Quick disclosure: this is a personal trading journal, not investment advice, and my results aren't typical. I trade at tastytrade with my own money. That link and the one at the bottom use my referral code, so I may get a referral bonus if you open an account through them. It doesn't change what I write. Read the full disclaimer.
This month's FOMC week has its own post: Break-even for the year, three trading days after FOMC →
Trade Summary
I held one /MNQ through all of September and mostly did nothing.
And I still ended the month up $2,164.03, plus 22.2%. No deposits, no withdrawals.
It sure didn't feel like that for the first two weeks. By the 15th I was down $1,249.53. From there to the end of the month, up $3,413.56.
Year to date I'm up $1,542.17, plus 14.9%.
The first half: down $1,249
On the 1st, Tuesday, the account lost $819.65. The contract alone was minus $775.00.
The news that day was the U.S. striking Iranian targets. Brent went above $95 a barrel and the 10-year Treasury yield hit 4.79%.
Two days later it bounced right back, plus $846.67. Then on the 10th it dropped again, minus $751.83.
That day WTI crude jumped to $102.48, the 10-year topped 4.94%, and the August PPI (producer price index) came in hotter than expected. Traders were pricing a 70% chance of a rate hike the next week.
That's just what the news said. People grasp at straws about what moves the market anyway.
Other than the $50 TQQQ autobuy, I didn't touch a thing.
I just kept watching the charts, and I was extremely annoyed. It feels like this account has been stuck in $8-12k purgatory for a few years now.
And it doesn't help that it's all my moves, my mistakes. So really I was just annoyed with myself.
I felt like the only good move was no move.
Rolling into December
The next day, the 11th, I rolled the September contract to December. Sold 1 /MNQU6 at 29,135.25 and bought 1 /MNQZ6 at 29,429.50, one order at 8:33 AM, $1.41 in fees each side.
Same position, new expiration. The September contract had lost $755.50 since the August 31 settle.
The last ten $HTZ calls from August expired worthless the same day.
FOMC week
The lowest close of the month came on the 15th, $8,504.41. The day before the Fed.
Everyone was expecting a rate hike, so I felt like the market was gonna go down. They hiked a quarter point on the 16th, and I held the contract anyway, against my instincts.
And once again, doing the opposite of my instincts won. Two days after the meeting the market was going up, up and up, and I was almost back to break even for the year. It's been crazy.
Then Monday the 21st. I noticed the move early in the morning, and of course I never thought about selling.
The contract made $1,735.00 that day. The account closed at $12,200.53, a new high for the year, $28.02 over the old one from January 27th.
The whole week is in its own post.
New highs, then some back
The next day, the 22nd, it closed at $12,514.24. Best close of the month.
I told myself, fucking finally. But I also hoped it would stay above $12k.
And I was a little worried, because in my experience all-time highs in my account are almost always followed by a big red day.
The 23rd took back $747.61. That was the day the 10-year went above 5.11%, the highest since 2007, and September business activity came in above forecasts.
Then the 28th, the worst day of the month. Minus $968.38. The news was Trump rejecting Iran's proposal to end the war, and the 10-year at 5.24%.
Welp, I knew it. Should've bought puts, I guess.
But I know the moment I buy puts, it'll just go up even more.
I didn't touch it either day.
September closed at $11,917.97. Back under $12k, $596.27 off the high.
Adding nanos
On the last day of the month I bought two E-nano Nasdaq contracts. 4:13 PM on the 30th, 2 /NNQZ6 at 30,710.00.
A nano is $0.20 a point, a tenth of an /MNQ. So the two together are a fifth of the contract I already hold. CME only started listing them on August 24.
I was excited when nanos became available. I know the drawback is high fees.
But if I'm going to use them as an ultra-leveraged buy-and-hold, scaling up and down the way I already do with my one /MNQ, I think it does give me a lot more flexibility. Especially with me stuck with a tiny account.
A nano costs me $1.41 a side, the same as an /MNQ, for a tenth of the move.
I put a take-profit on one of them to cut my exposure. It filled on October 2nd at 4:07 AM, at 31,000.00. Plus $55.18 after fees.
Glad it hit, and I'm still carrying one nano to capture more upside if it keeps going up.
The month in numbers
September | Account |
|---|---|
August 31 close | $9,753.94 |
Lowest close, September 15 | $8,504.41 |
Highest close, September 22 | $12,514.24 |
September 30 close | $11,917.97 |
September | +$2,164.03, +22.2% |
Year to date | +$1,542.17, +14.9% |
The /MNQ made $1,783.00 of that. Minus $755.50 on the September contract, plus $2,538.50 on December.
The other $381.03 is everything else in the account, after interest and fees.
What's still open
As of October 2nd I'm long one /MNQZ6 from 29,429.50 and one /NNQZ6 from 30,710.00, plus my TQQQ, QQQ and VTI.
The $50 TQQQ autobuy kept going in the background, four times in September.
I'm satisfied, and hopeful I can end the year green. Probably gonna be the first time in a long time.
EOD September: +$2,164.03 | YTD +$1,542.17, +14.9%
Catch you next month.
I trade futures and options at tastytrade with my own money. The link uses my referral code, so I may get a referral bonus if you open an account through it. It's also just where these fills come from.
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Growing Tendies does not accept any liability for any loss or damage which is incurred from any loss of money on a trade. All trades are done using the tastytrade platform.
