The Week Ended Flat At 5300 5-24-24

 The big events of this week were FOMC Min and NVDA ER. The big surprise was the gap and crap after NVDA ER beat. The futures were up all night and started to fall after opening. The indices were selloff in the afternoon except NVDA held up near 10%. The market tends to go against the majority's beliefs. SPX ended flat at the top this week. It reclaimed 5300 on Friday. The buyers are still in control. 

The IBQ netliq is up 5.5% from 175K to 185K. The realized P/L is -10127. The gap narrowed a bit. The collected cash is $2893. I had 2 BFP trades, one winner and one loser. The delta is back from -466 to -115. The leverage is down from 320 to 299. The total positions are C7 -1 and P12 +1. There were a total of 50 trades. The commission cost is $211. I tried directional trades every day. The NVDA ER 10x call spread worked out. It paid for all the other losses. I will continue to practice management of the directional trades. It's more of the mindset change from defensive to offensive. I added one 112 trade for June after one expired.

The two small accounts had mixed results. The realized P/L is 7059 as the rally stalled. The cash collected is -3465. It's the first time of the negative cash flow. IBP and TOS got merely $479 and $-3944 each. I had to pay 1900 to bring up 25 points to get an available strike price in TOS. There were paid rollouts to save b/p. These were the payments of my none-stops earlier. I had to wire another $30K to TOS to add b/p as there was only 6K left. I am planning to transfer the TOS account to IBP for a better invert adjustment policy. It's practically another blow-up account. 

Lessons and Plan:

The only thing that matters the most is to stop losses. All of my problems are caused by not taking stops. I will set stops right after I enter an order, period!  

Another All Time High 5-18-24

 The market got a boost as the CPI for April didn't get worse. The market ignored the PPI's rise the day before the CPI release. SPX reached another milestone of 5300 ATH. DJ and NQ hit 40000, and 18760 all-time highs as well. The bulls are strong and resilient. The market trends and sentiment are only sometimes in sync with reality.  There tends to be a small pullback in May before the summer rally seasonally. But I have to trade the current market prices.

IBQ Netliq suffered a pullback with the new high. It's down 10% from 194 K to 175 K. The realized P/L is -75269. The draw-down continued. I parked many adjustment positions at this Opex week. The May rally hurt these SC positions. The collected cash is only $1782 with a BFC winner. The delta is from +368 to -466. The leverage is up from 270 to 320. The total positions are C8 -2 and P11 +1. There were a total of 66 trades. Some of them were done in previous weeks. The commission cost is $273. I tried three directional 0 DTE without luck. I will continue to practice the directional trades. I added one 112 trade for June after one expired. 

The two small accounts had mixed results. The realized P/L is -32650 as the rally to ATH. The cash collected is only $255. IBP and TOS got merely $362 and $-110 each. The two SPs in IBP were exited. I added 2 more to bring up SCs. The TOS transfer from TD to Schwab was smooth. I may have to move this account to IB as the different margin rules limited the lopsided adjustment. 

Lessons and Plan:

1. I was relatively calm and collected during this week. Thanks to the daily meditations.

2. Keep in mind of my adjustment principles: 先远后近，先大后小，趋势导向，远调近出。

3. I realized I must refocus on the 112 strategy as my annual plan required.                

April Is A Up Month 4-30-2024

 SPX closed up in April and almost recovered from March loss. The expected counter-trend rally may have changed to the resumed up-trend. The downward Fib levels were broken.  Are we going to see a retest of the ATH? 

IBQ Netliq is down 15K, -11% for March. The realized P/L is worsening to -$51958 from March's -37552. The collected cash is only $4804 for the month. I spend most of my time adjusting the totally lopsided positions. The delta is up from -325 to +319. The leverage is up slightly from 14.8 to 15.3. The total positions are C 11+3 and P 12+3. There was no BF trade. I add positions when the trend is changing with volatility. The only solution is to take large stops. April was another month of underperform. 

The 2 small accounts recovered $28359 from a -46143 loss in March. The total cash collected is $5588. IBP and TOS got $4313 and $1274 each. There were only 10-20 strike improvements during the month. They are still at the market's mercy. 

Lessons and Plan:

I went to DC in early May. I got a chance to write this journal on May 12. The plan remains the same: Work on delta balance and reduce the risk. 

I realized I lost my focus on the 1-1-2 plan. I will refocus on it as my trade plan called for it.