The objective is not to panic when it gets to $13, and many would have taken this week $15 to $19 if it ran there on UVXY. I do not trade HVU which has had a remarkable run from mid Feb. That created the spread range to enter the trade.
I take an exit as the trade provided huge upside profit in less than 2 weeks. This is my thought son the trade and why I will not hold for the weekend. A deal could b emade, and really market is in a bullish mood until proven otherwise.
A trade plan simply is to remove emotions, not cast in stone. No one knew how far an advance we can have in a week. Reality is the price high on HVU was flirting toward $4.00 = approx $15 UVXY. My plan wa ssteady exits, $11, $13, $15, $17, $19. Very ambitious. Reality is knowing I placed largest trades for $13, $15, $17. Just one filled. Next is reality I am all out between $11 to $13. Never got lower, never higher on exit.
In the time frame to March 1 end of week the trade HVU was low $2.39 to high $3.79, with 59% move to upside high this week. If one takes exit between $3.10 to $3.50 using a plan you have done very very well. That is how I look at my entry and exit on this short term trade. It was the market price action not my planned objectives that prevented me taking out higher prices. The price action dictates the exit, for with HVU / UVXY greed or hope will bring disapointment.
Enjoy the weekend. GLTA