Monday, March 14, 2016

Slow Times

It is days like today which remind me that you cannot have a daily profit goal.  That is death for the trader.  You are not on salary.  Don't try to make money like a salaryman.  January and February were times to make bread.  This month is the time to step off the gas and take a breather, relax, and decompress.

I was on full throttle in January and February.  I took advantage of the opportunities at hand by working harder.  I have gotten lazy this month because the opportunities aren't there.  It has been a time to relax and recharge.  You can't go full throttle 12 months of the year.  You will go crazy if you try to.  It is days like today where I can do a little research, crunch some data, and not think about any trades for the day.

Learn to enjoy days like today because they are low stress.  You won't make any money, but you won't have any headaches either.  Tomorrow should be interesting in the Tplex.  I have a feeling that we are close to the uncle point in interest rates, and there will be some puking tomorrow ahead of the Fed meeting Wednesday.


shzhning said...

Okay it's detrimental to have a daily profit goal. What about fixed goal for individual trade? Do you know before putting on the trade how much to target for?

Market Owl said...

Sometimes I will have a profit target, sometimes a target holding period. Depends on situation.