04/30 Daily Summary

If you’re not at the edge of your seat yet, I don’t know what will get you up :).. Notice the waves are getting bigger, there are sharks roaming around, the wind is blowing, no visibility, you name it, the storm is out there.. So here you have it, my alerts are on. I’m trading focused on the goal, and fully aware the environment is choppy to say the least.

04/30 NDX Iron Butterfly – MAY/10

I am very, very grateful this position is going up in P/L despite the wild-wild west environment we’re in.. I’m specially glad it didn’t trigger my contingent orders to adjust at either extremes, we traded within 1 point of my down-side adjustment when it was down earlier in the week, then rallied up to trade within 3 points of my up-side adjustment. So, here we are at the lower edge, let’s back up to the middle NDX :)

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.