The books are now closed for April expiration I'm about to share the embarrassing results with you. The past few months have been great, so it's hard to complain in light of what many long term investors are going through… but, this was excruciating. Just a glance at the overview below will make the painful final tally crystal clear:
Condors:
- 4 trades
- 1 winners, 3 losers
- -16.6% average
Vertical Credit Spreads:
- 7 trades
- 3 winners, 4 losers
- -6.6% average
Calendars:
- 2 trades
- 2 winners
- +20.3% average
Totals:
- 13 trades
- 6 winners, 7 losers
- Overall ROIC: -8.2%... OUCH!!!
That pretty much wipes out the +8.7% ROIC from the previous month. As usual, these losing months are by far the most instructive. I captured many lessons and have refined some of my trading rules, but as described in an earlier post, some of it was just the law of averages. We just don't win every month. The other notable thing to keep in mind is that the types of battle can wreak havoc on one's psyche. It's very hard to jump right back in the saddle and do it again, knowing that the results could be the same. But here goes… May expiry trades are already in place and I'll make every effort to get back on the Gain Train.
Good trading…
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