With Iraq fighting caught people's attention equities broken down and energies broken up. ES had a 16 point range day only pull back some at closing and Intel's better earning announcement after hour. I had 2 small bull puts for month end and before July 4th. I found it works better to sell from further date first on a pull back. I can get better premium in deep OTM and a chance to watch the depth of the pb before entering near term positions. ES is filling in the LVA of 1931-1915 of Sept contract.
CL had an over 2% pop on Iraq news. It reached $107 for July contract. My almost closed bear call are 3X underwater in a day. I may have to leg up and roll over. It was a counter-trend trade I shouldn't take in the first place. NG was up 3% too. My put target was hit and left a call which need to get out soon if NG break out 4.85.
Wheat went down again but didn't go too far. I am over 20K down in all of my wheat positions now. It make my stomach sick. Corn had a short covering since it reached January low. Soybean had a 30 point sell off which put my another undisciplined position of 1390 underwater.
It looks like I still have a long way to go in trading professionally and building a iron strong discipline. Quote of the Day: Discipline can make or break a trader.
No comments:
Post a Comment