Bought SDS @ 69.71
Bought SDS @ 69.71
Candlestick crack addict...
Bought SLW @ 7.68
Candlestick crack addict...
I'm position sizing now, which means I'm trading a slimer profit margin for safety. The truth is I don't have enough buying power to make the big moves that make a difference.
My 3 biggest mistakes this year.
1. Selling too quickly: Simular to what Upreand and others have said. I've owned stocks that have doubled and tripled, just weeks after I sold them.
2. Not hedging: I should use my TSP to hedge when I'm being proven wrong by going short.
3. Position sizing: My 1st postion in FAZ was a big hit. But the real mistake was the postion size.
I'm still a bear and will stay short below the S&P 500's 875.63
My SDS has a mental stop of 64.00
FAZ just bounced off 1 pennie higher than its 52 week low of 8.50 My stop on FAZ is just a few pennies below that.
My SLW gapped up this morning, my stop is @ 7.20
Candlestick crack addict...
FRACK!!!
I just got stopped out of FAZ
Candlestick crack addict...
Could be my risk tolerance, but when entering FAZ I do not use a stop, because it swings wildly. It's not like the ETF is going to fail tomorrow, geez we are in a full blown recession/depression. I try to time the FAZ uptrend with the market downtrend. Looks good now with the upcoming bank stress test uncertianity. Just saw a report tonight that suggests that Citi and BOA need more capitol. I am planning to hold FAZ until about spx 875, and I will fine tune with the FAZ chart and BKX as we go along. Thinking 1-2 week trade. Very exciting! IMO, it's the best trade out there and still a screaming buy. Some say trading FAZ is un-american, but I say you fool CEO's got yourself into this mess, so I might as well have a few pennies.
JTH, are you buying SLW because you believe that commodities will continue to lead this next cyclical bull or is this just a one week fling?
"Don't let your highs get too high and don't let your lows get too low." Bullitt’s Market Blog
I hear ya there UpTrend, but heck my timing and lack of patience kill me more than my stops do. I placed a 8.35 stop on that trade because I figured that if it blew through that stop then we'd be going down to a lower trading range. Well I was wrong, although we did dip down into the 7s we did manage to get back up into the 9s. I'm done with FAZ (for now.)
The truth is I shouldn't be trading FAZ/FAS because it's not something I believe in. We're entering a new era of government intervention/regulation and the only way I can vote against it, is to vote with my money...
Candlestick crack addict...