Not a whole lot going on,
On the super low vol pump up during the last 13 days, I did enter a bunch of BSHs and set and enter much of the Jan STT at a higher UEL on the one down day we had. So the higher UEL is helping financing some of the BShs but not completely and I wait for ANY return of vol to get them paid off. When will this period end? This is the last time I work BSHs like this. I will enter a BSH factory and do opportunistic STTs, Sails and T5s. I just suck at financing these things.
My year is pretty crappy, I’m positive but it must be around 10% or so max thus far. I guess I can’t complain but I feel like I am just waiting for some sort of vol to happen so I can get out of my Dec STTs and start entering all the new setups I have (which all require some volatility to enter). The whole year went to shit re returns from the original Rhinos I had on in Jan-Mar and my poor payoff of BSH financing (RC’s didn’t work well enough and my over-patience for high vol entries of NPs didn’t go as planned). All of the poor performance is to do with my poor financing and using archaic strategies that we no longer use (it was all we had at the time). I attribute this year as a final year to my on-going learning and setup of the dream trading portfolio 🙂 If I can’t break 50% next year, I will question everything. I know that sounds crazy.
I did put on a small Rhino the other day but the up move has it in negative currently. I am still trying to get out of my T5 which I am seeing some value come back in.
As I mentioned, I am convinced that a BSH factory is a great core trade and pairing it with some opportunistic STTs, some Sail trades (High Vol entries and trend following entries with bias) will be the move going forward. I’ve been backtesting it like mad and I am getting crazy returns on any date I enter for the BSH factory, within 6 months or so. It’s a great income trade, but I can only use a fraction of the account on it re initial risks at the beginning. We have exposure for like 10-20 days. I will likely try to tool old structures I have on to compensate this risk so I can put on more and more.
I am back in Cayman now, boredom is starting to set in more regularly but I am getting a lot more work done 🙂