Kudos to MMs
- Thread starter nitro
- Start date
I agree. But what is your edge? You went from a quantitative method to shooting from the hip. You really think there is edge here. Especially buying vol that is up 100% in the last few months.
No not at all. I am still using the model for direction edge (I know you guys don't believe it), and I am still entering at support levels. 1220 and 1200 are minor support points, agreed, but this is panic selling at this point imo so the extra aggression is warranted.
I don't trade from the hip, and if I do, it is on a different account. The only emotional mistake I have made so far is I left a trade to 1282 instead of 1291 stop loss on this selloff.
Nitro, your FV is over 1400! Based on that, you would justify getting long all the way down to 700 in the SPX. That makes no sense.
And I really would be interested in hearing where you are getting these "minor support levels" from. When markets are in free fall, there is no such thing as support. Only in normally distributed markets do you have standard support and resistance levels. Just my opinion.
I really think you are mad that you are taking losses and you are revenge trading. When markets are falling like this you want to buy them on the way back up, not on the way down. In my opinion.
Yeah, well, I strongly believe that this selloff is structural, not fundamental. In other words, there are institutions that are forced out or are panicking. I agree that I will be buying all the way down to 700 SPX, and that is worrisome because markets can stay irrational longer than I can stay solvent. But you guys don't know how to count. I was long 3 units of S-P-X options for nearly 50 handles. That is almost 150 handles on an average of 61 delta. Do the math. These losing trades are using mostly SPY options (and recently some VIX), and although they are not 1s and 2s (5 total in some cases), the loses are nowhere near the gains I had in the SPX trade because loses are being kept to a minimum on smaller contracts. I eat like an elephant and I shit like a bird, although recently, my bird has diarrhea.
The horrible thing is that I let a 40 handle win on two let slip. That is why this seems so bad.
I am long VIX puts at a fraction off the highs on a 35% move higher, and I am long SPY calls on nearly the lows on a 60 handle loss. Well, if this is a bad trade, then all I can do is shake my head and take my, 8 handle loss. LOL!
I doubt any of you are traders actually. Pussy's mostly, if you even like Pussy.
I doubt any of you are traders actually. Pussy's mostly, if you even like Pussy.
