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etftalk
04-09-2009, 04:02 PM
Good luck wv-girl!

wv-girl
04-09-2009, 04:41 PM
Thanks Tom it is good to be here.

My Scottrade account is now set up and ready to trade. Have been watching FAZ and FAS to try and learn more about the 3x ETF's. I want to take some time to learn a little more before jumping in so I am exercising some patience. Right now FAZ is trading in the 13.90 - 14.12 range. I expect it to stay that way pretty much of the day. Dow can't seem to get much above 8,000, and S&P can't seem to get above 850ish or so. Zig-zag trading? Not so much for me anyway not yet.

Update 1:08 pm
FAZ is now at 13.38. Waiting until end of the day to decide if going in.

XL-entLady
04-09-2009, 06:19 PM
...
Update 1:08 pm
FAZ is now at 13.38. Waiting until end of the day to decide if going in.
Hi and welcome again. Be careful with FAZ, okay? It's not good for much but day trading. Several of us have been bitten badly by that one. :embarrest:

Lady

wv-girl
04-09-2009, 06:34 PM
Hi and welcome again. Be careful with FAZ, okay? It's not good for much but day trading. Several of us have been bitten badly by that one. :embarrest:

Lady
Thanks Lady. Been watching it and reading all of the other posts here. I think if I were to go in it would be for no more than 1 or 2 days max.
I have to learn how to set limits on my trades, so I am reading all I can from the info at Scottrade. :)

XL-entLady
04-09-2009, 07:16 PM
Thanks Lady. Been watching it and reading all of the other posts here. I think if I were to go in it would be for no more than 1 or 2 days max.
I have to learn how to set limits on my trades, so I am reading all I can from the info at Scottrade. :)
FWIW, if I don't have a reason to set a stop at a certain number, then I like to use a trailing stop set to a certain percentage, usually from 5% to 7% depending on the ETF. That's kind of my 'go to' way to set a loss limit. Other folks who are more adept at chart reading, like our fearless leader, know how to set a stop "under the previous day's low" or other ways that make sense from a charting perspective. I'm learning .... :bigsmile:

Lady

wv-girl
04-09-2009, 08:00 PM
Picked up FAZ @10.50

wv-girl
04-09-2009, 08:15 PM
FWIW, if I don't have a reason to set a stop at a certain number, then I like to use a trailing stop set to a certain percentage, usually from 5% to 7% depending on the ETF. That's kind of my 'go to' way to set a loss limit. Other folks who are more adept at chart reading, like our fearless leader, know how to set a stop "under the previous day's low" or other ways that make sense from a charting perspective. I'm learning .... :bigsmile:

Lady
Thanks Lady. Now that I have jumped in, I will be spending some time this week-end learning about all that stuff. I want to learn how to put a sell limit and what might be a fair price (if any). And how to get out quickly if it continues south. Actually, the trade executed for 10.49 but my buy limit was at 10.50. Keeping my fingers crossed for Monday.

Thanks again.

etftalk
04-10-2009, 02:58 AM
Picked up FAZ @10.50
That's unbelievable. It's down over 90% in just over a month. :huh:

Gumby
04-10-2009, 11:17 AM
Picked up FAZ @10.50

Hope you pick up a good bounce on this trade.:)

wv-girl
04-10-2009, 01:32 PM
Hope you pick up a good bounce on this trade.:)

Thanks Gumby. :)

wv-girl
04-13-2009, 02:15 PM
Picked up FAZ @10.50

Put in a trailing stop this am before leaving for work. It executed at 10.77 before I arrived. Should have sold on the pre-market. It would have sold for more. Still learning.

etftalk
04-13-2009, 02:51 PM
Booked a profit - Cool! It seems that stops on FAZ, or any of these 3X ETF's are sitting ducks. Just too volatile. Of course I would have saved myself several thousand if I had a stop on my old FAZ position. :rolleyes:

wv-girl
04-13-2009, 05:30 PM
Thanks Tom,
Looking at today's ride, I feel lucky to have gotten out unscathed let alone a small profit. Going to sit tight for now and watch when I can.

Debbie

wv-girl
04-14-2009, 07:44 PM
Go figure FAZ. I seem to be a day late this year on just about every thing I do. Note to myself. When you want to trade, wait a day. geez.:huh:

Uptrend
04-15-2009, 05:23 AM
I am thinking FAZ will take off. Next stop is $13.00, $18 by next week and $38-40 is a possibility in the near future. Planning to buy on the AM. Broad market is starting to fail.

justbizness45
04-15-2009, 01:04 PM
Agree, now is the time to buy FAZ. Looking for a 1 - 2 hold at the most.

wv-girl
07-15-2009, 01:54 AM
For anyone who is interested--
Inthemoneystocks.com has a free area and provides great analysis.

This one is well worth the read.

http://www.inthemoneystocks.com/n_rant_and_rave_blog.php

They also do intraday short videos in the free site using the same url.

Many might already know what he is discussing, but I felt it was worth sharing.

wv-girl