Should have been scalping rather than posting in politics. Every setup today would have paid off. At least account value closed at the high of the week. Not sure where I’m at scalping yet, but will emphasize scalping for the purpose of exposure management of overnight positions rather than increasing intraday risk at this time. Since we closed below yesterday’s low on the broad indexes, I am bearish until further notice.
Going to post selected trades with thesis for trade, entry, target, and stop rather than showing my blotter. My performance will not necessarily be strongly correlated with my selected trades due to option structure dynamics. I will continue to post my daily P&L.
Equity down $401 or so today on a synthetic equivalent of a partially covered call on the 30 year. This is large position at 164% of account value. I did not intend such a large exposure, and certainly does not reflect my level of confidence on the trade. I needed to pay closer attention to delta dollars of the trade after execution in the early morning hours.
I ought to change the name of this thread to “For Another Loss”! Equity declined about $228 today on continuing weakness on the thirty year. Loss was mitigated significantly with a put bought to reduce exposure. Although I clearly went long too early, I thought the lows of last week would have seen much more support than it did. I am a sucker for -6(+) ATR below the mean on the daily. I have since closed the synthetic and have a few micros (30Y) for much reduced exposure.
Lost $332 on a couple of scalps and remaining exposure to the 30 year. Now flat. If I lose money tomorrow, I’ll be on sim for next week at least, depending on discipline, focus, and profitability.