That being said, today was interesting. I've been playing for a bounce since last Monday which obviously didn't work well, I got my ass handed to me every day last week. Today I made it all back plus some...and I sold way too early. It's the big days that matter for my trading, and this is one of my biggest ever.
Same setup as Monday, looking for the all day or late day rally. I screwed up the AMZN trade that would have paid $100k+ by selling the late day dip. They got me on that one, but still a great day. I'll be playing the same way all next week. If I'm wrong I lose $20-30k, when right $100-200k.
Nice job Dustin. I still make those mistakes damn near every day. But as long as those mistakes still fit into a positive expected return, trading life is good. Say hi to Corey and Szeven for me.
Another great day, I love when a plan comes together. Lightspeed doesn't mark open index options correctly at the close (cash settlement), but those are worth $49k plus the closed +$59k is around $108k for the day. There aren't any 0dte for me tomorrow so not much to do now until Wed.
Hi Dustin, Lightspeed Trader uses the Mid point until the close then reverts to last sale. I can't explain why but I think it has to do with our old clearing broker. Your equity and clearing sheets will still use the correct mid point. We have a risk tool available by request on the portal that will show an accurate gross P/L. Ask for the Sterling Risk Monitor(SRM) to be added to your portal ID.
The SRM also provides an estimate of margin and risk. In general, it is for PMA, but can be requested for REG-T accounts.
You trade index derived 0dte's on Monday-Wednesday-Friday, and add in equity derived on Friday. "So not much to do until Wed." means you are an observer only on T & Th? Do you trade on Tuesday and Thursday? Thanks for this journal, Dustin. Lots of good ideas between the lines.
Tuesday's are my slowest day of the week because there's nowhere to find the r:r I want. Thursdays are at least near the end of the week so I can trade 1dte on individual stocks. Monday/Wed are dedicated to index/etf 0dte. Friday I will trade everything since it's all 0dte.