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!
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