pt. 2
I woke up at 5.
Today is Monday. It’s the first trading day of the month. I make my way downstairs to the coffee pot. A few sips in and I head out to the cold dark garage. It’s time to load the plates and put in some work before I look at charts.
45 minutes. Bleary eyed, weighted dips serve as a reminder that I am here to work today. I am here to suffer, to take productive pain as I look to build what I intend to build.
I pull my sweatshirt back over my head, refill the tin coffee cup and make my way to the desk to check the overnight action and see if we filled that open gap from Sunday night. Sure enough, we’re opening with a gap down. Time to do some work before I step out again to make breakfast for three hungry birds.
I Visualize.
I close my eyes, I take some stops in my mind. Every day is a fight in markets but the first day of the month can be special. I add to a few winners, one comes back and stops me out breakeven. I do everything I can to feel this moment, to be there mentally before it goes down for real.
A few more morning rituals and my prep is done. We open in 15 minutes but I’ve got cinnamon toast to make for those three hungry birds. Although I am ready to put in work, I have other priorities to serve first.
This morning is special for a few reasons. Not only do we have an interesting open, the temps just dropped outside. The mountain outside my front door has been frosted with snow while the trees still hold their color.
It’s easy, for grinders to be fully capable of an opportunity and miss it. Grinding out base hits and miss the chance at a homer.
Market Open
I’m not there.
I’ve done my prep, I’ve got my mind right. But I have other things taking my attention.
Not only do those three birds take priority before they go to school, we’re in the front yard looking at that fresh frosting of snow that’s fallen 5,000 feet over our heads, covering the granite peaks with a soft sugar.
A few moments later and the carpool arrives. I love you’s and see you soons are important for everyone before we all roll our sleeves up and do stuff that sucks.
At the Desk.
The first 15 min bar closes at the high, potentially bullish.
I wait. The pullback comes, I hit it long. I am immediately green on this position. +8/10 pts per contract. I inch my stop up looking for a quick move here I can hold all day.
It’s not meant to be and I get stopped out for -8.
The next 5 min bar closes and I hit it again, same idea. Again, clean first move here and I am +20 pts within a minute of entry. I have a choice, I can take the trade off and be plus a few on the day or move the stop up. Stop get’s moved because the idea of a run-away move without me on it sounds far worse than being a few points in the hole. Three more minutes pass and on the fourth, I am stopped out break even.
The Move.
The move comes, I’m not on it. Price surges up while I am flat. What can I do?
Nothing.
Fill up my coffee and see how this reacts. Trend day or rotation?
10 min later, I am sipping this coffee and watching price rip to a level. Worth a shot I figure. I hit it short. Again, the move instantly produces a positive P/L. A bit to my surprise. A moment later, I add, and again.
I am now, for the first time in a full sized position on the day. We drop an easy 30 pts in a few minutes with no look-back. I flatten the full clip.
My day is done. 66% win rate. One loss, one break-even and a nice full sized short that paid quick. What more do I need to do?
Nothing
Here’s the magic:
The work is done in waking up early. In setting the mind right. In having the equipment to engage in the moment.
Who does the real work?
Not me. It’s the market.
The market makes the move, I am just a passenger.