Hey Guys,
The market is back where it was to start the day yesterday. The S&P 500 is around 4,155 right now.
I had something happen this morning that is rare. I bought EQH from the Triggered List and within 3 minutes it hit its profit target. It had just released earnings and apparently the price was really volatile. The trades I post typically last about a week, so that was certainly not normal.
The other positions I bought this morning included STE from the main account as well as options for PHG and TFC in the options account.
I had a few positions hit profit targets. CDAY stock gapped up a bit past the profit target this morning. LBTYA hit its profit target yesterday. And my TSM options reached their profit target this morning. I also manually closed a couple positions that reached their time limits: LH for a partial loss and TRP for a partial profit.
About the futures trade I took yesterday, there are a few other points I want to address about it:
1) My position sizing approach for futures involves taking on more risk per trade than I do with stock trades.
2) Sometimes my futures trades have an uneven ratio between the profit target and stoploss. This is on purpose and varies by trading strategy.
3) Sometimes my futures trades have no time limit, which means it gets held until either the profit target or stoploss gets reached. If the "Closing By" field is blank, that means there is no time limit.
There is a section on the My Account page called "Futures Education" that offers more information about my futures trades.
I have a bunch of options positions that are reaching their time limits today. I'll be manually closing those near the end of the trading session today unless they reach their profit target or stoploss before then.
If you have any questions or feedback, I'd love to hear from you.