Accomplishing areas that others said I should never do or can't be done profitably. Keeping an open mind has lead me to discover nuances that I have never read anywhere, but most likely done by others.
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.
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.
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?
Making 5 figures in a day and knowing why. That was when I realized it'd be worth the market tuition to learn how to do it repeatedly.
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.