The New York Stock Exchange opened up a little slow this morning but things got volatile pretty quick. The problem was that the volatility in the opening moments wasn’t enough for any meaningful moves. I had already traded prior to the cash open so I wasn’t about to go pushing the PnL unnecessarily.
I wanted to see if there was going to be some type of fallout from the ACA-repeal decision but I didn’t want to be in the YM. I figured that stuff would be better reflected in the Treasuries so I put out an order really early in the morning. I didn’t expect my order to get hit but it did and for all the expectations that I had, I didn’t really make all that much money on it considering the move I felt would happen. At the end of the day, I just decided to leave with whatever money I had (it wasn’t all that much) and move on to the cash open. Like I said before, the cash open wasn’t as volatile as I wanted but there were some windows of opportunity. All in all, I pretty much broke even there and didn’t really have much to show for it.
I’m actually typing this post out much earlier than I usually do but will post around the same time as I’ve got a couple of things to do during the day. I am grateful that I broke even today and that I didn’t lose money. Even though there are days when I figure that I can accept the sting off losing money, there’s never a time that it’s ok to feel like that. I know that there’s books that say a stop loss order is a win but to me it’s just not. I don’t know how to articulate it but it’s just not. I hate to lose money and if there’s just no way that I can win and that I have to accept losing money I only want to lose as little as I possibly can and not have the loss impact my capital reserves. It sounds pretty common sense, right? Well, I can’t say anything because it took me an uncomfortably long time to understand that as a beginning trader many moons ago.
Ok, I’m starting to babble now. I gotta haul ass and start living this day gratefully and conscientiously.