The Memory Day shortened week ended with wild swings in ranges. The majors gave back about 1% gains from last week's huge rally. The majors held their daily 20 SMA but below their weeklies. They are basically consolidated in the downtrend.
The IB Netliq closed at 122K plus the 5K from ETQ. It's up 12K for the week, thanks to the consolidation. The realized P/L is 5K. The leverage is down to 376 from 457. There was only $500 cash collected. I have a $1.4K assignment due to a mistake in a rolling order quantity. Although I recovered it with extra profit yesterday. It was still a mistake on my part.
The personal accounts experienced set back as well. The total cash collected is only $1715. I made a big mistake during the wild swings on Thursday. I was overconfident that it was going to be a down day since it opened lower. It turned out to be a huge reversal. SPX started -1% to +2%. I was emotionally stressed. I even forgot to place the hedge orders like I normally do. I started to roll the threatened short calls during the last 30 minutes at EOD. I didn't have enough time to roll the 3 4170SC in my Fidelity account. It ended up ITM. It was a $1.9K(3x$630) loss. The total loss is over $3K including the 2 assigned in IB.
The lessons learned:
I was too emotionally stressed during the big market swings. I didn't even realize my emotions. I was overconfident on the levels without having a contingent plan, including stop-loss orders.
I need to focus on the process of trading my system. I should start the day earlier and get ready to trade before the market opens.
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