Whipping Post

general-william-tecumseh-shermanThe New York Stock Exchange had their moments today but it was an overall “eh” kind of day. Actually, I misspoke – it wasn’t an “eh” kind of day as it was an “eh” kind of morning. Today was meant for those that were patient enough to hold. It didn’t mean though that there weren’t opportunities in the open. Au Contraire, Mon Frere there was quite the abundance of perching points by which to get off some pretty good trades provided you went into them with size. After 2 or 3 trades figuring out that this was going to be a lumbering march of a session, I fired out size trades for the remainder of my time.

The result of my cash open trades was a sweet sweet green hue of a PnL. It was like a green papaya, lush and amazing looking bearing fruit that couldn’t even be described in taste. I actually do not know what green papaya taste like and for all I know green papaya is probably not ripe and harmful to your stomach if eaten raw. Now that I have taken you to the heights of my bliss trading the cash open, I shall take you to the low troughs of the dark valley. While I was celebrating this amazing, and much needed outlier of a cash open performance, my eyes immediately darted to the open trades window. “Ah, I have an open trade in the Nasdaq”, I thought. But no….

I had traded Wheat earlier on today and had gotten a solid gain from a handful of trades. The problem was that my sell order was for more than the actual contracts I traded on the last trade resulting in a short position that I had held for an hour and a half unbeknownst to me (I have no idea how it slipped my sight or how I inputted the closing contract number to be what it was, none at all). What was a beautiful and tropical lush total PnL was reduced to the cold and barren tundra of losing half your gains for the day – probably even more. I closed up the trading station for the day. Of course, this was after I phoned the trading desk asking if I had any more open positions.

I still have a lot of blessings to be thankful for. After all, I didn’t lose money, I just propelled myself into the Mount Olympus of stupidity. There’s always another day and again, there is more to me and my life than this dumb business. I can’t get today back, but I can concentrate on being professional and decent. Tomorrow will be better.

These are the things that I thought while trying not to lament my choice of career. The only thing I could do was to get into the truck and surprise the wife with some coffee and pastries at work.

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2 thoughts on “Whipping Post

  1. I’m sure without doing in study or peer research that 100% of traders have fat fingered a trade or two. I have my lot size and target and stop automated, I don’t trust myself to add a stop 100% of the time immediately after entering a trade, hence the automated target and stop. I hope you and the Mrs. continue the honeymoon phase for many more years to come!

    Liked by 1 person

    • Thanks Trin! I wish I could say that fat fingers are a trait of the young and brash, but they are a fixture in the old and grizzled as well LOL. Have a good weekend buddy!

      Like

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