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Tuesday, January 10, 2017

Weekly Trade Summary: Jan 1-7

Starting this week, I will begin posting the trades that I executed during the week. I've received countless emails asking if I could share my trades...so I'm finally giving in :)

Through 2015 and early 2016, I traded primarily undefined risk trades (strangles and straddles) on the SPX. If you've followed the test results on my blog, you know why I preferred those trades. Good win rates, good normalized returns per day, good normalized returns per trade, and low days-in-trade (DIT). The only issue for me, was that I needed to watch these trades closely...this close watching paid off in August 2015!

In 2016, my day job became more demanding and required many hours in meetings and on planes each week. With so much time away from my computer, undefined risk trades became uncomfortable to carry. I started trading broken wing butterflies (iron and put) in small size along with naked strangles in the first quarter of 2016. These worked out well. Work became even more demanding by April 2016 and my trading had to go on hold. In September 2016, based on the results of Q1 2016 and some ideas from fellow traders, I started trading (in small size) broken wing butterflies again. I haven't posted results from butterfly backtests on this blog, but will probably start towards the end of the year.

So, with that background, and in order to catch up, here are the trades that I executed last week:

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One trade above has the strikes and expiration hidden.  This trade was provided by a friend and I cannot share the details that are obscured.  Also, there were three closing trades in the trades that were executed last week.  The corresponding entries are shown below:

(click to enlarge)

(click to enlarge)

At this time I am still in the scaling up phase.  I plan to move from 2-lots to 3-lots this month, and will move to 4-lots by late March or early April.  I will stick with that size for the remainder of the year.  I will not have any more than 40% of my total account capital at risk at any point in time.

I may also add a Google Sheet during the next few weeks to summarize the results, so keep an eye out for the link to that spreadsheet.


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