Discussion in 'Journals' started by Sweet Bobby, May 18, 2016.
Scratch previous, I'll send you a PM
Finally a little down action allowed me to close my two problem children trades without too much damage. The account was up about $1,000 on the day and about $5,500 since inception. All the trades are updated in my trade log.
Now my account is too long delta and this begins the daily grind of getting the account back in line.
The experiment has fully recovered from all the problem children trades and reached its high-water mark today. Now let's see if I can continue to improve from here. The account is up $5,580 since inception.
As I look over my trading log, it appears that I'm being a little too conservative. I'm going to open things up a bit. I've noticed on several occasions that my theta is under 100. Ideally, I would like to have theta of around 150. As of now I am at 122. Let's see if this will help my results a little over time. Happy trading!
Bobby you think thats a good idea at the moment with the current market action.
Fortune favors the bold! If things get rough just put on the Karen trade. Roll everything out a couple of months and pack a bag for Mexico.
Fortune favors the...Prepared mind...too; don't attack fortune blindly.
This thing is a powder keg right now.
Every dip is getting bought a bit as the "problem children trades" are covered and squared. I know because I am doing the same thing. Just sitting around begging for some volatility to make a few bucks. There will be a heavy downdraft, no one questions that. The only question is when.
The worst case is this precipice where the yield guys bail because stocks are losing more than they are making in dividends and all the voodoo charts break some magical resistance/support point at the same time and everyone just bails all at once.
Don't get caught on the wrong side my friend.
Traders always leverage up and get overextended right before the crash that wipes them out. It is trading version of Murphy's Law and is inevitable.
I'm adding short delta to the portfolio. I know a drop is coming.
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