I don’t think it’s a surprise that I did not like the move I made with the M3 on Monday.
Considering that this is a demonstration trade for the M3 and that I am specifically doing the trade as an exercise to control risk, I concluded that yesterday’s move is something I definitely should not have done because it created excessive downside risk on the position which is not within the concept of the trade. So, even though I fully believe I could have expired the trade at well over 1/2 profit target, I also believe that this would be setting a poor example on risk control. Therefor, I did what I considered the responsible thing and closed the position down today at slightly over break even (+$73 after commissions)
I will be looking to enter September tomorrow even though I do not like the current market conditions.
The September Bearish Butterfly is unchanged doing great!
That is all for now, I will keep you posted on any changes.
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