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.

 

 

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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

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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.