Legacy Wealth - HoM, EoG

Journals - Custom Subliminals
#21

I learned some lessons over the last couple of weeks. While I haven’t lost in any positions. I put on too many trades, which used up most of my buying power. Placing too many trades limits me from other opportunities. Once my current trades clear up, I’ll be more patient, especially since I’m familiar with credit spreads now. I also like credit spreads the most. They are easier to manage, and I like that I can place a stop loss. With condors you cannot place a stop loss because depending on market conditions, your position can get stopped out because of a rise in implied volatility. I also noticed that I could make more from my trades if I do a wider leg, like say a $20 distance between spreads. Doing that on far out of the money puts on SPX would still yield around $400-500 per position with a probability of profit at 75%. The buying power requirement on that isn’t bad, it’s like $1400-1600 depending on the price of the options. To me this as a better return. For example, the condor I placed last week required $800 in buying power and my premium credit was $120.

I feel like the custom is really shining through. Especially Virtue Series Temperance. I’m not worried about racing to high profits. I’m more focused on following my plan, but also improving the plan as I go along. I am able to see what I did wrong and come up with a better plan to avoid that in the future and increase my profits over time.

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#22

The occult books came in and they are beautiful.

Here is a picture of all three:

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I spent most of the day doing school work. I finished two web design classes this week. I have 10 classes left to finish my degree. Now I’m working through a Data Structures and Algorithms class and a C# one. The C# one is exciting. The project involves making an inventory management system with a full GUI.

I started reading Trading Option Greeks by Dan Passarelli. My goal is to read it over the next week and see how I can implement it into my trading.

I hope you all have an excellent weekend.

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#23

they truly are beautiful

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#24

Today the market was volatile. I saw my P/L going all over the place like a roller coaster. Seeing the numbers go all over like that made me nervous. But then I though, I have a stop loss, they haven’t been hit, nor are they even close to being hit. I went back to the line from Best Loser Wins, “Focus on the process. Focus on what you can control.” I kept repeating that line every time I got nervous. After a while the anxiety stopped, and I just went about my day. I cannot control the outcome. Did I do everything correctly? Yes. Is there anything else I can do? No.

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#25

I hit my profit targets on two trades today, and also took profit on Home Depot. This gave me a net credit of $253, making my total credit earned since getting the custom at $356. This custom has already paid for itself. :wink:

I noticed that it took significantly longer to reach the 75% profit target compared to the 50% profit target. Therefore, to lessen the amount of time I am at risk on the market, I have decided to shoot for 50% profit target from now on. To make up for the lower profit, I increased the position size of the spread to 2 contracts.

I made a trade on SPX at market close today. Here are the details: I did a 45-day credit spread with a $10 wide leg (sold $5050 Put x2, bought $5040 Put x2). Gross premium was $360. I set my target at $180 and stop loss at breakeven.

My debit spread trade on AAPL is doing nothing at the moment. I’m currently down. If I get to a 50% loss of what I paid, I’ll sell it and move on.

Edit to add more:
I had an interesting synchronicity happen to me today. The other night I went on the Netflix website and was thinking about getting a subscription so the kids would have more to watch and because my wife had mentioned it recently. I check out the different subscription models and thought, I’ll worry about this another day. Today I get a T-Mobile Tuesday notification and check out the stuff on the app. While scrolling down I see an advertisement for different streaming services. Turns out I can get Netflix for free through T-Mobile. I signed up for the one with advertisements and don’t have to pay anything.

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#26

@JayFlex

It is not wrong to take profit!

Are you in crypto as well or no? Just stocks?

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#27

I used to mess around with crypto, not anymore.

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#28

Wednesday night I watched a course on how to construct Iron Condors on 0-DTE contracts. This was due to a successful trade I made that day but wanted to learn more structure in regards to Iron Condors, especially 0-DTE ones. The course was great and covered how to execute the strategy, stop loss, and take profit. I adapted it to the strategy I use in the 45 to 30 DTE Iron Condors I have done. Here are the trades I did this week.

Wednesday: Sold 2 Iron Condors on SPX for a total credit of $120. All contracts expired worthless.
Thursday: Sold 2 Iron Condors on SPX earlier in the day for a total credit of $240, I followed the strategy from the course and set the profit target for 50% and stop loss at gross credit received. I made the trade at 9 pacific time and by 11 I took profit gaining $120. I’m glad I followed the strategy because if I hadn’t set the take profit, I would have ended up getting stopped out later in the day.

After these two trades, my total premium gained is at $596.

I didn’t trade this morning. Last night I slept terrible because it feels like I am getting cold. I sat today out because I did not have the mental clarity to manage a 0-DTE. I did check my positions out.

Here is what I am still in:
SPX - Credit Spread 42 Days Remaining
SPX - Iron Condor 33 Days Remaining
IWM - Credit Spread 35 Days Remaining
AAPL - Debit Spread 21 Days Remaining - Still not in profit, but still has not hit my stop amount.

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#29

I had one winner and took the loss on the AAPL position today.

SPX 0-DTE: Took a 40-dollar wide Iron Condor at market open, $180 gross premium, took profit at $90.
AAPL: The gap up this morning lead to an even greater loss than what I was at on Friday. Closed the position for a $87 loss.

Total gain is now: $599

I learned a valuable lesson with the AAPL position. I went way too out of the money and did not follow really any strategy. The loss is my fault, and I will not make that same mistake again.

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#30

This week I lost a dear friend who was also my former supervisor. He was an exceptional leader and the best I’ve ever met in my 16 years in the fire service. When I first met him, I was feeling down about my job and had lost my passion for it. But he taught me how to enjoy it again, and for that, I’m forever grateful. I’m deeply saddened by his passing and will miss him greatly.

On the trading front, I’m happy to report that two of my positions hit their profit targets. I sold my IWM credit spread for $38 and my SPX credit spread for $180, bringing my total gain to $817.

I currently have three positions open. Two of them are Iron Condors on SPX. I made the second one a bit too tight, with a top of $5300, so I’m considering hedging against potential loss by selling some put credit spreads. The total credit for this one is $860 with a take profit at $430.

The third position is a credit spread on RUT with a total premium of $768. My take profit for this one is $384.

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#31

Condolences.

Peace and respect to this outstanding human being.

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#32

I’ve been going through a washout since last Friday. I have been listening to full loops for 15 minutes every Monday, Wednesday, and Friday. I have no recon to report. I will start my second round next Monday, April 1st.

I think the biggest benefit from this custom is how I think in probabilities. When I trade, I am disconnected from the outcome. I focus on the probability. I also have increased my position sizing as I succeeded over the last month. I found that position sizing is my way to increase cash flow without changing the strategy. For example, the credit spread I put on RUT was 4 contracts, which is why the premium is so large.

I also wonder if the fact that I am having no recon is because I’ve been doing the Wealth Magick book for the last few months. The daily practice in that has made me feel wealthy and abundant all the time recently. I am on the final working of Wealth Magick. The final working involves summoning the demon Claunech and telling it all the things you will do with your wealth. I started this week. I took a few days off magick when my friend died but am back into it. I started Success Magick this week. I like the book; it reminds me of Mystical Words of Power, but it uses Enochian tablets.

Since my last post, I added a new position. I set up a credit spread on Amazon. My total premium is $294 with a take profit at $147. I have been trading exclusively in my Roth IRA account. However, I have now set up a margin account and plan to execute the same trades in both accounts. I am glad that I started with the Roth IRA because I cannot access the funds, which helped me stay emotionally detached. Now, I can take the same mindset with the margin account and set targets to pay off my debts. My first goal is to pay off my car.

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#33

I started my morning by listening to a loop of Legacy Wealth ST1 and APX. I noticed some recon, which I attribute to adding APX to my stack. Fortunately, the recon subsided by noon.

Recently, the passing of my friend has brought me back to OBE stuff, and I picked up the book Explorations in Consciousness by Frederick Aardema. The method presented in the book is similar to the phase method by Michael Raduga. It involves doing some kind of motion sensation like rocking and repeating an affirmation upon waking up, then continuing to do that until your body falls back to sleep. I tried to have an OBE last week, and although I got close, I couldn’t keep my consciousness awake. I attempted it about four times during my sleep cycles, but I ended up going back to sleep after a couple of minutes each time. I plan to keep practicing, and I hope that using APX will help me achieve better focus.

The other day, while out shopping with my wife, I had an intense spiritual experience. My perception expanded, and I was purely in the moment, taking everything in unfiltered. It’s hard to convey what happened, but I think it may be a side effect of doing Success Magick by Damon Brand. The first ritual, called The Ritual of Perception, involves opening your perception so that you can see the beauty in everything. Apparently, it worked a little too well. At the moment, it was so overwhelming that my wife kept asking me what was wrong, and I didn’t know how to articulate what was happening. Fortunately, I’ve been working through Magickal Destiny to work with my Holy Guardian Angel. I asked it to bring my perception back to normal, and within a couple of minutes, it settled down. I know a lot of guys on here are deeply spiritual. Has this kind of experience ever happened to any of you?

Regarding my stock positions, they are the same as last week. Today, I closely monitored them and noticed that Iron Condors are significantly impacted by price swings. It’s interesting how one day I can be making a huge profit, and the next day my P/L is deep in the red. Initially, it used to shock me, but now I understand that as long as the price stays between both strikes, there’s nothing to worry about. I’ve decided to let them ride and not make any changes.

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#34

The market was wild today. The large gap down sent my credit spreads deep in the red. My iron condors did fine though. The iron condor I set up about a month ago for $140 in premium hit it’s take-profit netting me a $70 profit.

I noticed a spike on the VIX, so I looked for potential trades since premiums were higher. I looked at support and resistance levels on SPY and set up a credit spread. Gross premium was $208 with a take profit set at $104.

I also forgot to mention that I set up a credit spread last week on SPX, gross premium was $125 with a take profit set at $60.

I have 5 positions open now; each position has a take profit set at 50%:

  1. SPX - Iron Condor - Expiration 5/3/2024 - Premium $860
  2. RUT - Credit Spread - Expiration 4/19/2024 - Premium $768
  3. AMZN - Credit Spread - Expiration 4/19/2024 - Premium $294
  4. SPX - Credit Spread - Expiration 4/26/2024 - Premium $125
  5. SPY - Credit Spread - Expiration 5/17/2024 - Premium - $208

The only position that is looking like a scratch is the RUT credit spread, the gap down put the entire spread in the money. I’m looking at potentially rolling it out for time or taking the loss.

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#35

My positions haven’t changed since last post. RUT recovered enough to go back out of the money, so I’ll just leave my take profit in place for now. Even if it doesn’t reach it, I’ll let it expire worthless as long as it is above the strikes.

The Amazon credit spread is close to hitting its profit target, same with the SPY spread I put on yesterday. The elevated premium helped a lot with that. I was in profit by around $40 as soon as the market opened.

I funded the margin account I opened so I’ll start making trades in that. I want to see how much I can grow it. I put $500 in it to start off small and go from there. Even with $500 I can still do credit spreads with no problem.

I listened to Legacy Wealth ST1 and APX this morning when I woke up. No recon today, but we were also incredibly busy. We did a training exercise this morning that went on for a while. I was so busy I didn’t have time for recon.

I am using the GI Bill to go to school. I noticed that I hadn’t received any notification of enrollment. I called the VA to figure out what the issue was. I could tell the lady on the phone was having a rough day. I could hear it in her voice. I softened my tone and was incredibly friendly with her, kept calling her by her name, thanking her for her hard work. By the end of the call, I could sense that she was smiling while talking with me on the phone. I’m glad I took the approach I did. She told me that they not only extended my GI Bill an additional 3 months to cover the entire 6-month semester, and I also had my BAH (monthly housing allowance) and book stipend within less than 5 hours after the call. Which came out close to $1900.

Another manifestation happened yesterday not in regard to money but something that worked out surprising well in my favor. On Monday we were doing busy work all day. The work was laborious, messy, and took a ton of time. There were plans to do it on Tuesday as well. Before bed on Monday night I thought, “I wish there was a way for me to get out of that tomorrow.” I get up at about 530 on Tuesday morning. I’m walking around the station, and one of the captains comes up to me and goes, “hey man, they really need someone in dispatch. Would you mind covering dispatch from 6 to 12? You won’t have to do the foam transfer stuff and can hang out and relax.” I was like, “No problem, I don’t mind, I’ll head over there now.” I went straight to the dispatch center and had a great time, I read an options book and studied for a data structures and algorithms class I’m in.

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#36

— Custom Results and Update —
The market drop yesterday didn’t affect my options as much as I expected. Everything was back to normal today anyways. I did see one of my credit spreads get within $10 of its stop loss, but it didn’t hit. I did everything I could do and have stuck with the plan. I did roll out my RUT credit spread. The rollout gave me an additional credit. It added $40 to the total premium. Today I rolled it down within the same expiration period. The roll down did result in a debit of $80. Which reduces the total premium to $728. I’m okay with the slight premium loss because I have 40+ days remaining, and I am out of the money now.

I was right about my Amazon credit spread being close to hitting its target. It hit yesterday morning within 5 minutes of the market open, netting me $162. Which puts my total gain at $1049. I have to say that I can already feel a shift in my mindset after the first washout. When managing these positions and shifting stuff around this week there was no stress or nervousness. My level of detachment was unreal. I know that with any position I can win or lose, but I’ll do what I can to keep the odds in my favor.

I made my first trade in my margin account. It was a five-dollar wide credit spread on SPY. I could only do one contract since I did not have as much buying power. My gross premium was $82. I set my target at 50% and a stop loss at the premium received.

— APX Results —
Last night I had an OBE. I could tell I was close based on how things went the other night. I woke up and went to the restroom at around 4am. I went back to bed and kept repeating, “I am more than my physical senses.” While doing that I imagined a white energy ball bouncing from my head to my feet. I kept increasing the speed. I feel asleep and could feel the energy sensations building. I awoke in a random house. I noticed things were fuzzy. I rubbed my hands together to increase the clarity of my vision. It helped immediately. I saw a window and jumped through it. I was in the backyard of the house in a neighborhood I didn’t recognize. I started to run and was high jumping over people’s fences. It was day light out. After a few jumps I felt like flying, so I did. I flew up and looked at the suburbs I was flying over. I couldn’t tell you where it was. Looked like a typical American suburb. I kept flying higher and higher and eventually got tired and thought, well that was fun, I can go back to sleep now. Instantly I was conscious in my bed and made a mental note of everything so I could remember it later.

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#37

Awesome.

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#38

This morning I listened to full loop of Legacy Wealth ST1 and APX. No recon to report. I had a good day. I checked my positions. Not much happened today. The iron condor on SPX is finally losing value. I also placed a trade on QQQ this morning. I noticed it hasn’t been doing much and has been very sideways lately. I did a credit spread. I set up on the strikes at a support area. I also increased my position sizing. I had been doing 2, now I am up to 3 contracts per trade.

Here are my current positions for the Roth IRA:

  1. SPX - Iron Condor - Expiration 5/3/2024 - Premium $860
  2. RUT - Credit Spread - Expiration 5/17/2024 - Premium $728
  3. SPX - Credit Spread - Expiration 4/26/2024 - Premium $125
  4. SPY - Credit Spread - Expiration 5/17/2024 - Premium $208
  5. QQQ - Credit Spread - Expiration 5/24/2024 - Premium $414

Total Net Premium: $1049

Margin Account:

  1. SPY - Credit Spread - Expiration 5/17/2024 - Premium $82

Total Net Premium: $0 - (no trades closed yet)

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#39

Last night I had some APX results. I awoke to intense vibrations all over my body. It shocked me because it happened so abruptly. I had a fearful response and didn’t do anything, I just laid there till the vibrations went away and went back to sleep. I feel like a lost an opportunity to explore. Next time this happens I’ll take advantage and imagine myself somewhere. It makes me realize that my biggest barrier has been my own fear. The times I have had OBE’s it was all because my consciousness passed the vibrational stage and I was somewhere else. Like in the experience the other night. I need to get over the fear and intensity of the vibrational state and use that to my advantage.

I have been modifying the Middle Pillar. I incorporated energy work into it. Now, when I get to an energy center, I’ll form it in my mind, do some breathing to feel that center, then I image moving it in and out of my body. I do this about 50 times, then I chant the name of God associated with that center. So far, the response has been great. After I finish, I feel incredible and it may be the reason I’m responding so well to APX, I’m spiritually ready for it. Instead of forcing it to happen, I have grown spiritually to the point where it can happen naturally. That is a good feeling.

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#40

The bad news about inflation and interest rates staying high appears to be changing the current trend of the market. I got stopped out in my margin account this morning on my SPY credit spread. That resulted in an $80 loss. The other credit spreads I had in my Roth IRA were at similar strikes. To cap any other potential loss, I closed those positions at a loss and opened up call credit spreads to ride the new trend.

In the margin account I set up an SPY call spread. The elevated premium gave me a gross premium of $160.

In the Roth IRA things are bit more complicated. My iron condor on SPX sold for a 25% profit, netting me $210. But the losses took down my total gain significantly. I took a loss on SPX for $170, SPY for $112, and SPY for $168. Which after the iron condor gain and all the losses takes the total net profit amount down to $809.

The call credit spreads I placed where at the peak of SPX and SPY. For the SPY call spread my gross premium received was $628. The SPX credit spread was for $205. As usual I set stop losses at 100% of premium received and a 50% take profit order.

I thought the losses would bother me, but they don’t seem to have that effect. I go into each trade knowing that I while the probabilities are highly in my favor I could still win or lose on the trade. It’s just part of the game. I can’t win every time, and as of right now I’m happy I’m still up $800 in the Roth IRA.

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