Lets say I want to buy some leveraged ETFs on a day/week/month when the market is really cruising.
But I don't want lose my gains.
I want to ride the "up" but immediately sell on the first sign of a "down".
I've got a Fidelity Account.
Do I order, then immediately set a trail stop limit %, of like, 1%? Or a cost per share of something like 10 cents on a $30 share?
My thought being, as long as the fund improves, I'm making money, but as soon it declines, I'm out until I can check the account again.
The risk, I assume, is that it could drop immediately after purchase, and I'd lose a few hundred bucks real quick.
Or is there a risk that my sell or stop limit doesn't "react" quick enough for rapidly declining value?
