9/3 Daily Summary

We have been pushing really hard to the up-side, one major 2+ st. deviation days followed by a couple 1+ st. deviation days back-to-back, wow, it is getting rough out there..

9/2 Daily Summary

It seems we're still excited about moving higher.. For now I'm just watching and waitting for the time to get back in with the Iron Butterfly.

9/1 Daily Summary

Here is why I love the Iron Butterflies, more often than not you're out of the trade quickly.. :) Huge spike up Today and I'm totally out of the market and not feeling the need to jump back in :)

8/31 Daily Summary

Ok, I have been a bit away for the past few days, things have been really busy at work and I don't have any live positions on. The only thing I have going are a few cash-secured puts on WMT and KO, but these are on the long part of my portfolio and I'm not tracking them on a daily basis. I have been looking at a few broken wing condors as per recent discussions in the Sheridan Mentoring community, so far these are only paper trades for me and I'm still trying to get a hang of it. I might do them live the next month or so. For now, here is the latest daily Summary chart.

SEP NDX Iron Butterfly - Day-by-day Review

September was a nice month for me, the position yield the 10% goal within less than a week and it was a very welcome result, provided that AUG was a looong trade. :) Here is the day-by-day review.


8/17 Daily Summary
8/18 Daily Summary
8/19 Daily Summary
8/20 Daily Summary
8/23 Daily Summary

8/27 - Daily Summary

Seems like I took out my trade right before a small roller coaster. I didn't watch the market since Monday of this week, and by the looks of it, I'm glad I was out with my target profit. If there is one thing I learned with trading this strategy for over 1 year now is get out as soon as you can. That's one of the things I love about the Iron Butterfly: You can get your money fast, and when the market moves against you, you can still stay in the game and recover.

8/23 Daily Summary

As we started the morning I saw we were trading around 10% so I started peeling off the position. I took 1/3 first and that flattened my deltas so I was confortable with staying till the end of the day to take the rest off. 10% in 5 days is awesome no matter how you cut it! :)