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10/26/18

Profitable


Some days it is ok to keep to yourself.


I have no plans of participating in today's market. The idea is to wait till next week for another opportunity. Hope we all ended this week with some trading success.

Disregard above. I saw the market selling off and I jumped into a Nov DIA option trade. It was quickly turning a profit until the market started to recover, oddly enough around the same time, the "Bomber" was arrested. I was able to close my position with a $10 profit.  Happy to be able to end the week with a good profit.

Hope you all enjoy the weekend!


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10/23/18

BURDEN OF A PROFIT

YM Chart
DIA Chart [DIA JAN18'19 PUT 260 Strike @ 10.14]

The saying let your winners run sums up my trading experience, I assume it is the issue with most traders. We hold on to our losers for far too long and we quickly cut our winning trades for the quick profit. Why a dopamine fix of taking a profit outweighs taking a large loss still puzzles me.
I'm going to use this position as my opportunity to let this winner run, God willing I will not turn this winning position into a big loss.













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10/10/18

SELL OFF!

YM 5min Chart
I'm doing my best not to regret closing my DIA NOV02'18 270 PUT. I took an 80% increase in option value over what is now a 300% gain... would've should've could've I know.

I did not day trade this chart, other than the option positions I closed today. Perhaps this is just another bear trap, either way, I took my profit off the table and I will wait for a market retracement before I decide to get short again... via options.


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10/3/18

October 2018



The market has continued to rise higher despite U.S. political drama, trade war, Middle East conflict, China's aggression in the disputed islands. Not to mention the midterms are on the horizon with the FBI investigating Russian election interference.

I'm still bearish. I am fully aware I can not time the market, but I am putting my money to work before it becomes obvious the market is selling off. I have been bearish for the past 24 months, I have taken bullish positions to supplement my losing bearish positions. My stubbornness is my willingness to commit to a strategy of being one of the first to take advantage of a slow down (when) it happens.

My current positions are all bearish(I cut my losses quickly and hold on to my winners).
For the month of October, I'll update this post in the comments section from my phone.

Bought 10/3/18 @  3.40
DIA NOV02'18 270 PUT
Close    ----
P&L 69

Bought  Sep
THRM DEC21'18 45 PUT
Close    ----
P&L 93

Bought  Sep
UVXY2 MAR15'19 CALL 
Close    10/3/18
P&L -132

Bought  Sep
WFC APR18'19 PUT
Close    ----
P&L 72





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9/6/18

Whale Hunting

A three day market slide is a good day for my current positions. 

UNRLD $189



EWZ has to be watched closely, might close it Friday if it continues bleeding profit.

SPY is starting to work well, my largest position I will jave to keep on a tight leash, I have seen the market rally against me for the past two years.

UVXY, it was at a historic low when I bought it. A expiration of March is a lot of time for volatility to come back into the spotlight.


I'm holding expiration dates in November December and March anticipating to catch the market fall. You guys know I have been like Captain Ahab looking for my white whale since 2016.




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8/23/18

Trump Predicts Market Crash...

To be completely honest, I expected a market crash almost two years ago. 


POSITIONS
EWZ DEC21'18 32 PUT @ 2.84
Sorry Brazil, but I am short on their economy.


UVXY MAR15'19 8 CALL @ 2.79
Looking for volatility to spike sometime this year.

RESULT
?


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8/10/18

When Is Enough Enough? Update

It's been a long time since I posted, I have been on a hiatus from blogging here on Trin Cafe.
The Summer break has given me a lot of time for some humble self-reflection on the past 18 months as a "full-time trader". I won't bore you with the details, I will just say that you will learn a lot about yourself after losing the cost of a small house in less than 2 years in this opportunity I have called trading for a living. When years of preparing and saving for the trading account does not pan out as once hoped, what is a trader to do?

Option A: Call it quits.

Option B: Seek small wins and smaller losses.

Option C: I am still searching for an option "C", I am not sure there are any other options. For now, I am sticking with option B.

I am blessed to have a passive income that allows me to sit on my hands and ass long enough to risk it in these financial markets. For better or worse, the Pandora's box has been opened, the genie is out of the bottle, the toothpaste is out of the tube... I am a trader... FYI, (I hate the casino).
I began trading in 2002, I have traded through the "great recession", I was trading real money in a live account during the flash crash of 2010 and I am still here (dumb ass) maybe?

I am definitely foolish enough to think that I may get it right someday just long enough to where I can manage a decent size account again. Is that someday coming in 2018?

Stay tuned!




POSITION

SPY SEP 283 PUT @ 4.17

RESULT

Closed @ 4.70 for $51 profit.



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6/21/18

A Broken Clock...

Long August Put 24,700 STRIKE

If your bearish long enough and can stay capitalize, it will pay off someday?

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5/29/18

May 28th 2018

I cut my losses on previous AAPL options positions. The Bull Put on AAPL 185/175.5 PUT Option expires June 8th, it still may be profitable, the break-even was AAPL @ 183 by Jun 8th expiration.
I'd rather close my long position and prepare my portfolio for a potential negative downturn. I've been bearish for damn near two years, looking at the Geopolitical landmines coming up with the Russian investigation along with Euro stress from Italian political turmoil has me cautious to the upside. We have three choices as traders, go long, go short, or do nothing and sit on the sidelines.
For the knowledgeable options traders out there, yes there are strategies that can make money options trading in a low volatility market. I believe betting against high volatility is a recipe for disaster in the long term.

Portfolio
YM September PUT 24600 Strike
FXE September PUT 110 Strike
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5/21/18

Options Trading With Apple (AAPL)

No trades today. In my 16 years of trading, I have primarily day traded 60-70% of the time, the other trading I was doing  attempting was in options. My understanding of options is better than average, with that said, I know I am not sophisticated (smart) enough to implement too many complexed option strategies at one time.

See below for some of the various option strategies. 
Option Strategies
Options I have baking in the oven.

Max credit by Jun 8th exp. $244
Looking for AAPL 185 Call to go higher this summer

Today my P&L was positive $152, or I could say I was visiting "Profit Island", a phrase a shamelessly stole from Rhiese over on his blog Trading & Stuff.  The trader I want to be is the kind that trades 70% options and 30% day trading.

Options give a trader the ability to lock in the profit as well as the risk. At the end of the day, we are all trading because we believe we can identify and minimize our downside risk. Currently, my winning day trades gives my account that quick injection of P&L that makes trading feel worthwhile. However, with every winning trade, I have been prone to overtrading digging myself a deeper hole to climb out of.

YM 5min 
As I mentioned, I didn't daytrade today knowing I have capital tied up in option positions. The YM was up more than 250 points, I'm happy to say that I had zero FOMO. As I reviewed this chart, my trading style/technique/method would have had me trading in chop, possibly dangerously overtrading?

Hope we all end the week, month, year on "Profit Island"!
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5/4/18

Managing A Winning Trade Is As Good As It Gets

As I type this post, I feel fortunate to be able to just sit back and manage another winning trade. I am experimenting with how I will continue blogging here at Trin Café. As many of you know, the time and motivation it takes to post and the mental gymnastics required to keep the psychological aspect of trading in check is a daily grind. Posting on Trin Café has served as a therapeutic and creative space for me to share my thoughts on trading and as I said before, I appreciate the interaction with other retail traders which are a rare breed.

Good read: Jesse Livermore on Emotional Control By  in Trading Performance and Psychology
"A trader can never become complacent. Livermore was always alert, ready, prepared to separate himself from the popular thinking of the moment, the group thinking that usually always drives the market, and to go in the opposite direction. Livermore believed in cycles. There is a time when things are good and a time when things turn bad. It is true in this life for all of us, and it is true in the stock market. The good times are coming and so are the bad times—the question for a successful trader is not will they come…it is when will they come?"

I'm thinking of putting more detail and effort into my charts and less time into actual blogging, I might be able to articulate what I am thinking while I stair at candlesticks? Chart porn is really a thing check it out.

YM 1 min Chart, letting a winner run while locking in a profit.

5/4/18


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