the lies. Goldman downgrades the drillers this am...they are the strongest sector on the board. Tell me who was short and trying to cover?
"Desperate to meet a year end profit target, Enron struck a sham Energy deal with Merrill Lynch that let Enron book a $60 million profit in the final days of 1999, according to former Enron executives involved in the transaction. The executives said that the energy deal, a complex set of power and energy trades, was intended to inflate Enrons profits and drive up the stock price. The deal was five times bigger than the Nigerian barge deal. Enron and Merrill Lynch, they said, agreed that the deal would be cancelled after Enron booked the profits, and it was. By allowing the company to meet its internal profit targets, the power deal unleashed the payment of millions of dollars in bonuses to high ranking executives, including Kenneth Lay and Jeffry Skilling, former executives said. This account was confirmed by five other former executives, who insisted on anonymity, concerned about either loosing their current jobs or being drawn into litigation over Enrons collapse. Merrill Lynch officials said there was nothing improper about the power deal and no pre-arrangement to cancel it. "The trades we conducted with Enron were legitimate transactions involving risk." Merrill said in a statement Wednesday. "At no time did Merrill Lynch knowingly assist Enron in misstating its revenues.". After meeting the profit targets Enrons share price climbed 27% by the end of the week. For its role in the deal Merrill Lynch recieved about $8 million from Enron."
this is not the worst thing about trading, but it annoys me when people in my office bitch, moan, whine, and complain about every trade that they're in or that they miss. these people like to point the finger at anything else, without realizing that it's there own ineptitude.
Amen. I don't trade in an office, but I can sympathize with this. They'll never really become successful until they quit moaning and start taking a better attitude towards trading. -Eric
if i consider all the stuff that is involved in trading - my hard- and software - brokers hw/sw - exchanges hw/sw - my connection to the broker - brokers connection to exchange - charting software - data feed - etc. - i'm astonished that it works so good for most of the time (even more considering that i trade us markets and sit in europe).
I agree. I'm amazed that there aren't more problems than they are. Bungrider, you may want to consider finding another firm, if you are having constant software problems. -Eric
Once you get out of a trade, unless you are 95% sure you are going to trade it again sooner or later in the day, it should be locked out from viewing it the rest of the day because... The worst part about trading is getting out of a trade and watching it go on for significant additional profits, ie., you got out too early. Actually, I don't know which is worse, the above or getting out with a loss only to see it reverse and score a nice move in the original direction.
The worst part of trading is when the market is up 300+ points, and every one of your friends and your family say to you "you must have had a great day". And you were short. RS7 And Hedgez is right...listening to other traders whine and bitch and moan sucks too.
The worst part of trading is when you KNOW you're right, and you are, but get bluffed out by a fako move. The worst part of trading is when you KNOW you're right , and you are, but since you got bluffed yesterday you decide to start with 100 shares instead of the 10,000 you could take, and it immediately goes to town.:eek: I hate it when that happens.