The major indices booked 2nd losing week. Vix is above 17 for the first time since last Oct. SPX finally failed the 20 DMA and tested its 50 DMA for the first time this year. Some said the selloff was the effect of capital gain tax selling. The tension between Israel and Iran may been another factor. The possibility of FED delay and reducing the rate cut is discussed too. The 50 DMA may hold as a strong support on the first test. The geopolitical and inflation data could be the wild cards.
IBP Netliq fell 1% from 184K to 182K. It was up nicely to 201K till the -76 points, 1.5% selloff today. The realized P/L is -$8584. The portfolio is heavily dependent on the market conditions. I must think of a more proactive approach to counter the market dependence. The collected cash is only $260. My attention was dragged into defending the existing positions. I didn't trade any BF based on the rule of -1+1. The delta is from -65 to +165. The leverage stayed at the 290 level. The total positions are C 13+1 and P 11+1. I was often forced to increase my positions during volatile trend-changing times. There were yellow or red warnings every day because of the oversized positions. There were 44 trades this week. I noticed that I traded less than last year. Is it the calm-mind effects? The commission cost is $135. I didn't add any 1-1-2 trade this week.
The 2 small accounts got a little relief as SPX pulled back. The realized P/L is $16212. The total cash collected is $393. IBP and TOS got $506 and $-113 each. IBP is still paying for the no-stop losses. There was no BF trade in IBP. I will use the downtime to reduce the width of the spreads to free some B/P.
Lessons and Plan:
1. There is no cash income this week due to these added rollouts.
2. Set rules for stop loss after a position rollout.
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.
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