It's a 2x short ETF, so it moves opposite the market. I made money on it Monday and should have sold it at the close. This morning I was just struck by the loss and didn't take action, thinking it would eventually come back, and I let it get worse. I did get out of it and buy some longs, but very late after taking a big loss. I'm new to this and not embarassed to admit I don't know much and am learning by doing it.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an alternative browser.
You should upgrade or use an alternative browser.
Rally, and rest of week
- Thread starter legend4life
- Start date
It's a 2x short ETF, so it moves opposite the market. I made money on it Monday and should have sold it at the close. This morning I was just struck by the loss and didn't take action, thinking it would eventually come back, and I let it get worse. I did get out of it and buy some longs, but very late after taking a big loss. I'm new to this and not embarassed to admit I don't know much and am learning by doing it.
Quote from legend4life:
It's a 2x short ETF, so it moves opposite the market. I made money on it Monday and should have sold it at the close. This morning I was just struck by the loss and didn't take action, thinking it would eventually come back, and I let it get worse. I did get out of it and buy some longs, but very late after taking a big loss. I'm new to this and not embarassed to admit I don't know much and am learning by doing it.
Not at all trying to give you a hard time, and I'm wrong in my analysis as much as the next guy. One of the differences is that I don't try to predict the future as seems SO popular here on ET.
Just pointing out some things from my perspective, and again, it's always so easy to go back and see it all in hindsight. And yep, I know it's a short fund and moves opposite the market. That doesn't change the price/volume analysis, though.
Keep at it, trade small, and you'll get it.
THAT"S FREAKIN HILARIOUS!
My analysis of the guy pegged him as some community college drop out. I nailed the profile!
My analysis of the guy pegged him as some community college drop out. I nailed the profile!
Quote from Ivanovich:
No, pretty sure Option Trad3r is poking fun. That IP shows somewhere far from where Stock Trad3r posts - and incidently he (ST) posts from a community college.
Quote from legend4life:
It's a 2x short ETF, so it moves opposite the market. I made money on it Monday and should have sold it at the close. This morning I was just struck by the loss and didn't take action, thinking it would eventually come back, and I let it get worse. I did get out of it and buy some longs, but very late after taking a big loss. I'm new to this and not embarassed to admit I don't know much and am learning by doing it.
My advice would be to use the unleveraged one. You may want to avoid leverage for now - and just go for small moves. Shorting on that monday was fine but remember that the market was already low so keep that in mind when holding overnight for the swing. You may want to take your profits faster.
Quote from Ivanovich:
No, pretty sure Option Trad3r is poking fun. That IP shows somewhere far from where Stock Trad3r posts - and incidently he (ST) posts from a community college.
A kid in community college - Ivan, that's fucking perfect!
My prediction to Bear about who this kid really is seems to be much more accurate than stock_turk3y's market analysis, LOL!
Think he'll disappear quitely now? My guess is, sadly, no.