SPX had a big jump the first hour of trading, betting it won’t go up to 2%.
/NQ had a huge run on Tuesday so started the trade earlier than usual… which turned out to be very risky since Wednesday morning /NQ continued to run up almost 1%! Had to adjust 10 minutes after opening, which is not a good sign either. Finally had to fight the trade all day long and putting 2 of the $10 trades to get credits. After a long tiring fight, I got lucky since the close price almost pinned at my Iron Fly. Looking back my original trade should have worked just fine. Another big lesson to stay with my rules!
/NQ has a rally of almost 1% since opening, so betting the price won’t go up more than the resistance line.
SPX opened sharply lower as a continuation of last Friday’s drop, had a contrarian bet on the market. Break even is below the low opening of the day.
Similar bet to SPX, but actually traded Wednesday cycle since Monday NDX is not available. Was luck to closed in on Tuesday.
NDX had an early up move to 0.8%, placed call spread on gap fill of previous high resistance line.
NDX was down 2%, which is really rare, so scaled into fear and legged into IC
P/L Change
P/L Week: $651
P/L Year: +$2041(40.82%), including P/L for FB, TGT and TSLA rolls
Total commission & fees: $291.56
P/L Year w/fees: $1749.44(34.99%)
Jan Recap
This month is a great start and I’ve made a lot of money on paper. What I did right is 1) always keeping 40% of cash on hand of scalp and adjustment. 2) Use longer date cycles for earnings 3) defined risk for earnings. What I incurred too much risk is 1) With volatility rising, many trades have gone to the wrong direction, 3 out of 4 earning trades are outside the expected range… Will try to defend them and survive!
