I didn't close any trades this week, but I entered one new trade. Details of this week's trading below:
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I currently have 8 open trades, with expirations in Aug (1), Sep (3), and Oct (4):
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Total defined risk for these trades 44.6% of the account net liquidation value.
31 trades have been closed this year...16 wins and 15 losses. Return on the account for the year is at 2.6%. Total win rate is at 52%. The win rate on the core trades is at 59%. Not happy with the win rates, but at least the losses have been small. Of the 8 open trades, 7 currently have a positive P&L (all but the trade entered this week).
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4 comments:
Is there a link to the article explaining this butterfly strategy? I would expect a low win rate with these things. Greater than 50% seems amazing to me. I'm definitely interested in learning what you have to say about it. Thanks!
Hi Jeff,
I haven't published any articles on this butterfly trade, but it is very similar to the Dan Harvey Road Trip Trade (RTT), that has been popularized by the Capital Discussions site.
The win rate for this trade should be up near 75% to 80% or higher, but I have not managed these trades as planned...mostly due to lack of access to my trading platform to make adjustments (on planes, on vacation, family activities, etc).
Thanks,
Dave
Thanks for the response! So you are managing these at 10% profit? I can definitely see how that pushes the win rate up to 80%.
Yes, managing those butters at approximately 10%.
Take care,
Dave
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