Noregrets' "Double or Nothing" Volatility Trading Journal

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noregrets

I plan for this to primarily be a discretionary volatility trading journal, although I may make straight delta bets occasionally. I expect my “bread and butter” strategies to include butterflies (including asymmetric), calendars, and occasional verticals. Position holding time will range from intraday to two weeks. This is a very small account that is subject to PDT, so I will likely use futures options regularly to avoid PDT and utilize SPAN margin. Depending on delta exposure I may partially hedge some positions in delta-one.

My goal is to make a 100% return on equity within 12 months, which I think is very doable. Starting equity is $6,020.

All entries and exits with sizing will be documented here within five minutes of execution. I will post for each trade the % return including commissions, and monthly the % return on account.

Any and all feedback is very welcome. I am working to become consistently profitable and welcome you to join me on this journey.

Finally, I would like to thank atticus for graciously mentoring me this summer. The techniques he taught me have revolutionized my trading and witnessing his success firsthand has greatly inspired me.
 
Long the ES Aug30 2/3/1 1600/1640/1720 put fly from 36.00 risk, 2-lot.

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Quote from noregrets:

Long the ES Aug30 2/3/1 1600/1640/1720 put fly from 36.00 risk, 2-lot.

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Scaled out of half the position (1-lot) at 36.50. I lightened up as I think I put the position on a little too large yesterday relative to my account size. Also, if we see a partial retracement today of yesterday's drop, I want to ensure that I don't get shaken out. I am confident that there is a high probability of hitting ES 1645 (where I plan to sell) by early next week.
 
Quote from noregrets:

Scaled out of half the position (1-lot) at 36.50. I lightened up as I think I put the position on a little too large yesterday relative to my account size. Also, if we see a partial retracement today of yesterday's drop, I want to ensure that I don't get shaken out. I am confident that there is a high probability of hitting ES 1645 (where I plan to sell) by early next week.
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Changed my mind; out of the remaining 1-lot at 38.00. Vola dropped so much this morning that the fly was up 2.00 despite ES moving against me and putting it on at the close yesterday.

Entry 36.00, average exit 37.25. 2.5% return on risk inc. commissions.
 
Long the ES Aug23 1660/1630 put spread from 11.75.

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"I firmly believe that any man's finest hour, the greatest fulfillment of all that he holds dear, is the moment when he has worked his heart out in a good cause and lies exhausted on the field of battle - victorious.” - Vince Lombardi
 

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Quote from noregrets:

Long the ES Aug23 1660/1630 put spread from 11.75.
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Out for a scratch. I expected a significant move downward, which has not materialized in the timeframe I expected. When I put on a purely directional trade like this one, I try to be quick to cut them if they aren't producing gains. In this case I was also worried about an upward retracement after this straight drop from 95 to 50 on the daily chart.
 
Long the SPX Aug23/Aug30 1665 call calendar from 4.70.

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"Concentrate all your thoughts on the task at hand. The sun's rays do not burn until brought to a focus." - Alexander Graham Bell
 

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In the GLD Aug30 126/132/138 iron fly from 2.72 risk (3.28 credit).

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"You will find rest from vanities if you go about every act in life as though it were your last." -- Marcus Aurelius
 

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