"The only way to trade with Fibonaccis" journal

The initial premise for this trade was a fib retracement if I recall correctly. Is that still the trade? Or is this just a buy and hold now?
 
It was fib levels down to the 100% level (or 0%, depending on how you look at it). Below that I had to change things up a little bit but the basic concept is still the same.

I adjust the target profit when price goes down certain amounts.
 
10/18:

SPY -$5,472.00
hedge -$1,808.80

Net for this trade:

-$7,280.80 (unrealized)
$1,223.60 (realized)
$2,931.69 (realized)
$1,129.72 (dividend)
$3,561.93 (estimated dividend)
$5,221.55 (realized)
------------------------
$6,787.69
 
10/19;

SPY -$13,737.00
hedge -$1,472.20

Net for this trade:

-$15,209.20 (unrealized)
$1,223.60 (realized)
$2,931.69 (realized)
$1,129.72 (dividend)
$3,561.93 (estimated dividend)
$5,221.55 (realized)
------------------------
-$1,140.71
 
10/20:

SPY -$10,716.00
hedge -$1,577.80

Net for this trade:

-$12,293.80 (unrealized)
$1,223.60 (realized)
$2,931.69 (realized)
$1,129.72 (dividend)
$3,561.93 (estimated dividend)
$5,221.55 (realized)
------------------------
$1,774.69
 
10/21:

SPY $2,451.00
hedge -$2,119.00

Net for this trade:

$332.00 (unrealized)
$1,223.60 (realized)
$2,931.69 (realized)
$1,129.72 (dividend)
$3,561.93 (estimated dividend)
$5,221.55 (realized)
------------------------
$14,400.49
 
10/24:

SPY $11,115.00
hedge -$2,482.00

Net for this trade:

$8,633.00 (unrealized)
$1,223.60 (realized)
$2,931.69 (realized)
$1,129.72 (dividend)
$3,561.93 (estimated dividend)
$5,221.55 (realized)
------------------------
$22,701.49
 
10/25:

SPY -$2,793.00
hedge -$1,934.20

Net for this trade:

-$4,727.20 (unrealized)
$1,223.60 (realized)
$2,931.69 (realized)
$1,129.72 (dividend)
$3,561.93 (estimated dividend)
$5,221.55 (realized)
------------------------
$9,341.29
 
I may be selling some covered calls soon.

Or I may just close the whole thing out. I'm nowhere near my profit target but I'm not so happy with how I spaced out the buys on this trade and I don't like that SPY has to drop to 105 again before I'm going to buy anymore. That's like 20 points of play, although I don't mind sitting through drawdown (obviously, if you've been paying attention to this thread).

ITM covered calls may be a good way to force the position to close. Of course if I do that price will go straight up :D
 
10/26

SPY $4,332.00
hedge -$2,224.60

Net for this trade:

$2,107.40 (unrealized)
$1,223.60 (realized)
$2,931.69 (realized)
$1,129.72 (dividend)
$3,561.93 (estimated dividend)
$5,221.55 (realized)
------------------------
$16,175.89
 
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