Holding At The Top 9-27-24

 SPX and Dow made new highs while NQ and RTY struggled. The Bulls look like a bit tired. SPX couldn't close above 5750 with China's big stimulus package and better PCE data. The SPX's MACD turned red on 2nd day but RSI is still above 86.  The market may reset after the 3-quarter ending on Monday. VIX bounced at 50 DMA. Oct is a seasonally volatile month. I will remain open-minded. 

IBQ Netliq is flat at 90K. The realized P/L is -5097. The collected cash is $1849. The SPX long calls and MEX didn't work out this week. The opening pattern has changed from open drive to open pullback. The options' value increased by 4K from -537K to -542K. The delta went up 7% from -213 to -308. The leverage is up from 813 to 822. It's still very elevated. VIX is up from 16.1 to 19.3. The total positions are C7-0 and P6-1.  I must keep them at the current or lower levels. There were 56 trades for the week. The commission cost is $186. I didn't add any 1-1-2 due to the margin limit. 

The IBP situation is worsening. The rally relieved the SP side but pushed the SC DITM. I exited 2 more SPs but had to add 3 more due to SMA warning. I couldn't roll the SCS more than 2 days out. There are 5 SCs and 5 SPs into next week. Any bigger size move could further damage the netliq and B/P. I may have to take a stop-loss in the SP positions. The realized P/L is -$1789. The cash collected is -3322. I had to pay to roll the SCs without expanding the spreads too wide.

1. I made progress in adding Stop-loss orders to every new position. Luckily none of them were tested this week except the MES. MES tends to get stopped in the middle of the day. I am still working on dealing with my fear of losing. I don't like the feeling of losing subconsciously. Losing is part of trading. It's like the phoenix flying out from the ashes. 

2. My stop-loss rules are A. Take 3X losses if the premiums are less than $1000; 

                                        B. Take 2.5X losses if the premiums are between $1000 to $1800;

                                        C. Take 2X losses if the premiums are above $1800.    

2. I realized the IBP doesn't have much room to expand if the rally continues. I need to figure out the numbers or percentage of the balance tolerance.    

3. I continue to work on the sense of accountability and self-discipline. It's a long process of changing my old habits at the subconscious level. 

4. I shall stay calm and focus on my emotions during the market hours.