Friday, September 4, 2020

Lucky day for +7%

 Market is falling out hard yesterday and this morning. 

I did one thing right: trading next week's expiration. It's less of a heart attack. 

I did one thing wrong: BAC was a long pick, but as the market was melting, I shorted it. I rode up for a big minus before it came back close to b/e and I yanked it for about 11% loss. Would have been better to take the long signal, grab that money, and be done.

Then I got lucky with wide spreads in BYND to bring me back green for the day. And I am done! Not going to try to get too cute and mess this up, esp not going into long weekend.








Thursday, September 3, 2020

September cash management strategy and another successful day +20%

Trying something new starting Sept 1. I am holding my account at this very low level. I think I trade well at this small account size, maybe less emotions. So all gains above this basic level I will skim each night into the "reserves" account. Basically, I'm going to pay myself every day. The account I want to see grow is the reserve account.

Maybe it seems counter-intuitive, that if I'm trading well I should increase size. But I think in this case the opposite. I trade well at this $level so MY best opportunity for profits is to keep producing here. Maybe in October I will evaluate the option to increase the base account size by some increment. This might be a good strategy for me... to stabilize at this account size versus growing so fast (a curse we all should have? that my account grows too fast!)

Today was a very satisfying trading day, though maybe that could have gone either way. I traded NVAX long and NVDA short. Each had huge spreads on the options. I went in on mkt orders and out on conservative limits. Maybe I left some on the table, but on the other hand, I made really nice gains today with very little psychological exposure. 








Wednesday, September 2, 2020

+15%, but 2 different heart attacks on the way

Today was a wild day and I'm lucky to be green today. In the opening trade, I accidentally went calls on NVAX when I meant to go short (meant for ETSY calls, which would have also been a loser so maybe that's a wash), so I started with an unanticipated huge loss. Simultaneously was in NVAX puts which eventually paid but I didn't take enough off when I had the chance, so that trade didn't bail me out entirely. 

Then as I was just back to breaking even again via NIO puts, the trading platform went out for a few minutes. 2/3 limit orders filled while I was blind. Logged in to take the last third off at support (and then it dropped another ton and I missed it). I can't complain about this trade which I got sooo lucky to hang on through some really bumpy bumps (was -$200 before getting out finally +$360)

On one hand I'm so glad to be green. On the other hand, I could have had a REALLY stellar day if I didn't have to climb out of the hole. Very roller coaster day.

Glad to just shut this down and walk away from it today. 

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