The Debt Celling Is Still Pending 5-26-23

 The major indices had mixed close for the week. NQ and SPX had a great week. Dow and small caps were down for the week. I'm curious how the divergence will unfold. The debt ceiling issue is still pending. The market seems to believe it will be resolved. QQQ and SPX ended with their weekly new highs. 

IB Netliqs experienced ups and downs. It ended up at a new high of 350K, up 3% for the week. The options' value set a new low of 143K from 152K, down 4.5%. The leverage is down slightly from 74 to 71. It's another new low. The realized P/L is only $3345. The collected cash is $2345. I refrained from entering BFs as planned. The total trades are 75 this week. SPX reduced 1 SC only. RUT had 1 less on each side. The account is in the right direction. I need to keep the momentous going despite the wild swings.  

The two small accounts didn't get much done. IBP had one BF closed. It collected $1147 for the week. TOS had no BF. It had $150 only. The total cash is $1297 for the week. There are two BFs carried into next week. I am rethinking using a different strategy for these two accounts. 

Lessons Learned and Plan 

1. I started to draw the levels of EM in the morning. It helps me to get a bigger picture of the day.

2. I use the S/R lines and EM for my entries. 

3. I am more aware of my emotions during the trading day. 

4. I use the time of the day and price levels for my patience. 

A Positive Week Of Return 5-19-23

 The major indices closed this week in positive territory. They broke 2-week losing strikes. SPX is on the edge of breaking out the range of 4050-4200. RUT is legging from the other indices. Despite the debt ceiling and inflation, the trend has been positive. 

IB Netliq is up 2% from 333K to 339K. It wasn't a spectacular week. The options' value is down 2.5% from 156K to 152K. The leverage is down from 87 to 74. The number of positions didn't go down strangely. The realized P/L is $8865, smaller than last week's $22K. The collected cash is only $1248. I tried 1 BF. I got the directions wrong and failed. I made 61 trades with hedges for the week. The market was relatively quiet. The overall positions are increased across the board. 

The two small accounts worked fair. IBP collected $1768. TOS got $4002. TOS had 2K carried from last week. The total for the week is $5770. They both are under the water on the SC side with the unexpected rally.     

Lessons and Plan:

1. Continue to work on my patience with a sense of time frame; 

2. Reduce my DITM positions;

3. Practice meditation. Stay present;

4. Working on my emotional recognition;

Still In The Range 5-12-23

The major indices closed slightly lower except the tech-heavy NQ for this week. They traded within last week's range other than NQ. SPX has been in the 4170-4050 field for six weeks now.  RUT is in the 1700 to 1815 range for 9 weeks. We don't know when and where they will break. But they will. I can only follow the price actions objectively. 

IB Netliq is up 2.5% from 325K to 333K this week. The options' open value is down 9% from 174K to 156K. The two numbers set records of high and low for two years. The progress continues moving towards my goal. The leverage is slightly up from 84 to 87. The realized P/L is $21879. It reflects the reduction of the options' value. The collected cash is $1922. I made one BF hedge today for about $900 profit. There was no BF SP left before I entered this one. There were a total of 79 trades for the week. The average is 15.8 trades per day with hedges. I reduced 1 SPX SC, 1 SP, and 1 RUT SC. It was a good week overall. I followed my plan and the rules. The rangebound market helped too. 

The two small accounts performed well with the -1+1 rule this week. I had two BF double wins in each account. IBP collected $4110. TOS had $2048 without today's double BF figures. The total cash is $6158 for the week. I followed the -1+1 rule. 

Lessons and plans: 

1. My impatience is related to my FOMO and sense of time. 

2. I will have to roll out most of the DITM positions next week. 

3. Practice meditation during work hours if I feel stressed. 

      

A Rangebound Week 5-8-23

The major indices had a volatile week. The main catalysts were FOMC and NFP on Wednesday and Friday. A selloff on FOMC day followed by NFP pop. The major indices ended this week with small losses except for QQQ. The first part of May would be volatile historically. My read of the market is leaning to the downside. I will objectively follow the price actions. 

IBQ Netliq is up 7.5% from 301K to 325K. The options' value is down 12.5% from -199K to -174K. The leverage is down from 101 to 84. It's the lowest level as far as I can remember. The realized P/L is $24,453. It's mainly the result of reduced option value. The collected cash is $2,650, including $1300 monthly interest. I made a total of 66 trades for the week. That is an average of 13 trades a day. It's probably on the lower side. I reduced 2 SPX SCs for the week. The SP positions were rolled a little closer. Overall, it was a good week. The range-bonded market and reduced positions contributed to the results. 

The 2 personal accounts were unwinded to 0 on Wednesday. They were in the mud for a week. I had double BF wins on Thursday. The NFP rally today forced me to roll SC BFs to next Monday. I wasn't able to expand the SPs this morning. TOS and IBP collected $3080, $2866 each. The cash total is $5,946 for the week. 

Lessons Learned and Plans:

1. Continue to set EM levels and trade accordingly;

2. I should look for an options calculator that can calculate combos. 

3. I am experimenting IF Butterflies. The base theory is that one side will be OTM at EOD. The strikes must be not inverted. I will be willing to let a DITM side go if it's a trending day. I should not trade this strategy on any major news event. 

4. Obeseve and recognize my emotions and stress levels. Practice short meditation when I am under stress during the day.