I didn't write a weekly review for last week due to the Luna New Year. The market ended with a solid green week. SPX and RUT closed above their 50 WSMA for the first in a year. It's a bullish sign for the market. We have yet to see a January selloff as the seasonality indicated. The slow inflation rate and the Fed's slowing rate hike are positive developments. However, the major resistant areas are right above. The FOMC meeting next Wednesday will be a catalyst.
The IB Net liq is down 19K from 226 to 207K. I didn't read correctly for the rally this week. SPX swung up and down wildly. The expansion of BF positions got squeezed deep into TM. The realized P/L for the last two weeks is -3.3K. The premiums collected are $5,375 for the same period. The leverage is up 14%, from 177 to 205. VIX has been below 20.
The 0 DTE didn't perform well. I failed to enforce my S/L on the 18th in both IBP and TOS. The snowball kept rolling. The BF expansion added more positions to the snowball. TOS added $1.1K only for the two weeks. IBP collected $3.34K for the same period. The cash was mainly from BF expansions. It's not realized profit until these contracts are fully closed.
Lessons Learned:
1. I am still not well disciplined to trade 0 DTE consistently. I will stop trading it until I can resolve this issue.
2. I need to apply the -1+1 rule to the BF hedges.
3. Better manage my positions before the end of the day. Start to roll the DITM positions in the early afternoon. Use the market order to void losses.
4. Continue to practice meditation every day.
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