Jul 29  trade plan

So we got that relief rally and the buy zone at 1210 on the RUT seemed to work out.  On the way up I added some hedges and balanced my delta.  I did this while driving through the Swiss alps enroute to Arona, Italy.  I sometimes shake my head at my lifestyle.  So bizarre what technology allows in terms of personal freedom.

I gotta admit though, the last few days were a bit hectic. On Monday, pretty much every trade (I have 9 on) hit delta or Greek trend limits and needed adjusting and man, it took all of my concentration. Every  indicator I use suggested a near term bounce and that meant my adjustments were reluctantly and more conservatively made.    I spent about 3-4 hours on Monday managing my trades and setting them up for a potential incoming bounce all the while managing my risks.  Because of the volatility, the option pricing (mids) were all over the place. My balance was fluctuating the size of an expensive car. I’m used to it by now. But it can defiently scare a new trader into closing out trades prematurely.  

By EOD today my account is at All time highs.  I’m happy about that.  All the trades are sitting perfectly and soon I’ll start closing off August ones at profit targets.  I even think a few September ones may soon be reaching targets.  My September M3 is up about 5 percent already. Every trade is sitting nice (maybe not so much the protector) but all the options trades are.   I’m feeling like I am about 60 % where I want to be re this trading thing that I am doing.  I am now actively working on a lot more trade due diligence ( trade plans, post trade back test and analysis –> where’d I deviate from plan? Why? How did it work out? Etc etc.) and alongside of that I am continuing to learn more advanced options strategies that are far more risk averse. 

So I write this almost two months into our road trip, and having some regret not actively updating as much as planned.  Every day felt like a scurry with never ending catch up with obligations in my business,  trading, new courses I’m taking (m3, bearish butterfly, m21 and APM2) seeing each place we visit and making sure to keep up my fatherly duties. There simply wasn’t much time for updating. I will make up for it this week. I’ve been all around Europe now on this road trip and I’ve come back to where I started.  Why? Because it’s our favorite place and we kept talking about it the entire trip, so why not just come back? We are in Arona, Italy near como.  We pulled in the driveway to be greeted by the b&b owners the two dogs, a goose that thinks he is a dog and a cat.  All tagging along with each other. And it feels like home.