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It was one of those great trades where you enter and it doesn't even go 1 tick against you, screwed up the exit in that i saw a big profit so took it even though i like to hold overnight at least...not good when a perfect trade is bungled like this.

i bet a (small) farm on the demise of the june bund today...exited a little early though.

Nice one, David!

how do u pay bail if all your assets are frozen?

Corrected for you.

when , today? lol nice call on pound btw, do you still have it? looking to go long nikkei myself,maybe monday, we'll see.

if you had 20 farms of same size, then risking 1 is 5%. The expression 'Betting the farm' doesn't seem appropriate anymore !

how is he in trouble with the uk tax authorities?

this is who he sent the letter to https://uk.linkedin.com/pub/joanna-jasina/45/573/732 anyone believe that she would have a clue as to what he's talking about? she sounds like a glorified secretary. really feel for this guy. he needs a powerful hedge fund to represent him and back him up...

It means that you would rather be right than make money.

http://www.bloombergview.com/articles/2015-01-23/high-frequency-trading-spoofers-and-front-running John Arnold (centaurus) says spoofing keeps markets honest.

He needs to raise bail and then run, not walk, to the Ecuadorian embassy here in London and request asylum (see Julian Assange). Probably only chance for him to escape the wrath of the Empire , ooops i meant the USA.

http://www.telegraph.co.uk/news/uknews/crime/11557755/Flash-crash-trader-Navinder-Singh-Sarao-sat-on-27m-fortune-while-his-mother-worked-two-jobs.html

i would rather back a trader who makes me millions every year and has losing months than someone who consistently makes 1000 dollars every day.

anyone tried shorting cash bonds before?

I don't understand that, if the price of these bonds keeps going higher and you are leveraged short, surely your broker will issue a margin call against you???

thanks, i was using 0.2 instead of 1.2 in my calcs, haha i find edge divided by net return to be easier to calculate...so it would be 0.1 divided by 1.2 (i was using 0.2)

Kut2k2, what is the kelly fraction for this bet? The 12 for 10 one. I calculate it at 50%, which doesn't sound right.

Admitedly, I still don't see how putting in a ton of sell limits crashes a market...but if the exchange was that concerned it could have simply charged him a dollar per contract for unfilled and removed orders.

I must say that I really do feel for this guy despite my sniggers over his rather frugal lifestyle (i.e. 3 bed crap semi house and beat up green car). Must be going through a terrifying ordeal.