HowardCohodas Index Options Credit Spread Trading Journal

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Quote from HowardCohodas:

Congratulations on reaching your 6000nth post.

I report profit/loss on each trade and profit/loss in the account. Each is self consistent and reflects different aspects of this strategy.

The graph I just posted reflects month on month profit/loss. It is a strict ratio of account balance at beginning of month to end of month.

I forgot to hide April's results. I have made trades, including rolls in April (today).

Only 78 words, including congratulations. :)
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Ahh thanks, didn't realize.

So the March performance reflects loss on the entire account, not the loss on debit req? If so, the Feb gains of 16% are gains on account and not simply gains on risk-dollars? I ask because my guess is that you lost a lot more than 22% on the dollars at risk (debit requirement) in the NDX positions.

Maybe I am thick, but it's still not clear to me. I realize you calculate risk on debit and portfolio, but I don't see numbers for both.
 
Quote from atticus:

Ahh thanks, didn't realize.

So the March performance reflects loss on the entire account, not the loss on debit req? If so, the Feb gains of 16% are gains on account and not simply gains on risk-dollars? I ask because my guess is that you lost a lot more than 22% on the dollars at risk (debit requirement) in the NDX positions.

Maybe I am thick, but it's still not clear to me. I realize you calculate risk on debit and portfolio, but I don't see numbers for both.
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You are exactly right. Some of my spreads considerably exceeded my stop of 20% because I ran out of cash to buy them back. I'll report on a spread by spread basis as soon as I catch up on my bookkeeping, but the account performance was easy to report so I did so now to bring everyone up to date on that aspect.
 
Quote from HowardCohodas:

You are exactly right. Some of my spreads considerably exceeded my stop of 20% because I ran out of cash to buy them back. I'll report on a spread by spread basis as soon as I catch up on my bookkeeping, but the account performance was easy to report so I did so now to bring everyone up to date on that aspect.
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OK, so the 16% for Feb was on account? You mean that you earned something approaching 30-90% on some individual positions in Feb?
 
I don't understand that bar chart either...

If that reflects reality, you did much better than I thought. The market break wasn't too deep and inmediately bounced back, before expiry too, so that MAY be hiding some of the risk actually taken?. I think you were lucky this time.
 
Everybody, particularly the pro´s are wondering if Howard has a method that works.

I don´t understand his bar chart either. Did he just lose 20% or so of his account balance in March? Which would not have been a bad case scenario and how was that possible?
 
my take on hoco is he is learning , growing and hopefully adapting on his way to becoming a long term profitable trader. few make it due so many factors such as lack of brains, work ethic,bad luck, stubbornness, etc.

and also even professionals blow up and lose. this is a hard business. howard is just one of many who thought they had it and got a real wack.

these boards can warn people but they will never ever give you the final answer to get the big money...only a pathway may surface, that's it.

good luck.
 
Why not just show the trades?

Opened on 2/15/2011:

IWM 75/71 March Exp, Put Credit Spread, .22 credit. Expired worthless.

See how much easier it is to follow?

There really was no reason to lose money on put credit spreads in March, if you were FOTM.
 
Quote from falconview:

how was that possible?
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By his own words, he ran out of cash to adjust or manage in any manner. He was all-in and at the mercy of the market.
The market was merciful this time and rallied 50% of the drop by expiry. His account went from wiped out at the bottom of the break, to the current final loss registered.

That's what I can gather from a mental simulation of his portfolio, with the tidbits he has provided. Had the market not bounced back before expiry his last bar would show -90% or close imo.

Being unable to adjust saved his account. He pushed allin with a straight flush draw against a made full, and got the lucky card on the river.
 
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Howard, was the 16% return for Feb on debit or portfolio? If on portfolio; what percentage is devoted to credit spreads? 20%?








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