The 3rd Down Week 4-19-24

 The major indices closed down 3 consecutive weeks this year. The Israel and Iran conflict added fuel for the selloff this week. SPX was down every day of the week. It closed right at the 100 DMA. The daily RSI and MACD are showing extreme oversold. VIX is around 18. It seems more room to go down. All of the pops were sold in the last two days. 

IBQ Netliq set a new low of the year today. It's down 12.6% from 182K to 159K. The selling strategy doesn't work well when the netliq suffers in either rally or pullback. The key to keeping it safe is to stop loss and keep the size small. The realized P/L is -$19570. The collected cash is only $186. I had to spend hundreds of dollars to buy hedges. My attention was dragged into defending the existing positions. The delta is from 165 to +220. The leverage is up from 290 to 350 level. It's concerning when the leverage is above 300. The total positions are C 10-3 and P 10-1. The problem is that all of my SPs are above 5200.  There were 112 trades this week. Some of the trades dated back to January because of the OPEX. The commission cost is $425. I closed one 1-1-2 position and didn't trade the system this week due to the limited B/P. 

The two small accounts got some relief during this down week. The realized P/L is $125453. The recovery is less than last week's 16212. The total cash collected is $1666. IBP and TOS got $461 and $1205 each. The 2 SP in IBP are further ITM. They were forced to roll into higher strikes. One undisciplined act cost a big drawdown. One problem is that I wasn't able to raise the SC strikes. 

 Lessons and Plan:

1. There is no cash income for the 2nd week due to these added rollouts.  

2. Set rules for stop loss after a position rollout. I noticed that my emotions are high when I try to stop losses. It should be treated as a regular business activity.   

3. Study the proactive, directional trade system for volatile times.

4. I am more conscious about keeping calm. The mid-day medication helped to refocus. 

5. Working on recognizing my subconscious warnings. Following such intuition could help to be more disciplined.