prof3For the rest of April, I’m going to be plugging my 1 year WP anniversary post as it is pertinent to the experience of trading and this blog. Click here to read it.

The New York Stock Exchange opened up a little slow this morning. I guess it was saving all its energy for when it wanted to obliterate all the longs towards the close. I mean, 400 negative ain’t so bad when you look at all the volatility that’s been happening. That’s like, just another day at the office, if your office is a zoo and you are cleaning the lion cages.

I was hoping that I’d get a decent day given that I totally sh*t the bed yesterday. It was ok, but it wasn’t those earth shattering days that makes me want to pursue this business into my twilight years. I doubt that I’d make it to that point anyway given how much I can’t stand doing this. Anyway, enough of that. So I didn’t trade assets this morning because I didn’t see anything that I wanted to take a chance on. Wheat, OJ  and Currencies just didn’t have that “it” factor to them that would compel me to risk capital so I just let things go and waited for the cash open. Trading the open was ok but because things weren’t their usual hysterical self, I wasn’t able to get a good read on the markets much less get in there with size. I found myself trading against an early deficit and it just controlled my risk management and pace for the rest of the morning.

By the time I logged off my system, I was really grateful that the day was over. I wanted to make more money, mind you but sometimes, there’s just nothing there and the best thing you can do is just sit back, wait for tomorrow and watch reruns of Friends while vegging out on the couch. I am grateful though, seriously, that I didn’t lose money. I felt like I had been shrunken to the size of a quarter and put into a baby’s diaper yesterday after looking at my PnL. I really wanted to go aggressive today but that’s just how things work out. You’ve got to wait and you’ve got to be patient. Speaking of vegging out, I don’t know why but I am really sleepy again. I’m gonna go and take a damn nap.

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3 thoughts on “Glad I Don’t Trade The Close

  1. I enjoy reading your blog, you are one of few retail traders who still have the fortitude to continue plodding/blogging away through the grind we call trading for a living. I’m suspicious of any trader who claims they can profit consistently for a living. To clarify, I’m talking about profits paying for the mortgage, cars, and general lifestyle that doesn’t involve sleeping on a couch by choice. As I take the time to plan my entry back into the ring, I personally plan/hope on being right for the next big financial move, I suspect that will span a period of 2-3 years. God willing, I can claim a decent profit I will move into a more secure/safe investment strategy; definitely not day trading into my retirement age.

    Liked by 1 person

    • thanks Trin. not gonna lie – there have been times I was thinking about doing the “teaching” bit but i suppose it’s only for those that are really really in desperate need for income. i certainly don’t entertain anymore idealist notions about the business but I suppose that if it were easy, nobody would be doing it and the money wouldn’t be all that big.

      Like

      • It’s very rare where this is means of earning/making a large sum of money without either years of dedication and hard work, i.e. a degree, a managerial position, or an amazing rebounder/jump shooter who’s headed to the NBA.

        I won’t knock teaching, I know I have before, trading is a kin to gambling, something else I never said before. Trading involves levels of risk and the chances of managing the risk in the longterm is not likely.

        Luck/chance is inherently apart of trading, unlike a 9-5 job.

        Liked by 1 person

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