1/4 oz. is nothing....they wouldnt have hanged you for that....you wouldve only got maybe 20 or 30 years. There is a book called 4000 days about a man who spent that much time in a thai prison for smuggling (heroin i think) Man, it sounded so much worse than any hell hole you could ever even imagine. I think even Pablo Escabar would think twice about smuggling drugs in that country after reading that book.
Placed a large spx credit spread order...buying versus selling...and was down over $500,000 ln the am...by the end of the day...I traded my way to only being down $32,000...
reply to: Back in 2001, as a newly minted CTA, I made my first trade in the Schindler Trading Program. It was an exciting day for me and I wanted very badly to make my first couple of investors some money and to start what I hoped would be a profitable track record. My systematic strategy had me go long the e-mini Nasdaq futures. It was the afternoon of September 10th. Aaron Schindler Schindler Trading ,..... Definitely not dumb. These are the things a trader would do again, and again, until the strategy started to become unprofitable as a whole. five8s
This is my worst moment. A few years back when i started dating this very nice girl, we planned to have dinner at my place and such. That day i hit the gym hard, so i downed a HUGE protein shake. A few hours later it hit me hard. To make a long story short, when i was making dinner, she sneaked up behind me and hugged me, and from the hug came a MASSIVE FART! and i mean MASSIVE!
Back when I was trading YHOO many years ago I was long 1000 shares and wanted to exit at 170. By mistake I entered a market order to sell 1000 at $17 and it filled instantly. When I got the electronic confirmation back it said 1000 YHOO sold at $17 for a total of $17,000 proceed. I almost had a heart attack after realizing I had just lost 153k from being stupid. So I called up ETRADE to see if I could get the trade busted and after being on hold for what seemd like hours , the guy started laughing at me and said, you got a little price improvement on your order and it was executed at 169.95 To this day I still have the paper confirmation of that trade to remind me of how stupid I was for not double checking my order.
You weren't the only one. I had been trading options for a little while and was doing pretty good and I got the bright idea to step my size up and buy $3500 worth of calls and hold overnight for the first time ever. I bought the calls on Sept 10 and learned a very valuable lesson the next day.
It's funny how stories get exagerrated over time. I am not flaming you here; I remembered your YHOO anecdote and searched for it. Still a good story, regardless of the PnL: http://www.elitetrader.com/vb/showthread.php?s=&postid=385784#post385784