I felt really detached from the markets today and I think it all started with the amount of sleep I didn’t get. Upon moving to the West coast I was glad that my trading day would be finished at 1:00pm, thinking I would have all this free time after the close. That was until I realized that my trading day began at 6:30am. Being a night owl and a trader doesn’t always mesh, so it’s important to get the proper amount of sleep so I don’t sabotage my trading throughout the morning. I even know some traders who won’t drink caffeine during the day because they feel like they lose some of their edge. In fact, I’ve read that on the trading floor at the NYSE there is a no caffeine rule enforced. I don’t go so far as to eliminate caffeine from my diet during trading, but I just found that bit of info very interesting.

I’m not sure if I was just on the wrong side of a few trades today or if I let my bad habits get in the way of my trading, but I felt like the market scared me out of a few positions that I’ll want back tomorrow. Maybe it was that during the nap I took, my portfolio shifted far more than I expected. Today’s drop on the indexes doesn’t seem so bad when I view the charts after the close, but when I was checking my account balance near the close, it seemed bad enough to shake me out of my positions. I think the worst part was that I got forced out of my trading plan. I didn’t give the positions enough room to breathe and I got spooked. Hopefully the jobs report will validate my hasty exit of the markets.

 

 

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