The past week was the 1st full week of trading. Indices had large swings. SPX locked in its 2nd week of red and closed right at 50 SMA and mid of BB mid. Are we going to see the same pattern of last Sept and Dec of a head fake to the upside? Market will show its hand early next week. However the long term overall trend is still up. I will stick to it until otherwise. It was a small week for me with a $770 profit. Off the two trades expired one was a loss recovery from a stop loss from S5 earlier. I had many profit lock trades in grains in varies expiration dates.
I wasn't aggressive enough in reducing my grain positions. I rolled over and reversed many contracts to lock in profit but I still have too many positions in corn bear calls and wheat bull puts. I will try to reduce some on Monday before USDA report to reduce my risks. It's more than likely I will get hit with any large swings after the report since I am positioned in both sides. So it's better to exit out some positions then decide what to add back when the direction is set.
No major errors were made this week. The emotions of frustration and anxiety are still present. Remember it's a numbers game and decisions are just business decisions.
I am going to join a small chat group for Karen's trading style. It's a progress long overdue.
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