Shared by
beno
Fundamentals
Market vol product
Catalysts / News / Painting the picture
-Fed announced 50 basis points cut today
-Strong move to 310 on SPY then faded all day (TVIX strength all day)
-Coronavirus fears continue
Technical Analysis
-Strong pullback in the morning after fed cut rates
-Uptrend all day after that
-Levels: 90, 102, 110, 115, 124
Original Plan / Strategy
First Test long of 120 level
Review
In hindsight this wasn't a good R/R trade to take because if it works I get probably 3 points of upside but if it doesn't then theres 5 points (or more!) of downside to 115. I got big too quickly on the setup and shouldn't have taken it because the time of the day. I'm glad I was able to average down and recycle shares to turn this into a scratch trade
Lessons Learned: DON'T TRADE MARKET VOL PRODUCTS DURING THE LAST HALF HOUR OF THE DAY, YOU WILL GET CHOPPED AROUND!
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-03-03 15:41:32 | TVIX | buy | $120.420 | long |
| 2020-03-03 15:41:37 | TVIX | buy | $120.090 | long |
| 2020-03-03 15:41:40 | TVIX | buy | $119.620 | long |
| 2020-03-03 15:42:15 | TVIX | buy | $119.930 | long |
| 2020-03-03 15:42:28 | TVIX | buy | $119.110 | long |
| 2020-03-03 15:43:01 | TVIX | sell | $119.420 | long |
| 2020-03-03 15:44:00 | TVIX | buy | $118.230 | long |
| 2020-03-03 15:45:32 | TVIX | sell | $119.010 | long |
| 2020-03-03 15:45:51 | TVIX | buy | $117.020 | long |
| 2020-03-03 15:46:10 | TVIX | buy | $116.350 | long |
| 2020-03-03 15:47:20 | TVIX | sell | $117.250 | long |
| 2020-03-03 15:47:46 | TVIX | sell | $117.330 | long |
| 2020-03-03 15:49:50 | TVIX | sell | $118.400 | long |
| 2020-03-03 15:49:56 | TVIX | sell | $118.750 | long |
| 2020-03-03 15:50:01 | TVIX | sell | $119.860 | long |
| 2020-03-03 15:50:16 | TVIX | sell | $120.980 | 0 |
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