A trader made millions on Tesla and Amazon call options, then lost it all by repeatedly doubling down on losing positions instead of cutting losses. The speaker warns that chasing market waves without a risk-management plan is how fortunes disappear.
He's made like 4 million, $5 million, 20, 22 to even probably now he's blown it all, plus more, because he didn't have a strategy. All he did was buy long Tesla calls, buy long Amazon calls. Made tons of money on it. And when it didn't work, he kept doubling down. And I was like, that's not really a strategy. You're just riding out a wave. When that wave pulls back, you have to be able to take a step back and let the wave settle before you start burning more capital.
