wv-girl's Account

Good luck wv-girl!

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.

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Originally Posted by wv-girl

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

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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

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Originally Posted by XL-entLady

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

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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. :)

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Originally Posted by wv-girl

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. :)

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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

Picked up FAZ @10.50

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Originally Posted by XL-entLady

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

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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.

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Originally Posted by wv-girl

Picked up FAZ @10.50

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That's unbelievable. It's down over 90% in just over a month. :huh:

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Originally Posted by wv-girl

Picked up FAZ @10.50

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

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Originally Posted by Gumby

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

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Thanks Gumby. :)

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Originally Posted by wv-girl

Picked up FAZ @10.50

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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.

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:

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

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:

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.

Agree, now is the time to buy FAZ. Looking for a 1 - 2 hold at the most.

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_ra..._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