UAUA will sell for scratch around 11.7 hopefully... Yesterday's daily bar quite a reliable indicator of a tired run..
Hopefully selling UYG 7.3 area, UWM 20.3 area -- TWM should be close to that 91 buy area... and I SHOULD do what needs to be done, even if a very small position to build confidence
Took small loss UWM, Sold UYG... Tried the perfection trade with TWM at 91.. didn't happen.. Though missed, the two daily bars side by side very nice from a swing trade standpoint...
Short RYL 19 TWM bringing back memories of the missed 15.15 UWM miss. Took microscopic position here at 99. Will take rest low 97's
I was wonder about the stops you set for the leveraged ETFs. Do you use your standard 2% to 3% loss limit, or do you increase it to offset the leverage volatility?
Should never be more than 3%.. most trades that get that bad were poorly entered... Ideally you stop should be just below a place (a previously defended price point -- 95 for TWM intraday today worked as it was defended yesterday and a few weeks back) that if broken means something.. SO 2 keys... enter at strong supports on a 5 min within a larger new uptrend... If you enter any other way you should buy so little a stop below the last defended area doesn't bother you or take more that x% from your account. Basically you are nullifying the volatility. Stops should be set so they are rarely hit.
i was impressed by your UAUA analysis - i trade it (primarily via options - short OTM calls) so I'll check in again & share thoughts as appropriate REGARDS