regarding your post of several days past......if you haven't
been stopped out of SMG, UCO and DFT, my guess is your
positions are in the red quite a bit.
why i've learned to do to avoid that scenario is to only enter a
long position after the indices retest support , such as SPX
recently selling off to 1070.
this way you use a stop if the markets fail.....you will miss
out on ample number of pops, but the upside is you (1)will be
protecting your trading capital and (2) you dont put yourself into
"hope" posture in trying to solve your open losses.
for the new fellow learning to trade....
Posted by jimsava on 19th of Aug 2010 at 12:17 pm
regarding your post of several days past......if you haven't been stopped out of SMG, UCO and DFT, my guess is your positions are in the red quite a bit.
why i've learned to do to avoid that scenario is to only enter a long position after the indices retest support , such as SPX recently selling off to 1070.
this way you use a stop if the markets fail.....you will miss out on ample number of pops, but the upside is you (1)will be protecting your trading capital and (2) you dont put yourself into "hope" posture in trying to solve your open losses.
i found this to be a great way to learn, imho
Very good advice. Thank you.
Posted by darnelds on 19th of Aug 2010 at 12:34 pm
Very good advice. Thank you.