PIRATES OF THE CARRIBEAN

I watched this page this morning and the more I watched, the less I saw to trade. And trust me...I wanted to trade something. It's like an addiction, and when trading becomes like an addiction, LEAVE.

And that's exactly what I did! Pirates of the Carribean II...good movie.

Anyway, I wish I could do it more often, leave work, that is, but it's hard and usually there IS something to do. But on my way back to the office from my 9:00 showing, I was thinking this: I made a great trade on Wed. where I took the S&Ps from 127600 to 126400. That's 12 dollars on a one lot. I did add one down the road and made roughly $850. On pretty much a 1 lot! That's amazing. The problem is, I try to do that all the time. I press and I press and I try to force trades that aren't there. I wanted to just make some money this week. Maybe a measly $1000 (and believe me, when you are trading, the idea of making $1000 in a week seems pointless.) But by trying to make that kind of trade everyday, I ended up losing most of the time instead of waiting for the trades to present themselves.

Believe me, I can make 4K on a trade, but I can also lose 5K. But when I am more controlled, and wait for the trades, I might only make $500 here and $300 there and a random $12-15000 there. By waiting, my week ended up about $1200. Not great...not enough to even live off of in Scottsdale, AZ...but believe me...when the market is crappy, and you are forcing trades, making anything is better than losing $1.

This is a great segue into what TRADING ON THE FLOOR OF THE CME was like. I was requested by 1 of the 3, YES THREE! readers of my blog to talk some about that....

I knew lots of traders in the pit who were big shots. They traded 10 lots in the SPOOS...they traded 20-50 even. And when they did well, they did well. But lots of times I would talk to them and they would be down $100 for the week or up $50. Point is, these guys were risking SO SO much, and making no more than I was at times. I just didn't get that risk/reward ratio. Lot's of those guys are not trading anymore. It's better to be small and consistant and wait for "sure things" (and by that, I mean trades that are at least stacked in your favor) than being a lame BSD.

More about pit trading later...It's friday and I am up!

Andy

P.S. My wife is working with me on my delivery...I know I ramble and make stories too long...it's from my mother!