July 31 Trades Update

With the US market going up last night, I buy to close additional ER2 puts last night to free up margin & took additional losses. Some accounts are left intact with healthy profits still but others are either reset to baseline or negative. A good reminder to stick to the rules which often is the hardest part. I can't say enough of this. I reckon that there is nothing wrong with the strategy, its the execution that is the issue. I learn a hard lesson this round. I am still in the game & my journey in the trading world continues. I need to pick up the pieces & move forward. I will also need to finetune the strategies to give it more room for huge moves & also do better in risk & money management. In any case, I opened additional ACH & STLD covered call positions for Aug. On the Japan market, I squared off the Sep N225 21000 Calls options for 1 pt today. I am looking to buy to close the Sep 20500 call options for 1 pts next. At the next opportunity, I am looking to open new Nov N225 calls around the 21000 to 21500 range.

July 28 Trades Update

What a week it has been for the US market. I have to close some ER2 positions to free up some margin & take some losses. Its a good reminder to respect the market. It a good reminder to stick to the "rules" of one's strategy. I will be watching the market closely next week & may need to take additional actions. On the Japan side, the N223 calls have decline with the index's huge drop in my favour. I will be looking to close the call options next week going along with the "rules".

July 24 Trades Update

For the Asia market, I sold additional Oct N225 20500 Calls for 20 pts yesterday & today. This completes the income set up for Oct. I am looking to square off the existing N225 Sep’s Call options to free up margin & to sell into Nov when the opportunity arises. For the US market, ACH resume its strong upwards trend by closing at $49.68 last night. I actually still have some ACH stocks(bought at $46.21)which I have not written calls against. Yes, I am guilty of speculating here. Naughty naughty! Yesterday, my wife, Doreen starting trading. She wrote her very first Russell 2000 Aug puts with an objectives of generating 3%-4% monthly return on her account. She will basically be just following my “system”…a trading strategy which I have finetuned over the years of my trading journey with a 100% success rate, backtested over the last 15 years. We shall see how she progresses. Life is a journey. Her new journey into the trading world has just begun.

Jul 21 Trades Update

The US market pulled back significantly retreating from record highs last night. While most counters decline, ACH was holding up pretty well with a 0.87% upside still. I went ahead to sell Aug ACH 45(ITM) calls for $4.00 last night against the stocks which was bought for $46.21 on Wed(18 Jul) & that means a called return of 6%. Should ACH decide not to behave from now till Aug 17 & go south, I have a $4 buffer before I start losing money. Anything can happen in the market. Trading is about stacking the odds in one's favour & to have an exit strategy that you can stick by. Thats my motto. There will be losses but keep them small. Live to fight another day. Have a great weekend!

Jul 20 Trades Update

For the Asian markets, I sold some N225 Oct 20500 calls for 30pts yesterday. Last done 25 pts. I am looking to sell a few more Oct calls to complete the income set up for Oct. I also squared off the N225 Aug 20000 Calls for 1 pts today. On the US front, I bought some ACH stocks @ $46.21 on Wed night meant for covered call plays. As of Thu(Jul 19), the ACH Aug 45 calls closed with a premium of $3.85 which yields a call out return of 5.7%. No complains here. Possibly, I will be looking to sell the Aug 45 calls(ITM) tonight. Today is options expiry day for the Jul options(US). I expect all my Jul options to expire worthless for the ER2 plays. I expect to be called out for the covered calls plays "GG", "CSCO", "ACH". Jul should closed nicely & beautifully for another successful month of trading.

July 17 Trades Update

I sold additional Aug ER2 640 puts for 0.1 pts last night. Nothing too exciting here. I queued to sell Oct N225 21000 calls for 20 pts this morning but did not get filled. I will be closely looking at N225 specifically for Oct's income set up this week.

July 13 Trades Update

Last night, I sold some Aug ER2 950 calls for 0.2 pts & additional Aug 640 puts at 0.15 pts too. Next week the Jul options will expire & I expect smooth sailing all the way. I am still looking to set up more Aug ER2 & covered call plays next week to hit the income target for Aug for the US accounts. On the Asian front, I sold additional Sep N225 20500 calls for 20 pts & for that completed the income target for Sep for the Asia accounts. I will also start looking out to open Oct N225 21000 or 21500 calls for Oct's income next week.

July 12 Trades Update

Last night, I sold some Aug ER2 640, 650, 660 puts for between 0.15-0.25 pts. Will look to sell some ER2 calls on the next up day on volatility.

July 11 Trades Update

I sold some N225 Sep 20500 calls for 15 pts. Last done at 10 pts. There may be more volatility in the market & am looking to sell more N225 Sep & Oct calls. I will also be looking to sell some Aug ER2 puts/calls this week & next week for Aug's income play.

July 10 Trades Update

I have been wanting to sell some Sep N225 20500 calls for 20 pts but did not get filled. The market has been on a sideway trend mostly with no volatility to support my income plays. Still looking to set up options plays to achieve the income target for Sep.

First Principles in the Science of Getting Rich

Something to ponder....some principles from a book "The Science of Getting Rich"... I am now reading.

There is a thinking stuff from which all things are made, and which in its original state, permeates, penetrates and fills the interspaces of the universe.

A thought in this substance produces the thing that is imaged by the thought.

A person can form the things in his thoughts, and by impressing his thought upon formless substance, can cause the thing he thinks about to be created.

Law of Attraction

I was having lunch with a trader friend yesterday & the topic of "Law of Attraction" sprang up. Interestingly, he was a living example of the workings of the LOA. He showed me a laminated little card which he has kept in his wallet. On the card was a list of "milestones" which he has drawn up something back...things that he hope to achieve by a specific period. eg; to retire by 200x, to be a millionaire by 200x, to be debt free by 200x. Guess what, yep..todate, he has achieved every single milestones. As incredible as it sounds, it appears that everything that he desires & visualise, manifested & materialised. Another friend yearned for a prestigious golf club membership in China & a BMW X5 & has pictures of it posted on his "Visual board" & looks at it everyday. You guess it...he recently has both items just this year...a reward for himself having met his income quota through trading. So what do you think? LOA at work here? Sometimes, the things that we can't see are far more powerful than the things we can see. Go figure.

Jul 05 Trades Update

I recently broke my own rule by selling the ER2 Aug 610 puts for 0.25pts in advance. I am not suppose to sell any Aug options till the last expiration week of Jul which is 2 weeks from now. Well greed has crawl right in. Bad boy!