The New York Stock Exchange opened up quietly this morning but you could tell that there was energy behind it. It wasn’t a whole lot of energy but it was certainly enough for traders to get something from. Will the rest of the day be like it? Only the next few hours will tell but I’ll tell you this: I’m not gonna be a part of it because I’m done with this week.
I traded the cash open only because there were no other trades that I felt comfortable committing capital to. I mean, there was an overnight Euro trade but I just felt like that market wasn’t going anywhere on a Friday so I just left it alone. As for the cash open, I just traded the YM and the ES. Both assets were slow to move but they moved upwards which is pretty much what I wanted albeit holding them for as long as I did was a little nerve wracking. After that, I just wanted to pack it in and call it a day.
I am reminded today of why I hate this business. Not because of my performance – which was lukewarm at best – but because I just realized that had I guessed wrong on the overall direction of the early market, I would have been killed to the tune of 4-figures almost instantly. Yet, there are people that participate in the markets that do just that. They literally allow themselves to get killed under the anticipation that the market will somehow come back and give them money. Many of these people work a heck of a lot harder than I do and love the game much more but for some reason, even after putting the game on a pedestal, they still don’t succeed. So what does this tell me about the business? Well, it just tells me that this business is shit and doesn’t deserve anymore attention than the couple of hours I give it during the day. I have a lot of other things in my life that leave me with good feelings and I’m thankful for them. I don’t need to deal with this shit for hours on end. Thank God it’s Friday.