The New York Stock Exchange traded pretty good this morning. I felt like there were plenty of inflection points where trades could have been made. The only gripe I had with it was that there were move fakeout moves than there were actual moves to get in and surf the waves so to speak. I knew, as soon as the opening bell went off that it would be that kind of a morning
With the cash open being the place where I had most of my success, my failure though was in my asset trades – Wheat, to be specific. I wanted to take more trades but I ended up killing the PnL, with size, on just 2 trades in Wheat. Normally, I’m looking to do maybe 4 or 5 trades but after suffering the losses I did on the asset, I realized that I had dug myself into a hole that the cash open could not fix. It was that, for the most part. Once the opening bell rang, I was able to secure a good PnL number but this was all on reduced size. Because of the reduced size, I wasn’t going to meaningfully beat the losses and business costs. I overtraded by maybe 2-3 trades before settling down and calling it a day. If there’s no fish, then there’s no fish.
I have other things that I need to get done today anyway so I’m not going to stress about things more than I already am. It sucks to work out of a deficit but I’m glad that I recovered all of that money with only a small amount commission capital lost. If I have a crappy day, then I want it to be a small crappy day. I am thankful that I didn’t screw up royally today given that I could have revenge traded. God’s grace made itself known and I became a more patient person where before I would really go in and throw down the hammer. I’m grateful for this and for the blessings in my life.