I've posted quite a few in August.

 As a result,  I'm going to post the P&L for this month.   If I held the long positions NQ until now, I probably would have rest for a long time. But I didn't and I could not do it either.

 But it is still a pretty good month, I did better than July. It is 5 digit gain  (it was 5 digit gain also in July and thanks to the bull market) and paid more than my engineering job. But I need it for the house remodel. That is the motivation.

I probably will write on the blog on the weekly basis. Good luck to all of you!

It is really hard to trade

one side persistent trend days with low volume. I have predicted it several days ago
(http://bbs.wenxuecity.com/finance/3486208.html)  I knew if I day trade, I would have been frustrated with the current market.

As I result, all of my positions are delta neutral and they are working very well now . If there is no surprise, I will have another wining week.  But everything is possible. Stay alert!

Weekly review

I did poorly this week. I need some quiet time to stay focus.

Index	Started Week	Ended Week	Change	% Change	YTD %
DJIA	16662.91	17001.22	338.31	2.0	2.6
Nasdaq	4464.93	4538.55	73.62	1.6	8.7
S&P 500	1955.06	1988.40	33.34	1.7	7.6
Russell 2000	1141.65	1160.34	18.69	1.6	-0.3

Hey, did you ride with the bull this week?

I didn't :-(

Dow is up 340 points this week. But I would have become very restless if I held my long positions.  I slept very well with short positions in hand. :-(   Being healthy and having plenty rest are more important than making money!

Although I was not comfortable with the market and shorted  it with hedge, I came out with profit today. (All sold options become worthless) and I also did some day trading today.

Ok, next week is another week.   DOW should at least drop 170 points to be fair. :-)

 

I have the best month performance so far. But I need to be careful since making money is not easy in the stock market. Period.

Average up

a little today.

I will wait until vix is aroung 10 to add more. I'm calm and patient.

All short positions are pretected  so far.  That means that I only lost a little when the direction is against me.  Oh well. it would be better that I went long yesterday instead of initiating the short. But it is okay. 

I will update the blog whenever I feel like to. Otherwise you can track me down in WXC stock forum if you know Chinese. :-) since I'm very active there.

Happy trading and have fun!
 

Sold it.

Although it is only one contract, it is still profit.

I will start shorting today.


Just FYI. I initiated the short position by 8:35am with Dec contracts. I will not do the day trading on the position. If the market sells by end of the day, I might close it.  If I'm wrong, I will correct it.

Day trading?

    I don't think the market provides good day trading opportunities such as  today.  It is flat!  I agree that most of the day-traders don't make money. :-) Traders have to wait patiently until the situation is changed, which is NOT EASY. You can argue that you are different. but you can't change my mind. :-).

   Anyway, I don't plan to do anything today. I'm not eager to trade when I don't see the opportunity.
I'm doing self-talk. :-)



 

Pretty much cash position.

That was what I meant. Shoot, what happened if I kept all NQs(September contracts) . I could have rest for two month!

Oh, well. I don't regret it at all. Emotion control! I'm not shorting now. But I might later. Have a nice day!

What to expect the next two weeks?

It is just my own opinion. I don't expect too much bulls for the next two  weeks. I think we've seen this month's high. Anyway, it is not the trading plan. It is my opinion.

Why Long-Term Investors Beat Short-Term Traders

Hmmmm, interesting:

  http://www.ritholtz.com/blog/2014/08/why-long-term-investors-beat-short-term-traders/

 Do you agree?

More than 2 years.

    I've been writing this blog for more than 2 years. I've been writing the trading summaries since 2008. The thing frustrated me was that I knew I could make money. But  I could not control my emotion. I used to cut loss at very low point and only book a little profit.

   I've kept thinking how I can be different in order to make a consistent return.  Maybe writing a blog to record how I'm doing?

  Here I'm. I have up and downs. But I'm more confident than ever. I'm more calm. For instance, I added positions when the president ordered the air strike on Iraq last Thursday and held them over the weekend. I would not be able to do that at all before. If  the market repeats again like year of 2008,   I believe that I can handle a lot of better.

   Trading is never an easy job. Salute to the full time traders!

Weekly summary

Index	Started Week	Ended Week	Change	% Change	YTD %
DJIA	16553.93	16662.91	108.98	0.7	0.5
Nasdaq	4370.90	4464.93	94.03	2.2	6.9
S&P 500	1931.59	1955.06	23.47	1.2	5.8
Russell 2000	1131.35	1141.65	10.30	0.9	-1.9

Pretty much cash position now.

I covered the shorts. 100 pts is good enough for me anyway. That is very short swing and I planned to hold them for days. Oh, well. profit is profit.

It is a very good week and it is a good day also.

Short position initiated.

I shorted YM with protection.  I just started the process. I'm not an investor, but a trader. :-). 

Close enough to 1950.

I unloaded the position at 1948. A very good day. The goal for Aug is reached. Although I used SPX as a reference, I was mainly holding NQ futures and I'm pretty happy with more than 60pts gain per contract with some minor protection.

8/11/14 Monday

A sad news:

Robin Williams.

I have to show this!

This week up?

  I will unload my position at 1950. :--)

  I don't do the research about the market trend since it is useless for me. I just keep on checking on my old trading record.  Overall I'm making a lot of progress about not repeating the same mistakes.

  The market can't go up forever. But we can keep on studying and learning from our mistakes so that we can make money from the market consistently.

Did you buy last night?

   I posted my point of the view on some trading forum when the future sold off  last night.

As of today, Aug 7th.

Dow is around 670 points  lower than last week's high.

Fish on!

Going fishing tomorrow

with friends..