05/03 Daily Summary

Nothing new, we’re going back and forth on a wide range. I’m glad I stuck to my plan this morning, controlling the urge to lean bearish was a great victory for me Today :) Have to be patient this month, plan the trade and trade the plan, follow NDX, keep an eye on adjustment options and making sure there is enough theta to reach the goal.

05/03 NDX Iron Butterfly – MAY/10

We’re still trading back and forth on this very wide channel. NDX is pumping wide swings. I controlled my urge to go “bearish” early this morning, leaving my trading plan behind and leaning bearish. That would be a mistake in many ways, for once the market negated and rallied up, not to mention that so far I’ve been adhering to a well-defined and detailed trading plan, keeping an eye on reaching my 10% goal by next week. Throwing it out the window per say would jolt me out of wack and make it harder to stay in the game. Patience, patience is the name of the game this month for me.