The major indices ended with another losing week. The attempted rally after the CPI report failed again on Friday. Thursday was one of the biggest reversal range days in 2022. SPX had a 5.5%, almost 200-point swing. It gave back most of the gains by Friday. SPX is hanging on the 200 SMA weekly while NQ and RUT have been below it for the last 3 weeks. The downtrend continues leading lower.
The IB Netliq fell below 100K again after the 5+% swing on Thursday. I overreacted to the poor CPI report before the market opened. The leverage is up 13%, from 483 to 554. The realized P/L is -7.1K. The P/L had 10K gains before I mishandled it on Thursday. The cash collected was $4K. It had a 1K hedge win and 1.8K from rolling.
The 0 DTE system had a positive week. TOS booked 2.3K cash. It had the largest hedging profit of $3.2K on Thursday and the largest S/L of $930x3 today. The market S/L was set at $390. The IBP had an S/L order that got skipped during Thursday's rally. I had to roll the 2 SCs to next Monday. The account collected $882 for the week. It was a roller-coaster week.
Lessons learned for this week:
1. Stay calm and make a plan before major news events. I was pretty sure the CPI report was going to drop the market. I failed to consider the opposite possibilities.
2. Stay disciplined. I have been placing S/L orders for every 0 DTE trade this week. That's major progress. Stay on the course. I have noticed that I had fear of losing some time.
3. Be patient. Watch for the trend and levels before entering any order.
No comments:
Post a Comment