Look, worldco is a business run by businessmen, and when things aren't working well, they need to take action. I was actually surprised when they were not getting rid of some traders. From a competitive standpoint, I am more concerned now that they are doing what many other firms have been doing, and is getting rid of non-performers. Hitman, it's moves like this that give you and worldco a much better chance at success.
Of course I do, I am in no way saying anything negative about worldco in my statements, quite the contrary this time.
Execution errors galore as I really lucked out on this one. Spoke with her last night and while she is busy over the weekend, just her voice gave me a much needed lift as there is no better music to my ears. 21300 shares each way on 14 of 26 shooting, +872 before commissions, +396 after, 2 bullets. Finished the week +2444, but once again the weekend will be hard to swallow as she has been extremely busy with her school work and any extra time will be reserved for her prince. One game left in the pay period on Monday, with a $4000 lead I need to close this out strong. The good news is rest of the team is finally on the same page, as looks like I will be able to keep the guy going to medical school until August. He had an outstanding day today, and hopefully he will be able to end his career here at Worldco on a high note. Pre-Market: Totally missed the energy news today, incredible opportunity missed. 9:30: Filled on MER first print, tried to lean on the offer at .70 but he gave me .90, so instead of 30 cents I got just 10 (I don't think I would have held with him showing an 100K BID at the figure). Got 25 cents from TGT (again, hard squeeze erased 14 cents of my profit). Lost 18 cents in ABT. Made 5 cents in TYC. 9:35: Bulleted BEN/PPG and immediately I see why I have been avoiding wasting money on bullets as futures squeezed hard. Broke even in BEN but churned away $90's worth of commissions including bullet cost. PPG I churned at first but got a nice 50 cents later. Unfortunately I accidentally sold PPH and just happened that it is a holder and requires no upticks, I was filled at 90.52 for 700 shares with no offer to get out, as soon as he lifted the offer I covered at 90.76, talk about throwing money in the toilet. 9:50: Tried bottompicking BHI / EOG, lost 25 cents a piece. PPG just squeezed and at that time I was down $450 again, the same amount I was down this time yesterday and it was tremendous pressure on me to come out and prove to myself that yesterday was nothing more than a fluke in not just a winning streak, but a truly consistent trader. 10:00: I prayed to her and thankfully my offense clicked again. Futures ripped and I got 30 cents from LM on broker move, 20 cents HOV and 30 cents MHO on home builder move. 50 cents MTD on "bitter sweet" Tony Oz reversal. A long sigh of relief as I was right back in it. Futures tanked and PPG short worked and I was finally up for good. 12:00: Bottompicked DO, NBL, KMI, BR, EOG, EP, DYN on what was an energy bounce, underestimated the strength of the move and left substantial money on the table with DO but got out of others at acceptable prices. 2:16: Bottompicked APD for 20 cents but he poped wildly in the end. Bottompicked WY and churned. Cyclicals and chemicals did a decent squeeze and I was able to get another 15 cents from PPG. Churned EMN. Auto parts ran and I churned BWA. Tried to bottompick AHC and got just 10 cents. Very choppy, and I knew I was not going to make back what I lost yesterday, but that wasn't the goal to begin with anyway. Team Stats: 9 of 9 active traders 128300 shares each way on 47 of 89 shooting (53%) +4588 before commissions (8 of 9 positive) +1661 after commissions (7 of 9 positive) Top 3 Symbols: CPS, SBC, KMI Bottom 3 Symbols: AHC, APA, AMR
Originally posted by Don Bright it's moves like this that give you and worldco a much better chance at success. I ve been with worldco for 4 months now.Today, 4 of the 8 people in my orientation class were let go,thankfully,im net positive,so I havent had to deal with that yet.There is no question that dead wood needs to be removed every so often.Business is business after all. What irks me is that when we were recruited ,we were told it would take 6 to 9 months of losing money before we learned enough to make a living.I personally know of people less than 2 months at the firm that were let go.How fair is that?Im scared to make a trade now for fear of losing money,lest I be the next one to get a phone call.I cant speak for the rest of the firm,but my group was totally demoralized today.Oh well,time to get the resume ready again.......... Q:How do you know when a worldco recruiter is lying? A:His lips are moving