Mainly going to watch this since none of the OTCs have clean panics with big bounces. The $SPY may have made a bear flag on the daily chart and almost all stocks were red on the day. We could see more downside.
I wasn’t here for the open so I didn’t catch any of those nice $TVIX runs. I did, however, see the $SPY starting to crack a support level which was a perfect time to buy $TVIX. The problem is: I didn’t hold it long enough so I got faked out by a tiny dip. I got out because this thing can tank fast and hard in a matter of seconds if you’re wrong. I was completely right though and just got scared by a small dip (up to $13.30+ now). I may try this again on Monday if the markets continue to be weak.
I’ve taken a few tiny losses recently because they started rolling over on me and I don’t want small losses turning into big $20+ losses (even though $20 doesn’t matter in the grand scheme of things). I know what my problem is though. I’m not trusting myself so I’m not giving the trade time to work. I stop out too soon when it’s not going my way and end up taking a loss each time. $MTBC, $CMCM, and now $TVIX all would have worked out if I had let the trades play out and had been more patient. $TVIX is a bit different but the reason I got out is not. I never had this problem before, but that could be because the trades before worked almost instantly and I got out right before a crash.
I have yet to have the satisfaction of being up a lot instantly. It’s far easier to be down a lot than it is to be up a lot.
I am not a registered financial adviser/broker/anything. Use this information for entertainment/informational purposes only. Any tickers mentioned are not recommendations to buy/sell/or sell short. They are used as examples only.