SPX and NQ consolidated in current ranges for the past 10 days, up 4th week. YM, the large-cap already made new ATHs. SPX is less than a half percent from the new ATH while NQ is holding at 50 DMA. S&P, equal-weighted index made several new highs already. The rotation to other sectors continues as the Fed rate cut is near. The first part of September is bullish seasonally.
IBQ Netliq stays below 100K. The position adjustments are still limited. The netliq is up 10K, 11% from 82K to 92K after I collected 20K with a 5875 DITM SP. The realized P/L is -17815. The collected cash is $23532. It was from the forced rolling of DITM 5680 to 5780 SP. I may have to use the fund to adjust Delta and positions. The options' value increased by another 2.6% from -521K to -535K. The delta went down from -370 to -245. The leverage is down from 841 to 786. The collected 20K cash helped to make the delta and leverage down slightly. VIX is in the 15 range. The total positions are C8 +0 and P8 +0. There were 70 trades for the week. Many of the trades were short-term hedges. The commission cost is $208. I added one 1-1-2 for Oct. The 4 XSP SC are still ITM after rollout. Overall, not much improvement was made for the week.
IBP is in a similar situation. The fourth-week rally overwrote the inverted RR. The realized P/L is $6688 for the week. The cash collected is $-560. I traded Infra's calls but didn't make profits. I will continue to try. The total positions are C5 +0 and P5 +2. There is no SC exit insight.
Lessons and Plan:
1. 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 have been reflecting on what had 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. The word accountability popped up when I woke up one-night last week. I have not held myself accountable for my trading mistakes. The first step should be to place a stop-loss order right after a position is filled.
4. 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. Watch the S/R levels hourly and daily.
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