Today. I wish I had sold them at 60 cents (naked sell) because I bet they drop tomorrow.
No, but I just lost another $3500 on the YELP drop. I'm now down from 500K to 67.5K. At this point it's pretty clear I need to stop before it hits 0.
Worst of all is a monkey can make millions in this market just buy XIV or something similar. We have 7 years in a row up in the market and I now can see there isn't any reason to expect a down year again in our times.
I've got it now, two things.
1) Forget about individual stocks. Many stocks are cheap for a reason. PGN was the worst value trap of all time and cost me a huge majority of my capital.
2) You cannot play the game scared. If you take a big short position in VXX, just be prepared to right it out since it cannot ever have a sustained rise. The corollary to this is that the markets are in a new paradigm where they cannot have meaningful declines.
I wish I had known this when I still had 500K to invest, but even 71K is better than nothing. Hope to apply thee lessons for greater success soon.
I overslept too! I see the market is on fire and VXX is getting crushed, predictable since I covered yesterday! I am not familiar with whatsup, what is it?!
Excellent! Yes I would appreciate that very much! Just need to get untracked right now, get going back in the right direction. Been a real struggle. I hear what you say about a break, but I am ready and would appreciate any help you can give me.
Man! Covered right at high of day on VXX, looks like a 5% or more drop tomorrow, ARGH.
Thank you very much, I would greatly appreciate it!!! If you can make 600% in a couple weeks you are a wizard! You know having started at 100k I wouldn't feel so bad being at 70k but man, having been at 500! Ayyyyy chihuahua. You're right though I just got to find a way to pretend that didn't happen otherwise I never get back.
Horse is out of the barn on that one. If you woulda told me last year when I had 500K that I'd have 71k now I never woulda believed it.
It looks like I've been placed on trading restrictions!!!# won't be able to get back in until Thursday. Seriously, I went from 100k to 500k to 71k. Is that the saddest junk you ever heard?
Thank you, very helpful! I need a 600% gain to make PGN losses back but Rome wasn't built in a day. How can we tell when we're beginning another 2011 type spike?
Fisherman, i know it's small change to you but Iwas feeling good after turning 100k into 500k. Felt like I could play with the big dogs. Now at 73k I see what Livermore meant. It's infected every fiber of my being and don't see how I can go on.
That would make me feel better but I fear my VXX cover at 18.06 was basically the top. You wouldn't have thought after turning 500k into 83k that losing another 12k would hurt but brother does it ever.
As an experienced trader could you do us a solid and disclose exactly what your current positions are so we can see how the hedges work? I got stopped out for huge losses on VXX short today because I was feeling sick and it plunged right afterward.
You can rest easy at night since I got chased out. Chased out at just over 18. Now, in all likelihood it will never go back to 18.
It shows the danger of leverage which keeps you from thinking clearly with a clear head. I kept thinking about those poor bastids who lost it all shorting the VIX a few years ago. At least I have 71K left. From 125K to 500K to 71K. How about that sports fans? At least I got capital losses to use for ages LOL. And they wonder why people hate the markets.