I left some details on these above and I'm sure someone will be able to detail more, but it really depends... Like I can't guarantee the market but I have a feeling there will be a rebound some followed by this dump again on Friday. And then after stimulus is through, it very well could rise but it can get really messy on these, because if the trading volume stops and moves to safer funds/stocks I think they can be very risky. So regardless of plan if you get in one again (an etn) and aren't able to watch it when you hit a profit you want to take it or set that trailing stop loss so you leave with profits. Like in this current market w/ the unknowns an etn can look amazing and then fall flat.
Yes, I think this should work too. Like once feds are left w/ less options and/or virus news I think there will be more action like was recently in these types of notes. I just recommend to play carefully with these.
It definitely will make a difference for our businesses. Luckily, I own UPS Stores which have been deemed essential for the supply chain, but we've had to cut back on hours significantly. We are also lucky that our business is not horrible right now.
On your TD account are you able to make pre-market moves? I read you could but wanted to make sure there weren't limitations on it with times *
This can be true for sure, basically I'm trying to earn in short time daytrading and then put back more into long-term investments. But if you day trade and are stuck on emotionally thinking about the losses on your long-terms it can mess you up on your daytrading plans. Ie on longs set them and forget them and add more, don't suddenly move your whole long portfolio into a "sure thing" and lose years of work etc. so basically into something super risky thinking you need to make up your longs. Hell when the longs are down/way down add more.
TVIX follows the VIX (or should, but many of these leveraged ETFs are where money goes to die because they don't do what you think they should do), and the VIX was down today, so TVIX is down big since it's supposed to follow twice the VIX. TVIX isn't a long-term hold. Long-term it's all over the place -- it doesn't correlate to a 2x move in the VIX; just look at the long-term chart. Many guys I know made a killing on it at the beginning of this downturn since the VIX was so low (sub-20), and then it skyrocketed to around 80. Just a personal opinion, but if you're new to investing, you shouldn't be day-trading stuff like TVIX. If you react to market moves with emotion, you'll have a stroke and your account may reflect it.
I hope everything goes well for you and this thing turns around sooner than later, I try to use local businesses like this when I can, especially now.
Agree can be risky for sure. I tend to think of TVIX as a huge gamble especially with all the politics going on in the background. I mean you really have to basically daytrade or stay on top of it. Not for you - but if anyone else wanted to read more on this stuff (another explanation) - https://www.schwab.com/active-trader/insights/content/exchange-traded-notes-the-facts-and-the-risks
takes a very specific mentality to have daytrading as a primary source of income or attempting that, it's a mentality I don't have so never tried. plenty of guys who have a few good years, but over the course of 3,4,5+ years only the elite few can maintain it. Burn out and losses all over the place. Im into the Buffet school of boring long term investing and this is a good time for that.
You may also want to think of the tax ramifications of some of these "stocks" if you do get into day-trading. Some stuff like MLPs may have you filing taxes in multiple states or filing Schedule K's, etc. that you aren't familiar with. If you're letting your tax guy do it, then maybe no biggie. Just understand what you're getting into.
This may be the easiest trade of all time and I can't benefit because I don't have any money. But the stock USLV provides 3x exposure to silver. It is undervalued and up 27% today. The stock DSLV is the inverse of USLV. When USLV is going up, DSLV is going down. If you short DSLV, you're doubling your money. I'm up 50% in simulation trading. Guys, make some money here!
I'd hold, only because that sees crazy, crazy swings. You get a positive swing and you're alright. I figure you're in this for the volatility.
I don't believe so for normal stocks, I think you can trade EFTs and some securities outside normal hours. My TD account is almost exclusively long term, I don't much if any trading outside of hours on that one.
i was way up, but now like 20% down, but its not the end of the world. I've been mostly cash for a few weeks so am just playing around. I'll take it as a learning lesson. Many thanks! Your lesson helped... though still don't get why it traded so south today when the market is still going south overall...
Yeah, I think after stimulus package/hell even before it, it might be worth the gamble. Unless some miracle happens anyone stuck atm in an ETN should probably just go for it. Obviously if it's seriously bad maybe average more in, but this could very well hit really soon. @JayZ750 & @RKREBORN I think this might be best move if you're super negative.
i have been and remain super negative. Guess will see how much I can stomach lol I’m reading it as if you remain highly negative stay in... if not averaging in more to try and gain back what you lost. Logically that makes sense to me. But the market isn’t always logical...
Right, like if you're way negative you can just keep it and try to regain some, watch it premarket for indicators. The real danger here is if there is volume or not. So what happen today is the feds move on bonds and potentially this stimulus package really screwed this up - like on etfs you typically can fair better - but on these they're directly related to notes, so you're not actually trading the same as an etf/stock Here's an example of why the bottom fell out https://robinhood.com/stocks/TVIX The average daily trade volume was 11 million, and today it was only 6 million, so basically people worried about these not working and concern with feds moves probably caused it to drop. I feel it's going to drop but just watch indicators and make best judgment, you can always rebuy (I am just not sure how deep you are) anyway, once you get out I'd stick with ETFs or stocks etc. Like etns look great but I kind of feel they can get manipulated.
