The Bulls In Control After FOMC 7-28-23

 The major indices booked the third consecutive weekly gain. FOMC raised the rate by 0.25% as planned. The market reacted wildly but ended up. The real tell was the day after the meeting. I tended to underestimate the aftermath effects. 

IBP Netliq is up 3.5% from 310K to 321K. The options' value is down 3% from -196K to -190K. The leverage is down slightly from 98 to 95. It's still elevated from the 70s in May. The realized P/L is 6.6K. The collected cash is $2083. I had one BF scalp win. The one open BF from last week was closed too. I moved 1 RUT SC to SPX SP. The delta for both SPX and RUT is in line now. I made 81 trades for the week. It's about 20 less than the last few weeks. The total positions for SPX and RUT are 15 and 5, the same as last week. There were some closes, opens, and rollings. Overall, it was a muted week with some improvements. 

I paid $10K back to ETQ for July. That leaves the total debt to $148K between QIIs.

The two small accounts are still in the dump. There were hardly any pullbacks. They continue to book paper losses. IBP collected $900. TOS got only $618. The total is $1618. The deepest positions at 4300, and 4330 are -6.3% and 6%. The lost earning potential is about $13K a month. The weakness of no stop-loss continues to cost me dearly. 

Lessons and Plan:

1. I am more aware of my emotions and anxiety. 

2. I am more patient waiting for the price levels and the time of the day. 

3. My weakest link to my trading performance is to follow the stop-loss rule.

4. It's a powerful statement that I am a full-time, professional trader. I must follow professional standards and practices.  

The Market Held Up Before FOMC 7-+21-23

 The major indices were up three days before pulling back in the last two days of the week. Overall, it was a positive week for the indices with signs of weakness. FOMC's rate decision is next Wednesday. It's expected the Fed will raise the interest by 0.25 points. Still determining how the market will react to it. 

IBQ Netliq is flat at 320K for the week. The options' value is up 2% from 192K to 196K. The leverage is up slightly from 94 to 98. The realized P/L is $4.7K. It didn't cover the -7.7K from last week. The collected cash is $2,780. I had one BFP. That has not been closed. The SPX delta is back in line. I transferred one RUT 1630 SC to SPX 4655 SP. I need to change 1-2 RUT to SPX to bring the RUT delta back in line. I made 103 trades this week. 12 of the trades were before this week. 90 trades are too many for a week. The total positions are down from 21 to 20. 

There was not much improvement for the two small accounts. The total cash collected is $$2,321. TOS made $662. IBP received $1,659. I made a BFP trade in IBP. I didn't follow the stop-loss rule. Now the positions are inverted. The slump is 240 points away now.      

I transferred $10K back to ETQ for July. It's $20K short to pay off 2022's loans. The total shortage is still $158K from the beginning.  

Lessons and Plan:

1. I paid more attention to the price levels. 

2. I improved my calmness and self-awareness. 

3. I have no decisiveness in taking stop-loss. I keep looking for alternatives to void stop-loss. This must change. Remember: emotions are out, and stops are in. 

The Market Rallied On Better Inflation Data 7-14-23

 The major indices popped on better-than-expected CPI and PPI data. The inflation is cooling off after more than one-year rate hikes. SPX is above 4500 for the week. RUT is holding 1930 now. The majors are in their new ranges now. Are we going to see some consolidations or pullbacks next week?

IBQ Netliq is down slightly from 322K to 319K. However, the options' value is up 4.7% from -183K to -192K. The leverage is up from 90 to 94. I may need more further dated hedges to bring it down. The realized P/L is -$7.7K. These DITM SCs are a drage. I was aggressively adjusting my positions to keep the delta in line. The collected premiums are only$1556 for the week. I didn't have any BF scalps because of the position rules. There were 101 trades this week. Some of them were old rollovers. It's still too many trades. The total positions were reduced from 23 to 21. 

The two small accounts are back in the slump with this rally. The total cash collected is only $574. IBP got $163 from rolling. I tried one BF. It didn't get expanded. TOS collected $411. This drawdown has been over one month now. 

Lessons and Plan:

1. I need to practice more breathwork during my meditation.  I should focus on the present with conscious intentions. 

2. The issues of calm and patient are the same every week. I am making progress little by little. 

3. My goal is still to eliminate these DITM positions by the end of August.   

The Drawdown Continues 7-7-23

 The major indices closed in the red for this July 4th holiday-shortened week. The price actions were weaker, random, and choppy. The market may be concerned about the Fed's two more rate hikes. Seasonally this is not a bearish period. Only the price action will tell. 

IBQ Netliq is up 4.5% from 308.6K to 321.9K. The options' value is down 5.8% from -194.9K to -183.6K. The leverage is down 8.8% from 98 to 90. The realized P/L is -$23.1K. That is the main area of the drawdown. I had to roll out several DITM positions. The SPX delta is finally in the neutral area now. The collected premiums are $3700, plus $1600 of monthly interest. I had one BFP win. I mistakenly left a RUT RR order open overnight. It got filled the next morning with $1500 premiums. Luckily the SP side is closed today. The total cash is $5299. I made 46 trades for the week. It's about 11.5 trades per day. The number of positions increased by 2 on each side. I switched one RUT SC to SPX SP. The timing was off. It was part of my plan to change all RUT positions to SPX.  

The two small accounts had some relief this week. These adjusted SPs were closed out. But they are still underwater. The total cash collected is $1653. IBP made $1330 with 1xBFP. TOS got only $323. My lack of willpower to stop losses cost me dearly. 

Lessons and Plan:

1. Watch for the price action and critical levels. They are the keys to the direction of my bias.  

2. Stay patient and calm. The daily meditation is a big help. 

3. Keep the forest insight. Have a road map for my goals of eliminating the DITM positions.           

A Week Of Rally 6-30-23

 The mid-June pullback was short-lived. The major indices rallied in the week of the month and quarter end. They ended the week by challenging the mid-June highs. It will either be a break out of the 2023 high or a double-top pullback. My accounts suffered drawdowns with the rally for the week.  

IBQ Netliq is down 3.8% from 320.7K to 308.6K. The options' value is up 9% from -177K to -195K. It wiped out last week's gain. The leverage is up 11% from 87 to 98. The realized P/L is up $9.2K. The SC positions were rollout and further deep ITM. The premiums collected are only $1430. I didn't trade any BF according to my rules. I made 103 trades for the week. That was about 20 trades per day. Some of the trades were executed before this week. The number of my positions decreased while the delta stayed negative. 

June was the first monthly drawdown for IBQ. The realized P/L is -$20,656. The cash collected is $10,318 with about $1,600 in interest. The actual premiums are about $8.7K. I didn't follow my plan to act quickly and decisively based on the price actions. 

The two small accounts went deeper into ITM for the week. The pullback of last week was shallow. The total cash collected is only $1,592. TOS got $559. IBP made a little more than $1K. My mistake cost the losses. 

The small accounts booked a drawdown of -$25,551 for June, the largest in 2023. The total premiums collected are $5,117 only. TOS and IBP each got $$2,517 and $2,600. It was a waste of time and opportunity. I will enforce a stop loss of 1-2X premiums from now on. 

Lessons & Plan:

1. Be aggressive and decisive in position adjustments. I often take more than one adjustment for a position. I should measure the levels and make adjustments accordingly. 

2. My plan for eliminating these DITM positions by the end of July is not likely accomplished. My new target is by the end of August. 

3. Keep my goals in mind and act accordingly. I need to calculate the positions' values. Then break the goal into small steps.