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Re: Justbizness45's Account
Sold C position @ 2.95. Purchased 3/16 @ 1.95. First profit trade:nuts:!!
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Re: Justbizness45's Account
Quote:
Originally Posted by
justbizness45
Sold C position @ 2.95. Purchased 3/16 @ 1.95. First profit trade:nuts:!!
Congrats! Ch Ching, that there is a nice profit :)
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Re: Justbizness45's Account
Thanks JTH.:) I put the limit order in a few days ago and didn't expect it to run up so fast. It might have been smarter to put in a trailing stop but that probably would have triggered in the voltility. Made out ok but might have been able to do better. I'm still learning the ropes and glad I finally made a profit. Still holding SLV waiting for commodities to ramp up. :sick::embarrest:
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Re: Justbizness45's Account
Quote:
Originally Posted by
justbizness45
Sold C position @ 2.95. Purchased 3/16 @ 1.95. First profit trade:nuts:!!
You and Rod were all over that one. I was too chicken to play. Good for you!
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Re: Justbizness45's Account
Quote:
Originally Posted by
justbizness45
Sold C position @ 2.95. Purchased 3/16 @ 1.95. First profit trade:nuts:!!
Quote:
Originally Posted by
justbizness45
I put the limit order in a few days ago and didn't expect it to run up so fast. It might have been smarter to put in a trailing stop but that probably would have triggered in the voltility. Made out ok but might have been able to do better. I'm still learning the ropes and glad I finally made a profit.
Very nice job, my friend! I was being too much of a chicklet to buy C when you and Rod jumped in. You guys get a gold star!
I'm just in the beginning stages of learning whether to choose a limit order or a trailing stop for my safety net. But one thing that FAZ taught me is that on large positions I have to have a net of some kind because that ground is d***n hard! Paid some tuition to ETF University for that lesson! :toung:
Lady
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Re: Justbizness45's Account
Quote:
Originally Posted by
XL-entLady
Very nice job, my friend! I was being too much of a chicklet to buy C when you and Rod jumped in. You guys get a gold star!
I'm just in the beginning stages of learning whether to choose a limit order or a trailing stop for my safety net. But one thing that FAZ taught me is that on large positions I have to have a net of some kind because that ground is d***n hard! Paid some tuition to ETF University for that lesson! :toung:
Lady
Rod gets a double gold star, got in earlier than me.
I lost 40% on my first trade with ICO. :embarrest: ETFU is almost as expensive a my daughter's college.:eek:
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Re: Justbizness45's Account
Lady, I like the look of CVY right now. Thanks for sharing. I put in a limit order for it at 11.00. We will see if it fills.:rolleyes:
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Re: Justbizness45's Account
Quote:
Originally Posted by
justbizness45
Lady, I like the look of CVY right now. Thanks for sharing. I put in a limit order for it at 11.00. We will see if it fills.:rolleyes:
Good luck with it, my friend. :)
Lady
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Re: Justbizness45's Account
Quote:
Originally Posted by
XL-entLady
Good luck with it, my friend. :)
Lady
CVY trade didn't happen. My C trade hadn't closed so the new trade was rejected. Good news is I found what I am supposed to look at "Buying Power" amount not my account value. :embarrest: Maybe for the best, CVY went down on Friday.
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Re: Justbizness45's Account
Since I am still going long right now, or trying to and I already am in SLV. I was thinking of getting into some oil. A lot of you track and trade USO, does anyone follow UOY? It was up 2.9% on Friday vice 1.32% for USO. It is a smaller fund but the price is 1/10th of USO.
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Re: Justbizness45's Account
JB45: I'd be careful of ETF's trading less than 100K shares a day. Show-Me might be able to shed some light on this one. I know he was warning folks that some thinly traded ETF's may be discontinued. He had a list, I believe somewhere of these thinly traded ETF's that may be discontinued. USO has more volume and safer, a better one might be UCO up 2.68% Friday. Trade well!:bigsmile:
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Re: Justbizness45's Account
Quote:
Originally Posted by
Here$14U
JB45: I'd be careful of ETF's trading less than 100K shares a day. Show-Me might be able to shed some light on this one. I know he was warning folks that some thinly traded ETF's may be discontinued. He had a list, I believe somewhere of these thinly traded ETF's that may be discontinued. USO has more volume and safer, a better one might be UCO up 2.68% Friday. Trade well!:bigsmile:
I'm with 14U on that one, JB. One of my main weed-out criteria is the $100K avg. monthly volume threshold. I saw and copied for use that same Seeking Alpha article when it came out in January. It was Technobucks who posted the link in the Watch Out for these ETFs thread down below.
UOY is on the list. Take a look at this article.
http://seekingalpha.com/article/1181...lous-4-1-split
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Re: Justbizness45's Account
Thanks, Alevin, H14U, As a newb I have learned to ask before leaping. Great info.:bigsmile::bigsmile:
Just bought UCO @ 10.11
Still holding SLV @ 13.11
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Re: Justbizness45's Account
Put in a limit order for FAZ @ 19.30. We will see if it fills tomorrow. Still holding SLV and UCO. I think financials will turn bearish very soon and want to be in for the fun.
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Re: Justbizness45's Account
Quote:
Originally Posted by
justbizness45
Put in a limit order for FAZ @ 19.30. We will see if it fills tomorrow. Still holding SLV and UCO. I think financials will turn bearish very soon and want to be in for the fun.
FAZ order filled @ 18.73. I will probably hold it for awhile.
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Re: Justbizness45's Account
Put in a limit sell on my FAZ @ $20.50. I've got to start remembering to do that. I could have been out of it today as the high was $20.60 but I didn't set a sell limit.:embarrest: The 3X makes me nervous to stay in long term.:confused:
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Re: Justbizness45's Account
Quote:
Originally Posted by
justbizness45
Put in a limit sell on my FAZ @ $20.50. I've got to start remembering to do that. I could have been out of it today as the high was $20.60 but I didn't set a sell limit.:embarrest: The 3X makes me nervous to stay in long term.:confused:
First of all, my friend, thanks for your visit to my home and for the kind words!
I know what you mean about staying in FAZ, or any leveraged EFT for that matter. The fact that each day is a clean slate up or down, rather than having it be a simple compounding of the 1x ETF over time, is a different concept to wrap our heads around.
And I get the feeling that "FAZ" is going to become one of our MB family history words. You know ... those things that have added meaning to us because of a backstory? For the moment, it seems to be a learning opportunity for us all. :nuts:
Lady
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Re: Justbizness45's Account
Quote:
Originally Posted by
XL-entLady
First of all, my friend, thanks for your visit to my home and for the kind words!
I know what you mean about staying in FAZ, or any leveraged EFT for that matter. The fact that each day is a clean slate up or down, rather than having it be a simple compounding of the 1x ETF over time, is a different concept to wrap our heads around.
And I get the feeling that "FAZ" is going to become one of our MB family history words. You know ... those things that have added meaning to us because of a backstory? For the moment, it seems to be a learning opportunity for us all. :nuts:
Lady
I know what you mean. UCO is double leveraged, but the 3Xs with me not being able to trade at work, I need to be very careful. I want to minimize paying more tuition to ETF University.
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Re: Justbizness45's Account
Decision Moose stayed in gold for another week. Weekly commentary at the link:
http://decisionmoose.com/Moosecalls.html
I'll post on gold page also.
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Re: Justbizness45's Account
Changed my FAZ sell from 20.50 to 23.00. It is currently 22.50 premarket. I thought about going to 25.00 but decided to not get greedy. Bought at 18.73. UCO is getting killed and my SLV is also down early but both are long term position for me. :unsure:
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Re: Justbizness45's Account
I'm surprised silver and gold are not reacting better today. I guess the strength in the dollar is hurting them.
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Re: Justbizness45's Account
Quote:
Originally Posted by
etftalk
I'm surprised silver and gold are not reacting better today. I guess the strength in the dollar is hurting them.
I was surprised also at GLD/SLV. My FAZ did sell @ 23.00 today for 22.8% profit. UCO is down 19% from my purchase price so I am break even between the two. I will probably hold UCO until the dollar starts dropping. FAZ and UCO are both the wife's ROTH account.
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Re: Justbizness45's Account
Video on leveraged ETFs from Coolhand's TSPTalk thread. Must watch if trading leveraged ETFs.
http://www.tsptalk.com/mb/showthread.php?t=6317
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Re: Justbizness45's Account
Quote:
Originally Posted by
justbizness45
This also from his thread.
http://www.indexuniverse.com/section...y-returns.html
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Re: Justbizness45's Account
Quote:
Originally Posted by
justbizness45
This should work better:
http://www.youtube.com/watch?v=qEYW2CPWHYE&feature=related
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Re: Justbizness45's Account
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Re: Justbizness45's Account
Quote:
Originally Posted by
justbizness45
Thanks for spreading the news. I had heard the rumor this was coming but hadn't seen anything official until now.
Lady
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Re: Justbizness45's Account
Quote:
Originally Posted by
justbizness45
"If you were to assume that based on this cumulative return of the index, the bull fund would have experienced a 27% loss and the bear fund would've experienced a 27% gain, you would unfortunately be incorrect," wrote the company in the document. "In fact, for that time frame, the bull and bear funds returned -34.46% and 6.32%, respectively."
So, does that mean we should be shorting the bull fund (FAS) rather than buying the bear (FAZ)?
Actually, after listening to the videos about the daily compounding, it sounds like we should always be shorting the opposite fund with every trade during a volatile market. If you think financials are going down, short FAS. If you think they are going up, short the FAZ. At least until they change to monthly compounding.
Is there a flaw in my thinking?
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Re: Justbizness45's Account
I think this is so important, that I copied these last few threads over to the ETF trading forum... http://www.etftalk.com/forum/showthread.php?t=430
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Re: Justbizness45's Account
That's why I posted it. It explains a lot about why I have gotten my posterior kicked more often than not with the leveraged ETFs and I just got lucky with my last FAZ trade. I had a gross conceptual error in how they operate. It also tells me that holding a losing Bear Leveraged ETF is a poor choice in most cases. I will sell my UCO tomorrow and chalk it up to tuition to ETF University.:suspicious:
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Re: Justbizness45's Account
I have known how leveraged ETFs work and have always been leery of them. I will only use FAZ or FAS in a rapidly falling or rising market, and just hold for a few days.
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Re: Justbizness45's Account
Got out of UCO 2X leveraged today @ 9.33. Good day for oil so I only lost 8%. I was down a lot more yesterday. Learned my lesson on leveraged ETFs.:wacko:
Bought some F today on a long term hold. Putting it away and forgetting about it.
Thanks to everyone for all the good discussion.:)
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Re: Justbizness45's Account
Quote:
Originally Posted by
justbizness45
....Learned my lesson on leveraged ETFs.:wacko:
....Thanks to everyone for all the good discussion.:)
Boy, do I hear that! No leveraged ETFs for me either for a while. Got to learn to walk before I can run.
Thanks for hosting this discussion. :)
Lady
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Re: Justbizness45's Account
Quote:
Originally Posted by
XL-entLady
Got to learn to walk before I can run.Lady
More like running with scissors. :toung:
I never had plans on holding these ETFs for more than a few days. From now on I'll have to use stops, release quicker, and look for stronger opportunities.
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Re: Justbizness45's Account
Quote:
Originally Posted by
JTH
More like running with scissors. :toung:
I never had plans on holding these ETFs for more than a few days. From now on I'll have to use stops, release quicker, and look for stronger opportunities.
For me it's like taking the grandkids to the park, if I can't watch they can't go. I can't trade at work so these leveraged ETFs are only for use if I am not working, which seems like never..:nuts:
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Re: Justbizness45's Account
Oscar's video today, the market's going UP!!:nuts:
http://www.youtube.com/watch?v=i46gxnIDfRI
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Re: Justbizness45's Account
Quote:
Originally Posted by
justbizness45
Got out of UCO 2X leveraged today @ 9.33. Good day for oil so I only lost 8%. I was down a lot more yesterday. Learned my lesson on leveraged ETFs.:wacko:
Bought some F today on a long term hold. Putting it away and forgetting about it.
Thanks to everyone for all the good discussion.:)
Well so much for putting away and forgetting about it. Buy price was 2.90. Today it hit 4.00 and I didn't have a stop in. :embarrest: 26% up at close I guess I am going to sell. I didn't expect this much this fast, but I am not going to look a gift horse in the mouth, sooo put in a sell order for 3.70. I may revise it in the A.M. depending on the futures.
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Re: Justbizness45's Account
Put in a buy order for dbb @ 13.80. Sell order for F is in @ 3.65.
Still holding SLV.
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Re: Justbizness45's Account
Quote:
Originally Posted by
justbizness45
Put in a buy order for dbb @ 13.80. Sell order for F is in @ 3.65.
Still holding SLV.
Too high a percentage tied up in SLV. Placed a sell for half @ 12.00
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Re: Justbizness45's Account
Final stats from this mornings orders:
F sale closed @ 3.65 (+25.8%) bought @ 2.90
Bought DBB @ 13.65
Sold 50% of my SLV @ 12.00 (-8.5%) bought @ 13.11