FAS/FAZ for New Week 4/27

Quote from scot.mcpherson:

Well nice returns for your overnight hold. I could've closed my position, but I suspected a gap up on faz, but because of the late drop in price, I was wrong. I could have closed my position but I would have been out of hte market until next Monday if I had.
More...

"Pattern day trading" limitation?
 
Quote from scot.mcpherson:

Well nice returns for your overnight hold. I could've closed my position, but I suspected a gap up on faz, but because of the late drop in price, I was wrong. I could have closed my position but I would have been out of hte market until next Monday if I had.
More...

Yeah, ES hit 850 right at the close and bounced, so I took a 1/2 size in it.

It's like we've both said at times - when it closes weak, it gaps up the next day. Plus the above observation.

Kind of a gamble, but why not?

ETA: here is the perfect place to be conservative, and use the < 1x plan.

If FAZ was up some, you coulda preserved that gain by taking FAS and walking away.

Then today you coulda sold FAZ and held FAS for a little run up.
 
Well yes, I have 1 day trade right now, and would like to hold onto it unless I need an exit hatch from a bad position.

Oh what I would do for an angel investor/lender right now.


I just need $25k for 90 days to let me build my own basis, i'd be able and willing to return $30k at the end of 90 days.

Risk management is so much easier when you are a qualified day trader.


EDIT: I changed that to $30k
 
But, not to day trading. Why haven't I seen this tool before -- treating the FAS/FAZ combo like a straddle.
I've read 3 pages of posts, but have not been able to figure out exactly what you are doing. Are you holding both and varying the quantities, or just buying one side at a time, them immediately selling and buying the other??
If someone would be so kind as to tell me the basic movements you're all making, I would like to be on the same page and grateful. Thanks.
 
Daytrading.

Buy one or the other.

The only talk about owning both at the same time would be if you have only 1 day trade left, and don't want to use it up to get out of your position.
 
You must log in or register to reply here.
Back
Top