The major indices closed this week on a positive note. They all closed above the 50 SMA for the first time since last April. This is a positive improvement. It also agreed with the seasonality. However, The weekly downtrend is still intact. The upper trendlines were touched yesterday before the selloff. The bears could attack at any time.
My IB suffered a blow during the breakout this week. The Netliq is down to 71K from 87K for the week. The leverage is up from 615 to 757. It's dangerously elevated. The collected cash is $2470. It's mainly from these forced rollouts. The realized P/L is -$20345. This system is draining my time and resources. I have to think of a drastic way to reduce the size of the positions.
The 0 DTE is still my bread and butter. It collected $4822 cash for the week. That included $2100 from the two 3965LC hedges for the breakout on Wednesday. I failed to place the stop orders on Wednesday and was forced to roll out the SCs in both accounts. I placed stop orders on Friday. I was stopped out twice on the put side. I was chasing the put entry when the SPX was pushing up. I then took another PS entry after the first stop out. It was a revenge trade. It got stopped out again. It cost -$870 in TOS.
Lessons learned:
1. The stop loss orders are a must-have.
2. Taking stops didn't feel as bad as I feared.
3. With the hard stop in place, I must be more selective and patient with my entries.
4. My indecision in the IB account is costing too much. I have to think hard to find a solution.
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