Thursday, January 24, 2013

Trade of the day, UVXY!!!

So I broke a bunch of rules today, but this trade just got my emotions going. Went long this morning 1000 shares of UVXY and got filled at 10.15. Decided to hold it overnight after it broke through 11, but as you can see below, my trade turned into a nightmare after 2:30p.m ET. Going to hold UVXY until probably the end of the day tomorrow.
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4 comments:

Anonymous said...

Why didn't you move your stop?

TraderMike said...

I decided to make this into a swing trade after it broke through 11. I had no idea it was going to collapse like that. I should have moved my stop up, but I was so shock the way it fell so far and fast, that I just completely froze.

Anonymous said...

All ur followers were expecting to get a post from you that u had exited the trade after it broke xyz level. Then when nothing, thought maybe you were out on one of your lunch date and too preoccupied with the lady in hand to care about a thousand bucks, LOL, and gluck. -vickii

TraderMike said...

LMAO, not this time Vickii. I was pretty much watching the screen the whole time. It was just a poor trade management.