Comments on: Portfolio Protection Workshop Part 6 – 20 Crisis Trades and Adjustments https://www.philstockworld.com/2020/05/10/portfolio-protection-workshop-part-6-20-crisis-trades-and-adjustments/ Stock and options trading ideas and tips. Daily market commentary in a fun and relaxing atmosphere. Financial News, Trading Tips, Stock Quotes, Option Strategy and Education, Investing Strategies and Market Analysis. Mon, 11 May 2020 15:40:16 +0000 hourly 1 By: pirateinvestor https://www.philstockworld.com/2020/05/10/portfolio-protection-workshop-part-6-20-crisis-trades-and-adjustments/comment-page-1/#comment-8043322 Mon, 11 May 2020 15:40:16 +0000 https://www.philstockworld.com/?p=12248754#comment-8043322 Saguaro- You will find that as you read and do the trades what you are comfortable with. There is no doubt that the trades that Phil initiates are profitable,  BUT I always adjust mine with the questions I have and many times I wait especially when I feel something is really going to tank ie M. I got into M @12 and sold monthly calls and then doubled down to 5 and did the same. If I feel the bottom might fall out I end the trade because company's do file bankruptcy's. Always pursue a trade with how much can I lose and still be comfortable with it. Everyone starts as a beginner and the tips from the contributors gives more insight of how THEY work trades. I found that invaluable also as there is not one way to accomplish your goals. You will find what you are comfortable with given time. Phil is an expert on so many things and if you stick with him you will gain an amazing amount of knowledge and expertise. My other hard lesson was TAKE your profits. If you are happy with the trade and made enough to put a smile on your face, Take it. That's what counts.

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By: saguaro https://www.philstockworld.com/2020/05/10/portfolio-protection-workshop-part-6-20-crisis-trades-and-adjustments/comment-page-1/#comment-8043253 Sun, 10 May 2020 22:56:36 +0000 https://www.philstockworld.com/?p=12248754#comment-8043253 Hi Phil,

I'm still learning, and one of the things I learned through this downturn is that I shouldn't be selling naked puts or naked calls. That means most of your trades are trades I can't do, at least not as you describe them. I can of course try to alter them to suit my own limitations, but, did I mention I'm a beginner? I'm not likely to make good alterations on my own. There have been times when I've asked you about positions I had, and your response was roughly, "how did you get into such a lame position?" I got into those positions by trying to make adjustments on my own. And I bet I'm not the only such person on this list.

Here's a request.

For some of the trades, please consider listing a variant suitable for beginners, without any naked puts or calls, and pointing out that it's *SUITABLE FOR BEGINNERS*.

Here are two examples that may illustrate my point. For both Macy's (M) and ViacomCBS (VIAC) you recommended them at prices that were much higher than they are now. VIAC fell from $50 to $16 (now $18). Macy's fell from $22 to $5.

I'm *guessing* that you might now label VIAC, at $16.50, as good for beginners even though it might not have been good for beginners at $50.  I'm also *guessing* that even now, at $5.50, you might not think Macy's is a good bet for beginners.  Of course, my problem is that I don't know.  That's why I could use your help. 🙂

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