Happiest memory (thus far) of trading?
- Thread starter pinetboltz
- Start date
*far* into the future. THAT is a kick.
lol, that sounds rather nebulous
Any time that I have been working on something, found it (even mildly) successful, and then looked into the future and perceived how that newly-finished work product would increase the trading profits or their stability -- *far* into the future. THAT is a kick.
I haven't yet had this feeling. But I'm aiming for it.
I've had so many, but usually met with something sour to match the sweetness
Happy: Getting hired into a prop group for the first time in 2005
Not So Happy: Seeing there are no big secrets handed to you on a plate, you have to work hard and learn from the right people
Happy: Having my first edge and knowing i will come in every day and make money.
Not So Happy: The fact edges go and when they're gone you're back at ground zero and have to build everything again.
Happy: My best month was 100k, even though that wasn't my net pay after costs and profit split was a huge milestone
Not So Happy: Losing 20k on my first day at a new firm!
There were so many more, the financial crash of 2008 stands out though, to be at the center of a major political/economic event and watching it all unfold and be involved was an adrenaline rush ive never felt since. People were becoming millionares in a week, and losing everything too.
Happy: Getting hired into a prop group for the first time in 2005
Not So Happy: Seeing there are no big secrets handed to you on a plate, you have to work hard and learn from the right people
Happy: Having my first edge and knowing i will come in every day and make money.
Not So Happy: The fact edges go and when they're gone you're back at ground zero and have to build everything again.
Happy: My best month was 100k, even though that wasn't my net pay after costs and profit split was a huge milestone
Not So Happy: Losing 20k on my first day at a new firm!
There were so many more, the financial crash of 2008 stands out though, to be at the center of a major political/economic event and watching it all unfold and be involved was an adrenaline rush ive never felt since. People were becoming millionares in a week, and losing everything too.
I'm at IB: all the fancy-ass aps on other platforms? On IB, you make it by hand, or you go without. (OR, you swap out $10k and ship it over to ToS, eTrade, etc., until that no longer does the job...) Bottom line? *Lots* of "Heyyyyy! Look what I built!" moments are possible.
I'm at IB: all the fancy-ass aps on other platforms? On IB, you make it by hand, or you go without. (OR, you swap out $10k and ship it over to ToS, eTrade, etc., until that no longer does the job...) Bottom line? *Lots* of "Heyyyyy! Look what I built!" moments are possible.
So true.
interesting perspective, just curious:
- after your best month, did you feel like it could be replicated? or did it seem like a 'perfect storm' in the markets where everything had to be aligned?
- the people who made it in 1 week/ lost it all in 2008...what are they up to nowadays?
In 1999 I started to use a new software package called LeoWeb. I thought it was so great because I did not have to talk to an order desk to place an order. Also my commissions started to fall from $30 a ticket.
I was sure the market was going down and I filled in the LeoWeb with the order info to sell at the market 1 S&P (large contract).... LeoWeb beeped and a quick look at the screen I thought the error was I did not have the date correct, so I quickly added another "9" to the screen. Send it! In seconds orders started to arrive.
1 FILLED AT XXX
2 FILLED AT XXXX
1 FILLED AT XXX
4 FILLED AT XXX
.
.
I looked at the order and saw that my order said SELL 19 S&P MKT!!!!
Holly shit..
I hit the speed-dialer and called the OBrien trade desk....
"IN ACCOUNT 434333 BUY 19 S&P AT THE MARKET!"
The trader repeated the order back:
"IN ACCOUNT 434333 BUY 19 S&P AT THE MARKET!"
YES!!!!
"I am sorry, you don't have enough buying power for even 1 contract...."
"I NEED TO GET FLAT RIGHT NOW!!! I AM SHORT 19 NOW. GET ME FLAT!"
"But you don't have the buying power, how can I do this???"
"LOOK ASSHOLE, YOU SOLD ME THE POSITION JUST SECONDS AGO. MY BUYING POWER DID NOT CHANGE..."
Desk: "WHAT ARE YOU FUCKING STUPID!!!!!"
"YES, I LIVE IN MY CAR --- HAVE NO MONEY -- AND IN ANOTHER MINUTE Obrien IS GOING TO BE SHORT 19 S&P BECAUSE i AM GOING TO HANG UP!!!!!"
The desk trader looked at my account...
"IN ACCOUNT 434333 BUY 19 S&P AT THE MARKET!"
"YES! FUCKING BUY THAT BITCH!!!!!"
"YOUR ACCOUNT IS NOW CLOSED"
1 FILLED AT XXX
2 FILLED AT XXXX
1 FILLED AT XXX
4 FILLED AT XXX
.
.
It took much longer to get out than to get me in. In minutes it looked like I was flat. I called the trading desk several times to check and double-check that I was flat.
I sat in my chair for 30 minutes without moving anything.
I thought I was ok, it looked like orders matched ok, but I was not sure.
The market closed and my account balances were updated.
19 CONTRACTS SOLD AT XXXX; 19 CONTRACTS BOUGHT AT XXXX;
When my contracts hit the market there was a short wave of selling which took the prices down.
I called to cover immediately.
The prices hit support and did a vertical climb straight up; it would have killed me.
My P&L for the day was a positive $3645!!! All took place within minutes start to finish. The best trade I had made since I started trading.
I am sure there was a software bug in LeoWeb that allowed me to trade 19 contracts and then not let me exit the position...
Happy memory indeed---- it could have been very different.
I was sure the market was going down and I filled in the LeoWeb with the order info to sell at the market 1 S&P (large contract).... LeoWeb beeped and a quick look at the screen I thought the error was I did not have the date correct, so I quickly added another "9" to the screen. Send it! In seconds orders started to arrive.
1 FILLED AT XXX
2 FILLED AT XXXX
1 FILLED AT XXX
4 FILLED AT XXX
.
.
I looked at the order and saw that my order said SELL 19 S&P MKT!!!!
Holly shit..
I hit the speed-dialer and called the OBrien trade desk....
"IN ACCOUNT 434333 BUY 19 S&P AT THE MARKET!"
The trader repeated the order back:
"IN ACCOUNT 434333 BUY 19 S&P AT THE MARKET!"
YES!!!!
"I am sorry, you don't have enough buying power for even 1 contract...."
"I NEED TO GET FLAT RIGHT NOW!!! I AM SHORT 19 NOW. GET ME FLAT!"
"But you don't have the buying power, how can I do this???"
"LOOK ASSHOLE, YOU SOLD ME THE POSITION JUST SECONDS AGO. MY BUYING POWER DID NOT CHANGE..."
Desk: "WHAT ARE YOU FUCKING STUPID!!!!!"
"YES, I LIVE IN MY CAR --- HAVE NO MONEY -- AND IN ANOTHER MINUTE Obrien IS GOING TO BE SHORT 19 S&P BECAUSE i AM GOING TO HANG UP!!!!!"
The desk trader looked at my account...
"IN ACCOUNT 434333 BUY 19 S&P AT THE MARKET!"
"YES! FUCKING BUY THAT BITCH!!!!!"
"YOUR ACCOUNT IS NOW CLOSED"
1 FILLED AT XXX
2 FILLED AT XXXX
1 FILLED AT XXX
4 FILLED AT XXX
.
.
It took much longer to get out than to get me in. In minutes it looked like I was flat. I called the trading desk several times to check and double-check that I was flat.
I sat in my chair for 30 minutes without moving anything.
I thought I was ok, it looked like orders matched ok, but I was not sure.
The market closed and my account balances were updated.
19 CONTRACTS SOLD AT XXXX; 19 CONTRACTS BOUGHT AT XXXX;
When my contracts hit the market there was a short wave of selling which took the prices down.
I called to cover immediately.
The prices hit support and did a vertical climb straight up; it would have killed me.
My P&L for the day was a positive $3645!!! All took place within minutes start to finish. The best trade I had made since I started trading.
I am sure there was a software bug in LeoWeb that allowed me to trade 19 contracts and then not let me exit the position...
Happy memory indeed---- it could have been very different.
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