Another day of Sit on Hands for the butterfly. I was very tempted to adjust the first butterfly further down when mid day the RUT was down 3%. Did you notice that the RUT was the weakest index by a long stretch.
Very difficult to really pick a direction - I focus on getting the trades as neutral possible (hence the anticipation I am having over my RUT trade) and monitoring my Achilles heel over trading. So far I am doing really well, I have triggered a limit amount of trades and the quality of those trades are by my objective criteria :) very high.
The chart I have for you is the RUT butterfly which display 4 profit lines - each on day in the future.
So the red line shows my profit for Sunday evening/Monday morning. As you can clearly see the trade (at present) has a upward bias.
My lines in the sand are clear - and hopefully they will not be triggered.
Hi ET:
Very nice time-step. I was not aware that you could do that in TOS. Learning something new everyday. In a future posting a look at a calendar risk profile would be educational for most. Thanks for the great postings ! Many successes.
-Joe
Posted by: Joe | February 26, 2009 at 08:47 AM