11/11 NDX Iron Butterfly - Paper

TOS Profile chart isn't working for the NDX position, one way or another, I'll have to exit the trade either Thursday or Friday at the latest.

11/10 Daily Summary

It was nice to have a quiet day for a change. I still have the trades on, but right about now is time to think about what my exit strategy will be. I'm giving it an extra day Today and plan on start condorizing the best way possible.

Position's Summary:
11/10 MNX Iron Butterfly
11/10 NDX Iron Butterfly

Price Action and Vertical Solution's graph:

11/10 MNX Iron Butterfly

Rolled the 172.5 call contracts to 177.5, this is buying me some time and keeping the trade under the tent. No major dreams of max profits here, it is basically a matter of buying time to get out with less damage if possible.

11/10 NDX Iron Butterfly

Giving the trade one more day, if we don't pull back some, will have to pull the plug and get out.

11/09 Daily Summary

What doesn't kill you, makes you stronger.

Difficult months like these are a great brain stimulant, I've been trading in relative quiet waters for a few months, and then we hit this type of storm, both my positions bite the dust and this triggers me a strong stimulus for doing more study and research. One of the positive outcomes is that I've started to pay a lot more attention to the 5-Day volatility chart that I developed about 10 months ago and never paid much attention to...

Another positive outcome, is the VerticalSolutions Forecasts charts, I've become a fan of this profile, as it helps me to spot if we're moving with momentum or not during the intra-day price action.

Position's Details:
11/09 MNX Iron Butterfly
11/09 NDX Iron Butterfly

Price Action & Vertical Solutions chart: Notice the 5-day price spike showing strong reversal to the up-side, I got an alert warning on MNX last Friday... Studying ways to use these warning signs to my advantage

11/09 MNX Iron Butterfly

I hit my max loss on the trade, decided to hedge and give it one more day to see if the dust settles before I exit. It is easy to see we went from one extreme point of the chart to the opposite side, and because it happened in such a quick fashion, the position didn't have any time to recover.

11/09 NDX Iron Butterfly

We blasted through the break-even on the trade, the position is hedged and I'll give it Today for a back off, otherwise time to start exiting.