The expected Santa rally didn't happen in this Christmas-shortened week. The bears are in control. The major indices closed slightly lower for the week again. They are still below their 20, 50 SMAs. We are into the seasonal pop and dump in January. Would this January be different since there was no Santa Rally?
The IB Netliq increased 6K from 183K to 189K, +3.3% for the week. The realized P/L is -$10878. There were a couple of long-term DITM rollouts to next Feb and March. The collected premiums are $10,980. Several of my BF hedges worked and expanded. The added positions from the BF expansion presented more risks. I need to reduce these positions quickly.
I reduced trading 0 DTE for this week. The market was jumpy with less volume. TOS collected $1,250 for the week. There is $800 from one 1DTE IC. I broke the S/L rule. So it's a bad trade. There were no trades in the IB account.
Lessons Learned:
1. The morning meditations helped to keep me calm and focused;
2. My stop-loss rules are relaxed. I need to have a clear plan for adjustments and stop-loss rules. It should be one hedge or adjustment only. Then the stop-loss must be enforced.
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