The New York Stock Exchange barely opened up with any energy this morning. It’s like the market is taking cues from the overall weather on the East coast and because the traders here don’t seem to want to do anything, then everybody worldwide including Chicago doesn’t want any part of this cash open. I don’t know if that’s the case, I’m just typing this out as quickly as possible. This cash open will be the last of my attempted trades because I didn’t find any other market setups outside of a play in the British Pound last night.
Today’s trading was quick and I took whatever scalps I could possibly take. There was good action premarket and I had gotten short for a couple of ticks. Of course, because I wasn’t playing on size it didn’t matter much but there was a good chunk to be had with the YM and NQ futures. I was just hoping that the market would follow through on the opening bell but I didn’t feel comfortable letting the market run so I just kind of scalped my way out of the opening bell. The British Pound trade didn’t really work out but at least I caught a couple of ticks in my favor so there’s no complaining here. Even at one contract’s tick, the British Pound can hurt you if you’re risk parameters are retarded.
I’m really glad that I made a commitment towards good risk management today. That’s really the key to preserving the account. Sure, there’s the capacity to get positive ticks but because that’s just one half of the equation, I also have to think about risk and not have a lazy attitude towards it. I’m a fortunate person that I’m in the green today. I’m thankful to the man upstairs that I have the opportunity to trade. I really am not intelligent. I’m really fortunate.
Time to enjoy this rainy Wednesday – lots to be thankful about.