profit strategy, but no stop losses – I'm bullish on tech long-term and don't want to be stop lossed out. I also want to space out my buys and not go all-in at once.
Aurora
For the portfolio named "Omni" with an initial value of $10,000, we'll implement a Simple Moving Average (SMA) crossover strategy focused on TQQQ, which is a leveraged ETF tracking the Nasdaq-100. This strategy aims to capitalize on potential uptrends by buying when the short-term SMA crosses above the long-term SMA. Additionally, we'll include a take profit strategy to sell when the position reaches a certain profit percentage, while avoiding stop losses to align with your long-term bullish outlook on tech. We'll also space out the buys to avoid going all-in at once.
Here's the strategy:
- Buy Strategy: Buy $1,000 of TQQQ when the 50-day SMA crosses above the 200-day SMA, and ensure that at least 7 days have passed since the last purchase to space out the buys.
- Take Profit Strategy: Sell 20% of the position value in TQQQ when the position percent change is greater than 15%.
User
Change .15% to 15. That's affecting the results
Aurora
I’ve updated your "Omni" portfolio to reflect the corrected take profit condition of 15%. This portfolio employs a Simple Moving Average (SMA) crossover strategy on TQQQ, aligning with your bullish long-term outlook on technology. The strategy includes purchasing TQQQ when the 50-day SMA crosses above the 200-day SMA, ensuring that buys are spaced out by at least 7 days to avoid going all-in at once. Additionally, the take profit strategy will sell 20% of your TQQQ position once the position's percent change exceeds 15%, allowing you to secure profits without implementing stop losses.