Two main swing trades focused on which caused some losses/nuetrals. CRMD was a big dirty squeezer, and I was bought in on AXN. Should have lost slightly less money on AXN (perhaps saved myself around >$250 due to poor execution of my methodology. Accordingly it has gone on my to-do list to create a full run down of my swing short methodology for trashy companies.
One disappointment for the week was rolling over 2 of my LL long calls right during a big spikes. I rolled at 0.45 and in the spike it peaked at $1.90. Good lesson here, particularly for the more illiquid option contracts is to think about how to roll position with least amount of pain.
The other thing I note is that my selection of call spread for LL wasn't the greatest. It should have been a calendar spread with the shorter strike closest to maturity and around holding period (time stop), so that if I decide to cut position I only have to sell (and hence cross spread) on one portion of my position.
Intraday Trading: -$3503.
Clearly still struggling with discipline. Nothing here to comment on that hasn't already been touched on... But some changes that implemented are:
(1) 9/10 times stop-loss will be entered before entry. This is particularly important for some of the higher leveraged products (aka oil). The only real exception to this is when want to scale in some more size at a better price.
(2) Feel like I'm putting too much performance pressure on myself. Accordingly I have set myself a daily goal for intraday trading, and hence a realistic monthly target. Once the daily target is met I will stop intraday trading for the day. This isn't a longer term winning idea; however I believe it will relieve any performance pressure I'm putting on myself and get me out of the home run mentality.
(3) I trade my worst after a position prior day (as a general jist). To avoid overconfidence I have graphed my intraday PnL in a manner similar to Don Miller in his book/blog. The graph is adjusted by my monthly target to show as a negative figure until the goal is reached. Picture is below.
Back Account (realised): +$757.
Still proving it's worth... Have noticed that overnight short fees are extremely expensive, so I will try and avoid that. Currently GENE is costing me $0.03 per day!!
ASX Stocks: +$103.
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