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Prompted by Overnight's OCD :), let's recap why prefer FOPs over FUTs. You will probably remember from other public illustrations (decades ago) that I started working with futures (and actually, whatever instrument I could put my hands on). And trading futures with this scalping/hedging...

Yep, FOPs (oops!) is the way to go :) I am glad you are following so passionately :)

Time to create another of those "protective structures", we have seen before. Recall that last time we were able to scalp out about 18K using the long position. This time I have done the following: +5: ES FOP 20230519 3500 P GLOBEX 50 E-mini S&P 500 [EW3K3 P3500, 557298027, mult: 50] -40...

Today reaching 246.3K (daily avg so far $947.7):

After touching the lowest point at 3502.25 last week: ES FUT 202212 GLOBEX 50 E-mini S&P 500 [ESZ2, 495512551, mult: 50] Friday and today we have been experiencing a nice rally which allows us to reach a new record PNL of 237.8K (even if ES declined sharply since...

This morning (my time) we have hit a new record high (221.5K) 247 days elapsed, 18K commissions (this does not include the interests from IB, 2.58%: but it's just the PNL scalped away by the strategy). We are in good shape to face the new challenges, should ES continue to decline:

:)

Today, mkt running, is characterized by a powerful move up (I hope you are enjoying it :-): Accordingly, we have reached a new record PNL of 214K. Currently 212.7K: At this point, I am locking the profit on various layers to reduce the "investment pressure" (% funds used), in order also to...

Thanks a lot, Pekelo. You taught me something :) I searched for your definition, found here:

Hello Pekelo. I understand the assonance with "Ponzi" and probably something having to do with "pump and dump" schemes, but could you tell me how this word is formed and the meaning (I am not a native speaker)? Is this a word that every native would understand?

Note that ES has been going down throughout our trading session (the last 245 days): while we are essentially mostly selling ES PUTs (so working in the most unfavourable condition and without making any prediction), and still the little spike we got today managed to bring us back to 183K...

https://link.springer.com/article/10.1007/s00181-020-01990-5

Taking advantage of the small rise of ES: ES FUT 202212 GLOBEX 50 E-mini S&P 500 [ESZ2, 495512551, mult: 50] to move further down our "protective leg" and lock the layer profit: ES FOP 20230131 3500 P GLOBEX 50 E-mini S&P 500 [EWF3 P3500, 577410041, mult: 50]...

Yeah, it's a damn wild range. It is extremely difficult to trade if one is aiming for a systematic profit. I would not advise anyone to embark on this unless they are gambling just a small portion of their wealth for pure fun (just like a lottery ticket). Things that can be done, anyway: -use...

Coming to ET and making the claim of no losing months is more or less like some third-world guy going to a bunch of NASA physicists and wanting to tell them he can levitate and fly at will. They would just nod, "Yeah right. It's just the Dunning-Kruger effect in the best case, or the completely...

Ending the week with an even lower value for ES than last week: https://www.aljazeera.com/economy/2022/9/30/bear-market-what-it-means-and-how-long-the-us-may-be-in-one The lowest value recorded was 3595.25, while the previous week we had 3613.75. I have been doing a few "layer transfers" as...

Wednesday, mkt still pulling down https://www.reuters.com/markets/europe/options-activity-hints-us-stock-market-has-not-reached-bottom-barclays-2022-09-27/ ES FUT 202212 GLOBEX 50 E-mini S&P 500 [ESZ2, 495512551, mult: 50] Very high margin usage: I will...

Ending the week with another significant drop: "Stock Market Today: Dow Falls, Touches New 2022 Low, as Indexes Drop Friday" https://www.wsj.com/livecoverage/stock-market-news-today-09-23-2022 "Stock market news live updates: Stocks crater, Dow hits 2022 low, and oil plunges as Fed and growth...

Let's see what happened this week. ES went down (from 4066.25 we saw last time to 3849, -5.34%): Accordingly, we have some DD, but actually nothing worrying. PNL down to 189.8K: We can see here that the "protective structure" we introduced earlier is providing some smoothing and mitigation...

Finally, Friday. The last few days have been characterized by a strong local move up of ES: ES FUT 20220916 GLOBEX 50 E-mini S&P 500 [ESU2, 495512566, mult: 50] today PNL has reached a new record PNL of 204K, thus exceeding 10% of the initial capital of 2M, while we...