SPX closed its eighth consecutive week up before Christmas. SPX has yet to reach its all-time high like Dow and NQ did. The bulls bought Wednsday's1.5% selloff. Santa Rally is live and well so far. The seasonality is playing out well.
IBQ Netliq is down again this week. It went down another 6.4%, from 221K to 207K. It closed at the lowest level since Feb. My 10 months of work were wasted. The realized P/L is $10K. The collected cash is only $520. I bought the first 1-1 system for $980. It's my experimental trade for 2024. The delta improved to -157 from -300. The options' value is up 4% from -322K to -336K. The leverage is up 10% from 202 to 227. The total positions are C8 -0, P11 +3. I made 37 trades for the week. It was less than last week's 60. The commissions cost $100.8. The situation got worse rather than better.
The two small accounts got further ITM. The collected cash is $2880. IBP and TOS got $2104 and $776 each. I had 2 BFC expansion trades. One winner and one loser. I didn't place a stop-loss order on the distribution break on Wednesday.
Lessons and Plan:
1. Adding a new rule of delta 250. I must adjust my positions when the delta is positive or negative 250. It worked for me in the first half of this year. It also needs to incorporate the -1+1 rule.
2. I will adjust my positions from the further out-of-date positions first. They give me more room to maneuver.
3. All of my losses are from the no-stop trades. I must enforce the stop-loss rules.
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