Based on yesterday's closing I was expecting another push to the upside this morning. When market started to sell after open I thought it was the usual pattern of test lower then buyers take over. Instead market pushed down for about 3 hrs. RUT made about a 2% low while SPX had -0.8%. It then turned into a grind up in the afternoon. Both recovered more than half of their lows. The earning session started that could boost the market's expectation.
Made 7 trades today. The first Ratio RR was based on my expectation instead of the reality of the market. I was afraid RUT would quickly bounce 10 min after the open. My subconscious reminded me it was too early but I placed the order any way. It was the same pattern all over again. Next time I need to pause when my subconscious is telling me something. I must consciously change my bad habits. I didn't sell any regular CS instead made up some IC 2s for existing positions.
Net liq recovered 13K. The predicted liquidity is back up after the RR ratio hedged calls. I still don't have any call positions that could be exited until next week. I expect the current net liq could sustain 2-3% up swing. So I paid another 3K back to ET today.
QOTD: Change is hard at first, Messy in the middle and gorgeous at the end.
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