What account size are you playing with? Trying to get a handle on how people position size so if I ever start up again I won't have another disaster.
Wow, you did fantastic. After dropping 33% of my money, I need 50% gain on my *whole portfolio* just to make those losses back. Simply cannot see how I can do it, but you give me a little hope with those brilliant trades.
I am probably going to need to sit out for a long time as well. Who knows how long, hopefully not a few years but maybe. It seems like a lot of people have come back from 50, 75, even 90% loss and made it back. But right now my 33% loss is seeming like it kicked my butt. 50% gain to make it back, and even 1% seems hard right now. But it's still so recent and fresh.
Marat, are you saying you lost 80% of your whole account in a week? How did that happen? The puts still seem like they've held up some in value, perhaps I misunderstood your post. I am still stunned at 33% loss but like you I thank God it wasn't worse.
Thanks, will check it out. My head is spinning
Yes I did. Missed everything, down 33% and will Never recover as I have been mentally beaten.
Couldn't get in at 21.50 even though it was there for me on a platter. Instead of 538 I would have 610 after having 800 two weeks ago. Time to face facts. The shocking loss broke me and I can no longer play this game. I've been utterly defeated.
Well, I didn't miss out the last two weeks- I lost 1/3 of my money! Huzzah! There's no coming back from that.
Yes I must! UVXY March 20/15 is on my radar.
Very wise words- you hit it right- fear. Fear. It wasn't just that I lost 1/3 of my money, which is scary enough. It's that the Friday before the fateful spike I was short 300 calls, and I just barely covered 100 of those 300 before Friday's close. Had I not done that, and it was a close decision, I would have had a loss of 150% and never would have been able to repay it. That's the kind of thing that will scare you. And of course there are all the people pointing out that the market is disconnected from the economy, that you start to believe them.
Yes, that is likely. XIV probably will be $50 in 2016 at some point.
I didn't do it Joey! I pulled the trade! That probably means XIV will hit $43 soon. unless I buy it, then it will tank!
I am still at -33%, have not played since last Monday. Wish I had not pulled my order to buy XIV at 21.50 because it would have been great.
Hi EJ, I won't sell any more puts than I can satisfy with cash- so if I had 530K account I would only sell 160 of those puts, for a return of 70K which is 14%, still nice though. Thanks for the suggestion!
I hope you're wrong about the crash, but it makes some sense. The market does seem completely disconnected from reality. I suppose in some ways, even though it is crushing, I should feel thankful I "only" lost 1/3 of my money on UVXY short as it surely could have been worse. It sounds like from the UVXY board a whole bunch of people got in too heavy and had 100% loss or worse. So right now, it's hurting me to watch this incredible explosive move in XIV, but I am only the sidelines while I think about my next move.
We saw what happened to Schizo and many others. Even though unlikely a spike in UVXY can shut you down.
Right now, my favorite play is the January 2017 GM call spread 30/35 which costs 1.50 and potential gain of 233%.
I am so disappointed I pulled that XIV 21.50 all in order. I still would be down 30% from a couple weeks ago but that's better than 35-40%. Man, really painful. I tell you if XIV hits $2 (or even $5) I will have long since been wiped out catching a falling knife.
Yes that is the wild card, if we have another 2008 type crisis as many experts predict (I am praying it doesn't happen obviously), these products will do God knows what. We've already seen them bankrupt more than a few people. I actually should feel thankful to have retained any money at all after that spike from 24 to 80s. Could easily have been 100% taken out. The bid ask on SVXY is just too much for me to play those options. Maybe some leaps on some high quality beaten stocks like GM?
Will not short due to unlimited risk- and also that would only be 50% gain. But I do appreciate the suggestion.
I agree with that. A lot of people seem to really want a repeat of the 2008 crisis. I sure hope it doesn't happen for many reasons. For selfish reasons, after my huge losses recently I am bad looking for jobs and if things crash I am screwed and will have to go teach English in China.