The major indices were rangebound the first four days of the week. All eyes were on J Powell's speech in Jack Hole. The CPE Index and Personal Income/Spending numbers were slightly better than expected. J Powell's speech on Friday broke all the hell out. He didn't say anything new but had a somewhat hawkish tone. The market started selling off after an initial pop. The majors ended the day down from 3.3%-4.5%. It looks like the beginning of another selloff for the market. The downturn matches the seasonality as well. We are in the dangerous zoon again.
The IB Netliq is down 1.4K at 126K. I sent 20K back to BOA as planned. The leverage is up about 15% from 335 to 392. The realized P/L is +$4640. The cash collected is a mere $700. I plan to aggressively adjust my positions with the delta measurement considering the expected pullback. I will try to reduce my bullish positions as soon as this Sunday night. I need to correct my habit of being late in the game. I have to record the delta dollars of my positions.
The 0 DTE performed lower than expected. It was mainly due to my failure to enforce my rules. The system collected $2,460. it booked a loss of $2610 after Friday's rollout in ET. I fall into another trap with the split from SC to LP in ET.
Lessons Learned:
1. Be patient. I have improved somewhat with consciousness. I tend to act too early during a volatile market. I often get fooled by wild swings.
2. Be proactive in adjusting my positions when the market condition changes.
3. Look at both trees and forests. I started to mark the levels of EMs which helped me to see the bigger pictures.
4. Practice self-discipline in every action.
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