I've marked out a line below the current range that I am using to establish my stop. Although I prefer to use a 3D on these ETFs as it seems that the shorter timeframes are accurately tracking right now, I'll use them.
I've also marked out a longer level of support that is about 8% below Friday's close. I would expect us to drop down into the lower channel as we have previously, should the overall market see a correction. We could easily lose that amount in one day. We've done it before.
Setting a tight stop does obviously open me up to a bad day, but ARK investments have seen some great returns so far for me and I can always buy back in with a tight stop even if I miss out on a few %.
Market timing is nearly impossible. Setting stops is not a guarantee of preventing losses. If you are concerned about losses, put your money in a stable return fund.
I've also marked out a longer level of support that is about 8% below Friday's close. I would expect us to drop down into the lower channel as we have previously, should the overall market see a correction. We could easily lose that amount in one day. We've done it before.
Setting a tight stop does obviously open me up to a bad day, but ARK investments have seen some great returns so far for me and I can always buy back in with a tight stop even if I miss out on a few %.
Market timing is nearly impossible. Setting stops is not a guarantee of preventing losses. If you are concerned about losses, put your money in a stable return fund.