RE: (VIDEO) Markets Are Upside Down: Updates On Stocks, Bonds, Gold, Silver, Crypto, MORE! By Gregory Mannarino
I post trades at my blog here at my blog and I can give you some help. The biggest mistake options traders make is to enter a trade at the wrong time because if you do that and the stoc you are buying/shorting via an options contract turns against you, you are not only dealing with a bad price entry, but now you are in trouble because of the "time premium" element of options trading. Go to my blog and read my entire take on SLV as I also entered a long position 1 day before Greg entered his. Because of today's drop and the fact that Greg bought a gapup move on Fri...the long side of his trade is in "dire" circumstances just because of the time premium being taken out of the trade today. Greg "should be" able to explain how he handled this morning's "rush" out of SLV n GLD. So far both positions are open with no new hedges listed. So I hope he will explain his reasoning.
Thank you so much for your response and your help . I hope to get a whole lot more !
I just noticed you sent me to a page with Greg's publications . The problem is I have literally bought a book off the shelf in the bookstore from him before . Never got it read . I'm a really bad realtor and more of an auditorium a learner . That's why I love Greg's video blog . I really like his steamit a blog because he keeps it short and simple .
I sent you that link because in most of the videos Greg posts he tells you to go to his web blog to see what he is 'actually" doing. He told me he closed out the short side of the SLV trade at least. But that isn't what his blog says he did as he has the trade still listed as a straddle. And then today with the big move down a "professional" trader would likely make adjustments or make commentary about any damage that was done on a move like that. There was definitely technical damage done early this morning on SLV. I outline it at my blog. But in accordance with my promise to Greg, I won't drag that commentary to his blog...in fear of gettting censored of course. You have the "right" to see an opposing view. Let's hope Greg remains "civil" going forward.
Get those downloads Gregory has I got them and they worked I am not a diehard trader yet like him but if you trade slowly and study all the charts you will eventually get them, like one day he did some weird calls (straddles) I did not understand but started to listen to him and read now I am ready to do these. He helps out a lot. Just take your time. Just what I did hope this helps
Well, since Greg admitted that he opted completely out of the SLV short side of the trade and I personally didn't see him mention that via the content of the actual blog or videos he posted, I'm sure many were "confused" about how he actually did handle it. Since you now have a decent understanding "perhaps" you can outline your next trade where you follow Greg. I'll add you to my followed list. I'll be anxious to learn what Greg is doing myself...even if one of his viewrs has to explain it becuz he won't.
Just follow his website I can not give financial advice but he does mention all the time to do your own research, I would not know how to respond to a question like this. I just watch and learn he has some downloads you can get and those helped me set up my account with Fidelity Investments platform he uses. I dont trade like a mad man I have just started so I take it in small steps at a time hope this helped.
The information I gave was taken directly from his website. It "clearly" states that each trade should be initiated as a straddle.
https://www.traderschoice.net/money-page--stock-picks.html
On Fri of last week at on a video Greg posted on Utube he replied to a follower that his SLV and GLD trades were in fact opened as straddles. Then, he changed that before the market even opened on Mon and said that the SLV position at least was opened only as a long position. No big deal as the stratergy itself is pretty much a gauranteed losing strategy and in fact Greg closed out the sell part of his trade with a complete loss of the $150 he traded..."if" he was the "actual" buyer of the 26 puts total that were purched at teh Sept expiry $14 strike. We'll see how the long side of the trade works out now but he is also down on that trade. These are not the type of mistakes "professional" traders make. I also played SLV and GDX to the long side only and closed out the SLV trade yesterday with a 40% gain in a short term trade...and a 75% gain in a trade that was set up to be a "hold" for a month. Mon morning changed my opinion after that big drop. Not Greg's though...apparently.