Today, I was Master of the Universe!

[2kids10horses]

Tuesday, not so much.

As you guys have probably figured, I primarily invest in the leveraged index ETFs.

I've been long TQQQ since 6/15. I'm up 10.9%. Not bad for 6 weeks. But, what a ride it's been.

I was in at $46.36, and rode it up to $52, then down to $46, then up to 52 and back down to 46, now back up to $51.42.

If only I had played the trend channel!

Or...

Should I set a limit order at 52? And figure it will do it again?

[2kids10horses]

wxyz,

I'm mostly a buy and hold kind of guy, maybe rebalance from time to time.

I do trade a small portion of the portfolio. Just to keep life interesting.

[2kids10horses]

Well, if I were to have closed my open position at the close on Friday, I would have been up 78% for the year-to-date.

I'm either long or short the market, and I use the triple leveraged QQQ ETFs. (I figure since I'm "betting" on volatility, the 3x gives more action.)

I've made 15 trades this year. 9 (including the current open position) have been profitable, 6 have been losers. Largest losing trade was about 9%. I've had 3 winning trades over 10%, one is the current open position. By far the biggest winner was the opening of the year trade, up 57%. (The actual trade was even more profitable, as I opened it in mid-December last year at a lower price. To calculate the 57%, I used the open price for January.)

[ModE98]

The goal is for 70% winners (most quite substantial) the losers hopefully less than 30% and quite small (cut the losers quickly) ..... at least that seemed to be the average calls by the book writers I have read over the years.

My comment: "Nice work if you can get it".

[2kids10horses]

Mod, I'd say the goal is to have more money in the account at the end of the year than at the beginning! LOL!!!

Yeah, it's "supposed" to have a win % of 74%. This year-to-date it's been around 60%. But, with that big winning trade to start the year off, I can't complain.

[kadee79]

I have my own little "plan"...if I make 20% after all my costs...it gets sold. I can always rebuy on a downslide or find another one to "try".

I like taking my $$$ and running! ;D Makes ME feel good...not so good when ones goes into the !

[Aman A.K.A. Ahamburger]

I don't have advice on trading this 2kids, however, I read this and thought about your housing project. The banks still have quite a few homes to deal with and it looks like you might be able to become the master of their universe. ;D

Real Estate's Latest Mess: Big Banks Now Face Foreclosure
www.forbes.com/sites/morganbrennan/2012/07/28/real-estates-latest-mess-big-banks-facing-foreclosure/

[2kids10horses]

Yeah, I'm buying another house. It's been under contract a month, and was supposed to close today, but for some reason, the bank is dragging their feet, (or their attorney is),and hasn't produced a deed. We just extended the contract...

Looked at another tonight. Total POS. We're gonna pass on that one.

Today, the market made me "Master for a Day". (Remember the old "Queen for a Day" TV show?)

I think the longer it goes sideways, the more powerful the breakout will be, one way or the other. Doesn't matter to me which way, I play both sides. But, for now, I'm Long the markets.

We'll see...

[Aman A.K.A. Ahamburger]

I think you're dead on with the market will break out someday. That's why for the next while(years probably) for me it's, buy on the dips, hold on the rips..

[safeharbor37]

I'd say that a NASDAQ index is a buy and hold, but there is no reason not to "swing trade" if that's what interests you. If you believe we're in a bull or something like it, it would be advisable to hold and add to your position. If you think the peak is near, putting in a limit wouldn't hurt ~ just be sure to get back in when the price drops enough [assuming it does].
There is a certain risk in trading, but greater potential profits than buy and hold.
A long time ago I got some TYCO for <$10 and sold at ~$20 ....It has since doubled. On the other hand I've held shares which peaked, dropped and I ended up losing money. There is a certain rationale to "taking profits" [while they are still profits], but every trade involves a risk of some kind and requires good judgment.

[2kids10horses]

I'm still long on my QQQ trade. I don't even pretend to try to pick the absolute highs or lows. Just go with the flow.