Jump to content

Need guidance


Recommended Posts

Hey everyone I am considering of investing around $10k on the Direxion daily energy bull x3, Im new to trading and i do not understand much .

When buying this ETF and holding it for long term what is the downside of it? like where is the stop loss that would cause me to lose my investment and what else do i need to consider before purchasing? 

Link to comment
20 hours ago, Investor187 said:

Hey everyone I am considering of investing around $10k on the Direxion daily energy bull x3, Im new to trading and i do not understand much .

When buying this ETF and holding it for long term what is the downside of it? like where is the stop loss that would cause me to lose my investment and what else do i need to consider before purchasing? 

So if you are new and don't understand much, how has this idea of buying $10,000 of a very specific security come to you - was it suggested by someone?  You ought to do your own research and not go off tips.  Peter Lynch's book 'How to beat Wall Street' is good.

Edited by dmedin
Link to comment

I would tend to agree with dmedin. It's a large amount of money to drop on something you admit to know nothing about. I don't really trade in those leveraged ETFs, but I don't think most of them are intended to be held long term. Maybe try trading on a demo account before you risk large amounts of money. But hey, it's your money, and sometimes the best lessons come with cost. Good luck with whatever you decide.

Link to comment

Yes i understand, thank you for your contribution. However how does it work? I cannot find much online, like is there a stop loss that triggers when the indexes returns go lower?  because I have seen this ETF go as low as $1 when the oil future contracts expired last month and everything went negative

  • Sad 1
Link to comment

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • General Statistics

    • Total Topics
      20,129
    • Total Posts
      88,222
    • Total Members
      69,114
    • Most Online
      7,522
      10/06/21 10:53

    Newest Member
    vinprabhu
    Joined 06/10/22 04:45
  • Posts

    • Elliott Wave Analysis TradingLounge Daily Chart, 6 October 2022, Uniswap (UNIUSD) UNIUSD Elliott Wave Technical Analysis Function: Follow trend Mode: Motive Structure: Impulse Position: Wave 2 Direction Next higher Degrees: wave ((3)) of Motive Details: Price tends to trade above 9.817, but must not reverse below 5.552 Wave Cancel invalid Level: 5.552 Uniswap (UNIUSD) Trading Strategy: The price tends to trade above 9.817, but be aware of the important resistance at the MA200 line, if it fails, there is a chance to reverse again. And it could be an opportunity to join the trend. Uniswap (UNIUSD) Technical Indicators: The price is below the MA200, and MASO line. momentum is bearish. Tradinglounge Analyst : Kittiampon Somboonsod Source Tradinglounge.comGet trial here!     Uniswap (UNIUSD) UNIUSD Elliott Wave Technical Analysis 4Hr Chart Function: Follow trend Mode: Motive Structure: Impulse Position: Wave 2 Direction Next higher Degrees: wave ((3)) of Motive Details: Price tends to trade above 9.817, but must not reverse below 5.541 Wave Cancel invalid Level: 5.541 Uniswap (UNIUSD) Trading Strategy:The price tends to trade higher steadily, but the MACD is declining. You may need to be cautious when trading during this period. But even then, Momentum is still positive above the MA200 and MAS50 lines. Uniswap (UNIUSD) Technical Indicators: The price is abovethe MA200, and MASO line. momentum is Bullish.
    • Stock Market SP 500, NASDAQ 100 NDX, Russell 2000 RUT. Dow Jones Industrial (DJI) Elliott Wave Technical Analysis and Trading Strategies. US Markets News Today: OPEC+ Agrees to Biggest Oil Production Cut Since Start of Pandemic/ reduce output by 2 million barrels. Elliott Wave Market Summary: The move upwards is a bear market corrective rally, how far it goes is the question and today I take a look a few possibilities  Elliott Wave count: Tracking two wave counts Day / Trend Trading Strategies: No Strategy Video Chapters 00:00 S&P500  16:15 NASDAQ 100 (NDX) 16:36 Russell 2000 (RUT)  21:45 Dow Jones (DJI) 24:35 End. Thanks for supporting! Analyst Peter Mathers TradingLounge™ Australian Financial Services Licence - AFSL 317817 Source: tradinglounge com    
    • Market data to trade on Thursday: Aussie Trade; Levi earnings With the upside risk for forecasts for the Australian trade data, IGTV’s Jeremy Naylor looks at the long trade on the Aussie benchmark, the S&P ASX 200. Earnings out on Thursday include Constellation Brands and Levi Strauss.      
×
×
  • Create New...