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Trading Record: 31-May-2024 SQQQ Stop Gain @ $10.575 (Ver AI)

Note: This post is written for my personal trading record purpose only, so this should not be taken as any form of investment advice or guidance to follow. Discussion is welcome, while you must do your own research for our own risks.

Discussion

The Nasdaq and market turns very bearish and sells off even after a lower than expected PCE data is released. This is sometimes more luck than skill that you find an inverted movement after finding a better than expected data.

The Nasdaq and QQQ turns upside after the data was release while it literally U turns after a few bars. The market sells off and QQQ drops up to around 2%. In this case, I think this is good to lock down the profit before the market find its feet based on the 620-chart or the market shows some side of finding its foot.

Based on the daily chart, QQQ broke down into the 10MA yesterday and 20MA today with higher volume as the market leaders are being sold off hardly.

Based on the 620-chart or 5-minute below, QQQ shows a relatively strong upside bar in 12:20AM in HKT GMT+8, at which I closed the SQQQ position considering the profit and a possible reversion which would likely trim down the gain quickly. Since our original risk tolerance level or exposure if set a around 1% in SQQQ’s 3x leveraged position, a up to 2% movement in QQQ is equivalent a 6% movement in SQQQ,, which is around 6 times gain over my expected risk exposure. Based on the Perfection of Generosity, or Perfection of Non-greed, this should be a good stop gain opportunity.

My Personal Trading Record :

https://docs.google.com/spreadsheets/d/1Fet2gtENwYOVUggm4n4kovbrzdKcbphP7jHsF0V9GOo/edit?usp=drive_link

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