All the major indices except RUT reached all-time highs this week. The strong bulls are following the bullish January seasonality. What happens next? The technical indicators have not shown any overbought conditions. We may see a sharp pullback in the late part of this month. I will follow the price actions between support and resistance levels. I shall not make any preassumptions above the market directions.
IBQ Netliq suffered a blow of -26K on Opex Friday. It's down 9% from 231K to 214K for this 4-day week. The realized P/L is -76177. It's down $47K from last week. I had to roll out 3 DITM SCs from last Nov and Dec. The EOY Rally didn't give them a chance for recovery. The collected cash is $5.2K. Thanks to the $4.5K from the LCs on Opex Friday. The delta is -350, unchanged from last week. The leverage is up 13.5% from 193 to 223. The total positions are C9 -0, P11 -1 after so many in and out. I added a XSP March 1-1-2 for $120 this week. Made 82 trades for the week. Some of the trades were from prior months. The commissions are $332. The directional debit trades paid off handsomely on Friday.
The two small accounts didn't get much relief after the brief pull back a week ago. The collected cash is $2320. It's about the same as last week. IBP and TOS got $1415 and $905 each. I did a few 0 DTE. They ended up being winners eventually. However, I only enforced stop-loss orders one day. I was disappointed by the randomness of the stop loss executions by IB. I will study more for the stop loss orders in IB.
Lessons and Plan:
1. The delta hedging strategy helped to reduce netliq fluctuations. However, It is not effective in a trending day of 1% movement.
2. I started to place stop loss orders for my 0 DTE trades. I was disappointed after some random executions in IB. I have to study IB stop loss orders this weekend. I have to learn to solve my mental issues.
3. I finished my trade plan for 2024. I may refine it and add more details in my strategies and risk management. I set an remind in my calendar to review the plan every month.
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