This guy Scalptrader on Briefing.com is the King of adding to losers and relentlessly adjusting his "stops". Then when the trade becomes a complete trainwreck he changes his position from a "Scalp" to a "Swing". Watch and learn how NOT TO TRADE... (Read from the bottom to top)- LIVE IN PLAY 04-Dec-15 15:59 ET SCALP ScalpTrader: UVXY Update -- Going to carry position overnight; moving stops down to $24.00 area to accommodate early movement on Monday. (24.80) 04-Dec-15 14:54 ET SCALP ScalpTrader: UVXY/Market -- Really some perplexing price action to me. I'm going to take a hit here as well if this get stopped out (25.01 -5.19) Just want to let you know that I'm sharing in the pain on this. I don't mind taking a loss on this b/c I make most of my money on high conviction set ups that I scale into. I have to take the winners with the losers. UVXY is a tricky instrument, but I'm just as perplexed by this monster bid under the market even as segments of the Energy complex continue to come unglued. 04-Dec-15 14:39 ET SCALP ScalpTrader: UVXY Update -- Adding a final 1/3 here per plan. I'm trading a historical price pattern here, but it is starting to move beyond what I've seen in the past. Still planning to take as a swing. Putting stop in place in the $24.40 area. (25.45 -4.74) At some point I'll have to step away, but still think there is a good chance this could lift on Monday. 04-Dec-15 12:45 ET SCALP ScalpTrader: UVXY Update -- This is just very unusual action in the market. Price action like we've seen the past couple of days tends to lead to increased volatility. I'm going to keep this position as a swing. Will add another 1/3 every 0.50 lower. Adding another 1/3 here. (26.02 -4.18) Stops are off for now. 04-Dec-15 12:36 ET SCALP ScalpTrader: UVXY Update (26.28) Really having trouble clearing this 27.10 area. Have stalled out there about 4 times. I considered trading around it (scaling into $27.10, then buying back on weakness), which would have been very effective. However, didn't want to do all this work and then miss a run to $28. Now dealing with position coming back to lows. Keeping stop in the $25.70 area. 04-Dec-15 11:16 ET SCALP ScalpTrader: UVXY Additional Details (26.611) From a personal perspective, I'm actually increasing the size of my scale in down here, as I really like this zone for a bounce. 04-Dec-15 11:12 ET SCALP ScalpTrader: UVXY Long Details (26.43 -3.78) Right now have a 2x position in UVXY after continuing to scale in on weakness. Have seen instrument give back almost all of yesterday's gains, which is uncommon from what I have observed over the years following a major spike in volatility. Market has pushed further than I thought, but pullback in UVXY is allowing me to get my cost basis down. Expecting at least a 1-1.5 pt move higher from my last entry or more should market roll over late. Simply trading a set-up that I've seen a number of times in the past. 04-Dec-15 11:00 ET SCALP ScalpTrader: UVXY -- Adding final 1/3 (26.40) 04-Dec-15 10:55 ET SCALP ScalpTrader: UVXY Update -- I'm going to take stop down to $25.70 for now, just in case we get a flash down in this. Not expecting it but have seen it before. Will add another 1/3 if we see $26.30 area. (26.74) 04-Dec-15 10:50 ET SCALP ScalpTrader: UVXY Update -- Adding another 1/3. We have a nice squeeze going on in the market, but I still see prospect of uptick in volatility as day progresses. Getting my cost basis down. (26.76) 04-Dec-15 10:46 ET SCALP ScalpTrader: UVXY Update -- Putting on that additional 1/3 here. Stops in the $26.25 area. Will add another 1/3 if we see $26.70 (27.02) 04-Dec-15 10:39 ET SCALP ScalpTrader: UVXY Update -- Going to add another 1/3 if we see $27.00. Stops to $26.25 area. (27.20) 04-Dec-15 09:46 ET SCALP ScalpTrader: UVXY Update -- Adding another 1/4 here, bringing this to a full position. Stops in the $26.40 area. Will add another 1/3 if we see $27.00. (27.37) 04-Dec-15 09:42 ET SCALP ScalpTrader: UVXY Update -- Putting on another 1/4 here. Will add more if we see $27.45 area. (27.85) 04-Dec-15 09:38 ET SCALP ScalpTrader: UVXY follow-up -- If you were not able to get filled after the initial post, would consider starting to scale in here. (28.53) 04-Dec-15 09:33 ET SCALP ScalpTrader: UVXY Scalp Long -- risking 2 pts, going 1/2 size. Will add more if we see $27.50 area. (28.44)
wow, that's ugly...but my guess is that it's probably sim...or a super small position...in any event, it should become obvious at some point during the day that this thing is going to squeeze him dry..which is why that "scale into oblivion" stuff is a killer...the position becomes so big that taking a loss becomes psychologically impossible (and now he has the weekend to stress about it).
Dont feel bad. Trading is kill or be killed. Losing should be encouraged. The more losers the quicker you can make your number and retire.
LMAO! Let's see... 2x add 1/2 2x add 1/4 5x add 1/3 4x lowering stops 1x changing from a scalp to a swing trade Can't believe that guy collects a paycheck from Briefing. SMH
The last comment said it all...he collects a paycheck, hence he can afford to lead his lemmings off of the cliff.