Another Day In The Books

3cc83349662986993de32476f7c2fe21The New York Stock Exchange is definitely well back into its normal trading cycles. Volatility is there but there are also periods of calm price flow. Everything is kind of where it needs to be, at least from my gut perspective. Today was a strange trading day for me as my internet went out early in the morning so that left me with only the cash open to concentrate on.

I went to a local Starbucks near me (thank God they have multiple locations that are readily available) and traded the cash open there. There wasn’t a whole lot of price points to jump off from but there were opportunities. However, because of the beating I suffered yesterday I just scaled down a little bit on the capital exposure and made sure to chip away here and there. Overall, trading the cash open was productive and I beat out business costs in a meaningful way. I did not trade too much because on days like this, trading too much is a capital exposure risk that subjects your account to undo stress – and you know I don’t like stress. There’s stress enough being in this dumb business.

I am thankful to God that things worked out today. While I didn’t take home a nice payday, it was still something and money in the pocket is better than a PnL that hasn’t been closed yet. This week has flown by. I can’t believe it’s already Wednesday.

Yet Another One Of Those Days

profile 6The New York Stock Exchange seems to be settling down. Even with news that Secretary Of State Rex Tillerson has been fired, the markets seem to be taking everything in stride and just carrying on with whatever business has to be addressed. What will this mean for the markets moving forward? Who knows. But hopefully, it will have the kinds of opportunities that can produce solid returns for everyone participating.

Speaking of participation, I wish I didn’t do anything today and just took the day off because I’m just churning business capital over here. My British Pound trades were ok. I exited on of that asset with a handful of ticks on size. Nothing to write home about mind you but there was enough to call the day productive. It was the cash open that proved to be the PnL killer. I thought we were going to get subdued moves – which we did – so I ended up putting on size on my trades. It turned out that the moves were so staggered that I ended up getting out at the wrong times and thus costing myself several dollars in PnL cushion. Basically, I ended up churning my way out of the cash open with the costs from that misguided foray getting into the British Pound trades. You could imagine how upset I was.

But that’s how it goes in this largely stupid dogshit business. I’m left again ruminating on what could have been had I followed my parents’ advice and become a lawyer. In fact, that’s probably what I’m going to tell my kids but knowing the way I was when I was young my kids would probably do the same stupid shit like try to become Hollywood stars or YouTube influencers. I guess that’s just the luck of the draw. Still, I have to thank God that I didn’t push my business costs to a really bad place. I still have tomorrow and the whole year is still positive for me. I bought some lottery tickets this morning. I’m hoping that I’ll strike it rich.

Covering Costs

profilepic3The New York Stock Exchange was subdued this morning out of the bell. I don’t even know what the premarket indicators were or where the futures were before the bell but as soon as trading commenced, there wasn’t all that much of an interest in buying or selling. I didn’t get to read the headlines for the Wall Street Journal so I have no idea what is going on in the world and will have to resort to Twitter when time allows.

I traded Wheat early in the morning because I felt like we were in for a good move but it was all just a setup with nowhere to go – a capital expenditure that netted nothing. After getting knocked around there I decided to prep for the cash open. I wish I had just called it a day after Wheat but I figured that we’d get some action in equity futures. I was kind of right but mostly wrong. I was still playing in the mode where there’d be these gigantic swings in prices, nausea inducing G levels of price reversals and overall shitting-in-pants trading but on the contrary prices moved like a line of ducks crossing the street. This resulted in a PnL that was basically more cost than gain and if it was gain then it was barely at that.

I’m done for the day. It’s been a full Monday for me so far but I am just sleepy as heck. I am glad that I didn’t lose money and thankful that I can come back to this dumb business tomorrow and give it another go.

I Needed This

prof3The New York Stock Exchange started off with a lot of energy this morning – but it was a settled energy. I can’t help but laugh at the irony of this whole Gary Cohn resignation thing. I remember back in November or something like that when CNN said that the Dow could drop 1,000 points if Gary Cohn resigns. I don’t remember if it was CNN but it was some news outlet that said it. I think they predicted an even bigger decline. So now, Mr. Cohn is gone because he split with the President over tariffs. Again, I’m not one to get all political but since this has to do with the economy, I’m gonna drop my hat into the ring. While I do feel uncomfortable about the tariffs being passed, I think that in a way they are necessary to kind of even the field a little bit in the long term. The thing is, we don’t have the infrastructure – or the necessary infrastructure – to produce what the tariffs are aiming to curtail. But I suppose this is all in Trump’s vision of economic independence for the country. While I have mixed feelings about it, history has shown that America can handle severe economic tests rooted in practical purposes. The problem with Obama’s America is that it tried to move too much into the social hypotheticals which – for all of their theory – produced next to nothing in terms of actual benefit. Either way, the country had to trust that and the country now has to trust President Trump.

I did not trade any other assets today because I didn’t like the look of everything outside of the cash open. And being that it’s a Friday, I didn’t see a need to commit any capital where it didn’t need to be applied so I just waited for the cash open. I only concentrated on the YM and I’m glad I did. We got a nice little space of time where the sellers just pounded the crap out of the index so it was just a matter of putting more weight on every time the index came up for air. I was able to sell pretty much the maximum amount of contracts I wanted to and it really paid dividends for me. I don’t need to trade for the remainder of the day and I don’t need to look at any more assets. I can just go and meet up with the wife for lunch, come home and crack open a beer.

I am so grateful I had the day I did today. I thought it was going to be another one of those slugfests where I’d have to make sure my commissions and fill prices were on point. Because the market moved the way it did, all I had to do was sell and wait. Compared to the rest of the week, today’s session was about as much of a walk in the park as a walk in the park could be. Now, the priority is to focus on the rest of the day and try to be a decent and professional human being. It’s a beautiful day in the East Coast and with the sun out, the snow we had is really starting to melt off. It’s a great Friday to be alive. I just can’t believe we are on the June contracts now! Time sure does fly!

Oh Man, Totally Forgot To Post Yesterday (Or Did I?)

general-william-tecumseh-shermanThe New York Stock Exchange is definitely settling down. I can feel it with each passing day. there may be one or two hiccup days like yesterday but overall, there’s a normalcy that’s creeping into the markets and I’m looking forward to things “easing” and everybody getting a fair shot at trading once again (as if it’s ever been fair). I totally forgot to post yesterday but I was productive in both my asset trades and the cash open.

Today, I traded Feeder Cattle for a decent gain and more or less broke even in the cash open because I dug myself into a hole trading YM that I just couldn’t climb out of. In the end, the only thing that buoyed my performance was Feeder Cattle. I can’t say I’m too broken up about it. After all, having money is better than losing it so I’m not complaining.

We had that huge nor’easter yesterday and it just kicked the crap out of everybody on the interstate. This is why I didn’t remember about posting. Anyway, you could barely see anything. The wife had to go in for work and she ended up being too scared to drive back. I don’t blame her. When I picked her up in my heroic American pickup truck, we were the ones leading the line of other cars through the snow packed highways. The plows couldn’t keep up with the amount of snow falling. There were people getting stuck and pulling over but not us, we just kept trucking. I just made sure to keep an eye on where the divider was because it was literally white out conditions. The irony of the whole situation was that once we got home, the snow stopped. It was a bad storm at its worst but a total nothingburger in whole: fake weather, that’s what I called it. The wife didn’t want to admit it, but even in her new luxury SUV it would have been tough to navigate those conditions. I wouldn’t have trusted it to be honest with you. This is why my gigantic pickup truck signaling American strength and macho virility complete with heavy metal guitar riffs playing in the background is always the go-to vehicle for me.

When we got home, I kept trying to give my wife “the macho man seductive eye”. After rescuing her from that bad snowstorm, I felt like I was owed a little something something, you know what I mean? LOL. Anyway, she toasted up two Eggo waffles for me and reminded me it was recycle bin pickup tomorrow. SAD!

Getting Through, Moving Along

profile 6The New York Stock Exchange was relatively quiet this morning. The spread wasn’t so daunting as to direct price volatility but there was enough movement in the DOM for money-making. Do you guys ever have those weeks where there is just so much happening consecutively that you’re almost at the point of shitting the bed and saying “fuck it”? Well, that’s me right now. Last week, I told you about how the wife and I were working on something for her parent’s house. Well, it all worked out very well and by Saturday night, we were reflecting on how well we worked together as a team.

By the time Sunday rolled around though all of those good feelings dissipated as we had another issue, this time for her work, that came up and had to be addressed. I never want my wife to feel like she’s on an island so I always do my best to help her even if it’s just a ride to work if she feels too tired to drive. Anyway, this problem has been taking so much of our mental time and has been a taxing endeavor. I’m starting to almost forget that I trade for a living because of how these waves of problems seem to wash ashore when the prior wave isn’t even starting to retreat. So that’s where I am. I couldn’t really find an asset to trade outside of my cash market opens so I just concentrated on the Nasdaq. Overall, it was…..ok. Mostly productive but it wasn’t a grand slam. Let’s just call it triple in game 5 of the NLCS against Jake Arrieta being down 1-2 in the count late in the game (something like that, lol). I traded for size today so it really lifted the PnL.

I am quite exhausted. I wish I could just drop everything, put the wife in the truck and head out to the airport for a trip to Lake Tahoe. God, that would be great. But as great as it is, there are things here that need to be cleaned up and I’m not exactly making Lake Tahoe type of money so far this month. For now, I just gotta grind. I am thankful to the man upstairs that I’m staying ahead of my costs – now if God could only give me a couple hundred million I would be set.

Slow Off The Blocks

RooftoRunThe New York Stock Exchange started off wildly this morning (no surprise) but I’m starting to get the sense that everyone in the market understands that it’s best for prices to sort of “chill” and have some type of balance in order for all transactions to fill their purposes without slippage and similar inconveniences. Does this mean that the market won’t freak out at the next geopolitical fire – no. We’ve already seen how susceptible market prices can be at every news headline. The best we can all do – even know with the market calming down – is to play good defense and to ensure that we can get out of bad trades as quickly as we can.

Which brings me to my own trading performance for the day. While I wish I could have done better for the entirety of the PnL, I just didn’t and it ended up being a crappy day for me. Let’s start with Wheat. So, I traded it this morning and just when I thought there was a good setup for me, something that would put me in the promised land, a couple of trades went against me and those were, unfortunately, for size. I was trying to remain positive and thinking to myself that I’ll get it back in the cash open. For a little time, I felt like I was on a roll and I could see that negative PnL number diminishing and getting closer and closer to positive green. Then, I hit a row of four bad trades and that pretty much put me down where I started with the Wheat PnL.

Something in the air? Maybe. The impending nor’easter we’re all supposed to get on Wednesday? Could be. The fact that I had stale Corn Pops cereal this morning and the staleness of the cereal transferred over to my trading? I’ll probably give that the 99% nod over the other two. I’m kidding. I don’t know. I just basically shit the bed but for all of that, I’m glad that I didn’t go beyond my daily loss limit and start trading like a cocaine-raging bro. Sure I’m pissed but what else is new in this dumb business. This is the only business where you can do everything right and still end up on the losing end of the day. The only thing that helps you is how much you love yourself. Do you love yourself enough to stop losing so much money that it starts digging into you capital reserves? Do you love yourself enough to take days off and not let trading affect other parts of your life? Do you love yourself enough to appreciate the other things that life and God has to offer instead of money – even though that’s like 98% of everything(LOL)? The answer to those questions for me are a definitive YES and it should be for you too.

Now, if you’ll excuse me I’m going to get off of my soapbox and smash the monitor with it.

 

Time To Call It A Week

profilepic4The New York Stock Exchange has been settling down and I can feel it being less and less of the monster that it was a few weeks ago. This is good news for me and I suspect good news for a lot of traders. I saw that we had a bit of a doozy yesterday with the market but at this point a four digit move is the only thing that would make my ears and eyebrows perk with interest. I’m not going to really think about trading for the rest of the week because I’ve decided to take the day off tomorrow.

The wife and I are working through a bit of a situation regarding her parent’s house and this has needed our attention because it’s something we’ve all kind of kicked the can down the road on for a while. Negotiating repair costs with contractors can be such a drag and it’s made even more so after we’ve just gotten done negotiating for her new SUV. It’s taken quite a bit of a toll on us given the unexpected nature and scope of the repair. How does this tie in to my trading? Good question. The thing is it shouldn’t but because the wife and I absolutely refuse to deal with this problem on our weekends, we decided that it is best to deal with it during the week and battle it as aggressively as we can. This leaves me with no other choice than to pull back on daily trading work.

However, as you know I didn’t scale all the way back. It hasn’t been a dead week so to speak but it hasn’t been a spectacular one either as I was trading with essentially one hand tied behind my back. The cash open though today – even though I wish I did better – was productive. I didn’t make as much as I wanted to but hey, beggars cannot be choosers. I also traded Wheat in the early going but got nothing out of that with the exception of a few ticks.

Like I said, I will be taking the day off tomorrow so that we can make the weekend as light as possible. I’m not expecting any miracles but if we only have to do a morning’s worth of work on Saturday, I will be very happy. Hope the Friday will net you guys some money.