The New York Stock Exchange started off pretty slowly. I thought that we would get a little more action with the market announcements but even those moves were a little more subdued than I expected. I was anticipating that the market wasn’t going to follow through on its moves and I was proven correct, at least in the short term. The overall market would go on to make waves here and there before settling in and trading in its rhythm.
I am lucky that I was able to make the trades that I was able to make. I didn’t do much overall in terms of the PnL, but it was enough to make this day a decent one. I made my decisions quickly and I got out of bad trades to size up on good ones. The result was that even though I had two more trades that were losers than winners, my bigger winners more than made up for the losers.
One interesting note about this day was that when it began (at 11 last night), I meant to take a long on the British Pound, which I “did”. But when I went to check on the position this morning, I was shocked to discover that I had taken a long on Dow futures instead – and that it ended up being profitable. Looking over at the British Pound, had I taken that long, I would have taken a relatively big loss. That sums up trading for me. I’ve been in this game long enough where I appreciate Luck more than my “intellect”. I know that there are people out there that are smarter than me that can do it on intellect, but I probably will never approach their level of trading. Rather, I’ll just take my being lucky and be humble about it. I don’t even pretend to know anything about the market and when I’m tuning into CNBC, I’m just pretending that I’m this know-it-all economist sipping on aged wine but I don’t know jackshit and I’m just sipping on Diet Sierra Mist.
I’m lucky and that’s ok with me. I’m not “the man”, I serve and am loyal to “the man”, The Creator….and I thank him for the bounty of today.