profile2The New York Stock Exchange opened up with a little bit of direction albeit a lukewarm energy one. I think that this news about North Korea and the conflicting semi-decent good news of Tesla issuing junk bonds to scale up Model 3 production is keeping the market in a rather tight range. I don’t know what we’ll see in August but it just seems like the markets will have a period of consolidation before finally squeezing out all of the shorts and leaving the benchwarmers behind for the rest of the year. Of course, I could be wrong but I don’t give a rat’s d*ck because I don’t play the prediction game with hard earned capital.

The market opened up slowly. I wasn’t really able to get all that much out of the cash open. In the end, I pretty much broke even for the period as the last couple of trades I made there managed to give me some green PnL numbers. A day like today is where I am thankful for the slow lumbering of the ES contracts. I like to trade fast and volatile things but sometimes, something slow with a bigger tick increment be helpful, or even better. I traded Wheat this morning and got semi-decent numbers out of it and was looking to trade Feeder Cattle but I just didn’t know where I could set the mothership down. So all in all, I am positive on the day. Not a whole lot of positive but just positive enough where the capital I put to work was productive.

This August is starting off kinda strange. Hopefully, things will be peaceful and we can all go about with our business instead of wondering what will happen geo-politically. Even though I didn’t make much money today, I’m just glad that I made something and that I can go into the rest of the day with a little bit of piece of mind. It really helps to have the PnL in the green, it really does. I was never the type to be a masochist and accept red PnL numbers through the prism of a hollow victory, when I put my money to work, I expect something to come out of it. However, I know that things have to roll the right way so for that I’m so thankful. I’m just limit/market order in the millions that are out there so getting something…anything…is cause to be grateful to the man upstairs.

Advertisements

2 thoughts on “Another Low Action Kind Of Day

  1. This is my first August day trading full time so I don’t have experience with prior August’s. I hear they are slow and a lot of people just take a break. I can see my results in August are already down a bit because of the lack of volume. I will know now for next August to take profits a little bit quicker and not to overtrade. Lesson learned – month by month, year by year.

    Liked by 1 person

    • hey man, if that’s what your gut tells you, then that’s what you do. I feel like this is why you are achieving alpha because you’re being more dynamic instead of being textbook. nothing wrong with being textbook per se, I just feel like it exposes you to risk more than it should and I personally don’t like all that much risk. nevertheless, enjoy these new firsts!

      Like

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s