You lose money trading anything if you are wrong. The probability is higher if you know how to trade it. Although, just be careful in this market. You can lose big with quick, huge moves down.
Well yeah, but certain instruments have a much higher probability of losing and they are way less forgiving. VIX is one of them. The fact that he asked means he's unfamiliar with trading it, and today is certainly not the best time to learn. Its like throwing a goldfish in a piranha tank. You can buy puts and calls on it too using $VIX. They're suicide and the spread is unbelievable. I've tried.
Basically, the market either go up, down or flat. You just need to eliminate the down move...a big down move.
200 WYNN short @ 59.50 edit 200 more 58.84 tight stop edit 100 more 58.90 Edit out 400 at 59.14. Too risky out 100 59.06
There's gonna be a large short squeeze today, this afternoon I think. If not, things are really looking bad. If I were playing ES, I'd roll the dice and go long right now, or wait for 2360 to be safe. There will be a run however.