The major indices closed in rally mode for July. It matched the positive seasonality. The inflation data have shown some improvements. The Fed's 0.25-point rate hike didn't make much impact on the market. The market is in an overbought, greedy stage. August is seasonally a volatile or choppy month. A pullback or a correction could come by August.
IBQ's Netliq for July increased only 7% from 307K to 320K, including the 10K withdrawal. The options' value is reduced by 2% from 197K to 193K. The leverage is down from 102 to 96. It's good to see it below 100. The realized P/L is only $3872. It's more like a B/E. The collected cash is $10771, excluding the $1600 monthly interest. The number of contracts is from 20 to 19. It could be more improvement. The total trades were 350 for the month. It's an average of 17.5 trades per working day. Each trade usually includes two transactions unless one is expired and worthless. The commission cost is $1373 for the month. It's 12.7% of the collected cash. I need to watch out for over-trading.
The two small accounts are still in the mud. The cost of time and lost opportunity are worsening. The realized P/L is -$28684. It's worse than June's $25K. I kept rolling up the positions little by little. I may be too conservative in my risk control. IBP and TOS collected $4382, and $3391 for the month. They are about 50% less than the average earnings.
Lessons and Plan:
1. I continue to improve my self-awareness and patience.
2. Identify the trends and levels in daily practice.
3. Keep working on my self-discipline.
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