This kind of days usually generate unusual market movement. Fortunately all of my ES options sales expired worthless. June became profitable and recovered most of May's loss. Not bad for a $2500 return of selling puts. It could be even better had I handled FED meeting day better. I am learning to be more disciplined and building confidence.
Today is also USDA's monthly inventory and planting acreage report. It's a big event for grains. I held my mini soybean short for too long. I was only focusing on adding to my position instead of revering when the trend changed about a week ago. In position trading reversal usually recover some of my loss from a stop out. It come with planing and flexible thinking. I was lucky they pushed the soybean price down twice before hit my order, then it jumped up way out my upper stop level. However, it shouldn't be a $490 loss if I had planed ahead and think about reversal instead of fighting the trend.
No comments:
Post a Comment