The Super Terrific Happy Hour

beerntrading said:
I guess they owe me one after that PM trade.

Today looks really bad. Unless you compare it to Thursday's closing balance...then today looks really good.
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So hard to trade the afternoons in this market, look at something like ADP it was something ive just been watching closely, its just a fucking game with these things.

I was just watching this happen in the chat room all day sucks in a bunch of people long clears out the lows stops out all the longs, gets everyone short, then back through up through 120 to kill all the shorts, then back below 119 to fuck everyone again.

LOL it was just funny, just a masterful fucking job by algorithms, and almost impossible to trade that kind of price action. I wanted to tell the people in this chat just to stop already, lol.

adp.PNG
 
mt2rules said:
Hey guys!

I've been a long time lurker here and love this thread and have followed it since the beginning. I don't ever post because I swing trade almost solely VIX ETPs and hedge (UVXY usually). You guys should definitely consider shorting vol on Monday. We had a major run up this week in the UVXY and as long as nothing happens by Monday it should take a dirt nap. By my calculations, the UVXY has lost an average of around 3% every Monday in 2017 and this Monday will probably be on the higher end of the range (This calculation is based on Friday close to Monday close). Good luck to you all this week and hopefully we see 2500 before the end of Friday!
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And of course, my first call on the forum was destined to be a flop. If someone had shorted the UVXY at open at 29.31, and held it till the close of 29.74 they would have lost right around 1.5%. If that person had used the SVXY they would have lost about 76 bps. What was interesting today was seeing the colossal 1.5% drop that seems to be solely based on the Friday roll.
 
mt2rules said:
And of course, my first call on the forum was destined to be a flop. If someone had shorted the UVXY at open at 29.31, and held it till the close of 29.74 they would have lost right around 1.5%. If that person had used the SVXY they would have lost about 76 bps. What was interesting today was seeing the colossal 1.5% drop that seems to be solely based on the Friday roll.
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Meh dont worry about it, it was a tough day, lol just keep posting ideas, theres no bad ideas in here, the more ideas we post the more we talk about it the more we all learn.
 
Max E. said:
Meh dont worry about it, it was a tough day, lol just keep posting ideas, theres no bad ideas in here, the more ideas we post the more we talk about it the more we all learn.
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Thanks for the encouragement man! And of course, after the VIX market closed the UVXY spiked down to 29.20 :rolleyes::rolleyes:
 
Max E. said:
Meh dont worry about it, it was a tough day, lol just keep posting ideas, theres no bad ideas in here, the more ideas we post the more we talk about it the more we all learn.
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Also wanted to add that I totally agree with this mindset. You guys have taught me a massive amount since I started following this thread. You guys trade a lot of stuff I don't even think about. And even though I'm not a day trader, I think that all knowledge of the financial markets compounds on itself and even if you don't see a direct correlation in it at the moment, its very likely to be helpful going forward.
 
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