I spent the winter skiing a lot. We had a number of house guests and Kiki was here over the Xmas period. She's a snow boarder and I enjoyed spending a few weeks with her again.
We've also been travelling and will do a lot more of that this year. We recently were in Dubai in the U.A.E. It's an amazing country where the vast majority of its residents are foreigners. There are literally hundreds of new skyscrappers. The pic below is my favourite. We went up to about the 140th floor to see the view. Its hard to find a building older than 10 years.
The result of this has been a change in timeframe for my manual trading. While Flo is still grinding it out day trading, I've moved to a daily timeframe for my manual trading except on the few days when I can sit in front of my workstation.
Using the daily timeframe is the same as any other timeframe except that I can make my market decisions outside trading hours.
I run a number of live trading accounts and I have decided to use this blog to document the trades in one of them. Not all my trades will be shown nor will the size of my total position as trades areallocated to different accounts and can be exited differently. I'll post after the close of the day when the trade goes on and before the open of the next trading day. The post will include a picture of the execution confirmation in the IB trading account.These trades can have a much larger drawdown per contract but with a commensurate larger profit.
I intend to post regularly, whenever there is a trade I want to share.
I'll start off with the trade below which was executed a couple of days ago:
As you can see, I basically went short using options. The trade is profitable now. It would have been profitable even if the proce stayed the same or went against me slowly. The risk is limited to the difference in price between the strikes of the options. The profit potential is the difference between the sold premium and the bought premium.
This trade is one of the usual Outside In trades. My rules trading daily charts are the same as the rules I use for intraday.
