Satuki @ Home

@erikig, All these 3X shares work the same way as other stocks. There is nothing special about them except volatility which I love.

Are you able to short these ETF's? I know most brokerage wont allow leverage with trading these ETF's.

Yes I could....

I'm extremely suspicious of these 3x etfs and deathly scared of their volatility especially on days that the market moves sideways.

@TraderMom: Do you know how they work (other than that they make awesome returns ; )?

@dianne: I strongly suggest creating your stop orders at the same time you enter a trade and never moving those stops (unless it is into profits). I'm still getting the hang of this but that has kept me from obliterating my capital.

Glad to see you opened a position in ERX today. I re-loaded on some energy stocks today and that gives me a bit of a technical confirmation on that. Here is a link to a blog I found today (think maybe it was a Google discussion on ERX - maybe you have seen it)

http://x3etfhell.blogspot.com/

I haven't had time to look at it yet but it looks like the person has put a lot of work into it. Let us know what you think of it. (Here I am trying to get someone else to do some of the work for me -- we old folks are like that).

I have decided for myself that if I trade these 2 or 3X ETF's again it will be as a day trade only. The gaps are frightening.

@Nancy, I can't close my other 2 positions. I must stick to my plan. I will definitely trade TNA if there is a set-up.

@ dianne , Cut those losers :). Seriously, you need to live to fight another day. Preserving your capital is more important than making money. I normally trade no more than 50k-60k at a time. I am just focusing on my executions now. I am pretty confident now that I can not lose money due to my rock sold risk management. But I still need to improve my trading for profits. Once I have full confidence in my trading, I will scale to bigger positions.

Hi! I ran across your site by accident... I am impressed and encouraged!
You are accomplishing exactly what I WANT to be able to do.
Unfortunately, I'm in the "learning the hard way" stage and am sitting on some big losses right now... I know you would probably say get out :) But it would kill me to watch them go up right after I got out, and I'm under $25000 now so I can't daytrade anymore, and would have to wait for things to settle etc.
So, for better or worst, I'm hanging on hoping that things will recover enough to get me back to $25000! (and I'm taking this time that I'm sitting around waiting, to learn more, so I hopefully can avoid being the same position again!)
I was wondering how much $$ you keep in your trading acct? I noticed you said your positions are usually around 10K and you don't seem to have more than 2 or 3 positions a day....

May be you should retry TNA tomrrow :)

Are you sure you don't want to close your other two open positions?