Replies to post #1643 on ProShares Trust Ultra VIX Short Term Futures ETF (UVXY)

[The cook]

I trade with a cash account, but I always wait until funds are settled. Guys like Eric are just asking to be bag holders. You can feel sorry for them, but by now they should know this. Especially something this volitile.....

[eric4x]

Don't worry. My plan is working for me.*

I divided my shares in half, so I could trade it back and forth by selling only half and riding the other half down. It's only a small amount, or else I would divide it into even more parts. The problem is that it moves up and down too fast sometimes to keep up with it, so I want to alternate between two halves. This is the only way I can see to make it work.*

The problem I was complaining about is that the broker website puts up an automatic warning, even though it doesn't apply to my case. If I try to buy with two limit orders or sell with two limit orders (at different prices), I get a message "This looks like a duplicate order." If I sell the half of my shares with settled funds, the website puts up a warning about the other half. I just have to keep track of what I'm doing very carefully, because the website isn't going to do it for me.*

After this recent experience, I was just thinking about how well everything was going. The share price moved way up, and I sold the half I intended to sell. Now I am ready to buy back again, as soon as the price gets low enough.*

Back in November, I wrote this:

#1153 Don't EVER buy UVXY with unsettled funds!* eric4x 11/25/12 02:05:44 AM

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=81786233

I decided that there were two problems here. First, I was trading with the entire amount at one time. Dividing it in half solves that problem. The other problem is that I was trying to alternate between UVXY and XIV, and it was moving too fast for me. As good as the XIV deal looked like at under $19, I wasn't sure I could keep up with the settlement dates.*

I know it seems backwards. I'm afraid of getting stuck holding XIV, while clinging to the UVXY. But remember, UVXY gains at twice the rate. It was working for me around the time of the election. I just got stuck then, due to problems that I believe I have now fixed.*

In any case, I'm adding cash to my account again, and the total sum is about the most it's ever been. So basically, I'm "back in business." Although I lost some money last year, I also learned a lot. I'm doing much better now than I was a year ago. Of course, I could still make some big mistakes. But it's going well for now.*