Another horrific day. Today I had to take off one of the overlayed Condor spreads on the Call side, as it hit my adjustment point. To soften the blow, ever so slightly, the Put side also hit it's profit target and sold out. as mentioned in previous posts, I am maxed out on adjustments, so at this point my rules say we just lick our wounds and take it off. Today was that day, and I've now assured myself of a certain loss. Just for grins, here's the picture of what "certain loss" looks like on the trade.
I'm sure you'll agree, that this is ugly with a capital "UG". I've locked in a loss of about 5% on the trade and still have some risk on. We'll see how that goes. This hard trending market is tough on anyone trading neutral trades. This month my best trades have all been directional. They have served to generally balance things where I lost on the non-directional. We still have 21 days to go, so hopefully we can salvage some goodness.
Good Trading...
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