Is anyone else finding May to be a tough month for trading equities? The NYSE feels so dead lately, just wondering if any other listed traders agree.
Quite the contrary. XOM, TOL, FNM, and AIG have been good to me during May, although FNM/AIG have slowed down last few days.
It's May 2005, should have been expected. Get ready for more like this in June. Although last May was about 10 times better than this. The last week of May 2004, I made like 5k, and the last day I came in stoned. I did good for the time I put in. Traded a little over half the days. I try to leave after 11:30 since it dies dramatically and Fridays are off limits till July.
I realize that May is expected to be slow but even during the slow months, I can still pull in at least a few hundred everyday. It seems like these days thats even getting to be a feat for me. Im only up a little over 5K for the month which is very frustrating. Anyways, just wanted to get a feel for what others thought.
Since I started trading in 2000, every year has been more difficult than the last. I'd expect this to continue at least for the near future. You need to be constantly improving your trading skills or you will get left behind.
The key to making money in this market is to be a multi-market, multi-strategy player, IMO. The edge is coming down on lots of strategies, and that seems to be the trend. OPG's are tight, MOC's are non existant, etc. You need lots of BP, and be willing to trade any strategy that will add money to the bottom line. Be aggressive in searching out new edges and adding to your strategy toolbox, that will ensure you make money in any market condition. Good trading to all! Mike
this has been the worst month I have posted all year, the sellers have taken a back seat the buyers have stepped in... no biggy our time will come, they have to sell some time and when they do, we will back up the dump truck