New Lows Of The Year 9-30-22

 The majors kept falling to their new lows of 2022 except for the small caps. SPX closed right at the 200 SMA weekly. YM and NQ both breached this level on the weekly closing. The inflation numbers stayed high. The job market is still hot. Fed wants to press the economy down. They tend to overdo it in both directions. 

The IB Netliq is down 7K from 99K to 92K for the week. The leverage is up slightly from 588 to 598. The realized P/L is only $1467. The cash collection is only $270. I didn't have many hedges worked out. 

For the month of September, the netliq is down 34% from 140K to 92K. I was adding and rolling the BCs actively. The result shows that I still wasn't aggressive enough. I was afraid of a bounce or rally like in July in the back of my mind. The realized gain/recovery is $91K. Most of them were expired SCs. The SPs went deeper into ITM. Hope the expected seasonal rally will recover IB netliq. The premium collected is a mere $230.  

The 0 DTE worked with a couple of S/Ls. The vol is high. ET had no trade since I had to move it to IB. TOS collected $1K. IBP made $400 for part of the week. 

Overall, it was a volatile and challenging month to trade. I need to put my bias aside. Be more objective view the market directions. 

Down To June Lows 9-23-22

 The major indices closed another negative week. They are down 5 of the last 6 weeks. The selloff intensified after FOMC on Wednesday.  SPX, RUT, and NQ tested the lows from last June and held them so far. Dow closed below the June low. It holds at the 200 weekly SMA. The sentiments and technicals are very bearish. We may see a bounce or consolidation next week. 

I missed the weekly review last week due to my traveling to DC. The following numbers are for the 2 weeks. 

IB Netliq is down 28K for the last 2 weeks. It closed at 99K on Friday. I have tried to reverse my LP to SC so many times. All of them were OFTM. I need to identify the levels more closely. The leverage increased 25%, from 401 to 535. The realized P/L is $68K. They are mainly from expired SCs. But the value of my total options increased by $27K. The value of SPs has jumped a lot during the selloff. The cash collected is - $2K. I had to spend 2.6K to roll 2 SP last week. There were a couple of hedges paid off and the others expired worthless.      

The 0 DTE took a big blow in the ET account. I had 2 SPs split from the 2 SCs on the day of JP's Jackson Hole speech on August 26. A mistake I made to roll the SPs. I kept rolling it as SPX continued to fall. I didn't fully understand the rule of Day Trade Calls. I made 2 trades on Sept 22 to reduce the SPs by 5 points. It triggered another Day Trade Call. The ET account was restricted to closing positions only on Friday unless I put up $167K cash to remove the restriction. I couldn't come up with that much cash on the same day. I tried different approaches to resolve the problem but ET won't allow any of them. The spread had expanded from 80X to 325X. The two spreads were assigned for $32500 each. A total cash loss of $65,000. This is my biggest cash loss by far. It wiped out my total gains for 2022. The loss is about my living expenses for a year or the cost of a luxury car. I really hate my behavior and lack of willpower. 

I am going to sit in the penalty box in ET for a week. I will likely transfer this account to another broker to erase the Day Trading Calls. 

My hard rule is "No stop no trade" now. 

Am I self-distructive? 

The Support Lines Held 9-9-22

 It was a short week after the Labor Day long weekend. The major indices staged a turnaround. SPX and RUT hit their support at 3900 and 1790 respectively. The price action matches the seasonal trend so far. There could be a pump and dump in mid of Sept. 

IB Netliq is up 5K to 128.6K after returning 10.5K to ETQ. The realized P/L is $12.5K including some rollouts in August. The leverage is up 10% from 328 to 366. The collected cash is $1897. There were two hedges paid off for over $2K. It was a reasonably good week. I was a bit too heavy in SC at the end of the week. 

The 0 DTE was dragged by the ITM SPs in ET until the end of the week. The total cash collected is only $2,180 since ET didn't bring in any money.  The None stop rule has cost too many potential profits. 

Lessons Learned:

1. I have improved my patience. I was able to wait for price waves to come to me. I shall continue to practice it consciously. 

2. I remembered to place my stop loss orders right after each of my orders get filled. 

Another Storm Is Brewing 9-2-22

 The major indices booked their third week of this downturn. They tried to challenge their 50D SMA but failed again. The NFP on Friday produced positive reactions initially. The bears came in mid-day and reversed the course. The downtrend is clearly present. The seasonality is indicating possibly further downside.  

The IB Netliq is up 14.3K from 127K to 141.6K. The market didn't have more than 1.6% swings. I was actively adjusting my delta positions. The leverage is down 15% from 386 to 334. The realized P/L is $13,661. The collected cash is only $271. There are some SC positions off the book for the week. I will continue to watch my position sizes. I haven't been able to return the additional 20K cash back to BOA yet. 

The 0 DTE performed poorly for this week. It collected $1450 cash only. It booked a P/L of -$14,420. The loss was from my mishandling of ET on the Jackson Hole's speech. I didn't have a stop loss plan when I rolled down the SPX SC positions. It dragged the account down for over a week so far. I got into this hole right after I unwinded the TOS SC position. 

Lessons Learned:

1. I have entered SL orders most of the time. I also took stops a couple of times. However, I wasn't consistently placing stop orders. The ET SP was a good example. The lost time and opportunities affected the account negatively. 

2. Be patient and disciplined.  I started to notice my anxiety and the urge for action. I was able to remind myself to be more patient. But it hasn't been consistent. I need to more consciously practice self-discipline. 

3. My goal is to consistently place SL orders and enforce them. I shall take the short pain to void the long pain and regret.