The bear rally started on the first trading day of Oct after the big selloff on September 30th. The major indices gained more than 5% in the first two days of the week. The last time the market surged this much was the Covid crush in 2020. I was caught in the rally with more SCs. Then, it gave back more than half of the gains over the previous three days of the week. We may see a new low next week if the seasonality plays out. An end-of-year rally may follow the last leg down.
The IB Netliq is up 3K to 103K for the week. It had a big swing during the rally and fall. The leverage is down from 533 to 517. The realized P/L is $8132. The P/L was mainly from the unwinding of the SCs. It is basically a wash. The collected cash is only $240. No hedges worked this week.
The 0 DTE suffered another setback because of my mistake again. I failed to take an S/L of SCs in TOS on Monday. I rolled 5 3690 SCs during the 2.6% surge on Monday. Then, the SCs were ITM during the 3% pop on Tuesday. I was forced to roll up and out into Wednesday. I decided to unwind these positions on Thursday to void NFP risk on Friday. I spent $3.5K to close three of the five positions to make the risk more manageable. Although the positions were OTM by the end of Thursday. I paid dearly for my mistake. But I feel good for taking the loss. I reduced my risk. The rest of the trades were winners for this week. TOS account lost $2430 this week. IBP gained about $300. The net loss is about $2100. I can recover the loss if I follow my rules strictly.
I need to be more aggressively reducing the positions in IB. I have been peddling in the mud for over 6 years. I am getting deeper in the mud. I will make stops in the reversal positions once they are wrong. The system is not working without risk control.
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