ETF for dummies

[tsptalk]

What's the difference between "STOP LOSS AND STOP LIMIT?"

A stop loss means get me out of this position if this price is hit. It basically become a market order once that price is hit.

A stop limit means get me out at this price "only".

So if the price of your ETF in this example gaps open down and drops below your stop price, the stop loss will sell it and the stop limit will not until it moves back up to your limit price.

 

[Maricar19]

$54+. Well played. Time for NUGT?

wishful thinking...why did I not get the inference of your statement? I should have bought Nugt.
'twas $5.98 at the time, went up to $10 plus...missed the action.
you are good...userque...

 

[Maricar19]

My system only enters near the close...so I'll be selling DUST and grabbing a little NUGT then.

What is the logic about buying near close?

 

[userque]

wishful thinking...why did I not get the inference of your statement? I should have bought Nugt.
'twas $5.98 at the time, went up to $10 plus...missed the action.
you are good...userque...

Thanks...I've got room for improvement, of course. Zigged when I should have zagged in NUGT recently.

 

[userque]

What is the logic about buying near close?

The algo was based upon historical EOD data, so it only had knowledge of the O, H, L, and C.

If it forecasted an UP day, it would be calculated from the close, to the next-day close; so the optimum entry (and exit) would be near the closing price.

I've recently added intraday data to the algo. It has more flexibility now.

 

[Maricar19]

Learned from my mistakes in ETF trading. It was expensive - tax wise. I didn't know about "Wash Sale Rule." When I received my 1099 from Robinhood, there was a column "Wash Sales Disallowed." It hurt. I cannot deduct my losses from my gains, I ended paying a lot more in taxes.
Newbies in ETF trading, read:
Wash-Sale Rule