Shared by:
ToqueX
Grade=C-
3x short crude oil ETF
The setup: Oil looked to be putting in topping pattern, and there was news about Iran putting oil onto the market, American production still being high, and the Saudis still pumping more than they're saying. I didn't want to read too much into all the noise, but I caught the short breakdown here and exited carefully in halves.
My thoughts now: It is risky to try to pick tops and bottoms. Once the trade went my way, I think it was managed okay and the R/R looks about right from here. The problem is that ith the 3x ETFs the normal volatility is often too much for handsome R/R
Execution detail:
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