05/06 OIH 30-Day Condor - CLOSED

Closed the OIH Condor as it gapped through my stop big time during Today's opening. It happens.

05/06 EWZ Double Diagonal - CLOSED

Closed the EWZ Double Diagonal Today with prices at or above 50. I was impressed by how far the trade was able to go in terms of how far away from the original volatility cone we got. See the dashboard bellow.

In retrospect, I had chances to take some profit once we didn't over 5%. I wasn't ready to put a trailing stop or TTN on the trade. Will discuss some guidelines about that with Dan on my next session.

On the positive side, this trade took quite a beating! If one looks at this type of profile, it makes a good case to focus on Double Diagonals, this basic guidelines can allow me to stay in the trade despite it moving so far away from the 1 st. deviation on the volatility cone.

05/06 RUT 50-Day Condor

RUT 500 level seems to be providing some resistance. 1 hour chart shows 3 failures to break above it, 509 is the highest point it was reached Today. Let's see if RUT breaks out of this level, next stop is 520/525 zone.

Day-by-day Review - EWZ Double Diagonal

It all looked good to go. However, as soon as I started this trade, EWZ started moving up and never looked back. If it serves as lesson learned, the Double Diagonals can take quite a punch before you have to trow in the towel.

Start: 04/01/09
Finish: 05/06/09
Duration: About a month
ROI: -24%

04/01 EWZ Price Study

04/02 Portfolio Update

04/03 Short post - Portfolio Update

04/04 EWZ Double Diagonal

04/06 EWZ Double Diagonal

04/07 EWZ Double Diagonal

04/08 Portfolio Update

04/09 Quick post

04/11 EWZ Double Diagonal

04/13 EWZ Double Diagonal

04/15 EWZ Double Diagonal

04/16 EWZ Double Diagonal

04/23 EWZ Double Diagonal

04/24 EWZ Double Diagonal

04/27 EWZ Double Diagonal

4/29 EWZ Double Diagonal

04/30 EWZ Double Diagonal

05/01 EWZ Double Diagonal

05/05 EWZ Double Diagonal

05/06 EWZ Double Diagonal - CLOSED

Day-by-day Review - XLE Double Diagonal

Here is a day-by-day collection of the XLE Double Diagonal, I started this trade right about the same time I started my daily journaling on this blog. Now I can connect a day-by-day history of what went down and how the trade performed. I plan on doing this for all my trades.

XLE Double Diagonal

Trading Plan

03/10

03/11

03/15

03/16

03/17

03/18

03/19

03/20

03/22

03/23

03/24

03/24 decision making

03/25

03/26

03/27

03/29

03/30

03/31

04/02

04/04

04/06

04/07

04/08

04/11

05/05 EWZ Double Diagonal

Still on the drade, despite EWZ's big up-swing. The position is still bellow the stop loss point even though EWZ has pushed outside 1.5 st. deviation. In all my trades this month, this is the one that took the biggest ammount of abuse and it is still in the table...

Compare and contrast with the OIH 30-Day Condor.

05/05 OIH 30-Day Condor

Ouch!! OIH pushed higher Yesterday and hit my last line of defense on the trade. It pulled back down Today, but ended up moving higher again at the end of the day. At this point I need a pull back, otherwise will need to exit this one as well.

NOTE: Compare this trade with the EWZ Double-Diagonal. Notice how much further EWZ moved in relationship to the volatility cone. That helps explain why I have a real good feeling regarding the Double Diagonal strategy.