profile5The New York Stock Exchange traded solidly out of the gate. However, in a break with regular programming, I took a look at the market and traded a significantly smaller amount than what I usually do even on a baseline basis. The reason, as you can guess, is because I made money trading other assets. The other reason was because I didn’t feel like I had a good grip on what was going on with the open and rather than continuously risk capital and go from small feeler trades to big ones and lose, I’d rather just take whatever I have at the table at the moment.

I was lucky enough to catch a great move on Feeder Cattle. I was looking to trade it for a couple of round trips but sometimes you’ll just get a really really good move and that’s all that you need given the size and tick increment of the contract. Furthermore, I traded Orange Juice and while the moves weren’t as great there, I beat business costs by a really good margin. The cash open, afterwards, was more or less a gut call but when I saw that I was having a hard time with feeler trades, I realized that it just wasn’t worth it to try and catch something with a bigger capital commitment. Even though the market seemed to me moving fast, I just wasn’t in the right place and perception to see what needed to be done in order to make money.

It’s a really nice day out here in the East Coast. I’ve already gotten the BBQ grill cleaned up so I’m thinking it’ll be nice to pop over at the local butcher’s and get something for the wife and I later. In the meantime, for myself, I’ll probably roast some vegetables or something for lunch and have a beer. Today looks like an awesome day to take a nap next to an open window…..or veg out and play Call Of Duty. Nevertheless, I am thankful to God for such a blessing like today!

 

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4 thoughts on “Scaling Back Today

    • maybe; i’m thinking it’s also my site. WordPress does not play well with other RSS feeds. This is why I’ve been manually compiling trading blogs forever and not relying as much on the blogroll function. I got lazy with it the last couple of weeks and missed a couple of posts including yours.

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