Here’s what I sent to subscribers:
Entry SHORT UVXY or TVIX or (VXX) at the market at today’s market open at 9.30 AM EST.
Stop Loss = 30% or (20%) from the entry price.
Take Profit = None.
Money Management: Use only 50% of your account for this trade.
If at the close VXX is 5% above today’s VXX opening price, leave 50% of the equity invested (25% of all the account) untill tomorrow’s open at 9.30 AM EST and close 50% of the equity (25% of all the account) at today’s close (4.00 PM EST),
otherwise close everything out at today’s close (4.PM EST).
I looked back for patterns and I found that:
if VXX closes higher than yesterday’s high for 5 times in a row and
if VXX closes above the open for 5 times in a row,
Since VXX inception, 3 times out of 3 VXX closed above the open next day.
Here we are today!
Have a good trading,
Losses the never come alone! Another 1,75% loss in spite of the good pattern.