 Everyone welcome to this week's video update for Friday August 11th Hope everybody had a good week of trading. Let's take a quick look at the markets and then go through the trades for the week starting with volatility VIX had a little spike above 18 Quickly sold off and we're closing the week below 15. So quite a quite a range in VIX this week taking a look at the S&P S&P so on the 7th, so that was Monday had a big bounce big rally Tuesday a big sell-off followed by a little bounce Wednesday Had a sell-off followed by a bounce followed by another sell-off Thursday Big bounce followed by a sell-off and then today a little bit of a gap down And then rallied back up to close pretty close to where it opened the previous day. So kind of a wild week Nasdaq also finished lower on the week Russell finished lower on the week and Dow a little bit more sideways Gold and silver lower on the week Notes and bonds kind of back and forth 10-year yield on the rise again back up above 4.15 Oil stronger on the week Natty gas had a big sell-off Thursday But a little bit higher on the week Soybeans kind of choppy wheat kind of choppy to lower corn choppy to lower Euro in the pound kind of choppy sideways and Bitcoin kind of choppy hanging around that right between right between 29,000 and 30,000 for Bitcoin so Kind of a wild week of just intraday pretty pretty solid the sized intraday swings, right and Which can be can wreak a little bit of havoc on zero DTE So with that how did I do with the zero DTE all together a little bit of a red week down about 5,800 bucks Following over 30,000 in profits last week. So unfortunately couldn't follow up that one with a with another green week, but Based on what happened today on Friday got got a good chunk back So but still ended the week red. So let's break down these different zero DTE strategies Had an AM ratio No, Thursdays had an AM ratio. No Tuesday. Oh, yeah one Tuesday Tuesdays AM ratio minus 3600 My Monday Wednesday Friday AM ratio had three of those one Monday one Wednesday one Friday Monday was plus 2600 Wednesday minus 5,000 and then today a little over thirty one hundred on Zero DTE ducks had two ducks one was discretionary And that I booked 840 on that and basically what I did there is That was a day that market was really selling off. I waited for it to to sell off Pretty good. In fact, you'll see I got in at 1042 my time. So that would be about a little or two hours after the market opened. So I marked it as discretion. That's not really a mistake I'm just using the mistakes tag to to indicate discretionary in my system here But booked a $840 profit and then the duck today. So I closed half of it out at 20 percent. So I booked 600 The wrote the rest will actually settle today. So that'll actually be about a $1,500 trade Once the once the remaining settle and then next set up I don't think I didn't do any ratios this week. I don't believe no Yeah, so power hour trunch one trunch two trunch three. How did I do with power hour? Not so great Minus 19k and that's with a record my personal best power hour today on Friday So I booked what is that nine ten about 14,000 in power hour today But still down 19k for the week So a little bit rough for power hour on Monday Trunch one was a winner, but trunch two and three were losers Tuesday trunch one was a loser trunch two and three were winners on Wednesday all three trunches losers on Thursday scratched out a small win on Trunch one because I reduced my stop But trunch two and three were full losers and then like I said today all three trunches money so You know, there's been a lot of talk about, you know is is it's not working or market conditions have changed? You know, I mean to me. It's just a normal course of of price action You know, yes last week I had an 80% win rate this week I have a 33% win rate average those together It's still, you know, still profitable and still right in range with the with the win rate So I would highly encourage you to kind of back out take a take a, you know Zoom out take a bigger perspective look before you start changing things, you know There's a lot of talk about position size and that's what it really comes down to you know If you're if you can't go through a drawdown like this Based on the position size that you're doing you were trading too big to begin with that that's period point blank That that's it. There's nothing wrong with the strategy It's all about your risk tolerance and your position size based on the way that you're trading it So I'd you know, I really want you to focus on dialing that in and making sure that when you Do go through a drawdown like we saw this week that you're able to You know, accept it, you know, Mark Douglas talks about in trading in the zone being Completely accepting risk and that's what it comes down to it really does it really comes down to are you position sizing to a point Where you can completely accept the risk if you were to take full loss look I took full loss on all three tranches that day Does that suck? Yeah, it sure does but guess what that's what I signed up for when I chose the position size that I did So I hope that that you all kind of gravitate to that and you know, the the idea of kind of You know, there's a lot of different ways to position size you could do it based on your account value I don't do that because I trade other strategies in the same account If you have an account that you just trade zero DTE with then that's probably a decent way to do it And then you know based on your account value Your position sizing up as it grows and your position sizing down as it as it comes down That's one way to do it for me I like to choose my position size one month at a time and I'm doing that every single day for the entire month and Regardless of what happens and if I want to change for the for the next month, then I'll change it for the next month but you know just those little tweaks just those little Psychological changes in your in your trading can make a huge difference. So hopefully hopefully that helps Moving on Let's see quiet lunch Friday had one of those today Booked a little over 3,300 on that one Quiet lunch Monday. Yeah, I booked a little over 3,000 on that one Quiet lunch Tuesday. I don't think I had one. Yeah, no no quiet lunch Tuesday Wednesday p.m. Iron Condor had one of those for a little over 3,300 and Then uncle Rick came to play three winners One was 620 one was 2400. So the 620 booked 30% on four of my five Then the last one came right back and finished it max loss So only 620 on that one This one booked 30% on four and then the last one ran for me so booked over 2400 and then This one was a little under 2,000 So those are my zero DTE trades Dynamic butterflies so I yesterday Thursday taught the new time fly class So all of those trades will be posted in the butterfly trades channel If you haven't had a chance to watch that the course is posted in the butterfly course channel I also posted it in the calendar course channel Just because it does involve calendars as well So if you haven't had a chance to look at that check that out All right, so butterflies so This was a time fly that I that I booked Obviously before the class those plus 950 put on a new woodpecker fly in rut and actually that should be a Flathead woodpecker. Let me change that real quick Flathead woodpecker So put on a new one of those I'll show you that and then this time flies still open It's showing minus 4600 because I put on it was on one. It was on the day. Yes yesterday Yeah, where I added the calendar adjustment When the price was shooting up and then we had that huge sell-off so I ended up closing that piece out for loss But I'll show you that one. I'm pretty close to break even on that actually total And then we added a new one today after the class and so let me show you those Go to SPX Here's here's that zero DTE duck So you see I booked 600 on it and then I've got another 920 that didn't show up yet So a little over 1500 on that As far as time flies So here's the one that I'm in that I was in this one before the before the class But so this is where you know, I put it on price was right here price rallied up pretty big So I put on a calendar adjustment and then price completely sold off So I closed out the calendar for a loss Like I said about 4600 but you can see here. I'm up about 4100 on the fly. So Let's see Saturday Sunday Monday if this holds true, you know, I could be fairly profitable I would take that off Monday You know assuming we don't get a big gap up or down over the weekend And then the time fly that I first time fly alert that I put out after The class put this out today. It's up almost Almost 5% so remember we're targeting 5 to 10% So I just put this on today and I had an order to close it out if we would have gotten a sell-off Could have could have booked that a couple a couple of comments and and and uh and question or Post in the in the community Of people thinking that they were already up 10% on this one because they were basing it on the debit paid Remember I'm looking for 5 or 10% of return on capital, which means 5 or 10% of your Max risk or your buying power You know so in this case I put this on it's using about $10,000 call it 10,450. So I'm looking for at least 500 bucks A little over $500 would be 5% $1,000 would be 10% So not quite there yet Saturday, Sunday, Monday, you know Could be at 10% when we when the market opens monday If it sells off a little bit even more If it pushes up Well, we may have to adjust and add the at the time component of the time fly So that's uh, that's that Hope you guys like that strategy. I've been I've been liking it quite a bit All right next category dynamic calendars Tgif finally back in back in action given us a profitable trade Get all these checked make sure I cover everything So for dynamic calendars, uh, like I said, we had a winning tgif book 2300 on that had a 57 that I booked 300 A 36 that lost 280 Why is that showing five seven and three six? That's not correct. That was a 36 um B&B small winner, uh, a two three booked over 1100 Uh, small b&b winner small b&b loser and then the rest of these are open I've got a six seven a three five and a tgif. So let's take a look at those Oh, I didn't categorize that one yet. I think it's here. Yeah all right, so Here's that tgif that we just put on today Still pretty well centered not much going on there yet um, and then my this is my Six seven I've been trading these in my other account, but I'm putting them in here in toss for uh For reference, which by the way, I'm going to stop doing so So I've been trading some calendars in my trade hoc tradier account And so a couple things I want to note One when I post the trades I'm no longer going to be posting the the toss links. What I was doing is I was setting them up as theoretical Copying them and pasting them and then I'm having to save these and I'm basically doing double tracking Uh with those trades and toss, but I really executed them in a different broker Uh, it's it's just too much. So I'm not going to be doing that anymore So when I even when I post the trades, I will not be posting the toss link um, I'm just going to be posting a screenshot of the Of the trade from trade hoc so for you toss users who like to copy and paste the trade alerts, unfortunately, you are going to have to put them together yourselves Um, it's just it's just too much to to try to track trades that I didn't execute in toss like that So just a little public service announcement fyi All right, so this is the this is the six seven Um that I put on towards the end of the day here. It's already up a little bit centered We will take that off at one DTE And then here is the three five Which is up a little bit as well and centered and we'll take that off first thing Monday morning next category iron ducks Had a nice win on the duck Near max profit took it off for 60 cents So a $570 winner in spx and we also opened one in qqq So let's check out our ducks In qqq price is pretty close to where we put it on Rut we still have a duck It's right here in the middle. We'll be taking that one off next week. So hopefully that one can kind of stabilize and we can Book another duck head and then spx this one is a 822 expiration and we're kind of pushing towards the lower end of the range So if that one doesn't hold up and it keeps going we'll just take that off for a loss But if it bounces we'll still be in good shape NTT so a couple things on NTT You may have noticed in the uh trades channel where the daily Opportunities are posted. It's been pretty light on me posting current positions And that's because I really haven't been trading many positions. In fact, I have zero NTT positions on right now A couple of the closed trades closed a a gold one For loss and then closed a Netflix short for a winner, but I have no NTT trades on Reason why I'm not I'm not abandoning NTT. It's just I've got a lot of different trades on these days and NTT is just kind of taking a back seat And so, you know, I I found myself like not paying close enough attention to my NTT trades and then I would Realize, you know a day or too late that I should have gotten out and I just it's just been Almost a distraction. And so I've just kind of slowed down my NTT trades I'm not I'm not like I said, I'm not abandoning it But I am kind of taking a break to just see how I see how I like it And you know, this is this has kind of happened over the years with my trading where as as I as I Gravitate two different strategies Sometimes just based on pure capacity of of me, you know being able to trade everything Other strategies have had to take a back seat and and I've stopped trading them a good example is You know several years ago. I used to trade Earnings announcements all the time, you know pre earnings trades During earnings post earnings And it just became too much. And so, you know, now you see I I almost never trade earnings trades anymore So I've kind of I've kind of shifted away from those to make room for some of the other strategies that I like to focus on And and so I'm doing the same kind of thing with NTT I may decide I want to you know jump back in and and obviously I'll post those when I do But for now, it's just it's just been a little bit of a distraction and and from a capacity standpoint. I've just decided to kind of Slow down or you know, not not trade it in the at least in the short term So I'll keep you posted on that We'll still continue to post the daily opportunities each day and all that good stuff But just kind of informing you of where I'm at with it Um, you know, it doesn't you know part of it obviously is it hasn't performed as good this year either So that has a tendency to kind of lose my interest as much Um, I'm sure if it was you know performing Significantly like it like it was previously I would pay more attention to it But you know, it's just it's one of those things that just kind of naturally happen sometimes with with trading All right next category options selling and hedgehogs So booked a booked a nice winner $810 winner on a short strangle in oil Uh, and then these other ones are open. So let's go to the platform and I'll I'll show you all the open positions 6e we have a short strangle Price is hanging out right here. We've adjusted this one a couple times So we're we're pretty close to break even on that one, but we haven't hit a profit target or anything So still holding that CL this was a hedgehog that we've already locked in a profit on Just holding this vertical is kind of a downside lotto Or we'll let it expire next week ES we've got a hedgehog that's rocking The hogs are oinking This one here so it's up 8 or 900 bucks We've got another one that we just put on this week That's pretty Nothing going on with that one yet GC we've got a reverse hedgehog Price is hanging out right here. So not much going on with that one yet MES We've got two short strangles. This one is up a couple hundred bucks. We have not made any adjustments to that one this one we have adjusted and I'll have to double check my tracking sheet. We should be getting pretty close to profit target on that one I'll have to double check And then in queue we've got a hedgehog that's working well Up around a thousand bucks Zs we've got a short strangle. We've rolled down calls on this one a couple times. We are After adjustments, we're pretty close to break even on that one IWM we've got a hedgehog that's up a little over a hundred bucks QQQ that was the duck rut SPX and then VXX our volatility contraction trades So this was the first one that I put on we're up a few hundred on that. I'm looking for closer to four 75-ish About 50 of this max profit before I would take that off The second one we put on I've got the same profit target about 50 of max profit We were we were there or pretty close to there and I put in an order I got filled on one Contract so I didn't post it in the trades. I just posted it in the chat So I started with five. I I have four As soon as I got filled on one contract the market sold off So volatility started expanding again, so I didn't get filled on the full order. So Still holding both of those So that is it. That's all the trades. That's your market update. Everybody have a fantastic weekend And we as far as live streaming goes I will be streaming zero DTE at the market open on monday As well as for power hour monday. So look forward to seeing you then. Have a good weekend