Hello friends,
As you can see, I would have shorted 700 with a sl of around 770 originally. I would have rode down this vomit fest deep in the money, and I would still not close my shorts or sell my puts if I was in that position. However, my stop loss would be lowered to 480 for about a 30% return per contract locked in. That's how I currently see that trade which I did not take. I am a btcusd trader and will open a desk in the next year doing that.
Trading other assets is not my concern right now, but I can do it. Anyways, I have no idea if we have bottomed, as you can see we are very close to the level I originally thought we would go to. That's the beauty of trading though, I only have to have a good idea for a window of time, I don't need to know or care what TSLA does for the rest of my life. I would have simply nailed this opportunity and that would have been good enough. That's the key to trading: only trading the perfect setups and not overtrading.
One of my favorite setups is shorting bubbles once they start a downtrend. This was a primetime example of such a trade. TLRY a year or so ago was another one I would have done and also watched. You can look at my history to see that as well.
If my "stop" is hit, I will have no real reason to continue looking into this market as it would have already made me more than enough money and the bulk of the opportunity that was there at the start of the trade is simply gone. I would look on to other opportunities or simply sit in my new piles of cash with a big ol smile on my face and patiently wait for months if necessary to place the next trade.
Thanks for reading,
Shkreli
As you can see, I would have shorted 700 with a sl of around 770 originally. I would have rode down this vomit fest deep in the money, and I would still not close my shorts or sell my puts if I was in that position. However, my stop loss would be lowered to 480 for about a 30% return per contract locked in. That's how I currently see that trade which I did not take. I am a btcusd trader and will open a desk in the next year doing that.
Trading other assets is not my concern right now, but I can do it. Anyways, I have no idea if we have bottomed, as you can see we are very close to the level I originally thought we would go to. That's the beauty of trading though, I only have to have a good idea for a window of time, I don't need to know or care what TSLA does for the rest of my life. I would have simply nailed this opportunity and that would have been good enough. That's the key to trading: only trading the perfect setups and not overtrading.
One of my favorite setups is shorting bubbles once they start a downtrend. This was a primetime example of such a trade. TLRY a year or so ago was another one I would have done and also watched. You can look at my history to see that as well.
If my "stop" is hit, I will have no real reason to continue looking into this market as it would have already made me more than enough money and the bulk of the opportunity that was there at the start of the trade is simply gone. I would look on to other opportunities or simply sit in my new piles of cash with a big ol smile on my face and patiently wait for months if necessary to place the next trade.
Thanks for reading,
Shkreli
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.