The New York Stock Exchange started off pretty well despite showing a marked slowdown going into 9:30. When I opened up the DOM, prices were moving swiftly up and down and we were literally at 0 to -1 on the YM. “This is a good jumping board for a move”, I thought – and it was, for the most part. The only bad thing to say about this cash open was that I didn’t make as much money as I wanted to.
That’s not to say that I made much but I made as much as the market could give me and on a Friday, especially after the week I’ve had, that’ll do. In all honesty, I didn’t really want to trade this morning but I have to keep plugging away because this is my business, it’s my trading company and I’ve got to be in the market and ready for whatever the day brings. Opportunity cost in this business not only has a way of making you feel crappy, but it also has a way of coming back to haunt you in the future when you make a bad trade. It’s all interconnected which is why trader books the world over preach discipline and good habits. It’s not so much about the trading as it is in how you conduct your business during it. Ok, I’ll get off the pulpit now. Be that as it may, I made the reads in the market that I needed to and now I’m done for the week. I did not trade any asset classes because I was fortunate enough that the British Pound trade(s) made up for my poor performance on Feeder Cattle. I just didn’t feel like taking any other chances on movers today.
If I could characterize this day, it would be like fried chicken without seasoning, pasta without tomato basil sauce, a line drive home run, or taking a shortcut that only saved you 25 seconds to your destination and incurring a flat tire in the process. But all in all, I’m still alive in this stupid business and that counts for something. I can celebrate it, but I’m not happily pouring out the bourbon. It’s more like I’m drinking it to dull the existential pain. Of course, I don’t want to lose sight of the fact that I am fortunate and I should be thankful I didn’t get killed given the size that I traded today. It’s off to the weekend but most important, it’s off to be grateful for the gift of life.