Ken have you seen the memes for Martingale on Wall Street bets? In March or April You said stocks like MGM, MGP, ERI(CZR) and PENN were a once in a lifetime gift. Imagine if we held on, my position in them would be worth $950,000
Yeah I remember saying MGM was a gift at 6, still kicking myself for not playing it right. It's all about playing extremes with an edge, recognizing overbought/oversold if there is such a thing. I think ridiculous multi billion valuations like TSLA are way tf overbought but I'm not going to short it. I still think the market is frothy up here but I've incorrectly thought that for most of the run up since spring. I thought covid would have Some negative impact. I still have a hard time believing a catastrophic global pandemic that's causing lost sales and economic hardship has no negative impact on markets and instead rallies to record highs. Seriously wtf. Cramer's had some good insights like his covid plays earlier. But at least if and when a selloff occurs I'll be ready to trade size in inverses. In the meantime I'll just buy what goes up. Of course now that I bought a bit today including AAPL ev play market will drop soon lol. I am hedging longs with a few inverses like SQQQ TZA UVXY SDOW
Building losing positions? Check out the page 2 post 1 of this thread: https://www.elitetrader.com/et/threads/martingale-system-in-trading.146187/page-2