The New York Stock Exchange traded quietly this morning as it was another day of climbing the “worry wall” for traders and investors alike. Even though we traded into record highs, it feels like it was a struggle to move upwards. I don’t know if the market moves like a wagon on a hill but if normal physics is any indication, we may have a correction that could severely beat up on spaghetti margin traders.
I couldn’t really trade well at all today, by my standards. I tried to take a couple of trades on Wheat but I couldn’t really get a good read on that market. It was a little frustrating as my PnL went from green to red. In the end, I couldn’t do much with the trades and decided to go home with a loss in commissions. The cash open was no different. Like I said above, it was a bleed upwards and there were a few sphincter clenching moments before I was able to get the ticks that I needed. I felt it was just too risky to trade the markets so I decided to call it a day. I got the ticks I needed and even though the day wasn’t economically productive, I at least got the PnL to even.
Today was a really quiet day. I forgot to post because I was so sleepy after trading. I had a bit of an upset stomach last night that kept waking me up intermittently. It’s TMI, I know but it just underscores how much getting rest is so important to me being in this business. If I didn’t wake up because of being so tired, then I would have lost an opportunity to make money. Of course, today’s session wasn’t all that great but if it was then…yeah, that would really suck for me. Opportunity cost can greatly impact a trading month, so I’m glad that I at least got some work in. Now, I’ve got to prep for tomorrow and make sure I get a full night’s sleep.