The New York Stock Exchange was really quiet this morning. I guess it’s a reflection of the FOMC meeting so I didn’t size up. I thought that I could get something from the get-go but I was mistaken. Today is pretty much one of those days where it isn’t particularly wise to take any risk.
The morning started off with a trade in Wheat that didn’t work out. I’m just glad that I got out of things just as my market was about to collapse. There just didn’t seem to be much promise in holding the trade so I got out of things much earlier than I anticipated. I would have liked to hold but I just wasn’t comfortable anymore. Then I prepared myself for cash open and like I said to begin, there wasn’t much going on with the Dow futures. I thought that I had picked the right side and I was prepared to do what I needed to do. However, when I got into my trades, the market would do everything opposite. I’m sure you’ve all experienced that feeling. I was a little disheartened, especially given the fact that I really need to get this month started on the right foot.
I’d like to continue trading but at this point, I’ve reached a negative number on the PnL where I’m just not comfortable incurring anymore cost risk. There just comes a point in time when it’s not worth it and today, that point in time arrived a heck of a lot quicker than I thought. So the best thing to do is to chill out and prep myself for the next day. I’m glad that I made good decisions when it came to trading and that I cut my losses when they were small and that I didn’t allow them to get to the point where things would be embarrassing. I’m also glad that I didn’t size up today. It was all small losses and a death-by-a-thousand cuts. Still, I had to ask myself what the f-ck was up with my trading today.
I’ve got to a life to live today that I’m very thankful for. It’s time to get ready for tomorrow.