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What a lousy way to make $215.00 ! (QLD)

The “go-to” trade on QLD has concluded. And good riddance to it. I sold my 250 shares for $66.02 right before Wednesday’s close, as the sell signal of RSI(5) > 50 was triggered.

Obviously, this was a crappy was to make $215 (before commissions), as this trade was put on right in time for last Thursday’s flash crash:

Just as I pointed out that the main drawback to this trade is that it doesn’t utilize stop orders for exits, I was forced to watch the position drop over $4200 in the course of a few minutes (if the $48 print for QLD can be believed)! Not good money management for a $10,000 account, I can assure you. The go-to trade came through in the end, but not before extracting way more than a pound of flesh for $215!

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