Going to write a book.... "The Fine Art of Resisting Profits in Trading" a skill that cannot be learned... should make a killing.
haha im sure everybody here could contribute a good chapter to that. i got stopped out of TWM yesterday too (after i bought at 114). my stops are prob tighter than yours though. kicking myself now of course.
I think a good way to practice staying power could be to trade very small and use the prior day's low/high as a stop... Then buildup from there. It is THE only way to have hope swing trading.. Some more successful Swingers even use 2 to 3 day reversals before closing positions..
This is a list of Short ETFs with decent volume and their performance this market leg down... A bit surprised QID is not that far behind TWM considering it's trading volume..
Meaning they wait for 2 or 3 days of lows being taken out to be convinced the run is over... I do it when a stock downticks..
I did rebuy TWM 120.9 and Shorted POT 75.9.. Watched POT run into the 78's and thought "here I go again".. Set cover at 70 and loss cover alerts on both... AND LEFT!!!
nice calls. how long you think you'd hold them. ie you already have a solid profit (as of the close Wednesday and AH) - how come not take profit today? are you looking at charts, or looking for even more bad news tomorrow?
There are some reports tomorrow and Friday that are probably been sold in advance as they are expected to be bad... DOW at the minimum should test 8200... These short ETFs simply bounce from one extreme to the other.... 140's possible as before on TWM.. http://www.nasdaq.com/asp/econodayframe.asp?page=http://www.nasdaq.com/econoday/index.html