State Of The PnL

77bdd6e367dfe91371285de6869c907bThe New York Stock Exchange had some pop today as the overall market opened up very positive after yesterday night’s SOTU address. I watched the whole thing and it was actually very refreshing to see someone with a clear and comprehensive vision mapping out what the country needed to do in order to become competitive. While America has always been the benchmark of the entire civilized world, there is no doubt that the country had been under stress fiscally and it really showed in the trading markets. This is what happens when there’s too much well-meaning regulation that stifles a homegrown attitude of risks, leaping & bounding towards new developments and being flush with cash to do so. I am absolutely in favor of taking out unnecessary regulations in order for companies – and citizens – to do/spend as they wish.

I didn’t want to trade the cash open as I saw that the YM had already ran up some 220+ ticks overnight. Most of the move had already been priced in and the open would just be a bunch of hoohas trying to get in on the hysteria – I became one of those hoohas. While there was something to be taken from the cash open, I just didn’t get enough to warrant a nice little irish jig in the livingroom. Being productive is nice and I am grateful but I wish for wealth far beyond my wildest dreams. I want to live like a limousine liberal and talk about social justice in a whiny voice while eating caviar poolside in Beverly Hills. Man, those guys have it good. Then afterwards, I want to jump into my pickup truck and head on over to Carl’s Jr.’s and partake in the all-American custom of eating huge burgers. I didn’t trade other assets today because I just didn’t have a good feeling about anything else. Usually when the cash markets are this good, the commodities are bouncing around unpredictably and killing smaller traders in their bi-polarness. So there, I didn’t do anything today really.

I’m thankful to God that my day was productive. I didn’t make as much money as I would have liked to but there is always a market tomorrow and as long as I’ve got cash in the account and I know when to get crazy with risk that is 98% of the equation right there. Time to play Halo until my eyes fall out live mindfully, graciously & professionally anticipating tomorrow’s market.

 

 

Another Day At The Office (Dining Room)

10f568c7cbb17c082b58bf2f6c9b3d32The New York Stock Exchange opened up with a vengeance this morning. Everybody; short, long, flat, was affected someway or somehow. There was no hiding from the babadook this morning. I wanted to sit down and watch a little CNBC to gather what the news was but that’ll have to come later as I’ve got other stuff that I’m taking care of today.

I didn’t have any morning trades to make although I wish I did because today’s market was a surprise and given what I saw, this sell-off had to have originated in Asia – or maybe not. Again, I am just guessing here. I haven’t looked at the news since ignoring dinnertime last night…on my phone…next to the wife…glaring at me, lol. The food she cooked was great, really. Anyway, so I didn’t have any other assets to trade. I just focused on the cash open and when I opened up the laptop, I was like “whoah…”. That’s the most I’ve seen futures down pre-market since like the morning after the election so I figure there was some type of important news. Anyhow, the reason why I said the markets came out with a vengeance was because even though I was reduced on risk, the markets were bucking and swinging so wildly that my choke points became bounce back points. In retrospect, I should have recognized this earlier but like yesterday, the damage had been done in a few handfuls of trades. This time though, I didn’t have the benefit of a good asset trade(s) to help me out.

I’m pissed. I’m sure you know this but yes, I’m really pissed that I lost money today. But I’m thankful that I really cut my risk and turned what could have been a bloodbath into a less crappy thing. What can I do about it except to accept it, move on and prepare for tomorrow. I’ll get to watching CNBC now but not before I thank God for giving me the knowledge to get out of the market’s way today.

Alright, Alright, Alright

Matthew_McConaughey__how_I_got_my_head_around__awe_inspiring__InterstellarThe New York Stock Exchange didn’t do much out of the open. However, it doesn’t mean that it won’t submerge or blast off in the later hours. I expect most of the move it will do will be news driven but I’ve already done my trading for today so there’s no point in waiting around for something that might happen. Predictions and Theory are not something I spend time on. I need things that are real and powerful. This is why I’m in the thick of volatility. If the market isn’t moving, I’m a disgusting miserable pig faced slob. For me to maintain this Adonis-like veneer of sheer trading musculature, the market must move. It doesn’t matter, net 60, 40, or even net 25 ticks. As long is it moves, I’m in it to win it.

It would have been nice though to win at today’s cash open. After the bell rang though, I couldn’t tell a cow’s ass from its head. My first 4 trades were losers and I realized that I wasn’t going to make any money at all. I traded a couple more times and most of them were break evens with maybe 2 or 3 being positive. It wanted to recover as much of the PnL as I possibly could without it diluting my other trades of the day. I traded Cocoa as well and that was the winner for the overall PnL although the cash open loss ruined what would have otherwise been a good day. I saw good entry points in the asset and even though I felt badly that I didn’t go in with the size I should have, the range of the moves were helpful towards a PnL that I was satisfied with.

Overall, today was a great way to start the week albeit the cash open but those things can be improved upon. Hopefully I can cruise to the end of the week the way I did the last. I am very thankful to God for such a great and stress-free morning. Whatever comes up later on, I think the wife and I can handle it.

Damn, It Feels Good

RooftoRunThe New York Stock Exchange started fast but it wasn’t really like blinding fast. It was more fast in terms of headfakes and false starts only to reverse – basically a chop. I don’t know what the news is so maybe after this post, I can go in and watch CNBC for a few minutes and get myself caught up with the most important news of the day.

I traded Wheat this morning for a few go arounds. I felt like I could really exploit some movements but in the end all I did was waste commission dollars. It’s a tough thing to have an idea and then you try and catch it as it comes to fruition and then it doesn’t do what you thought it would. I guess it could have been worse, I could have actually lost money in the asset and then it would have gone where I thought it would go. Those are the kind of trades that hurt the most. With that done, I focused on the cash open. Even though there wasn’t that much volatility, I went in with size and was able to secure a good amount of ticks moving to the short side of the market. While there were one or two losing trades, I managed to control my exposure to each play and got out with a solid and cost-efficient PnL.

I can’t tell you enough how good it feels to go into the weekend with a positive PnL. If there is one thing I would really urge for traders it would be that. Forget the rest of the week, just try to end positive on Friday and it will set you up nicely for your weekend and thus the beginning of next week. Losing money on a Friday blows and if you’ve traded long enough you’ll understand why even though I cannot articulate it because I am outside typing on my laptop and it’s damn near freezing. I have no idea why I am typing out here but I’m glad I am almost done with the post. Finally, it is a very beautiful day today even though it’s cold. I am grateful for the positive PnL and I hope that I can leverage that into other things as the weekend rolls in.

Neither Here Nor There

profilepic4The New York Stock Exchange traded with a lot of energy in the get-go but there was certainly trickery afoot as buyers were carefully mapping out their in-strategy. I don’t know what, if any, headlines are out there. I just plopped in front of my desktop, logged in and got to trading. Don’t get me wrong, I was mentally ready. I just knew what to do so I didn’t need to go through some tea-ceremony ritual in order to attack the markets.

Looking back, maybe a tea-ceremony ritual is what I need, who knows?

I did not trade other assets this morning because I didn’t see anything worth committing capital to so like I said above I just sat down at the desk and prepped for the cash open. When it did, I was ready. I unleashed a barrage of orders. I was fast on my contract number adjustments with the use of the mouse. My fingers were busy making hotkey strokes in order to match the intensity of the morning’s open. In the end though I didn’t make jack-diddly-schlong as I kept getting faked out by the sell moves and the buyers that came in to plug up supply. I did however make the last adjustment of just waiting to get in and got a good handful of ticks on 2 or 3 trades. However, the damage was done and looking at the PnL I could not reasonably foresee a situation where I could meaningfully beat my business costs at the trajectory of today’s trading acumen. I just calmly logged off the system and did one of those dramatic ibuprofen/naproxen TV commercial poses where the person’s face is in obvious pain from a headache and they put their hand on their head to communicate it.

So, for today I am neither here nor there but if it saves capital then so be it. I want to be trading a market that’s in the mood to give me money, not one where every little thing I do makes it snap at me and curse me to the depths of hell. I am glad I did not lose money. That alone is enough to praise God for and I will live the rest of this beautiful day appreciative. I have a package from Amazon that I just took delivery on as I was finishing this last paragraph. I will open it and be thankful for whatever is inside because I have no idea what I order from Amazon anymore. Online shopping has turned me into a literal child at a candy store whose Xanax pill popping parents are too high to go with him and therefore they just give him $50 to get whatever he wants, uh-huh…yeahhhhhh..

Big Sweat, Small Reward

prof8

The New York Stock Exchange opened up with a decent pop and there was some pretty good volatility. The only problem was that I didn’t feel like there was much in the way of news or technical that could have given a volatility boost to the market. Instead, I figure we’re just going to be in for another one of those bleeder days where you look at the screen at 10:30 and the market hasn’t done anything and then suddenly it’s done 8 handles before the close. Whatever, that’s just how the game goes.

I traded Orange Juice this morning hoping for a quick pop from a moving average perspective and while the market did go my way, I didn’t feel like it was doing it with conviction so I took my money out of it and after looking at other assets, decided to call it a day. The cash open was more bountiful for me. Even though there wasn’t a whole lot to gain by committing to a side, I was able to beat business costs for a productive day. Additionally, I didn’t trade all that much in terms of round tickets. Most of my trades were heavy size cement balls designed to squeeze something from small moves. It was a lot of work and the reward…well, it wasn’t worth the stress. Don’t get me wrong, I’m happy that I made money but whenever I have to hold the earth up over my shoulders for a couple of ticks in the PnL, I feel the call of getting a CDL license and becoming a trucker.

I have a headache. There’s a lot of stuff going on around the house and today I balance out the checkbook. I am really tired and I have no idea why. Maybe an early lunch will help. As always, I am appreciative to God that I have even a day as slow as today. It’s still a wonderful existence.

Missed Connections

profilepic3The New York Stock Exchange started off…well, I don’t know how it started off.

Let me explain.

I was just wrapping up a cup of coffee and three toasted waffles after trading the Euro early in the morning when my wife walks up to me and says her car won’t start. “Well gee whilickers..”, I say (I really said that) “guess that leaves only me gettin you where yer goin darlin”. I said it in a low, sexy cowboy/farmer voice. I was waiting for her to laugh but she just rolled her eyes and gave me my keys. Women, amirite???

I was satisfied with my Euro trades because there were enough little moves where I beat commissions productively. I was also going to trade Wheat but I just didn’t see any good bounce points where I could get in. With the Euro trades in hand, I packed the work laptop into the pickup truck and off we went. After dropping her off, I got set up at a local Starbucks near her hospital. It was crowded but I was like, “whatever, let’s do this” and prepared myself for the opening bell. However, a strange thing happened: my charts were fine, it was just the DOM wasn’t moving at all. There was no data coming in about where the current bid/ask prices were. I tried logging off and logging on again but it didn’t work.

I am a firm believer in things happening for a reason – but mostly in the realm of speculative activities. I think there are things you can control – to an extent – outside of things where you figuratively roll the dice. For this reason, even though I don’t like to waste days, I was willing to accept that there was probably a momentary lapse in the data feed or (more than likely), some dimwitted asshat in Starbucks was probably logged into Steam playing CounterStrike. Whatever. Fine. I can move on. Sometimes when things like this happen, you just gotta sit back and figure that you saved some capital. Who knows, I mean, looking at the way the market opened on the charts, I don’t know if there was any way I could have really made a decent profit scalping. It looked like whoever wanted to get long got capped by the shorts and vice versa. I like to think that there was divine intervention here. I thank God if such was the case.

As for the end of the trading session, I just hopped back in the truck, iced coffee in hand, playin some good ol’ country rock. Maybe the wife will be more receptive to the sexy cowboy/farmer voice when I pick her up later.

 

 

Picking Up Quarters On The Train Tracks

77bdd6e367dfe91371285de6869c907bThe New York Stock Exchange had some good moves this morning. Too bad they were in the opposite ways of each other. I was lucky that I didn’t get mowed down in the crossfire but the PnL didn’t fare as well as I would have liked to given my protective stance going into the cash open. It’s said that the smart traders pick up the quarters on the train tracks one by one and step off while looking out for the train while the not-so-smart-but-intellectual guys are looking at charts and indicators as they try to get as many quarters in one go and get creamed as the train comes in. I’m not sure about how correct that quote is but I can tell you from personal experience that it has a large degree of applicability. More times than not it pays to be dumb with common sense rather than be a genius with none. That’s kind of how the market went.

I didn’t trade any other assets today because I just didn’t see anything that was worth trading, so I just focused on the cash open. Like I said, there was a lot of energy but very little room in the way of perching for sustained or even reverse moves. I know that there was a lot of ups and downs going on at the open but I just felt like the market was more opaque today than it usually is and I think it has a lot to do with being more than a day into the government shutdown. I’m sure this will all be settled but the effect on the US markets is definitely there. I just couldn’t beat commissions in a meaningful way and the trades that I thought would go my way eventually ran against me. It’s hard to make any money in that kind of environment. When I realized that business costs were really starting to eat hard into the PnL that’s when I decided to just quit for the day and close up shop. There is tomorrow, after all.

Everybody is going nuts up here because the Patriots have made it back to the SuperBowl. Well, almost everybody. I’m not thrilled. I hate the Patriots. But I respect the heck out of them. A part of me wonders just how a team like that could have come into existence. It’s almost as if so many factors aligned and just produced this amazing creation. Make no mistake about it, in the history of football and in its future there will be no team like the Patriots – ever. What they have done is beyond astounding and the crazy thing is, they won’t be remembered for choking twice against the Giants as much as they will be remembered for winning in close situations. I remember watching the SuperBowl last year and EVERYBODY though Atlanta had it in the bag. My wife and I shook our heads and were like: “no….you don’t know the Patriots…not like we do”. We actually left the bar when we felt like the Falcons were starting to slow down because we both knew there were gonna be alot of pissed off Falcons fans hahaha. Personally, I hope the fucking Eagles win because if not, I’m totally gonna shit on every Eagles fan that dares to rock those hideous colors everytime I’m in the Philadelphia vicinity. Being in the New York area for so long, I saw the subtle divide as you drove down Interstate 95 from SUV’s with Giants/Jets decals turning into Eagles decals once you got into the countryside. They have a big fanbase. Additionally, can get pretty rowdy. So, I’m willing to give the team a pass from Donovan McNabb’s performance and hope that Nick Foles can pull an Eli Manning. I just look at the Patriots and wonder what it would have been like to be a fan of theirs, having a reason to watch NFL football all they way into February – it’s amazing. Looking back, I wish I was a little bit more learned about the coaches instead of the players but I’m satisfied with the team the wife and I root for. I just wish that it could have been us reeling in championship after championship.

Anyway, enough of that shit. I’m glad I didn’t get destroyed today and I am thankful that God has given me a new day to enjoy. Time to be a decent and professional person. I’ll be ready for tomorrow.

Blasting Off Into The Weekend

profilepic3The New York Stock Exchange didn’t start out with much of a pop compared to the last two weeks of market action but that didn’t mean there wasn’t one. A couple of minutes before the open went off there must have been some big news because in the span of 4 minutes the market spiked up with the Dow moving 50+ ticks into the stratosphere. I feel sorry for whoever had a short position lined up along those prices because that would have really really hurt.

I traded Wheat this morning and while there was potential for a good move, I didn’t feel comfortable hanging around the market any longer and decided that if I was going to do it then I would do it with a lot less risk and that’s what I did. In the end, I captured something but after the reduced risk it was diluted as I gave back a little bit on the PnL. I did this for two of the three trades in the asset and it produced some extra cash. Where I did do decently though was in the cash open. Even though most of the move was in that premarket jump, I was still able to get something from the back and forth orders at the ringing of the bell. There were plenty of places to snipe from so to speak and I feel like the market wasn’t too fast to where people could get in position and do with their positions whatever they wanted. Overall, it was a good way not only to end the morning but to end the week. I had a pretty rough start but I feel ok with what I was able to bag going into Saturday.

This week was bad not only because of my trading but because there were outside things that managed to creep into my daily life. It’s not a situation fit to blog about because of the complexity, rather, I realize that its lessons resonate in trading. I think we are all too familiar with an event happening to us that is challenging and painful. This is what happened to me in the beginning of the week. However, where the younger and more impulsive me would have lashed out and let his emotions get the best of him, I remained cool about the situation, looked at it from different perspectives and then went to work kicking the shit out of the people/situation that needed the shit kicked out of it. Of course, I’m not saying that I literally kicked the shit out of people even though that’s what I would like to do. I’m saying that a good strategy was deployed after a calming of thoughts. Same thing with trading. I got my ass whooped on Monday but after thinking about things, I didn’t allow my emotions to carry my judgement and put myself in a situation where I could recover. I’m not going to get into any more pep talk shit outside of saying that this is what trading is all about – controlling your emotions even if you’ve lost everything because YOU WILL lose everything. I don’t care what people say, I have blown up in my younger years and if I blew out my account then other “experts” have surely blown out their accounts. Anyway, whatever. I’m thankful to God that I’m going into the weekend positive. It’d sure be nice if I could have some time to play Halo though.

 

Late Day Post

profile5The New York Stock Exchange started out with promise today but after a few minutes, things looked like they were going to be locked up in a range. I don’t know if there was some type of big news or something but that was that and I didn’t fee like risking anymore capital than I did today even for a small gain on the PnL.

My cash open trading performance was middle-of-the-pack to below average. I just couldn’t get a good read on the market and my trades lacked the commanding bravado of mouse clicking that I usually have – in my wild dreams. No, I just wasn’t confident in my reads. They were there for sure and I did what I needed to do but I was caught more in the scared notion that I may be catching falling knives and walking into Mike Tyson uppercuts. Nevertheless, I kind of survived the cash open. The reason I say “kind of” is because I didn’t make money. The PnL was green but after taking stock of my commissions, if it is green it is green only by a little bit. My suspicion is that it was a negative day. Additionally, I traded the British Pound and Wheat this morning and they both cancelled each other out. I got paranoid with both sets of trades that I sold when I was kind of in the money and the held when I was kind of out of the money. The result was that the PnL’s were kinda shit. Same thing as the cash open, if it is green then it is not by much.

I really hate posting late in the day because at this point, all I want to do is take a nap or get my other stuff, like groceries & other errands, finished. I hate having to think about stuff in the afternoon that’s outside of my regular schedule. Don’t get me wrong though, I love posting about a career I absolutely detest. I am ready for tomorrow and I will review some charts later on but right now, it is better that I am thankful to God for the blessings that I have and that I enjoy the late lunch furnished to me via Kentucky Fried Chicken. Yum.