For those open to scoring on defense, posted the chart below, suggesting to pick up RWM, the inverse Russell ETF (see post) .
RWM has gained almost 3% in two days…due to the Russell’s decline. (see below).
Game Plan…Bring stops down due to the gains… make it a trailing 3% stop for the time being, will protect gains.
still in. but may get stopped out today. thanks for your help
Per the inverse Russell…my position was taken out! The loss was a quarter of a percent.
If you are still in the position, that is a good deal.
Did this stopout for you chris? i bought in late 38.4 and have a stop @ 37.65. Thanks
Hi Chris – for some reason I did not get stopped out even though I set up a trailing stop at 3%. I need to check on this with schwab to see what happened. In any case should I sell ASAP or see what happens? My average price is probably close to 41 since I got ok early.
Close but not yet..yes would stay with it…Russell has to break the top of the trading range to be a different story IMO
Is it fair to assume you got stopped out of the RWM trade. If not would you stay with the trade at this point?
Chris…could you please copy me on that?
I will send you an email per your questions and give you a few thoughts.
Out of curiosity…
Im guessing trading is your full time work. Do you trade by yourself? Where are you located, CO?
How did u come about to trading? Did you slowly transition into it.
I am a developing part time (full time biotech, in San Diego) trader. Who took the long road to learning how to trade, and over the last 9months I’ve been a consistently profitable trader. I have an insatiable apetite when it comes to learning about the economy, the markets, and trading. Recently I,ve really been thinking seriously about moving to one of the ‘meccas’ of the trading world (chicago, NewYork).
I was wondering if you would give me your thoughts on what you think would be the best way of going about getting involved more in the trading world. Basically a If you were me scenario… and would like to trade full time and really get to a point to have enough capital and experience to ultimately trade independently and full time…
Appreciate any thoughts you’d like to share
Nice setup you called on the Rut. I picked up some TWM at the open yesterday and presently up 5%.
Thanks – ldo79