Now THAT was a market open.
The New York Stock Exchange blasted off into action the way I love. Of all the days I didn’t get up earlier to watch CNBC I had to sleep in on this one. I don’t know what the news is, maybe it’s the James Comey thing but to wake up and see the Dow Futures down -170, I knew something had to be up. But I didn’t know that the action would be like this. This the type of cash opens dreams are made of.
You can tell by my tone things ended up favorably for me – and they did. I needed this and I’m glad. I took size on YM futures over the ES because I felt like whatever was moving the Dow would move it for more ticks than the S&P would move thus ensuring me more money. I had taken another trade on Wheat this morning again and I got a respectable amount of ticks on that. All in all, I traded in a risk averse way; tailored my exposure to what I saw in the market, held on to my cowboy hat and yee-hawed all over the DOM to a lush green PnL number. I don’t know what tomorrow’s market will bring but I really want to savor today. It’s been a long time since I’ve had an easy market day like the one I’ve had. Lately, it seemed as if I was dragging elephants in the mud just to get +15 ticks here and there.
All the risk management that I’ve employed in the past month has become worth it. Because I wasn’t swinging the big bat until now, I saved up enough cash and emotional capital to have the courage to do what I needed to do today. I don’t think I’m going to take anymore trades because the market has given me all that it’s going to give me. Instead, what I’m going to do is act thankful as hell for the strike of luck that I got. This is all the man upstairs; you can do all the prepping and intellectual vuvuzela-ing that you want but at the end of the day, the market is going to take its direction regardless and you’ve got to hope that God is on your side. Other traders can afford to rely on their intellect but not me, I suck at trading.
It’s a beautiful day on the east coast…beautiful enough that I need to be thankful. Time to pay my good luck forward.