No, he can control his leverage better. It is much too high if he blew 80%. He should never been put in that position. He should be able to keep trading and control his leverage.
Canton, last I heard Roswell had been overrun with Mexicans. Say, are you the "head" nurse at your facility?
You don't. Take what's left off the table. Step back. Let head and heart clear. And then start from scratch.
I don't know what it is with your trad3r alias, but it always is a question about losses. I wish I'd've held my short in NQ, but, incidentally, they sound like they went beyond reg T margins to do this. Even TQQQ that I sold at 79.75 went to 62 about, and yet, this still isn't 80%.
Im talking about tons and tons of call options. Maybe they expire worthless if we gap down to sub 1100 or so next week with the downgrade.
We've already moved down a hundred points. The market was already anticipating this news. Not that it's nothing to worry about, but the downside has already been priced in. S&P's silence has cost people a lot of money, and all they've really done is ruin any confidence investors might have had about our ability to manage our fiscal policies. Downside shouldn't be anymore than the lows we reached today, but you could see 1150, and that could scare people. I've been cautious myself, and I'm sorry if you're in another logjam over otm call options. Spyder? ES calls? Whatever the case is, I'm sure they thought it was worth it. Maybe they learned something from it.
This is a performance triggering event in which losses sustained are so substantial that you'd want to invest passively until you get to your targe return. The overall probability is extremely low that you'll ever make it back, so take what you have and put it into some index funds.
To answer the OP question, unload your long position, begin short selling on this new recession that would last at least 16+ mth. I made $3.2K just in 1 day on shorting 1 block of PVH