Lost half this year's profits bottomfishing... lessons learned

[Overnight]

...

Reminder sec considering limiting/restricting 2x 3x and inverses, likely will occur without advance notice so I want to scale asap

How could they do that without any advance notice? That seems completely wrong. Hell, even the CME gives a minimum 24-hour notice before some major change?

 

[Pkay]

swing trade equities. when I'm bored or have to stay home I day trade leveraged index ETFs.

Do you mind sharing the bare bones of your swing trading strategy?

 

[Pkay]

I use sell stop limit orders.

Yes re scaling any size because often there's midday or end of day reversals like today's eod runs up in inverses SDOW TZA etc.

It's more work, true, but it's one of my edges, alot of tiny trades, tight stops and re-entries with scaling. It's my biggest lesson learned in 21 years.

Back in 1999 I'd do just several 300 share trades at a time, with expensive stops. Now I give myself more chances to profit using tiny stops. My best recent day I was up 2k. Starting small then scaling

Thanks, learning plenty from you. I have a couple of questions if you don't mind:

1. How tiny are your stops and what criteria do you use to determine them?

2. How do you scale in and what determines when you do it?

Thanks.

 

[Pkay]

I've often done 20+ trades daily, I set up buy stop orders manually ahead of the open, plus more in-market

How do you determine which stocks to put the buy stop orders on? Is it via TA and if so, how? Many thanks.

 

[KCalhoun]

Do you mind sharing the bare bones of your swing trading strategy?

Sure.. see my TASC articles for details...

I initiate new trades by buying just $500 or so worth of shares for stocks and ETFs taking out 2day highs. So 20 shares of a $25 stock for example.

I scale in by doubling the position once it's gone up $2 or more. I scale out if it loses 2day lows. Timeframe roundtrips 3 to 15 days.

I primarily trade stocks and ETFs priced $15 - 40/share. All trades use ta price action patterns.

See also my dozens of free articles at equities.com for details:

https://www.equities.com/user/kencalhoun

 

[Pkay]

Sure.. see my TASC articles for details...

I initiate new trades by buying just $500 or so worth of shares for stocks and ETFs taking out 2day highs. So 20 shares of a $25 stock for example.

I scale in by doubling the position once it's gone up $2 or more. I scale out if it loses 2day lows. Timeframe roundtrips 3 to 15 days.

I primarily trade stocks and ETFs priced $15 - 40/share. All trades use ta price action patterns.

See also my dozens of free articles at equities.com for details:

https://www.equities.com/user/kencalhoun

Thank you, you've been really generous. Your articles on the Equities site look good. Are these the TASC articles you referred to?

 

[deaddog]

Do you mind sharing the bare bones of your swing trading strategy?

Bare Bones:

I buy stocks that are going up.
I keep them if they continue to advance.
I sell if they break their trend line.

I know it's old hat but I keep my losses small and let my winners run.

In March I sold some positions I had held since 2009.

 

[KCalhoun]

Thank you, you've been really generous. Your articles on the Equities site look good. Are these the TASC articles you referred to?

Hi, thx, no they're different articles, lots of work