It's been a rough month for day trading for me. I mean, it started out great, then I lost on like the last 5, and it wiped out most of my gains for the year.
My account's current value is $6085.43. About 3 weeks ago, it was closer to $6500, so you can see why I'm disappointed.
I've sat out of any longer term trades for most of the last 3 weeks, as the market has seemingly peaked for now, and I didn't want to get into any trades when the market was stagnant or reversing (although a stagnant market is good for selling puts).
My most recent trade, the Vertical Call Spread on XHB, is going quite well so far. XHB bumped its 200 day MA, and has dropped off since then. Depending on how next week looks, I may close it out early and take the small profit.
Looking ahead, until the market shows its hand, I don't think I'll make any more trades for now. If it heads south, I may sell some call spreads like XHB, and but some atm puts. If it heads higher, I'll sell some puts and maybe buy a call or few.
Now we play the waiting game...
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