Starting Balance: 5000
Current Account Balance: 5166
Current BP: 30,996
Date: 4/1/16
This is a watchlist that lays out what my current watches are for ETFs. These are long-term watches as its to be day traded.
Current Daily goal is $100 profit per day. But more importantly it is for winning trades over losing trades. Consistency is key to establishing if long-term profitability is achievable.
$TNA - $TNA So far is my favorite, it has great range and trends very predictably. I'm looking for trade 100-200 shares at a time, almost no overnight holds if possible and I'm looking to pull a minimum of $.20 per share to cover commission + a minor profit to $1+ if it is considerably in my favor. My middleground for this stock is about 30-50 cents a share.
$NUGT - $NUGT may quickly become my favorite ETF to trade, it has quick and large range, if I can learn to understand its patterns and a good charting strategy to lock in good entry points I can easily pull a decent profit from this each day. For now, on consolidation and low range days of $TNA, I will be turning to NUGT for my profit goal.
$TZA - $TZA is the Inverse of $TNA for when the S&P500 is going south (Bear) I have not had any major success with this and try to avoid trading it often as the ranges are smaller. However this could be a good opportunity for traders with large volume looking to pull 10-20 cents out of the trade quickly.
$DUST - $DUST is a cheap ETF, it can range between 10-50 cents in the day, with the volatility of gold, this BEAR ETF can give you a more steady longterm position. Since it is cheap, taking out 1000 shares can easily net you a good return. However, it is important to consider that it can also easily net you a loss.
XIV/TVIX I have not done enough research to provide a synopsis and have not traded them yet as well.
I'll keep this updated as I develop new ideas and insight into these ETFs. Good luck and happy hunting.
Thanks for sharing, like a lot of other people on here, rugby's trading of TNA got my attention recently. Something to look at a bit further down the track.
@Tone for smaller accounts, I'm finding that NUGT is a much better ETF for small positions. Its very very volatile but if you can grab your position at they correct moment, it can give you an amazing return in minutes. Tomorrow I'll be verifying my trades from today, Made over 100$ with NUGT in a few minutes with only 200 shares (11-12k$)
Cool thanks for the reply. Is on my watchlist, although I'm limited to swing trades for the moment due to time zones
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