The major indices staged a big rally after the Fed hiked another 0.75% interest rate. The last quarter's GDP booked a 0.9% negative growth. It's the 2nd consecutive negative growth quarter. The market rallied again. SPX gained about 6% for the week. It's retesting the high of last June. RUT rallied less than the others. The majors closed their best month for this year so far. The results basically matched the seasonal trend. The weekly and monthly bear trend has not been broken. August could be a down and choppy month seasonally.
I acted poorly this week. The IB Netliq is down to 56K. That is the lowest number I ever had. The leverage shoots up to 995. The highest recorded in my book. The weekly P/L is -$34052. The cash collected is $6852. I have too many positions on. The IB account can't handle large swings.
The 0 DTE was doing well until I failed to enforce the stops on the Fed day. I started to try the 1 DTE IC this week. It ended with 1 win, 1 BE, and 1 loser. I didn't enter the stop-loss orders again. I am really mad at myself now. I keep using other tricks to avoid the stop losses. It ends up costing me more losses in terms of money and time opportunities. I only collected about $3K cash. But booked a 22K losses in rolling the losing positions.
Lessons learned this week:
1. It's hard to change a bad habit. I have to keep trying to get it right;
2. The key is still the stop loss orders. I did some and failed some;
3. Must reduce the position sizes in the IB account.
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