This month was basically a wash.
Unfortunately, bad exit management on one of the puts cost me $18 this month. All three trades used what I’ve labeled my “Slow Stoch” strategy, which you can see on my current trading plans.
The biggest problem with my GE trade was a lack of trust in the research I previously completed in my trade plans. My GE trade plan has a support level of around $24 or $25 depending on what time frame you’re looking at. Unfortunately, I didn’t trust my research enough to hold onto the trade longer and let the boat right itself.
Of course, holding onto that trade would’ve meant possibly busting through my 30% loss cap, so I give myself some kudos for sticking to that part of the plan. I think I may need to add a time component to my roll/exit conditions part of my plan.
I’ll have to think this through a bit and see how I could make that change.
Another significant aspect of my losses, beyond just this month, is coming from my commissions. My OptionsHouse’s commission rate is set to $5 for 5 contracts or less, which equates to $10 roundtrip on a trade. That eats a lot into my single lot trades…I think I’m going to have to find a better solution.
Hope you had a great month trading and as always if you have any questions or want to let others know how your trading is going, leave a comment below or email me at email@example.com
April Net Income: -$13.22
Total 2015 Net Income: -$232.46
|Strategy||Underlying||Option||Entry Price||Exit Price||Commission||$ Gain/Loss||% Gain/Loss||# Contracts|
|CSP||GE||Apr 17 25 Put||$.41||$.59||$10.07||($28.07)||-43.90%||1|
|CC||TRN||Apr 17 36 Call||$.65||$.53||$10.08||$1.92||18.46%||1|
|CSP||USO||Jun 19 16 Put||$.37||$.14||$10.07||12.93||62.16%||1|