So, I've been a bagholder of UGAZ since 2017! The last few weeks it started to creep up. I set my limit sell order at 122(which would make a small profit on my bagholding positions). Everytime it goes up then it comesback down. I've been disappointed for so long with this.
Then one day last week I checked my account and the order was executed. At that instance I knew it would run away. That was one of my scenarios in my head. But by now I'm too tired of holding this POS ETF. Of course, now it's at $156!
The ironic thing is I bought the underlying NG futures. I took a very small loss because I was trying to daytrade it even though I knew from the daily chart it would run. With futures even though you are right directionally, the intraday moves can be quite violent.
Then there's GLD and GC. I've made decent money on the initial run up from August lows. Then I bought again and kept holding because I'm busy with my new job, etc.
I should have put stops. It gave up all of its open profits and now down. But from a technical chart pattern there's still support at around 1200.
I think I put too much faith in chart patterns. I should have institute those exit rules and put actual stops in. Not think when I see it I'll exit it. Because when I do see it afterwork, the damages is already done. haha.
Then one day last week I checked my account and the order was executed. At that instance I knew it would run away. That was one of my scenarios in my head. But by now I'm too tired of holding this POS ETF. Of course, now it's at $156!
The ironic thing is I bought the underlying NG futures. I took a very small loss because I was trying to daytrade it even though I knew from the daily chart it would run. With futures even though you are right directionally, the intraday moves can be quite violent.
Then there's GLD and GC. I've made decent money on the initial run up from August lows. Then I bought again and kept holding because I'm busy with my new job, etc.
I should have put stops. It gave up all of its open profits and now down. But from a technical chart pattern there's still support at around 1200.
I think I put too much faith in chart patterns. I should have institute those exit rules and put actual stops in. Not think when I see it I'll exit it. Because when I do see it afterwork, the damages is already done. haha.
