Introduction
Evening T2W! Since we're half way through the year, I thought I'd post my progress and future trades to add some accountability to my actions. I've, quite honestly, been tremendously lucky in the recent market based on my assumption that forces beyond my control are keeping things fairly flat. To this end, I've tried repeatedly scalping the market using leveraged ETFs with a fair bit of success. I wanted to start posting because it seems as though the market (I'm speaking generically of the US S&P, even though I trade the triple leveraged small cap ETF--URTY.)
Strategy
Like I mentioned above, I've been trying to flip my ETF of choice repeatedly for profit. I started trading last year and my original strategy was to buy on low opening trading days and exit by close. I haven't been able to execute this well. On days where I'm down at close I roll my losses over and hope for recovery. This has forced me to hold positions in my leveraged ETF far longer than I'm comfortable with, but it has also gotten me used to executing not only day trades, but also longer swing trades. They do sometimes bite me, but I've been lucky enough (based on my assumption of a flat market) to recover eventually.
Rules
I have devised some new rules which I hope to play by:
I know these are not very specific, but they will hopefully mend well with my current system that prays on the sideways market. I'm cautious that up upward market would freeze me from wanting to enter, fearing immediate trend reversal.
Current Log
Here is my exported log as it currently stands. I had traded the short triple leveraged small cap SRTY last year with success, I just don't want to be on the wrong end of that trend this year--so I've depended completely on URTY as my trading mechanism.
Current log.
Future moves
You may notice that the last few months I've prayed on URTY bouncing in between low and high 90s. I'm comfortable doing so, for the time being, because I do not need to hit the highs and lows on the nose (as you'll certainly notice), I let the fact that it's a leveraged fund make that up for me.
Risk
This is the only area I know I'm not monitoring properly. Can someone tell me where I stand as far as risk? I know what I'm doing is probably very risky, but it's worked without a single losing trade. So how can I maintain the same level of performance while also lowering the foreseen risk?
Thanks for any input T2W might have! Happy trading!
Evening T2W! Since we're half way through the year, I thought I'd post my progress and future trades to add some accountability to my actions. I've, quite honestly, been tremendously lucky in the recent market based on my assumption that forces beyond my control are keeping things fairly flat. To this end, I've tried repeatedly scalping the market using leveraged ETFs with a fair bit of success. I wanted to start posting because it seems as though the market (I'm speaking generically of the US S&P, even though I trade the triple leveraged small cap ETF--URTY.)
Strategy
Like I mentioned above, I've been trying to flip my ETF of choice repeatedly for profit. I started trading last year and my original strategy was to buy on low opening trading days and exit by close. I haven't been able to execute this well. On days where I'm down at close I roll my losses over and hope for recovery. This has forced me to hold positions in my leveraged ETF far longer than I'm comfortable with, but it has also gotten me used to executing not only day trades, but also longer swing trades. They do sometimes bite me, but I've been lucky enough (based on my assumption of a flat market) to recover eventually.
Rules
I have devised some new rules which I hope to play by:
- Aim for 5% per month and do not get greedy.
- Trade with the trend only when it is long--avoid shorting.
- Assume the going theory is an upward trend toward recovery and hold to a swing position if up for the day or larger uptrends if recovering ground.
I know these are not very specific, but they will hopefully mend well with my current system that prays on the sideways market. I'm cautious that up upward market would freeze me from wanting to enter, fearing immediate trend reversal.
Current Log
Here is my exported log as it currently stands. I had traded the short triple leveraged small cap SRTY last year with success, I just don't want to be on the wrong end of that trend this year--so I've depended completely on URTY as my trading mechanism.
Current log.
Future moves
You may notice that the last few months I've prayed on URTY bouncing in between low and high 90s. I'm comfortable doing so, for the time being, because I do not need to hit the highs and lows on the nose (as you'll certainly notice), I let the fact that it's a leveraged fund make that up for me.
Risk
This is the only area I know I'm not monitoring properly. Can someone tell me where I stand as far as risk? I know what I'm doing is probably very risky, but it's worked without a single losing trade. So how can I maintain the same level of performance while also lowering the foreseen risk?
Thanks for any input T2W might have! Happy trading!
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