The New York Stock Exchange was a monster today. All you literally had to do was just sit back and set some wide stops and you would have been rewarded. Even if you weren’t the type to do that there were plenty of trading ledges where you could have jumped or pushed off from depending on your market bias. Overall, it was a great day….if I had just stuck to the cash open.
While I would like to say that today was cool, it just wasn’t towards the end. I traded very very well in the cash open and I was able to do it with size. I considered just closing up shop for the day and enjoying life, however the other part of my trading business is to take on risk with other assets. It’s the only way that I can maintain a balance in the overall portfolio that I manage. In theory, it works great but as with all theories it is a double edged sword and what will work good for you one day can completely obliterate you the next. I traded Feeder Cattle and got completely rocked. I gave back about 70%-75% of my profits from the cash open and I wanted to jump off the top of the Burj Khalifa.
Am I really frustrated? Yes. Do I have my work cut out for me in terms of improvement? Yes. But am I going to take it out on the world just because I traded stupidly? No. And herein lies my test in this dumb and worthless business. It sucks because it is a huge and inherently unknowable endeavor and I’ve already been sick of it for years. The only reason I’m in this game is because the money comes in so fast…however, the money also leaves that way. I don’t want to take this loss into the rest of the day. I already felt crummy for the whole afternoon so I just want to prep for tomorrow. I’m thankful for all my blessings though, but trading can go eat sh*t.