If there is one thing I hate, it's eroding profits. I was short MTG at 9.55, which was a brilliant price. I was looking for at least 8.8, most likely 8.5, and set a buy cover order for a take-it-if-you-can-get-it, but rational exit at 8. The homo sells off nicely today, has a big squeeze, then fades that, another smaller one to pay homage to the first squeeze, then fades that, then on strong volume, goes downtickless eod for no reason. I got squeezed out about above my initial target at 8.89, which means I would have been better off setting an exit for my unaggressive initial target of 8.8 and walking away, let alone my nice middle target of 8.5. It made me scream expletives at my phone. I made a decent 6.9% in 4 days, but I still feel punked. I call trader abuse on that one. What pisses you off most in trading? Wilt
Yes, I wish I could have gotten in on some FFIV shorts after earnings. Buying calls on AAPL after Steve Jobs took leave would have easily doubled a few hundred grand...Doh, got to live with it, daytrading is not my bread and butter thanks to HFT. Wilt
All this talk about HFT is FUNNY. HFT only effects price on ranging days and illiquidstocks. it sometimes helps your position by frontrunning the actual market (if you are on the right side). word I am looking for is Adapt.