The Stock Index Portfolio (19) was up on the day.
You have to have a strong mind to trade this market.
Coronavirus, news of recession, crude oil trade wars, limit moves, and execution errors can play tricks on your mind.
If you ask me what to do intra-day, I’ll err on the side of caution and say “take a break” and wait.
We go over the latest trades and data as the data can lead to the truth and an end of day analysis can give perspective.
Cobra III ES and NQ were the top strategies shorting into the close. Since Cobra III NQ trades 2 contracts in both the 200K Portfolio and Stock Index Portfolio 19, it was up $7,700 in those portfolios.
We are at the highest daily dollar ranges ever so there is a case to cut back and adjust but after the winner in Cobra III, while also being in a drawdown in the portfolios, it’s a good time to start the portfolios.
If you want to trade less strategies and reduce risk, we discuss several options:
1.) Turn off automation at the open if there are big gaps.
2.) A 16 system variation (Stock Index Portfolio 19 without the overnight strategies),
3.) Trade a few Infinity strategies. (Infinity strategies hold trades into the close.
I plan on testing some more of the ideas related to not trading certain strategies if there is a large gap and reducing trades or changing exits if VIX and Range are high. All of this testing will take some time and there is no immediate adjustment.
I have found changing too many things too quickly usually causes more loss.