Whats the most scared you have been in a trade

[PitBull]

the most scared ive been? probably about now....

How's your position, heavily in loss?

 

[foredog]

In my imagination the most scared i've been is when i told Lex Van Dam to stop whining about a position in 200 shares of BP. (or whatever stock) because he probably had enough in his wallet to cover the loss if they went bust!

 

[zo786]

In my imagination the most scared i've been is when i told Lex Van Dam to stop whining about a position in 200 shares of BP. (or whatever stock) because he probably had enough in his wallet to cover the loss if they went bust!

Im new round here, how do you know Lex, hes the one of million dollar traders right?!

 

[ogbboy]

around xmas 2008, short sterling comes off 30 ticks in seconds... buy some... off 120 ticks!!!

 

[daystrom]

April 1987. Long silver on the NYMEX, uplimit and then downlimit in a couple of hours. The exchange was so overloaded no fills were reported until the next day.

 

[Splitlink]

Strange that you should mention 1987. I was in options in the Black Monday of that year. The brokers were not picking up the phones---they just kept ringing and ringing.

 

[CityTrader]

Way over-leveraged with a £2.5mil position in a single stock, that had a terrible write up in the Mail on Sunday 2 years ago, and the next day they collapsed 30% and in spite of trying, the only bids I could get on the way down were for such a small amount ( aprox 1% of my total exposure) that it would only have compounded my nightmare by selling...

 

[gooseman]

got my deltas the wrong way round once-didn't notice over a weekend and lost a full bund handle.

 

[rpuk]

I have had quite a few scares over my few years of spreadbetting but while I have made some losses I think the scares have now taught me to be alot more careful.....I also read somewhere along the line (market wizards??) that if you are worrying about a position when you go to bed then it is a sure sign that you should be out of that position.

Or is it just the fear of what the missus would do to me?!?

 

[BSD]

putting orders on one market while looking at the chart of another and wondering why the chart showed going into profit yet the p/l on the account was going down into red.

Lol I have that quite a bit...

I use Ninja and it's just so ingrained from my former platform that changing a chart also changes the order book so that now I have to keep reminding myself to change the DOM along with my chart haha.

 

[A Dashing Blade]

Sometime in 1990/91

Fair value in Ftse futures spread was around 23, I sold it (ie long June short Sep) all the way up to 37 a total of 100 times (this was when it was £25 per point not the pissy £10 pp it is now).

What can possibly go wrong I hear you ask.

At expiry, BZW wanted the market up, Morgan stanley wanted it down, FTSE stocks went into backwardation and the spread is squeezed up to 45 :-0 (ie this is looking like a £30,000 odd hit)

Pretty much shat myself, rabbit in headlight situation. One of my collegues seeing the woods for the trees legged out by letting the June expire and ran the short Sep for about 15 minutes coming out for an overall profit of 3 ticks on the 400 lot.

An absolute validation of the "markets can remain irrational longer than you can remain solvent" concept.