Sounds Good Jon
Yes, I believe the biggest reason most trade the funds they do is that they are comfortable with them. I am still not comfortable with TNA/SPXU but am hopefully starting to get there.
Yes, I am probably wrong about the forgiving part, and might have it backward. What I was trying to relate was say a .25 stop set on IWM would be more forgiving than a .25 stop on TNA/SPXU. The higher leverage funds you need a wider stop and when it does hit the loss can be a higher percentage. Looking at IWM chart it does have some volatile swings and setting a stop for it would be just as difficult to adjust. I see in the Ibox you are at the point I am, not setting stops at times. I know in Oct I was constantly being stopped out. It did make for a terrible swing trade with SPXU in Nov though. I held the trade through a 2 week long vacation and was definitely glad I was not in front of the monitor to watch it, something like a 10k swing, Yikes.
Yes, right now 1-5 days is about where I would like to be with my trades, especially with the Market volatility. I would Love to catch a trend like Oct/Nov but for now my trades are short term. I think that has been some of my problem with missing the longer trends, that I only look short term? The Goal is to just replenish my IRA as I make withdrawals so whether it is short term or long term it doesn't really matter right now, as long as I can limit losses and keep some cash on hand.
Yes, I have looked at the SR60 chart and like what I see there.
I will especially be interested in how you view Holding a trade, either overnight or longer term. The Futures overnight moves often have me sitting on my hands and by the time the Market opens most of the move is over. That is unless the overnight move has hit a support reversal area like Friday morning and the day offers some relief rally.
Looking forward to your posts, Enjoy the Day!
Good Luck to All! :^)
PLAN the TRADE and TRADE the PLAN!
