With the market pulling back nearly 14% over the past few days, I decided to take a punt on a potential recovery. I've opened a position in TQQQ, a 3x leveraged ETF tracking the Nasdaq 100 (top 100 tech stocks).
In this post, I show how easy it is to place an order using a connected TradingView broker—in my case, TradeStation—and set up a bracket order with a take-profit and stop-loss.
If the trade moves against me, the stop-loss automatically manages my risk by closing the position. If it moves in my favor, the take-profit ensures I lock in gains and exit automatically.
Of course, these levels can be really easily adjusted manually as the trade progresses, providing flexibility as the stock moves. You could choose to set your levels based on your favorite indicators signals or some other means.
This isn’t trading advice—just an example of how you can leverage TradingView’s functionality.
It’s real money on the line—my money—so wish me luck! That said, the market could still head lower with ongoing Fed FUD, but I’m holding out hope for a little help from Santa. 🎅