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Trading Journey [ Part 2 ] - Consistent Set of Actions




The month of March2021 had been a rather rough month for me. I lost 100% in my Sell Put strategy for SPY due to the crazy volatility caused by the 10 year yield scare. I have since adjusted my Stop Loss to be triggered at 250% instead to avoid being stopped out from price volatility. I closed my PEPSI sell put option by manual cut loss 21 days before  expiration which ended up bring profitable if I didn't cut early...another reason to stick with the original game plan instead of tweaking my exit plan halfway after entering the trade. I just realized 100% losses from my bull put strategy on APPLE and JNJ.  


The losses was a bit hard to take and do I decided to take more risks by not sticking with my game plan for my overall trading strategy and added more options trades which did not follow my rules and went beyond my trading size. Once such trade is I did a SELL Iron Condor on Facebook when it was trading at $260. I looked at the chart and saw it was in middle a strong Resistance ($290) and Support ($240) so I decided to take the trade. However FB started to go on a massive bull run after I took the trade and now I am looking at a huge loss for this. Now all I have is HOPE that this trade turns out fine...


What I have learned is that to have consistent set of results, I must have consistent sets of actions. My trades had been all over the place....and this is now causing a lot of havoc in my trading plan. The damage is done and I have to somehow think how to fix this. Feb-March 2021 has been my worst performance ever, with close to 10 consecutive of losing streak including trades I shouldn't have done or closed. Anyway I must change and improve my trading plan as well as my trading psychology.

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