Saturdays Post

How is everyone's weekend doing? Mine is going just fine, getting some cleaning around the house done, going downtown in the city tonight.

I would like to go over my trading day on Friday. It turns out I am not suited to slam 2 monster energy drinks and roll the dice while screaming 'cmon 7!!!!'

I think I will just stick to my regular system of the three main trading points per day. Once 10 minutes before close, buying which way I think the market will go the next day based on news/technical candle charts. the second being about 45 minutes after market open where I will try to capture my overnight profits during the gap fade, and third to jump in about 2.5 hours after open to get in on the days momentum with a daycall or dayput, which I will sell or reverse during the following 2.5 hours.

So what went down on Friday?

1. Sold the previous nights end of day calls. Made 49%
2. Lost all the previous nights puts. lost 100%
The above where to expire that next day. I should stick with 2 weeks out to let me out of the other half without a 100% loss, at the very min 1 week out.
3.dayput at .50 sold at .54 about 7% profit
4. daycall near the end of the day at .60 sold at .53 minus 13%

So, not good. First, lets take number 2 out of the equation. I will deal with that in the next paragraph. The day put did what it was supposed to do, I will always do that. Number 4, the above, I will never do that again near the end of the day.

Now for those puts that lose on the other side of the spread. First of all, I will never choose options that expire the next day again for my end of day call. There is just not enough time for a bounceback the other way to possibly get my money back in part from the other end of the spread. Also, for losing ends of the spread or losing end of day 1 way non spread picks: I tend to DD or even triple down if a previous one was wrong in an attempt to get my money back. I understand that is nothing more than a Martingale casino progression, but this isnt a casino and I believe that I hold the edge over the market via the way I trade. A casino has set rules and payoffs that favor the casino. When i trade in the market, I set my own rules. So I try to deal with or erase past goofups such as that DD put call and try to even things out back to profit in the overall run. Yes, that put loss is on the books hanging there and I will deal with it next week.

Welp, thats all I got today, you guys have a good Sat, and tomorrow I will take a look at what it looks like for the beginning of next week.

Tradinginsider
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