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ProShares Ultra VIX Short-Term Futures Message Board

  • gunnerbean96 gunnerbean96 Sep 27, 2012 5:20 PM Flag

    Duyt, couple questions.

    Lets share a bit. I used to trade my cash account as a pattern day trader (in and out intraday as needed) but that ties up your money till the next day. The way around it is to have twice as much cash in the account and trade half. This year I do not day trade. Revising my plans. Which way do you go since you seem to make a lot of trades? I assume you hold overnight most times and avoid the pattern status. I also played with uvxy and xiv too much this year and got burned, even after huge gains at times. Think those are done for me soon. Thinking xiv sees 18-19 by early next week though. To think I had 50k shares at 5.50 and also 1000 shares Appl at 380!!! Kicking my own butt for those sells which we're long ago for smallish gains.

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    • Day trade strategy: Each stock/etf has it own pattern. So, it is depend on the play. Some ETFs/stocks, people get out at the end of the day no matter what. Normally, you use that as your advantage, you use your reserve cash to buy at the end of the day and then sell a the high of the next day. Some time you can gain 2-3% just doing that. So, cash is king.

      50% in cash is good plan. If you play against shorts, sometimes they are desperate and sell to hammering the stock down, then bring it up to collect the shares. Use that as your advantage. Buy on the dip and get out when the collect their shares. You can gain 2-3% on their desperation.

      long play strategy: Play for 6-8weeks or could be longer if necessary. Buy small 1/3 of what you want to buy. If they bring it down, calculate it again. If you still think you are right, buy 1/3 more. And so on.

      Take care,
      Duy.

 
UVXY
69.40-3.88(-5.59%)Sep 2 4:51 PMEDT