A Selloff To Start September 9-8-24

 A big -119 pts, 2.1% selloff on Monday, 9-3 after SPX's 56pts, 1% rally to near ATH at the end of August. The pop and drop trapped both bulls and bears. I was one of them. SPX closed down more than 150 pts, 4+% this week. It cut through 50 DMA and right at 100 DMA. The seasonality didn't play out so far. 

IBQ Netliq suffered -10K, 10.7%, from 92K to 82K for the Labor Day shortened week. It gave back all the gains from last week. The realized P/L is -37605. A huge blow from the 4% selloff. The collected cash is $1295+$1673 interest. Most of my directional trades didn't work out either by the reversal or closed too early. The options' value increased by 4K from -534K to -538K. The delta went up from -245 to +236. The leverage is up from 786 to 868. VIX is up from 15 to 21. The total positions are C9 +1 and P9 +1. The added SP cost the thinner margin. There were 31 trades for the 4-day week. The commission cost is $129. The margin and delta didn't allow any addition of 1-1-2 trade. I was able to exit three of the 4 ITM SCs during the selloff.    

IBP is in a similar situation. The selloff pushed the SPs DITM. The realized P/L is $31212 for the week with some rolls for next week. The cash collected is $1750+980 interest. I traded Infra's calls but didn't make much profit. I will continue to try. The NVDA ER IC paid off on the short side. The total positions are C5 +0 and P5 +2. The SP is hurting now. There is no SC exit insight either. 

Lessons and Plan:

1. I made stop-loss orders for my positions. But I failed to release them on Monday based on my bias, not the rules. I have been working on dealing with my fear of losing. I don't like the feeling of losing subconsciously. Losing is part of trading. It has become clear during my meditations that the underlying cause of my failure is the fear of losing. I fear of stop-losses. I fear losing before entering a directional trade. It's a subconscious behavior.  

2. I am reflecting on what has gone wrong in my trading for the last 10 months. The things I could control are the position sizes and stop losses. I couldn't be successful without either of them.  

3. Follow the rule of -1+1 strictly. 

5. Recognize my emotions. Fear and overconfidence are both dangers. Let the urges flow through. 

6. Be objective. My bias about the market direction often affects my decisions. Be flexible and watch the S/R levels hourly and daily.