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Uncle Bobs Money

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Conservative Portfolio: Another Profitable Month! 
The September position closed early for a 3.2% Profit --- only ONE trading day.
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Uncle Bobs Money

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=> Sept11 SPX Weekly Condor closed early, 4.0% Profit. 
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Market Comments

Patience. Patience. Patience. (Did I mention that I think patience is a good idea?) 

We closed 8 positions last week profitably by following our trade rules. 

The SPX is down around 10% since last week. 
We have ZERO LOSSES, and all profitable trades. 

The volatility is up, which is normally great for selling premium - but the market is too volatile to safely place new positions. Monday the market opened down 4.5%, then up over 3% in a few hours, and then crashing back down again at the end of the day. Tuesday it opened up over 3%, and crashed at the end of the day. Those are really LARGE price movements - too large. 

We plan on waiting PATIENTLY for the market to calm down before evaluating possible trades. 

Conservative & Advanced Trader Portfolios: 
Even if we have to wait until next week, we can select WEEKLY expirations to get September positions. We won't risk entering a trade that has too much risk. A zero profit is always preferred over a loss. 
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Uncle Bobs Money

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Conservative Portfolio | Another profitable Month! The August position expired Friday morning: 2.5% Profit. 
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Uncle Bobs Money

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=> Sept11 SPX "Easy Rules" Condor closed early, 5.0% Profit. 
=> August28 SPX Weekly Condor closed early, 4.0% Profit. 
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Uncle Bobs Money

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=> Sept04 SPX "Easy Rules" Condor closed early, 6.0% Profit. 
=> Sept03 RUT "Easy Rules" Condor closed early, 6.0% Profit. 
=> August27 RUT "Easy Rules" Condor closed early, 7.0% Profit. 
=> August14 SPX Weekly Condor closed early, 4.0% Profit. 
=> August28 GOOG "Easy Rules" Condor closed early, 5.0% Profit. 
=> August07 SPX Weekly Condor was adjusted & closed early for Break-even, 0% Profit. 
=> August28 SPX "Easy Rules" Condor closed early, 6.0% Profit. 
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Uncle Bobs Money

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=> July30 RUT Weekly Butterfly, closed early: 59.3% Profit. 
=> Aug13 RUT "Easy Rules" Condor closed early, 7.5% Profit. 
=> Aug06 RUT "Easy Rules" Condor closed early, 4.5% Profit. 
=> July RUT Monthly Condor was adjusted and expired, 3.9% Profit. 
=> July16 RUT "Easy Rules" Condor adjusted & expired, 0.55% Profit.
http://UncleBobsMoney.com 
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Uncle Bobs Money

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Trading Comments:
Wooo. Last week was a wild trading week. Crashes, soaring recoveries, and volatility going through the roof.

We profitably close 8 trades the week before, and we survived the week with ZERO LOSSES.

We safely, and correctly stayed on the sidelines avoiding the tempest.

Here's the secret:
Trading is about making PROFIT, not about making trades.

It's hard to remember that rule when the volatility spikes, and the options prices look so tempting. Really tempting. I remember looking at possible 'HIGH RISK' trades based on the extreme IV values and I would just start salivating at the amount of premium that was available for the taking. But it's not real. Those amazing MID prices are only an illusion. When the market 'adjusts' like it did last week, the bid/ask spreads get REALLY WIDE. When the pricing gets WIDE, it's really hard to get filled unless you are willing to pay Full price. And if the market is crashing - you sometimes won't get filled even at the full price if you place a LIMIT order. That's just the reality of a crashing market.

The other problem, is that a 'crashing' market has extreme price movements - up and down. Large moves are almost ALWAYS followed by a bounce in the other direction. Last week had example after example of those types of massive price movements. What looks like a 'safe' trade can completely "In The Money" and close to a total loss a day or two later.

Bottom Line: Don't trade in a crashing market. Because, it's about profits, not about about making trades. 
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Uncle Bobs Money

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7 Advanced Trader Positions closed profitably last week:
1) Sept18 | GOOG "Easy Rules" Condor: 5.2% Profit (closed early)
2) Sept18 | AMZN "Easy Rules" Condor: 5.0% Profit (closed early)
3) Aug | RUT Monthly Condor: 8.2% Profit (expired)
4) Aug | SPX Monthly Condor: 5.2% Profit (adjusted & expired)
5) Sept24 | RUT "Easy Rules" Condor: 6.0% Profit (closed early)
6) Sept11 | SPX "Easy Rules" Condor: 5.0% Profit (closed early)
7) Aug28 | SPX Weekly Condor: 4.0% Profit (closed early) 
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Uncle Bobs Money

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Sept24 RUT "Easy Rules" Condor closed early, 6.0% Profit.
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Uncle Bobs Money

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August20 SPX Weekly Condor closed early, after ONE day for a 5.0% Profit!
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Uncle Bobs Money

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=> Aug20 RUT "Easy Rules" Condor closed early, 5.7% Profit. 
=> August20 NDX Monthly Condor closed early, 8.0% Profit. 
=> July31 SPX Weekly Condor closed early, 4.0% Profit. 
=> July24 SPX Weekly Condor closed early, 5.0% Profit. 
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Have them in circles
114 people
neha goyal's profile photo
Minh Nguyen's profile photo
Quyen L On's profile photo
Muhammaf Irfan Umar Sheikh's profile photo
jose manuel casal's profile photo
Rob Clark (TEKNODROME UGLYBEATS)'s profile photo
Vanessa Mavrolas-Leahy's profile photo
Anugita Abels's profile photo
Wesley Yu's profile photo
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