Shared by
rogomon
My worst trade in more than 40 days. I took a position with no real edge and the SPY ramped on some random international news and the VXX nosedived.
Mistakes I made with this trade:
- There was no real edge. The SPY was choppy and this should have been taken as a warning.
- My entries were premature
- I didn't use hard stop loss orders and couldn't react fast enough and started to rationalize
- I added to a losing position to average down. That always ends well.
I've been trying to trade ETFs a bit more lately but I'm going to review my success rate and either size way down to 100 shares until my PnL proves I do well with these or I am going to avoid ETFs entirely for the time being.
Execution detail:
| Date/time | Symbol | Side | Price | Position |
|---|---|---|---|---|
| 2016-03-02 10:57:22 | VXX | buy | $22.820 | long |
| 2016-03-02 11:01:22 | VXX | buy | $22.670 | long |
| 2016-03-02 11:06:20 | VXX | sell | $22.500 | long |
| 2016-03-02 11:06:20 | VXX | sell | $22.505 | long |
| 2016-03-02 11:06:20 | VXX | sell | $22.500 | long |
| 2016-03-02 11:06:20 | VXX | sell | $22.500 | 0 |
| 2016-03-02 11:07:32 | VXX | buy | $22.520 | long |
| 2016-03-02 11:10:46 | VXX | sell | $22.485 | 0 |
| 2016-03-02 11:11:59 | VXX | buy | $22.530 | long |
| 2016-03-02 11:14:34 | VXX | buy | $22.550 | long |
| 2016-03-02 11:30:37 | VXX | sell | $22.550 | long |
| 2016-03-02 11:30:37 | VXX | sell | $22.550 | long |
| 2016-03-02 11:30:37 | VXX | sell | $22.550 | 0 |
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