04/29 Daily Summary

Staying on top of our roller coaster. Seems quite a big range for us to be going back and forth in a matter of days, but hey, I’m still hanging in there. This month the NDX is working like the bull in the china shop for sure.

04/29 NDX Iron Butterfly – MAY/10

Wow, once again we move from the bottom of the tent, to the top.. I’m glad I didn’t sell that long call when we were lower a few days ago. It was simply lucky as we traded within 1 point of my contingent order. I have not touched the trade again Today. Still keeping an eye on my 10% goal, I want to get there by Monday of the week before expiration, as long as I’m on target to get there, I’m ok.

04/29 OEX Weekly Iron Condor

Just to wrap this one up, looks like dinner and a movie will have to wait for next week  I had an order to do a butterfly roll if we hit 550 and we did. So now it is underwater. I might be able to save it if looks like OEX will get pinned down Tomorrow, but will only know Tomorrow.

04/28 Daily Summary

I saw this video on Youtube Yesterday, and this morning made the connection to trading... Take a look at it, when it comes to riding the market “roller coaster” which trader are you? The guy on the left or the guy on the right? I figure the job of any developing trader is to migrate from being the “freaked out guy” to being the “level headed” one just watching and enjoying the ride while others kick and scream to no avail.. :)

http://www.youtube.com/watch?v=hyFl-IyDUhE

04/28 NDX Iron Butterfly – MAY/10

Took a very welcome break Today! Didn’t have to make any adjustments on the trade and the conditions have improved. Keeping a keen eye on Yesterday’s bottom, we closed just above the 21 SMA on the daily charts, if we push to make new lows I’ll start making adjustments again.

04/28 OEX Weekly Iron Condor

Saw an opportunity to place a small trade on OEX this morning, couldn’t resist taking advantage of the expanded volatility. Won’t be posting a lot of updates here, consider it a dinner and movie trade.

04/27 Daily Summary

Volatility just exploded Today, sharp move all across the table, Tomorrow will be a key day. Interestingly enough my Iron Butterfly was not totally damaged Today, the vols didn’t hurt as much as I expected.