In this Sunday video, we’ll review a short position we opened in the Compounding Growth Mastery last week and lay out our plan heading into March and April.
This week we entered an in-the-money (ITM) call credit spread on the IWM (Russel ETF), risking about 5% of our account on this trade to potentially make anywhere from 20% to 25%.
On any bounce next week, we would like to add another 5% of risk to potentially make 30% by March.
This is the type of trade we want to continue taking over and over again.
If we’re in a downtrend for the next few months, we’d love to get into setups just like this where we can risk about 5% of our account to work the numbers in our favor for a higher reward.
In a bearish structure like we are in with sell signals across the board, we’re best served by shorting the bounces.
Into March and April, we’ll look for bounces in the QQQ (Nasdaq ETF), SPY (S&P 500 ETF) and other names to short and position ourselves to risk 5% of our accounts to make 20% to 30%.
Stay Focused!