Monday 11 October 2010

Pure frustration all day

I was sleep deprived and the markets were frustrating for everyone but not only that I kept being first in line to get filled and then it wouldn't trade through me time and time again. Every time I lifted the last 6 on the bobl it instantly went 300 offered and took out the bid, sigh. It felt like I couldn't do anything right but it was more to do with people squeezing you into taking prices you didn't want. I did feel like I read the market well today, I bought the euribor on the low and made some outright trades which would have gone my way had I not scratched them. So I am realising sometimes I just need to wait and not be eager to scratch just because one guy needs to get out or has a different opinion and makes my position look bad for that moment. I scratched my euribor at the right time and legged half a tick on the schatz which I did because I thought the euribor was a clear buy I also held my schatz even when the price below was taken out because I couldn't see how that price would go offered, I guess today was just a very hard day to make money, the TED just drifted up and the fly drifted down, all prices flipped and squeezed you. This normally happens on days where there is little news due, like today.

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