This is classic. Traders make some money on short term trades and then get wiped out when VXX makes a big move up, as it periodically does like clockwork. If VIX goes to 20, watch out, it's going to 40.
How long have you been trading VXX? The daily roll/contango kills you if you are holding long. Maybe if VIX hits 20 and stays there for more than a week or so you could possibly see VXX at 40 but I highly doubt that. I am not sure what it would take to see VIX/VXX explode like it did a year ago, but take it from me, you will go broke holding shares of VXX as protection and waiting for a real large price increase in VXX. Once again look at contango. If indeed VXX nears 40 get out with any profit you can. Otherwise it will eat you money.