Ironfist's UVXY journal with demo account

KCalhoun said:
uvxy always pivots near 52 week low (currently 8.71) which is what it's near right now, at 9.81.... it drops for up to a few weeks, then pops up... we're closer imho to a pop than much more drop, eg it will often dip .30 below current 52wlo to shake out, then skyrockets up.

likely next move is, it drops to 8.4 or so within a week, then climbs back up to 12+ by late nov.

8.30 major support, 11 resistance:

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Should trendlines and support count for anything on that? It's a measure of volatility which has no bearing on people saying "oh this is a good location to buy" like they do with stocks which is what causes support.
 
IronFist said:
Should trendlines and support count for anything on that? It's a measure of volatility which has no bearing on people saying "oh this is a good location to buy" like they do with stocks which is what causes support.
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Hi, not that I've found.. it's very tricky... main thing I do is daytrade it when it spikes
 
Trendlines work on anything - even stuff completely unrelated to trading. In cases where they don't work, it is the user that fails.
 
IronFist said:
Like, I'm confused. You wrote about UVXY trendlines and support and resistance.
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Check out Brent Osachoff on Youtube. He spends a lot of time with UVXY and VXX. And he is not a fan of trying to ride the decay of the ETN.

My advice is to stay clear of any VIX related products until you've gained extensive experience, and are well aware of the risks and characteristics of the instruments.
 
lindq said:
Check out Brent Osachoff on Youtube. He spends a lot of time with UVXY and VXX. And he is not a fan of trying to ride the decay of the ETN.

My advice is to stay clear of any VIX related products until you've gained extensive experience, and are well aware of the risks and characteristics of the instruments.
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So, the risks are what, it can increase super fast and you lose the money paid for the put?

I can look into these recommendations. Thanks. How come he doesn't try to trade them based on their constant lowering?
 
IronFist said:
@SunTrader lol yeah that's what people want you to think. "OUR METHOD IS RIGHT. IF YOU DO IT WRONG IT'S BECAUSE YOU, NOT BECAUSE WE."
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Exactly you did it wrong.

It's ok one day you will get it right - or not. Keep looking to blame someone else.

What's with the caps?
 
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