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RE: (VIDEO) Markets Are Upside Down: Updates On Stocks, Bonds, Gold, Silver, Crypto, MORE! By Gregory Mannarino
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.