The New York Stock Exchange started off slowly but made a really nice move to the upside. I didn’t see whether there was any news or not but seeing it go with that much of a move early in the session was a great feeling. The only thing that I didn’t like about today was that I didn’t take advantage of it as much as I could have because I still felt skittish about yesterday’s performance and how the general market would move.
I didn’t trade other assets today because I didn’t have time to really pay attention to them. I have a couple of other things I’m trying to get through with today so anything outside of the cash open had to take a back seat. I’m glad. I kind of want a break anyway. I haven’t really been trading to my full potential and it’s taking me to a mental place that I don’t like. I don’t know how I’ll pattern my break but if there’s one thing I know from experience it’s that I don’t want to be “intellectual” about things. That means, not overdoing it on the charts, strategies, etc. Sometimes, trading is just that – trading. However, it should be noticed that shit trading begets even shittier trading. It’s the gift that keeps on giving except you really don’t want it.
I believe in chance and luck more than most people but that’s just because I have an extensive background in the markets. You just realize that after a while, it is very casino-esque. There’s no way of talking around the fact that it is gambling. This is the part where everyone will say: well life is a gamble, and you know what – they’re right. There are things that I don’t know about the market and there are things that I don’t know about trading. At the end of the day, the only thing you can do is rely on good principles about money management and not being a gunslinger. There is a place for shooting from the hip but those times are rare. There’s only how you react to the market and how you compartmentalize it from the rest of who you are as a person. I liked today and I’m thankful to God for it but I’m simply not happy and will look for fulfillment in other things.