...And They Have a Plan. (Live.)

[ondafringe]

As an aside, the MNQ trade was taken after hours for an overnight hold, because despite how much I pick on folks like Rickshaw about his bleating on, there is a bit of truth to the theory. The only problem is when it goes wrong, it usually goes horribly wrong. Like yesterday/today.

Rickshaw lives in your head rent free. lol

And I agree, you don't have to watch index futures for long to realize that, if you want to make huge point gains, you have to be willing to hold longer term because, as illogical as it seems to me, a lot of those gains come overnight.

But to my way of thinking, that means "selectively" holding overnight and "selectively" holding over the weekend using options to partially hedge any weekend hold because, as you say, when it goes wrong, it usually goes horribly wrong. If I even thought about allowing my account to take the body blows your account is taking, the mere thought would probably lead to immediate heart failure. lol

Hopefully, things will turn around for you.

 

[Overnight]

Continuing the holds...

For as bad as it looked on last update, Monday night was a brutal look. Was down ~$4K. But as expected, it's coming back. That is as far as I am willing to go on exposure at this time, so cannot add more.

That Monday drop was a big hurt. Were it not for that drop (i.e. it never existed) the positions would probably be in profit at this point.

I would like to hold these to to make as much profit as the unrealized losses encountered on Monday, but it always feels like that will take forever. Drops are swift and sudden, while days like Wednesday and Thursday are rare. It's always seem a slow slog back up. Will be away from trading machine after next week, for a week vacation. Assuming the positions will be in profit by end of next week, take them, or let them ride through the vaca? Hmm.

Always a tough choice.

P.S. There's one other wildcard in play...This government default shit. As traders we've been through government shutdowns before. But a default? That's never happened best I can tell. How much would that wreak the faith in the markets, the FOMC, our economy and all that jazz?

 

[SPX Options Trader]

Continuing the holds...
Monday night was a brutal look. Was down ~$4K.
Assuming the positions will be in profit by end of next week, take them, or let them ride through the vaca?

tough choice
This government default shit
all that jazz?

Sounds to me like you're just, basically, gambling. And all gamblers lose, in the end.
You need a better understanding, approach, and tactics and wisdom and philosophy to your trades and yourself.

 

[Overnight]

Sounds to me like you're just, basically, gambling. And all gamblers lose, in the end.
You need a better understanding, approach, and tactics and wisdom and philosophy to your trades and yourself.

This journal has a long history, and you obviously have not read it.

It started out doing something more complicated than what you do, but in CL futures. Calendar spreads, butterflies and condors! I mean, when you hear things like condors and flies you normally think of options! But yes, they exist in futures too.

My trading style has evolved over the years to become laser focused on the three main equity indices.

All you seem to do is buy 0-DTE calls and puts. You do not give yourself the extra dimension of time (which in your world of greeks is called "theta").

So who here is the gambler?

Read the entire thread, all 4+ years of it, before throwing peanuts at the stage.

 

[SPX Options Trader]

This journal has a long history, and you obviously have not read it
Read the entire thread, all 4+ years of it, before throwing peanuts

No offense, but the bottom line, trading performance results,...speaks for itself.
I don't need to read and shuffle through a volume of posts and words and sentences and paragraphs spoken by essentially random zombies.

 

[Overnight]

No offense, but the bottom line, trading performance results,...speaks for itself.
I don't need to read and shuffle through a volume of posts and words and sentences and paragraphs spoken by essentially random zombies.

Then you do not understand the spirit of this section, and the point of journals here. They are not just journals, but also journeys.

 

[destriero]

Sounds to me like you're just, basically, gambling. And all gamblers lose, in the end.
You need a better understanding, approach, and tactics and wisdom and philosophy to your trades and yourself.

Post PNL or GTFO. You fucking piker.

 

[SPX Options Trader]

Post PNL or GTFO
You fucking piker

Congratulations on your up day of 1.27%.
Very well done on your journal, Churro.

You should invent your own trading methodology system -- and get famous. Don't hide behind the Shadows.
You can be the next Bollinger Bands.

 

[Overnight]

,,,

You should invent your own trading methodology system -- and get famous. Don't hide behind the Shadows.
You can be the next Bollinger Bands.

The irony is, he actually DID invent his own "trading methodology system", as you put it, in his various threads here.

What is also ironical is that you claim his method is too complicated, while yours is the only one that SHOULD work. I cannot abide that. You shit upon his methods, and now you shit upon mine. And he's hosting a symposium of sorts in Vegas in 1 1/2 weeks to show, not just tell.

Well, just start a journal of your own and show us, don't tell us.

 

[SPX Options Trader]

start a journal of your own and show us, don't tell us

If I did create a trading journal...it would be very simple, short and boring.
Everyday on the S&P chart...it would show two dots...one to buy, and when to sell.

There is no way I am explaining anything, giving anything away, though. This process is essentially the Holy Grail.