VXX Trade on Jun 16, 2020 10:38 from YoungSantana: Tradervue User Stock Trades.

Notes on the trade: There were no technicals behind this trade; it was entirely based on news and price action. The trading session was pretty boring up to this point, however, during Jerome Powell’s (Chair of the Federal Reserve) speech today the market began to react negatively to the things he was saying in addition to the fears of a second wave of Covid-19 becoming a reality to many states across the country.

Once I saw the market losing strength I got long on $VXX in anticipation of a big move, however, I was in a bit too early and got stopped out, nevertheless, I kept watching the market and it was screaming bearish and I saw potential on the trade so I got in once more and this time the trade worked! My main strategy was to scalp the stock as volatility was increasing and that's exactly what I did. Also, since the risk reward was so good, I decided to size up which in fact was the right decision. This trade took me from a big red day to a small green day. Last but not least, this is my first time successfully trading based on news! On previous occasions I was either scared to trade or made mistakes.