😊 Hello hive fam,
I was excited to trade today.. it's been about a month since I finally gave up trying to trade during the very LOW market (VIX) conditions.. It had gotten the lowest it's ever been. (at least according to my chart) I would imagine it did get lower.. IN THE GREAT DEPRESSION..
So, instead of winning some, then losing more, losing again, and again, before finally a small win, but then a loss.. (and repeat and repeat).. I just stopped watching my profits melt away, and stopped trading REAL money until VIX got high enough again.
Here's where VIX is now..
I want it to be between 18-22, but I trade real as long as it's >15
The market wasn't trending at all..
Price was hanging out around the average almost entirely..
This prompted me to take another look at the upcoming news for this week..
Personally, I don't consider the Consumer Confidence news a huge deal, but as long as most people do, and trade or not, based on that.. then that is something to maybe trade on..
So I went ahead and got in late into power hour. Just taking a swing at it today..
usually the sheeple will do nothing (deer in headlights) before some big news, and then overreact when anything good or bad is known.
I decided to take a small, calculated chance using a favorite strategy of mine.. the Iron Condor.. a strategy I used to trade a whole lot, but one I haven't used live, for a long time.
The iron condor is just 2 options put together, so as long as price stays (ends) between the two strike prices sold, then the trader gets to keep all the premium.
I chose some very far off strike prices (at about delta 5 on each side), to be on the safer side..
Turns out I should've added a bit more to the upside (put side), but it only got about 20% of the combined delta ever being in danger of losing the trade.
I don't know what was the reason, but my heart started beating faster as soon as I entered this one. (I think I put too much of my cold brew coffee in my cup.. need more water..) anyway, I calmed down when there was only 15 minutes to go till end and the trade was looking good.
Here's at 9:47am..
Lookin pretty safe, right?
Well, look what price did with under a minute to go..
I thought uh oh, I'll get stopped out.. but.. time was on my side and even this HUGE bull move was too late.. there was only a 4% chance it would reach the strike price I had sold. Still, it was some drama..
and here's my BIG $35 win..
If I hadn't taken out most of my trading capital to buy HIVE at .29, then that could've been more. but oh well.. then I might've had a heart attack! :P
plus..
