The New York Stock Exchange opened up well in the first couple of minutes but then volatility kind of dried out for a while before resuming an upward ascent. It was cool if you just bought and held but it was not cool if you were me trading in and out without really wanting to get into a position. I figured we would be in for a little doozy today with the GE news. Couple that with Citigroup (I think) taking a big write down and we have a confused day on our hands. However, the market seemed to kinda shrug it off and make a new move towards 26,000. It was the same for the other two US Indices.
I traded Cocoa today and while I could have gotten more out of the moves it made, I just didn’t feel comfortable any longer risking more capital. Truth be told, I was actually lucky to come out a handful of ticks above commissions and my policy is to not press my luck when I feel like I’ve been granted some softball lobs to hit on. That left the cash open and it was generally the same story there. I though we were going to get some type of fast action but it all just kind of ended with a tight range and it was more or less orders from retired billionaires giving their wealth managers some business. I took a couple of trades for my default size and while there were some bad trades I kept the negative PnL from those to a bare minimum and when I got the 3 or 4 trades that I needed, there was enough size and ticks to make the day end well and supplement the Cocoa PnL.
It is snowing today in the East Coast. It’s not a winter blaster like we had a couple of weeks back but it’s definitely enough to get you to slow down on the interstate. The wife doesn’t have work today so we took a walk around the neighborhood before going back in and heating leftovers from a dinner we went to last night. It was nice. Now, I’d like to sit back and review the trading day and prepare for tomorrow. I am very blessed and I thank God that I’m in a position where I’m not stressing about what a dumb career trading is. It’s easy for me to say that maybe tomorrow something bad will happen but I’ve learned that you’ve got to be mentally strong enough to tell yourself that you’re going to make money, no matter how much you doubt yourself. I expect to make money every single day and when I don’t I take solace in shitting on the career of trading in itself. Anyway, I’m out. Thank you God for this wonderful day!