Replies to post #17720 on Velocityshares 3X Inverse Natural Gas Etn (DGAZ)

[Sendme]

On a trade like this, where we are above a small trend line now, I am starting to scale out 80% at a target and let the rest ride at a break even.

OT I did that on TVIX with this same strategy, but moved my trailing stop up too tight, I have to be more flexible on stops.


https://invst.ly/6h1-s

[Sendme]

I think the set up is nice for a bounce here, but I am not ruling out some whipsawing around that purple 200 MA still. Will be more convinced once NG stays below 3.04 and DGAZ stays above it's long term trend line.





I was playing a gold etf last year and it was in a falling wedge similar to this and I thought for sure it was going to break to the upside and it took a dive one day below it and wiped me out while I was taking my daughter to school no doubt. Came home and my jaw hit the floor when I saw it.

I cut my losses on this yesterday. Only had a couple hundred shares. But just wasn't happy that I wasn't sticking to the charts. Gonna take a couple of days off and paper trade it like we did today and regroup once I get focused again. I let my emotions of fear of "not catching the bottom and missing on a run" get in my head.

It was great chatting with you guys today.

Have a great day all.