The New York Stock Exchange opened up with a little bit of a flash and after some zig zagging here and there, I imagine that things have calmed down. Overall, the market just felt cold and lifeless – there were no trades to be had outside of the opening bell. I just utilized whatever window of trading I had and went with it.
I thought that the market was going to open upwards a little bit but got queasy with the movement going towards 9:30 so I dialed down what I would have played with size and decided to go to my default. I also did this because I felt that the market would weaken a little bit and it did. I’m glad that I didn’t commit to the long side at the bell because that would have hurt me a little bit. All in all, I took like 2 trades to the short side and after seeing how blobbish the market became, decided to call it a day. I had an overnight trade on the British Pound that worked out for a little bit of money – it was nothing special, I just traded it and held hoping that there would be some type of move but I was taken out of the trade while I slept by stop program. I would have liked to make more money but then again, so does everyone else in the capital markets.
So, today wasn’t much but I’ll take it over a losing day. Like George Soros says: “any day where you’re not belly-up is a good day in this business”. Hehe, he’s such an old coot. On a side note, have any of you ever tried to read Alchemy Of Finance? It’s like mentally doing balance beam gymnastics over crocodile infested water. I might try to read it while getting absolutely trashed this July 4th – maybe the alcohol will help me understand it.
I’m not happy with today’s results. I’d like to make some good money ahead of the holiday and being that this is the last week of June, I’d like to end strongly. But as we all know, you don’t get to choose a large degree of your results in the market but it’s not the other way around either. The only thing that we’ve got to do is be thankful if we’ve got another day. Even though it’s kind of cloudy and cold here in the East Coast, I am appreciative of each waking hour I will have after trading this morning. I can still attempt to make money tomorrow so there’s always a chance. I just have to make sure I’m being careful with my capital – and being careful and caring with everything important in my life. That’s truly the best way to be appreciative of it.