Shared by
beno
Fundamentals
Market vol product
Catalysts / News / Painting the picture
-Fed announced 50 basis points cut last week / Trump pitches 0% payroll tax
-Coronavirus fears continue, case count outside of china increasing faster
-WHO declares COVID-19 as global pandemic
-March 12 2020: Fed says they will do more repo operations (pump money into markets)
-March 13 2020: US declares COVID-19 an emergency
-March 23 2020: The Fed just pledged asset purchases with no limit to support markets (unlimited QE)
Technical Analysis
-SPY Intraday pattern: Runner
-Levels: 254, 257/258, 260, 262
Original Plan / Strategy
First test short of SPY 255 level (long TVIX short SPY)
Review
This was my big loss of the day...Shouldn't have trade market vol products so early in the day...
Lessons Learned: WAIT FOR MARKET STRUCTURE TO FORM BEFORE TRADING TVIX, AND ONLY TRADE A+ LEVELS ON THE SPY!!!
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2020-03-30 09:47:54 | TVIX | buy | $385.000 | long |
| 2020-03-30 09:48:42 | TVIX | buy | $384.360 | long |
| 2020-03-30 09:50:04 | TVIX | buy | $381.000 | long |
| 2020-03-30 09:50:57 | TVIX | sell | $373.530 | long |
| 2020-03-30 09:51:21 | TVIX | sell | $374.970 | long |
| 2020-03-30 09:51:31 | TVIX | sell | $377.150 | 0 |
Leave a comment about this trade!
You need to log into your Tradervue account to leave a comment. If you don't have one,
it takes
just a few seconds to sign up, and it's free!