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donnap

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Turveyd said:
...it gets rambly and random and weird at times...
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Tell me about it. I just reviewed my last thread and even I couldn't follow it. But I see that I made lots of mistakes. What should have been a scalp, turned into a meandering, pointless trade as I got stubborn about it - partly because it was public. Probably would have spread the thing long ago, but my pride got in the way.

I guess that this holiday weekend hasn't been too bad. I had a chance to look around ET and search for nuggets of truth. Convexx's journal was both enlightening and amusing. I see that UCan'tEatBonds is getting ready to buy DOOM puts, whatever those are.

I'll review my situation later, but it is tempting to buy an ES. Had an order out at 2000.25, for a few seconds, but cancelled it. Overnight holiday weekend markets suck. Mercifully, the overnight just closed.

So my position is +1 ES 1990C -2 ES 2000C Sep monthlies and -100s SPY due to assignment. The position is down about 200 net ES @ 2000.00

I don't intend to post too much longer, but wouldn't mind saving face and turning a profit of at least 1000. Can't do that with this size, so I gotta build it up. I liked the short, but am rethinking that one. It's my prerogative to change my mind.

With CL, I flip direction pretty often. I still call it the Schizo flip from CL Redux. I'm used to that with CL, but not ES.

When I was a rookie, I'd see commentary that essentially said it's either going up or down. I'd think, well duh, anyone can say that. But that's the way it is, some of the time. It just shows a lack of conviction.

It's finally starting to get hot in them thar hills. It's been great most of the summer. Went down to Pismo Beach for dinner last night. Cool, refreshing breeze. Surprisingly quiet, but I bet downtown was a zoo.

(mostly written about 10am PDT today)
 
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Speaking of conviction, it only took me 12 hrs. to decide to post the OP. That 2000.25 entry looks pretty good now, but didn't go for it.
 
OK, finally got a little time. So where I stand is the SPY shares have a cost basis of 200.33.

Total realized profit less total realized costs is a whopper 38.56. Add to the initial credit of 300 = 338.56.

The ratio spread looks about -12 pts. with ES at 2005 and the shares are probably gonna be down 50-70 bucks. So the unrealized loss is now over 300.

Missed the long, which would have been decently hedged, but I'll take a short trade and try to put some oomph into the trade.
 
A little background. I haven't traded SPX products for about 5 years. Just getting back into it and have been testing some things out with small size.

BTW, I like history. Yesterday Sept. 1 was the 75th anniversary of the German invasion of Poland which started WWII in Europe. Not that long ago in the scheme of things.
 
Hmm...missed the short as well. Gotta sleep sometime. One thing, this position keeps on giving me chances. Botched every one. The ratio spread still looks down about 12pts. or $600. Shares down 50+
 
I was tempted to go long as it dipped below 2003 the first time. Could have got 2004+ out of that one, but I was concerned about the downside, follow through of the short signal. Turns out I was right to sit on hands. Sometimes, that's a trade.
 
I'm too tired to do anything as ambitious as build size today. I like the downside later. I'll trade that and try to put the trade in a rational shape.
 
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