The New York Stock Exchange traded well this morning. Of course, this all depends on whether you are long or short the market but for my purposes, I was able to make money on both sides of the dynamite stick and I did it with relatively low risk.
The day started off with Feeder Cattle where I pretty much went 3 for 5 on my trades with one of the trades really giving me a nice cushion going into the opening bell in New York. Moving over into the indices, I only traded the Nasdaq today because I wasn’t quite sure of my mental bearings with Dow futures. There was enough movement in the Nasdaq where I could square up with size. Not max size mind you, but good enough size to help in small moves. In the end, I made out pretty decently given the fact that I didn’t spend all that much by way of relative commission. This is what I mean by beating business costs meaningfully. You can have a green PnL at the end of the day but if it took you an absurd percentage of that PnL to get that green number then you’re just a day away from losing the time you spent on that trading day. That’s why, for myself, I need to get green numbers but I also need to do it in a commission conservative way so that I can stay in business.
I’m thankful to God for today. Even though it was a rough day and I have a problem at the house that makes me want to go ape-shit and destroy everything in sight – I still am living well. I just hate it when problems like this arise and screw me up for the rest of the week. It was my fault and my stupidity so now I have to fix it and make it all right. It doesn’t have anything to do with the wife or anything so don’t worry. It’s a house issue.