09/09 Daily Summary

Today I learned the value of planning and preparation! I have been keeping a very proactive approach on my trades, always with at least two levels of contingent orders, but Yesterday I failed to do so. When RUT kept moving higher Today, the intra-day P&L oscilation got to me and I ended up rushing into an adjustment that was way too costly.

For my future trades on RUT, I plan on having contingent orders for single contract execution (not spreads) and will re-balance the position at the end of day.

Position's Details:
09/09 IBM Calendar
09/09 RUT Iron Butterfly
09/09 MNX Iron Butterfly

09/09 IBM Calendar

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09/08 IBM Calendar

09/09 RUT Iron Butterfly

Got tangled up in the price action Today, it was the result of not having at least two levels of contingent orders. After RUT hit my first up-side adjustment, I planned to act mannually and decided on the fly to roll one of the short 580Calls, the execution was bad and ended up taking a toll on my P&L.. On these smaller trades execution slippage on spread trades can be a big hit..

I'm now flat and have contingent orders in place to help me stay in the game, let's see what goes on Tomorrow. I also plan on adding the OCT trades Tomorrow.

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09/08 RUT Iron Butterfly

09/09 MNX Iron Butterfly

Moved the last 2 162.5 short Calls I had on the position, took a bit of a P&L hit, contingent orders in place for Tomorrow, going in flat.

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09/08 MNX Iron Butterfly