I just closed out my last SNAS (short Nasdaq ETF) trade, and reviewed how it all went.
Thought this may be of interest/use to some...
12/3 Buy $2k 22/3 Buy $2k 6/4 Buy $5k
11/5 Sell $6.4k 12/5 Sell $2.6k
OUT.
18/5 Buy $4k 21/5 Buy $4k
4/6 Sell $7.9k
OUT.
So after all that... I finished just shy of break even, about 1% down.
TRADE 1:
1. 1st entry was good, and did what I thought it should. However, because my starting position was cautiously small, when the Nasdaq dropped 3% and gave me a return of 7.5% , I didn't bother to cash out. Mistake!
2. 2nd entry below the 20EMA was a reasonable bet, but simply didn't work.
3. 3rd entry after a strong run with multiple gaps up... was a bit of a punt on overbought conditions, and may have worked in a normal market. But here it ran up a bit further.
4. Exit was okay... 2/3 then 1/3 of the position. I missed some more downside movement, but the market was swinging all over the place at that point, with a 1.8% intra-day reversal upwards. So I just bailed.
TRADE 2.
Nothing particularly interesting here, although I was pleased with my exit on Friday... kept a close eye on the NDX futures, and exited SNAS at the high soon after the open.
Just had a feeling it was time to get out, and the Nasdaq ran up hard last night, so I'm happy to have dodged that loss!
