There was a lot of chatter all over today about the big event, and how change is coming, blah, blah, blah. I'm not going to say much because this is a financial blog, not a political one (though they are very much tied together). I'll just say that the markets were about as, or more, excited for our new president as I was. Change is coming alright, but I'm afraid it's not for the better.
GS was somewhat frustrating to me today. Ended up giving up about $312 in profits if I hadn't sold it first thing this morning :-/. I did still make my target profit of 10% so I should be happy, it's just hard to see easy profits like that slip away. On the other hand that's expected with the way I play strangles. My idea is to make consistent, steady profits and not go for the big ones. Take a little piece on every play, and be more consistent at it.
Speaking of consistency, I currently have a profitable trade ratio of almost 89% :-)! Since I started tracking my trades the end of May I have had 39 profitable trades, out of 44 total trades. Not bad considering the crazy markets we've been in during that time. My trading account also crossed the $7,000 mark for the first time today, which puts me at 62.2% growth since May 27th. Every single trade I've closed can be seen here. (Note: In the interest of full disclosure, I did have another small account for a while where I was trying to see how small of an account I could start trading with. I am not counting those trades as that account was a bit of a flop. Also, my Iron Condor trade is not yet on my trade record spreadsheet since I haven't figured out yet how I want to track individual strategies in the same account.)
- Entered limit GTC sell order for $16.40 (~10% net profit)
1/20
Sold GS Apr 55 put - 1 contract for $6.95
- This closed out my long strangle for a net profit of $2.132 (10.02%)
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