The New York Stock Exchange traded slowly today out of the gate but it started to pick up a little steam I suppose once someone announced their earnings. I forget which company it was but I know that it’s a big index component so I figure that some people already had the heads up and started their orders. Whatever the case, I was able to take some ticks out of the market but it wasn’t enough of a move where I felt like I could size up so I just decided to leave it at my default size. It feels like we might get a little bump in volume later in the day but I’m not going to be trading at that point. I’d rather just get my trading done in the morning.
I had a couple of big trades today for size but unfortunately, they didn’t really work out for the best. I had put on an early morning trade in Wheat and then attempted a midmorning trade on Cocoa. I also did a British Pound trade last night. All three didn’t work out and thus it carved into what I had made in the cash open. All in all, I am negative on the day but at least not obliteratedly (is that a word) negative. It’s just a day that I’d like to move on from. I’m thinking that I’d like to push another trade but like I said last post (maybe), there comes a point where risking more in terms of PnL value might just impact the way you think about trades and thus could negatively impact you some more. I trust my ability to trade implicitly, but I don’t trust the craziness that is known as the capital markets and I know that even a methodology rooted in rational thought more often than not produces losses. I’m just glad that I traded properly and according to my risk parameters. I know that today was a losing day and that yesterday was a losing day as well. It’s not fun to start off the week like this and I always like to win at whatever I do but the best thing I can do on these days is to not push negative trading days. But yeah, I traded well process-wise and didn’t allow myself to get caught up in a negative cycle.
I think I’ll probably hold off on making anymore big trades for tomorrow. I’ll probably trade the cash open on size but that’s about it. I’m not going to be looking for any other assets to trade simply because the market just doesn’t seem to be in a decent mood overall and no matter how many other things I try to trade, it never seems that things are panning out. Again, I’m not one to push so I know when things are going badly. It’s just best to sit things out.
It’s a nice day today. I need to get some grocery shopping done. I’m thankful that I’ll have a backdrop of blue skies and clouds to drive through as I go through my day. I’m thankful for my life and the chances that I get.
I’m lucky; it’s a double edged sword because I’m not sure if I’m intelligent enough to get through life without the amount of luck that I have.