Profits of $1271.62
End of Day Update
Kinda difficult day and a bit stressful. Overall came out ahead, but made a few mistakes along the way that cost profits. Hedging worked but I didn't sell the hedging component when it was $200 in profit and ended up selling it at a loss instead. It's easier to say this from hindsight.
Mid Day Update - Hedging
Hedging my $1200 in profits with equal amount of cash in TNA... market is directionless in lunch and it ussually tends to be moved easily due to low volume. Fearing a market move up over lunch and into mid day, I got in TNA as a hedge in close to equal amount of cash. The hedge is about 97% effective which is good enough for me. I am anticipating a sell off into close and I want to be positioned for it without having to endure draw downs and profit swings of $300 dollars at a time. Like this, profit will stay at $1200 for the rest of the day. If the market sells off into close like I anticipate it will, then the hedge is dumped and I ride the sell off into close.
Morning Update
Live trading today, this is the morning start carrying the position from two days ago with 415 added shares yesterday.
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