All major indexes fall over 2% without any major news today. It was more of a methodical but accelerated selling. I guess most people didn't expect it would go this far. ES dropped 46 point which I don't even remember when did it happen last time. Anyway, it was a true blood bath day. I am glad I didn't carried away. I was watching my available funds and picking my entries. Although I entered some positions too early because I didn't expect ES would drop over 20 points. I only realized things were getting serious when my S3 level was broken. I still have some funds left in case the sell off continues.
What I didn't do well was that I didn't plan my stops first. My guideline is to take stops first then enter further OTM positions to recover from the loss. If I don't take stop first and let the losses going further my recover will be harder and take longer time. I need to harden this part of my discipline.
I sold couple VIX call options today as I am learning it. This instrument has large percentage movement and bigger spread. It has bigger volume comparing with most commodities.
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