Showing posts with label offside. Show all posts
Showing posts with label offside. Show all posts

Tuesday, 19 April 2011

Bad luck, stress and huge positions

Gawd my head aches.. yesterday I was up 370 euros with minimal costs, went to the local shop came back.. saw the spread was on its high, sold the euribor, 2 seconds passed I didn't lift the schatz because there was no need, then... the US was given a negative outlook I was just short euribor outright and it climbed and climbed, I clicked buy, everything jammed and I couldn't put any orders in. 2 minutes passed and I was finally able to buy and bought it near the top of the initial move. I blew my day and was now reasonably negative, I was frustrated and sold the spread where I intended, sold it 1/2 tick higher with full size instead of half the size out of frustration. It's crazy what happens to me in these markets what more is there to say. I seem to be gifted at putting a position on seconds before unexpected news or big stops.

The spread moved up further and I went to sell another spread and bought the bobl which then instantly fell 4 ticks, the most extreme move in a couple seconds I had seen since returning over a week ago and doing 14 hours a day! I sold a price so low it was ridiculous, I sold the original spread and got 1 lot out of 10 and missed the next price too. I was printing down just under -1500 euros. I decided my stop for the day would not include the money I lost on the news as it would just mean I get stopped out too often. I brushed past my stop very slightly and held maximum size overnight.

The next day the 2nd spread I had sold was printing 20 ticks higher and I was feeling numb, but luckily it didn't open that high. But because of this I missed an opportunity to get out of my massively offside position. The opportunity lasted seconds so didn't feel so bad to have missed it. I got 1 clip of my 4 off and put it back on at the same price, the spread slowly came down throughout the day and I managed to get it all off. I was confused what my PNL really was as settlement prices make it complicated. I traded based on prices of last night knowing roughly what my PNL was, and early on my PNL spiked to -945 and now I have only 1 position on and it's showing +465 as I write. I believe I am quite close to scratching the two days now, a near 1500 euro recovery and a seriously stressful experience.

Update: Flat and done, up 40 euros over this two day period before costs. w00t ^^