Guys, if you have long positions that you don't want to exit, the best strategy to protect it when the market is going down is to get put options on that very same equity you're holding. That way, if the market goes down and you lose money, the put options will make up for the loss, and you can hold onto that trade until it returns.
Trader-101 OP : and then one it's it does the reversal you sell your put option right it back up for your profit
LuckyStarter : Do you think the negative trend will go on much longer or just today?
Trader-101 OP LuckyStarter : I think the feds are still pumping money in with that said I don't believe that it's going to be a constant trend but it's good to secure profit pull your profits and reposition either go parish or by the bottom and go bullish I would position tonight right before closing market what I'm doing I'm going bullish and I'm cashing out early I'm not holding it most of the day cuz Fridays are sell off days
LuckyStarter : Got it. Thanks. Today’s market is really volatile. I took a nap at 12:30 and missed your posts. By the time I woke up, which was just an hour later. 2 grands already disappeared in my account.
Trader-101 OP LuckyStarter : telling me about it I've done had four different options on Tesla some put some calls I sold puts I mean I've got a lot of tricky plays right now