Back In The Game 11-17-2023

 It's the first full work week since I returned from my China trip on Nov 7th. It took over a week to recover from my cold and jet lag. The trend has switched from a terrible Oct to a Nov rally. SPX gained 10% from 4080 to 4514 during this period. The EOY rally is in play now. 

IBQ Netliq is down 9.2% from 289K to 268K. The netliq is at the lowest level since March 28. The drawdown is the result of my trip from mid-October. The realized P/L is -$43226 as I was in heavy SCs. The options' value is up 11% from -233K to 260K. The leverage is up 23% from 107 to 139. The better CPI report on Tuesday caused SPX a 2% rally. It made my skews upside down. The cash collected is $1889. The total positions are C9,-1, and P7,-1. I made 59 trades for the week. The commission cost is $234.7. I spent a lot of time to adjust my positions after Tuesday's CPI. The delta is down from -307 to -237. I had to make a risk reversal from SC to SP. I am getting back in the game now. 

The two small accounts almost got unwinded before the CPI report. The collected cash is only $1238. IBP and TOS got $756 and 482 each. There are 2 SCs left for each account. I had one BFP in TOS last week. It dragged into this week. I didn't follow my rule to take a stop loss. 

Lessons and Plan:

1. I didn't follow my rules for position sizing. I have a tendency to gamble my luck.

2. It looks like I will miss my goal of eliminating these DITM positions for this year. I am researching new strategies to replace my current ones. I am studying a 1-1-2 trade system and daily directional setups.     

Is Bad News Now Good News? 10-6-23

 It was a flat week with large swings. The market waited for Friday's NFP all week. The SPX's 200 DMA is at 4200. The Sept NFP was 336K vs.176K expected. The NFP number is twice as high as expected. SPX futures dropped 1% after the news before the regular hours. I thought SPX was going to test the 4200 level below. It didn't happen. The 80/20% rule played out to the slim side. It was up 1.2% from down 1%. SPX ended at the top of the 4220 - 4332 range. It's still a counter-trend rally so far. But the Bulls get a better shot now. The bulls need to close above 4335 to get a new trend start. 

IBP Netliq is down 3.7% from 297K to 285K. My patient got thrown away on Friday. I was reducing my SCs for most of the week. The options' value increased 5% from 216K to 228K. The leverage is also up from 109 to 116. The realized P/L is -454. Friday wiped out over 20K gains. The delta is reversed from 256 to -154. The cash collected is only about $2100. The total positions are C8 +1, P7-1. I made 93 trades, an average of 18.6 per day. The commission cost is $336.48. It was a down week. I broke my rules, especially on Friday. My emotional acts resulted in my poor performance. 

I had to spend money to roll SPs daily for the two accounts. They got inverted on Friday's rally. The realized P/L is -$16,317. The downside move pushed the SPs deeper into the money. The collected cash is only $180. IBP and TOS got -211 and +391 each. TOS has 3295, 4315 SCs, and 4285, 4350 SP. IBP has 4295, 4305, 4310 SCs, and 4435, 4385 SPs. 3:2 Inverted positions are too risky for me. 

Lessons and Plan:

1. I broke my rule of not acting on pre-market during a major news event. 

2. I tend to be wrong in my bias in the volatile days. 

3. I let fear and greed take over instead of staying calm, patient, and disciplined. 

4. I have 3 trading days left before my trip to China. I have to close some of the positions. I will roll the IDTM positions to November. 

5. I will do a stress test for my IB accounts.