A few weeks ago, I decided it was time for the market to correct and I jumped into UVXY. Big mistake. So far i’ve just been dragged down day after day even if the market is down sometimes. It seems that these VIX instruments ONLY drift down, even when the market is flat.
A few mistakes I made:
-Not even waiting until the VIX was at my target level of under 12, IMPATIENCE
-Basing my VIX investment on what I saw in the nasdaq and iwm, NOT FULLY RELATED
-Trying to be a market hero by trying to call a top without seeing more confirmation and volume
-Not cutting my losses short when things turned against me, now I’m in hope mode while so many charts indicate the market will keep moving up.
Oh well, the cost of education.