JAN 22 2008 ... a plea for traders

Discussion in 'Trading' started by SethArb, Jan 22, 2008.

  1. to share some winners and losses and the lesson learned if any ... ( ok sorry newbs ... no "secrets being given out )
    except one has to work hard no matter what and even stand aside if needed of course

    I will go first ...

    got up 4:15 am EST to see the carnage ( before the 8:20 am EST
    fed rate cut )

    was up in my usual precious metals arb - spread etc
    but had a very small position in some XAU components
    and other miners which I had taken home friday late
    for a day trade

    whoops ... joined the "sellers over" and sold most of my shares
    on the lows ... then after the "cut" tried to buy them back
    and got "cut" in my P+L after the retracement

    did make out as I said ok in my metals arb etc ...

    but instead of being up 1K or 2K am basically flat today

    whew ...

    at least I have a nice glass of bordeaux awaiting me tonight with dinner

  2. Dustin


    Lots of volatility out there...spikes everywhere like SYK WMB SHLD WB were very profitable. Got to have a good scanner.
  3. #1. Putting in buy orders for CEF's away from the market can result in supremely awesome fills - bought ADX @ 11.76 on a 12.20 bid order. As borat would say, Niiiiiiceee.

    #2. Don't get greedy. Cancelled my 97 takeprofit on TWM last evening as I didn't know where it would open. Bad idea.

    #3. Tomorrows a new day. Frequent re-evaluation probably necessary in this market.
  4. now back in the green doing arb.

    but yes ... today was one of those days where
    you did not want to be taking a dumper at 8:20 am est
    unless you were shitting green