 Hey everyone welcome to this week's video update today is Thursday July 2nd Obviously Friday the 3rd closed in observance of Independence Day. So hope everybody has a nice long Fantastic weekend relax get away from trading recharge the batteries get ready for Monday. So we're gonna talk about the alerts We're gonna talk about the current portfolio. We'll talk about the market over overall And then we'll end it with a kind of a recap catch you up to what we're doing on the day trading strategy in Anticipation of the upcoming day trading course that is coming soon So let's let's actually start with let's start with the market. So this is a chart of SPX I was I was watching something recently and this individual was adamant that their trend lines were Kind of the holy grail and and so this is SPX and so I wanted to point something out because it's You know, I think I think it gives people a false sense of security or a false sense of what's actually going on When they try to use those things as crutches. So if I let's let's just say for example, okay so the market's kind of trended sideways here and and You know, this person had all kinds of trend lines on their chart. So like they had one from here Let's just add a trend line So kind of touch this point and this point here Okay, so that's that one they had one here from the very bottom to At that point it was it was right here Okay Then they had they had a couple more. I don't really remember. Maybe it was like this one to that one Anyway, so what they were saying at this point here was okay If we hold if we hold this trend line, we're gonna go higher if we break it We're gonna go lower. Well, if you if you see what happened here I mean what whichever one you're looking at I mean it kind of came down and tested it and then it rebounded and they thought okay now this thing is gonna rip higher Would it do the next day it rip lower it broke it definitely closed it broke below both trend lines So that should be super bearish right and that thing and now the market should just go down and see these other levels This level this level this level and maybe the world will come to an end But what would happen? Well, it just ripped higher and then now it's back up in above the trend line So I just point this out because they're just there's so much stuff out there that just doesn't it just and of course There's tons of times where you could say oh look yeah But this time the trend line broke and but the reality is it's a 50-50 deal Like I don't care what your trend line is or your resistance level or anything like that It's a 50-50 chance. So if you want if you use them to help you with just Engagement and a comfort level to enter a trade. Cool. I have no problem with that Just make sure you're still using probabilities and strategies around that Because you know people who just trade directly and just use this kind of stuff It's just I don't know it it works about 50% of the time and that's just a perfect example of what happened So S&P's ripping and roaring again. Let me zoom in a little bit more here and let me get rid of these stupid things Remove remove. Okay, so, you know, obviously the markets went down last week I you know and personally I really after kind of some of the things that were that were going on and just the price act More the price action than anything else. I really thought we would potentially continue to roll over We did not and so we ripped higher all week I mean today was up even more, but it kind of fell off towards the end of the day but Very bullish week here. So What do I think next week? Well, I think I think we're gonna continue to see some of this two-sided action I mean, you know, we saw this massive downside that we saw this massive run higher and now we're starting to see some two-sided action So I still think we're gonna see some what what seems like volatile swings, but staying within a fairly narrow Range, you know in kind of this this area where it's big swings, but inside of a consolidation box So I think we trade sideways for a little bit. I don't think we ripped to new highs I don't think we're crashing But you know, we don't know what's what's coming either nobody does so that that's kind of my thoughts I think we'll continue to just keep managing keep using the same strategies, you know If you've noticed we we've started to do a lot more defined risk iron ducks weekly double calendars iron condors And with the heightened volatility a the price swings are so much bigger So I like the I like having defined risk, but also that you know, the strategies that we're trading have been doing very well And while we still have some strangles on we'll go through all the positions and still some futures and things like that We're we're our position sizes have gotten smaller and we're doing a little bit more defined risk So I'm sure you've noticed that but I think it's a good thing We're and we're we're hedging our portfolio. So we're still making money yet We're fully hedged to the downside and that is a good thing So we'll continue to do that lots of iron ducks lots of weekly double calendars iron condors We will still mix in undefined risks futures different things like that But we'll focus more on on that and just keeping our position size smaller So, you know, obviously our profits aren't going to be as big But but but the consistency doubles and singles is what we're looking for so look for more of that in the near future Let's go to the alerts starting with the 29th, which was Monday first alert was a weekly double calendar We already had one on this one had three days to expiration in the front week And so we added that one now obviously with price ripping higher that that did not bode well for this trade So we went ahead and just closed that out Yesterday on Wednesday So took a loss on that one next trade closing trade in IWM So we closed out a few of our bunkers and remember, I mean, you know I know I heard I got a couple emails from people saying are you sure we should still do these bunkers? They don't seem to be working well. Well, of course, they don't work well when you're when you got the market going straight up like this But we will continue to keep them on because like I said, if you can make money and be fully hedged That is a very very important thing. So yeah, it took a loss on that, but it's okay I mean it kind of it served its purpose didn't work out You know, we didn't get the downside action that we were looking for but it still served its purpose And then right away we put we took that one off put on another one with this one with a hundred and nine days to expiration and Remember you need to do what what you're comfortable with as well I mean we're these the goal of the alerts is to show you how we're trading and what we're doing and what we're thinking You know explain why we're doing what we're doing that doesn't mean you have to do the exact same thing So if you are more comfortable or you're more bullish or you don't think you need as much of a head Then don't do it or do less But but it's but you know after doing this for 20 years You've got it. You've got to protect yourself in some way So whether that's some other form of short Delta or this strategy, whatever it might be You know, I do think it is critical to do to have a plan before the market goes down You can't there's nothing you can do after it goes down You got you got to you got to implement before it goes down And if the market does grind higher if it rips higher those positions are gonna take heat and that's just part of the game So got another bunker on in IWM. Let's check out IWM. Oops and Oops, I accidentally opened my tasty works platform. Let me close that back down. All right, so IWM Go the analyze tab, here's the bunker that we put on here. So this is the one out in October We also have one in September and We're up a little bit on that we're up more But again, we were looking for a big push down before we close that out for a profit still may get it Got some time left. We want to we want to exit these when we've got about 60 days to expiration So we've got some time left on this Before it starts really sinking into Death Valley, which we definitely want to avoid So we'll be dealing with that in the coming weeks While while we are on IWM got a couple different vertical spreads this one out in August You see prices hanging out right here by the by the break-even point and then this one still In July and we've got a decent profit on this one if this one continues lower or just kind of stays where it's at We're over 50% of max profit So we'll go ahead and roll this one out to August both of these keeping that for that short delta for that downside bias exposure Next trade opening adjusting trade in SPY so we added an iron condor did this one with 52 days expiration and The very next trade we close our one in July So we you know we don't roll four-legged spreads But essentially we open this one in August and then closed out the one in July We had both orders in at the same time. So this one just happened to fill before that one So if we take a look at SPY got a few different pieces in next SPY Oh, actually, we don't we closed out those iron ducks. So we've just got this We've got Okay, so price is hanging out right here so well within range just waiting for some more time to pass And some more theta to decay if we do get some, you know Continuation higher will potentially put on another bunker. Maybe do that in SPY. I like doing them in IWM it's a little bit lower price symbol and Still get a good bang for your buck and the small caps have been more volatile. So We'll look to continue to do that, but that's SPY Closing trade that's the weekly double calendar I mentioned that we closed after price ripped through our upside break even SPY so we had an iron duck we went ahead and just let this one expire It was it was well into the beak and so there's no reason to pay. I couldn't even get out at Under a dollar which would give us full beak profit. So with thinkorswim. There's no expiration There's no exercise or assignment fees So didn't have to pay a commission to get out and so we just went ahead and let that expire booked beak profit on the trade and so that is basically The difference between the call spread is $1 We sold it for $1.29. So it's $29 per contract So 29 times 5 whatever that is a hundred hundred some hundred and forty some dollars. I think That's what we booked on that one Next trade opening trade SPX weekly double calendar did this one with eight days in the front week 11 days in the back and so let's take a look at SPX Cspx so this is the only one we took our took our other one off today Basically for a scratch tiny profit. So this is the one we just put on so Price is hanging out right here. That's I can't remember who it was in the community some somebody said that they are there They didn't they they they lost their confidence in this strategy So I did want to kind of address that because if you lost confidence in this strategy, which has been one or more are more profitable in this environment I don't know what to tell you because this has been a really good performer But basically and maybe it was you know the couple this week We took loss on on one this week and then took a tiny winner on one this week But remember I mean this is this is the risk of this strategy is something like this where you just get a one directional move during that week with no pullbacks and Implied volatility declining. So if that's not your style then then yeah, that's not your that's not the strategy for you But that doesn't happen all the time. And so this has been a very good performing strategy And keep in mind. I'm so so if you look at it right here, so You know right now. So what we would we pay to put this on about 700 call it 760 bucks? and if you if you go to you know the day before expiration So the ninth or the tenth let's just say you took it out took it off on Thursday I mean you're talking about a and this this doesn't Take into account what price or volatility does but if it stays kind of in this range, which is a pretty decent range We're talking about a profit about let's call it 330. Okay, so you're risking 750 to make a potential profit of 330 Obviously if implied volatility spikes, I mean we you know Not not this week, but the week before we had a we had a profit of over $1,300 on one of our one of these positions and we were only risking You know, maybe seven or 800 bucks So if you can if you can get this kind of bang for your buck and Not to mention, you know, it's not always the amount of profit but the The probability of getting a profit is is so I mean that the probabilities are in your favor and the chance of booking You know as much or a good percentage of what you risk is pretty solid with this strategy So I'm not I'd like I'd love to hear more about kind of the reasoning of why you lost confidence in the strategy But you've also got to remember that you you can't look at a couple trades And think oh, that's a good or a bad strategy I mean everything that we do here is based on probabilities And statistics over time over a large number of occurrences And so we're just we're just putting the probabilities in our favor And and trading that way, um, you know, there's always going to be short short-term situations where you have Where you don't make money on trades or you lose money, uh, but that's that's part of trading So you've got to have a probabilistic Mindset a long-term over many occurrences type type mindset because if I mean you can get in a situation where you lose 10 in a row But that doesn't mean anything As long as you're you know keeping your probabilities and you're buying power and check You know the other thing I think may have something to do with it anytime somebody starts Doubting trading it's because either there's been a little bit of a streak of losers which can happen or They're trading too big, right? I mean if you're trading too big for your account size and you and you have a losing trade You know, you're just going to start having doubt in your mind and thinking. Oh, this doesn't work And but the reality is if you were trading small and it in a size that was insignificant Uh to that to that mindset Then it's not going to be a problem because you're going to know that over time you keep doing these Put them on taking them off putting them on taking them off. Uh, you're going to be booking profits But you've got to take that long long term a lot of occurrences type approach to this type of trading So hopefully that helps Uh, and if that individual's listening, I'd love to I'd love to hear more post in the community Kind of why you why you lost your confidence. I'd love to I'd be interested to hear if if it wasn't something that I discovered Uh next trade closing trade in spy iron duck So we closed out another iron duck this one again book big profit price ran higher Very little chance of getting back to the duck head. So we went ahead and just closed that early. This one still had, um, let's see this was This was july July 8th, so yeah, I still had still had about a week left to go But there's no reason to tie up that capital if you have a very little chance of getting back to the duck head So we just closed that out Book to profit and we will redeploy that next week. Hopefully after we see a little bit of a down day But either way, we'll be adding some ducks next week at least one Next trade closing trade in spx. So this is our the one that we did today. I think we booked I mean we booked a tiny profit basically a scratch trade on that volatility collapsed kind of Collapsed our profit tent, but we're still able to scratch out a profit. So Uh, that is it for the alerts. Let's take a look at some of the other positions starting with es So we've got a couple different long put verticals here This one's just outside the the uh break even area And this one same thing. So we've got two long put verticals holding this for that short delta exposure Gc gold uh gold was coming down nice earlier in the day and it ended up closing up by almost a half percent But if we can get a little bit more down movement a little bit more time to pass I will book a profit on this gold iron condor Natty gas natty gas has had some pretty crazy swings You can see big move down and big move back up which got us right back into range We're up about a little over 800 bucks on this since we've did the roll Still working our way back to profits on that natty gas a short strangle, which has been adjusted into a straddle Zb zb was at also down today early and then it it spiked higher And if it if it if bonds were down today, I was going to go ahead and roll this out to the next cycle There is 22 days left Uh on this trade and so once we get down to near around 21 We'd like to roll that out, but I figured it bounced back up Not by much, but it bounced higher if we can get a little bit of a down day On monday that'll bode well for our roll even if we don't no matter what happens on monday We'll be rolling this out to the next cycle Uh and and continue to extend duration on that apple We've got this long put vertical in apple you can see prices Well within range here pretty close to where we rolled it holding that for some short delta same with de prices hanging out near the break even Same with di a we got a couple of short call verticals here price hanging out with the near the break even on that one And uh inside the range on this one IWM already mentioned qqq got a couple sets of well, we got a bunker Uh you can see prices hanging out right here So need some downside action to benefit that And then same with our two short call verticals that one just outside of range This one a little little ways out of range. So need some downside in the cues to get back into range there SMH we've got this adjusted strangle Prices hanging out in the upper end of the range right here If we look at just the put side you can see we still got a decent amount of premium left So we're not looking to roll the puts up at this point unless price were to continue ripping higher We've got Oh, yeah, we already rolled this out. So we we're in august with 50 days to expiration So definitely not looking to roll out in time anytime soon We talked about spx talked about spy Uh, yeah talked xbi is the biotech etf We've got this strangle that's been adjusted into a straddle Prices hanging out right here just need some more time to pass maybe a little downside action to benefit that XL K our last short delta position price just outside of range there Need some downside action and this is in july. So if this thing continues much higher We'll roll it out to august and if it continues lower, we'll we'll book a credit and roll it out to august So that is the plan. Those are all of our alerts. Those are all of our positions So let's chat about the day trading. So what's going on with the day trading? So this is for the week for this shortened week six twenty nine through seven two Little bit of a loser down 277 bucks on the week. So a couple things I want to talk about Let's go day by day. So monday Uh, monday was a losing day lost about 2,300 bucks. Uh, I posted in the facebook group Uh, we we had a loser in roku and I talked about how mickey mouse got me on disney. So Speaking of let me go to the Facebook group So if you're not part of this yet and you want to kind of follow some of the things that we're doing we post Daily in here with our updates on the day trading So this is the one from today for example Just go to facebook and search for day trading options for income or search navigation trading You'll see this day trading options for income private facebook group You we haven't we haven't even talked about this to anybody else We've just I've mentioned it a couple times to pro members, but if you want to follow along make sure you go there Check that out will be once we get a little bit closer to the class We'll be doing some live streams and posting some additional stuff on that day trading. So That is the place to follow Going back to the slides here So that was and and on this day here on the 20 on monday. I mean we really I really traded pretty well Sometimes the bad guys just win, you know, so that was just I don't really have anything to say About making a mistake Obviously those were a couple sizable losers and I'll show you what Well, let's just keep going This day booked about a hundred. Well, not about booked 160 bucks. I was Rushing out so I didn't get a chance to get my screenshot of the positions that day. So that's just 160 bucks Not much going on there pricing price swings were kind of Back and forth. I was I was down early then I was up and then it kind of came gave a little bit back And anyway, I just uh booked a little bit Next day was a good day, uh over almost 1600 bucks Now this is this is the day that I kind of started tweaking a couple things You'll notice a lot more trades and so I traded a lot more positions I reduced my size significantly And the other thing that I did is I'm I'm more The the P and L swings are just too big and that's that's one of the reasons that we're not You know brushing this out to to do the course with you all yet is because we're still tweaking a couple things because I don't I don't I don't want you guys to get shaken out of this because it's it's a really good solid foundational strategy But there's just a couple little tweaks that that we need to make so that the P and L swings Are not so big because yeah, it's great when you have big, you know winning days couple thousand three four five thousand dollar You know two thousand dollar winning days But if you have those as losers too a lot of people, you know Emotionally can't handle that and I don't I don't want you guys to get shaken out on a couple bad days If you get down and so we're really Focusing here the next couple weeks really focusing in on reducing that those big losers And you know, this was a good example of that. I mean we had a small loser in apple or $330 loser in apple And you know a couple other little losers and then You know some decent winners here. So a decent day overall I really like that now a couple things We another one other thing we did different on this day is is you know, we're cutting our losers quicker letting our trying to let our winners run a little bit and This this also included some trading after 10 a.m. Though and that was that was part of letting the winners run and so You know, there's a couple a couple things one Uh, there's there's kind of one one strategy that we're using the first part of the day And it's more of a I guess you'd call it kind of a counter trend trading where you're You are you know going against the grain and you're because the market is is moving volatile in both directions And so but then after you know about 9 30 central time so after the market's been opened about an hour 60 to 90 minutes Then you'll start seeing things where the market's kind of grinding sideways or kind of picking a direction And so there's a you got to have a you got to kind of switch and have a completely different mindset from when that happens And so that's just as those are a couple of the things I don't know this probably doesn't make a lot of sense without, you know Understanding the full strategy, but I'm just kind of give you a little bit of insight and mindset stuff about what we're thinking about Because we really want to make this successful for you guys And we don't we don't want to roll it out and people have you know Happens the first week happens to be horrific and you have a bunch of losses and everybody just kind of Gives up on it because there is uh You know it is a very powerful strategy But we want to make sure that it's safe as well and not and nobody's getting hurt because that's the that's the last thing That we want to see happen So that was a good day there next day Squeak to add a little profit $291 profit you can see we had two big winners and then Shopify was a decent size loser apple was a decent size loser So if we could have you know really minimize those two that was that was where I let things get away where I let those get a little bit too big And I think it was beyond maybe two. I had a decent winner and I ended up Giving it back and not not booking profits quick enough. So Uh could have been much better, but still still a green day On uh and that was today. So Oh wait. No, yeah, that was today. So actually let me bring this up I'll have my have my notes a little bit better. So this is kind of where we stand. But yeah, so today I was this I was thinking of a different day. So I was today. I was on thursday I was up around three grand And what I what I didn't take into account is that on a day before, you know going into a holiday like this You're just gonna almost see grinding sideways and I I held I held way too long thinking that I was going to get a move in the direction and Just never got it and then just held way too long and then had had I ended up giving it back I wasn't paying attention because I was doing other things But that was a real disappointing. Uh today was really disappointing because I was up really nicely And I've room, you know, here's the other thing. I remember thinking, okay I looked at this I was like, oh my biggest day since I've been posting here is about 4800 bucks I was like, I got a chance at having my biggest day ever And so a little bit of a little bit of greed seeped in and Anyway, I gave most of it back. So only booked 291 on the day. So that was a very disappointing So here's where we stand a little over 5300 net Total since we've been posting since the 22nd Uh, like I said a couple hundred dollars in losses total for this week. So this uh, monday through thursday Uh, lost a couple hundred bucks. So You know, just it continues to be a learning process. It continues to be a lot of fun Um it and and I know we're gonna get it From a standpoint of just the little tweaks that we need to make but like I said, I just I don't like the big losers I want to I want to smooth out that equity curve. So if you were to plot Your profits and losses on an equity curve each day I want to see a more consistent move higher I do not want to see the roller coaster ride That we're kind of seeing right now. So that's what we're working on. Hopefully that is helpful Kind of getting you guys up to speed on that like I said follow the facebook group if you want to see more each day And we will continue to keep you updated on when this is going to be out I've I've got the course almost finalized and we'll be We'll be uh reaching out and letting you guys know, uh more firm dates, but it is july I want it. I want to do it this month. I can't don't hold me to that It might be august, but we are going to shoot for Sometime later this month to get this rolled out. So hope everybody has a long great weekend. Everybody take care Be safe and recharge the batteries. Look forward to monday. Take care