It was a quiet week until Friday's job report came out. I was bored to death before. Friday's 1.4% down in SPX/ES was perhaps the largest down day in a month. It may be a beginning of a pull back until Fed FOMC by mid of this month.
I was much less active for the week since most of indices were range bound. It was profitable of $1.2K. I made another mistake of buying IWM instead of selling it in personal IB. I was able to exit it with b/e next morning. I over traded yesterday with 8 trades on the first down day. My formulated approach was selling far OTM first at beginning of a pull back, then sell near term when selling intensifying or near exhausting. My unconscious decision of selling near term contracts perhaps was affected by lack of available margin. I still have too much margin tied up in wheat and soybean. Grains continued down trend movement made me unable to do much with it. Wheat positions are still over 15K underwater.
The recovery process has been slow but steady. Must be more patient and avoid big risk. I am $10K positive by the week end from $20K down at last year's end. However, the cash balance is not much better which still puzzles me. I will site down to figure it out after the guests from Yunnan leaves.
I must take it slowly next. Volatility may be increasing. I should increase my available margins by closing some profitable positions first. Be aware of my own emotions when the market is hot and thinking of bigger pictures.
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