The New York Stock Exchange started out a little too indecisive for my needs today. I don’t know if we’re just kind of hanging at a level or people just don’t want to take any positions early in the morning. Either way, I feel like we are in a news driven state moreso than usual. I would figure that we have digested all the news about North Korea that we possibly could have and President Trump has pretty much established the tone of the White House. I guess this is just the way it’s going to be.
As I mentioned above, I didn’t make all that many trades in the cash open because I just felt like there wasn’t going to be the action that I needed. I attempted three quick scalps and pretty much drove the PnL into negative territory because of those trades. I also took a trade on the British Pound overnight thinking that we would gain some strength from the recent pullback but when I woke up around 530 this morning, I just felt like the market wasn’t going anywhere. It’s a good thing I exited out too because I think it fell 50+ ticks since. That trade and then the cash open made me decide to call it a day in the salt mines and concentrate on other things that I have to get done.
As the title suggests, I am indeed having a bad month. I am making money but am not at the ideal spot of having x amount of money at x time in the month. It makes me uncomfortable. Again it’s hard to maintain a constructive attitude about this but it’s the only thing that I can do. As a trader, I can’t allow my emotions to take hold of any facet of my life, but in the same coin I can’t allow “intellectuality” to govern my decisions. There is intelligence and there is intellectuality and as you may guess from my tone of the word, I do not like intellectuality. I have come to realize that life’s solutions – which often include trading – boil down to simple principles. And in the end, when there’s so much probability involved, I’ve learned that no one can really be a hundred percent certain of what they are doing. They can only be more or less certain of where their thought process is. So while I am having a bad month, I know that I still have control – more or less – over how I think and how I perceive my daily work. That is what is most important, even beyond the PnL number because the PnL is the derivative of that building block.
Enough talking. I am pissed that I lost today but I need to be grateful to God that I still have a life and that I can still trade tomorrow.