Miners trading system

Yesterday system 1 went long NUGT and today system 2 has gone long NUGT. If you are trading system 2, that would mean buy NUGT on the open at mrket and set a stop 3% lower then the opening prie. The stop is end of day and executed the next morning.

A word of caution though, this trade system back tested very well for trades of about 8-10 days; with the market as choppy as it has been, it is probably not an ideal time to commit a lot of money to these ideas.

Also some newer members bought NUGT and stopped out on a 3% intraday low, then NUGT went on to rally and close up nearly 1.4%. Unless therwise specified, all stops are on a closing basis. If you have read my risk management link you'll also know that I do not endorse stop limit orders, but rather I prefer mental stops. Also, keep your stops away from any obvious areas of support/resistance, price patterns and especially whole numbers, even if it is something like $7.50. In this market, I'd prefer a wider stop and fewer shares then a large position with a tight stop, intraday/daily volatility has been running high the last month. Stops can always be tightened and you can always add to a trade that is working in your favor.