'Fess up - who got blown out yesterday???

Discussion in 'Trading' started by tomcole, Jul 8, 2005.

  1. tomcole


    All the posts since yesterday say the traders made buckets of dough. From reading the comments, and the accompanying analysis, it is my humble opinion, that the term,"..I could have or should have..." needs to be injected for many of the posts here.

    I simply dont believe all or most of you made real money yesterday. Is this site about wanna-bes, or does no one here ever lose money?

    As for the trades supposedly made around 5AM, I started a little after 4AM EST and can tell you that only the bonds had liquidity and even that was limited. The news was on the wires a good 15 minutes before TV and even then the TV folks were saying it was an exploding power cable or some nonsense. Until the bus news hit, no one was getting crazy.
  2. LMAO

    Dude, I should have been blown away, trading cable long and getting caught directly in the 250-point downdraft.

    I guess my system is relatively death-proof (key word there being relatively. :)) though I've been supplying a good amount of blood for the UK victims... if you know what I mean.

    (sorry, guys, I been trading forex all night *yawn*)
  3. nitro


    Let me break it down: I trade NYSE and NASDAQ by discretion, and I trade SIFs 100% by computers.

    In my personal trading, I wanted long the whole of the early morning. I went long CAT, WMT, GE and MMM, wanted long IBM but could not get long it because of margin constraints. My positions almost immediately showed gains, then was slowly shaken out and took small losses as I misread the tape when NQ made a new low and prematurely exited my positions. I never recovered (I should have,) and most of the stocks I owned soon went ballistic and had multi-dollar gains.

    In my automated trading, I had a very good day.

  4. i bought stocks in the premarket and had my best day in months.
  5. Xenia


    Yesterday those EUREX MMs simply stopped their quote machines (for options on DAX and GBL). This could have been a real desaster (for my account), but fortunately markets decided to rebound. And even EUREX MMs decided to turn their machines on again. Now I am working on a emergency plan what to do next time (when there are no option quotes no more).
  6. The only "shoulda coulda" I had was holding on to ANF until the close. I let go at 1010 hours. Made a grand and I finished for the day.
  7. Payrolls about to come in so I have time to type this :)

    Didn't go bust yesterday, just lost enough to be annoyed. I had STIR spreads on with stop limits as failsafes. Bid-ask went through them, market didn't trade, my stops weren't elected. When it did trade and my stops did get elected, the market was 4-6bp on the wrong side of my limits. In the past that didn't happen, not even on surprise central bank decisions.

    Since the difference between being filled at those levels or at my limits was the difference between being annoyed and being very very VERY annoyed, but not catastrophic, I decided to hang in there.

    My limit orders got filled at my expected maximum loss later in the day.

    Obligatory "woulda": If I had had outrights on I would have thrown in the towel much earlier.
  8. =======
    Far as regular market hours, at the end of day;
    cut a smaller loss in downtrend QQQQ
    profits ride in SPY related & homebuilders./bull market.:cool:
  9. My DD increased by 2% to 9.1%.
  10. Yesterday I was very busy in the early a.m. as my futures positions were triggering alarms at my home computer. I was a little over 70% short in the es and I was holding just under 30% longs in the es with the system I use. At the lows of the morning my ratio was down to about 58/32 shorts to longs as the long side was gaining positions and the short side was depleting at profit targets. By the end of the cash session I was back to about 70/30 shorts to longs after the long side hit profit targets and the short side was building back up. I had a very good day yesterday mainly due to the double move-----one down and one up. I had about three or four weeks of profits in one day with this system yesterday and that has never happened before.
    #10     Jul 8, 2005