I guess they owe me one after that PM trade. Today looks really bad. Unless you compare it to Thursday's closing balance...then today looks really good.
So hard to trade the afternoons in this market, look at something like ADP it was something ive just been watching closely, its just a fucking game with these things. I was just watching this happen in the chat room all day sucks in a bunch of people long clears out the lows stops out all the longs, gets everyone short, then back through up through 120 to kill all the shorts, then back below 119 to fuck everyone again. LOL it was just funny, just a masterful fucking job by algorithms, and almost impossible to trade that kind of price action. I wanted to tell the people in this chat just to stop already, lol.
And of course, my first call on the forum was destined to be a flop. If someone had shorted the UVXY at open at 29.31, and held it till the close of 29.74 they would have lost right around 1.5%. If that person had used the SVXY they would have lost about 76 bps. What was interesting today was seeing the colossal 1.5% drop that seems to be solely based on the Friday roll.
Meh dont worry about it, it was a tough day, lol just keep posting ideas, theres no bad ideas in here, the more ideas we post the more we talk about it the more we all learn.
Thanks for the encouragement man! And of course, after the VIX market closed the UVXY spiked down to 29.20
Also wanted to add that I totally agree with this mindset. You guys have taught me a massive amount since I started following this thread. You guys trade a lot of stuff I don't even think about. And even though I'm not a day trader, I think that all knowledge of the financial markets compounds on itself and even if you don't see a direct correlation in it at the moment, its very likely to be helpful going forward.