Market gave me a gift in the last trading day of the year. It was what I had hoped for going down right off the gate. But I didn't handle the gift well. I noticed that I wasn't calm. I even went out for a few minutes to try to cool myself off. I didn't follow my plan of waiting after lunch to exit the RUT 1360 ATM bear call. I moved my exit target up when RUT started to bounce back after 10 AM. I started to thinking about the possible big losses or forced to rollover. I totally forgot my plan. I have a tendency of predicting one out come instead of 2-3 possibilities. I need to watch major support and resistance levels instead of minute by minute price movements.
Made 11 trades. Closed one RUT bear call ATM which is what I needed to reduce my margin pressure. I rolled SPX 2235 in late morning. I didn't think market could touch it without looking at the distance and percentage. It actually touched it in the afternoon session. Sold couple Feb 3 and 4 SPX bull puts. Also used ratio hedge to the down side since I have too many naked bull puts. Overall, it was a good day.
Net liq recovered near 6K. Margin ratio is at 87% with the new measure. The bleeding was stopped this week with a small $880 gains. I will review Dec and the entire 2016 over this weekend. I have learned and improved a lot during this year and failed in some key areas as well.
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