Thursday, January 26, 2012

1/27 NDX Iron Butterfly - Weekly Summary

Weekly Summary: I had to close the trade this week, made the mistake of not having contingent orders to stop or hedge the trade and ended up taking a bigger than expected loss (-22% instead of -15%). This impacts my running status and quite a punch to the face. I have since then decided to regroup my efforts and be a lot more diligent moving forward. More on that as I post later on during the weekend.

1/26: Took a 22% Loss instead of a 15% loss by not closing the trade with a contingent order at the right stop point. This is the lesson to be learned during this cycle. Back to the drawing board.

1/27 IBM Calendar Weekly Summary

Weekly Summary: I had to do another adjustment this week when IBM went through the roof after earnings. The trade took a 3 st. deviation move and still showing possibility of profits.

On 1/27: IBM retreated a bit more and vols have increased a bit, which helped the trade, note it is showing slight better numbers than Yesterday

On 1/26: After performing 2 adjustments on this trade, it still shows possibility for small profits 2 to 3 weeks away