The intraday charts not only stayed positive, they added to that positive divergence so no longs were closed out. This is why I never want to make decisions based on emotion and the volatility today certainly can be emotion evoking. This is also one reason to consider end of day stops, give yourself and the market some time to come off intraday volatility.
In any case, I'm not quite sure how I'll end up playing the UVXY short, if it is worth holding overnight as it was meant to be a trending day trade, but I picked the worst day for such an example with this volatility, but it is a good example of letting the market tell you what to do rather than your emotions.
Updates are coming.
5 years ago
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