Long ago, monied gentlemen of property would take to stockjobbing, or perhaps in the casino, with one intention: to make gargantuan sums of money. This was before institutions had the means to fend off vicious assaults. What these gents would do is simply employ ‘Martingale Strategies’ in whatever they were betting on, pouring limitless amount of money into their venture until it became profitable. They quite literally manifested their own destinies.
Ladies and gentlemen of the plebeian reader class: this is precisely what I am doing now with my UVXY.
See, over the years, I’ve accumulated an immense amount of money. Heck, this website alone affords me with more annual income than 97% of you dog-slobs out there. So I am sincere when I say, “I will book a profit on UVXY one way or another.”
I bought more UVXY and have now tripled down. New cost basis is $15.50.
As you were.
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Things are getting interesting ?
Good luck ?
I have a similar cost basis, but am only just now in my first tranche. Size and mental positioning for all kinds of reindeer games which somehow would stave off a big move until January. That said VIX shorts will have a hard time at least not have one strong rally against them in December because front month expiration is so far out (21 days)…but after watching bitcoin lately we know anything is possible.
Time to short tech nerds with extreme prejudice.
Martingale? You’re kidding, right? Coin-flipping is a good example of a martingale. In theory, if your wealth is totally in stocks and stocks follow a martingale, so will your wealth. On average, you will neither make or lose money in a martingale strategy, so what’s the point? Thankfully stocks don’t follow a martingale, which means in order to make money over time, you’re not actually following a martingale as you implied, no?
I once read that sarcasm cannot be detected amongst people with low IQs. What do you think about that, bitcoinboy?
Great timing. Wish it works out for you.
I’ve got car worth (not a ferrari, more like honda/hyundai) in UVXY @$16.11.
Vix barely moved and all your longs are fucked today.
Dr Fly is a true patriot! HU-RAh!