During the first week of April, I run into two options expiration dates on the month end and weekly. It was a profitable week with over $2100 profit and no losers.
I spent a lot of my time monitoring grain market. I followed my rules of engagement most of time with commodities. I was patient for the most of the week. But I let my guard down when I saw Dirk Friedrich @veenmr1 posted his CL and ES counter trend options trade. I took higher prices than his but they were not my rules of engagement and risk tolerance. I often thought his entries were too aggressive and didn't follow his trades. However, he has been winning some this type of trades with high premiums despite his recent major draw downs. I guess I was envy his higher profits per trade. I will have to stick to my rules and risk appetites.
Last Friday's 30 points flush created a bearish sentiment and bear engulfing pattern. I will wait to see what market reveals next week while stay on my plan of risk control and patience.
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