The New York Stock Exchange has been doing well lately in terms of trading energy and I’m liking it. It’s not moving as fast as I’d like it to but it certainly beats those sessions where I strongly considered holding onto contracts for a longer period than I would ideally like to. You would think that with an opening statement like this, I would have been able to make money in the market today. However, this was not the case.
As soon as the bell rang, I had a feeling that I just wasn’t getting the right amount of feedback from my brain and it manifested itself in me not being able to trade when I needed to and more importantly, cut losses when I needed to. It’s not like I got blown apart. On the contrary, I had a pretty good PnL number before I started falling back to earth. The problem was that I just kept trading and trading until I had allowed business costs to erode what would have been deemed a productive day. I wasn’t happy about this and immediately just closed up shop. As for other assets, there was nothing else going on in the markets that I was looking at and after looking at other markets to trade, I realized that I was already balancing a bad day on the books and there was no need to make it worse by trading a market that I don’t really know all too well.
I spoke yesterday about coming to a decision regarding trading for the rest of the week and I decided that the holiday will start now for me. The other assets I looked at didn’t look at all like they would move in either direction so I just decided that its better to have the rest of this week off.
This year had it’s ups and downs in trading but overall, I feel like I have had a very good harvest. It may not have been the harvest of years past but when I think about how much worse it could have been, I’m quite thankful that I even have money flowing into the bank account. There was a time when I first started out that I was so scared of money not coming in and even then, there was a stretch where I had to dig into my savings. Thinking back on those days, I couldn’t imagine sitting at my desk and opening up envelopes containing cheques from my broker. The feeling of depositing that money into your bank account is simply priceless. At the same time though, I do make it a point to tell myself that God determines this. Trading is a horrible and depraved business – but it does have a role in a modern mercantile society even though there’s no argument about the losses that most people incur. I suppose that this business, along with other businesses, carry the same amount of risk of ruin. This is why I don’t blame people looking for that one system or that one pattern. In a land of uncertainty, something that even looks like it could pass for certain is king – and the business needs people/books like that in order to attract as many market participants as possible. It doesn’t matter that some people get drained out of their life savings or that they jump off a roof in despair of monetary loss – the market needs capital to keep itself as the premiere avenue to riches. I don’t believe in hard work although I admit that it does have something to do with success. In this field I believe moreso in fortune and having the intelligence to synthesize that fortune into a workable strategy. Everything else, and I mean everything is just heresay and worthless pep-talk. When I say my Thanksgiving prayer on Thursday I will keep this fact in mind and I don’t mind reminding myself that through all of this, I along with the people that make money were given fortune through God’s word. None of this is possible without him.