The New York Stock Exchange already had its move in the Asian and London sessions so I figured this morning was going to be liquidating and trying to get as many people into the market as possible. The open did not disappoint although the swings were bit crazy that’s where you earn the money.
As the title suggests, I didn’t perform as well as I wanted to today. I should have just stuck with the cash open and not paid attention to any of the other markets out there but I went ahead and traded Wheat. I figured that would be a nice hedge against geopolitical shenanigans – but only if I made money in it. The result was that after a series of trades trying to position myself I ended up in the red big time. The only thing that saved me was that I performed well in the cash open. Like I said, the moves were pretty big and most of my money was made in that brief selling spell that we had to open up the morning. While I was able to get out of the hole that I dug myself into, I was not satisfied with the final PnL number. I could have had a really productive day today but instead my take home reflects a gross inefficiency in my portfolio planning for the day.
I have started to think about how I want to trade the remaining days of this year and while there isn’t a definitive strategy, I would like to take the last 2 weeks of the year off. I’ve saved up enough in trading earnings to do this but it’s not like I’ll be going to the Park Hyatt in Tokyo or something. This money is a means for me to veg out at the house, not on a posh vacation. Of course all of this comes with a tradeoff as to what I can do with the money. Right now, I’m just disappointed because I believe that these first few December sessions for me portend a weak trading performance for the month.
I am so thankful to God for my blessings. I just wish I won the lottery so that I’d never have to look at a single DOM scale ever again. Fuck this business.