Whats the most scared you have been in a trade

[metals_trader]

After a discussion with another trader yesterday we got into the talk of trades that scared the life out of us.

For me it was when it was a quiet day at work and i was testing what my limits were in copper by putting orders on about ten ticks from the market, when all of a sudden something big came out and i got filled every lot i had on, which resulted in me sitting for a few minutes 20 grand offside, luckily it came back but i did have to buy a new pair of trousers.

So come on whats everyone elses trades that almost caused a heart attack

 

[minime69]

i cant pick out any particular one,

but i fat fingered a client order once that was very scary,

then i once had a 4000 lot Bor bid(my own posy) in the market just as i pulled it someone sold the 80K bid, although i did not get filled i still sh*t myself, many more loser trades.

but how about a winner,

i once bought 200 lots of brent thinking it traded like the Bor, it went 15 ticks on side could i get out, could i f*ck. took 10 ticks and still sh*t myself.

then another time i was working a eurostoxx order above the market 4X50 lots avg 20 ticks out the market got filled on the whole lot, panicked took 10 ticks profit and yet again sh*t myself.

and this one time and band camp.............only joking


thats about all i can remember, although i know there have been many more.

 

[foredog]

Short quite a few shares (50000 ish ) when a bid came out for the stock.

Happened more than once!

 

[gooseman]

then i once had a 4000 lot Bor bid(my own posy) in the market just as i pulled it someone sold the 80K bid, although i did not get filled i still sh*t myself, many more loser trades.

when was that? i had the exact mirror when someone lifted a similar amount in the front month.

 

[minime69]

when was that? i had the exact mirror when someone lifted a similar amount in the front month.

thinking back, it was a sell order not a buy order, it was the first time someone had lifted that many front month Bor in one go.

 

[luckyd1976]

Non Farm Payrolls

 

[gooseman]

thinking back, it was a sell order not a buy order, it was the first time someone had lifted that many front month Bor in one go.

I remember that one clearly....

 

[rob321]

Whenever an exchange goes down while holding futures positions.
The last time i can recall being involved in something like that was April 2004, Non-farm Payrolls.
Stops were set off 2 mins before 1.30 and i had resting orders in the bund and bobl.
If i remember correctly i was able to liquidate my bund position before Eurex crashed.
It was about 10 mins before prices were flashing on my screen before flattening my book.

Believe me, it didn't feel like 10 mins. It was the quietest the office had been.

 

[advfntrader]

holding a position the wrong way on crude during the Oil invents and seeing a few grand go down in minutes....NEVER again

 

[mauzj]

Before the credit markets blew up last year I had a good run on a mean reversion strategy. Alas something went wrong one evening and I was about 80k offside. I went to puke in the ladies' room and did not sleep too well that night. Fortunately it came half of the way back, upon which I chose to trade something else.

 

[oiltanker]

putting crazy orders through on what i thought was the demo...

and

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.

 

[Lobwan]

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 been there

 

[richi rich]

fuk tell me bout it

my scary experiances werent anything to do with size or anything (although i had a few sleepless nights when i held a position eqivuilent to £400 pounds pp on the Dow for a 2 week swing position and this was during the mess last year)

my time goes back many years when i was trading from home on my sh1tty old comp that used to freeze, i must have been 16 or 17...my mum used to come down and give me orders to do this and do that....i was like ''IM FKIN TRRAAAADINNNNNGG''

''well turn ur computer off, ur rooms still a mess go and tidy it, and go and get some milk from the shop, and on the way drop these letter in the letterbox, hurry up i dont have all day'' (she just wudnt leave)

''MTHERFUKKKERRRR im traaadiiing....im loosiiiinggg monnneeey noooww'' (b4 she came i was in in the money)

sh1t boi i felt like blowing up the house lol

and for some reason her timing had always had to be just when i entered a position - pretty much every day after school

 

[N Rothschild]

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

 

[Martinghoul]

The most scared I have ever been was 27th of June '07. Was long Jun meeting SONIA in very chunky size, MPC doesn't hike, 10bps made, everyone happy. Then made an ill-fated decision to save some bid/offer (after all this is the SONIA mkt, what can possibly go wrong with the fixings) and run the position. Half-year end, the weekly tender doesn't get fully taken up and on the 28th the SONIA fixing spikes 50bps. The next day O/N depo starts trading through the standing facility and THERE'S NO OFFERS. BOE refuses to help, saying it's not their job to help out the mkt when it screws up. SONIA fixes 100bps over for the weekend and the next two days. Trade goes from being 10bps up as a result of sound analysis to being 10bps down because of greed.

The lesson for me was to always leave some money on the table, as it NEVER pays to be greedy.

 

[profryan]

Rushed into financials when Bushes bailout bill was being voted on - a sure thing. Only just recovering from it. Don't buy and hold any more.

 

[Directional]

I got legged up in a poorly planned Eurodollar calendar spread scalp in one of the whites for 200cts i was trying to pull off over NFP a few years back... i was down about $12k in a matter of seconds, before it came back just as quick while I was still trying to figure out what had gone wrong and filled me for a crappy half tick that didnt even cover the commissions for the trade.

It was only after I was flat that I really bricked it, as the drawdown was about 25% of my account at the time and it could have been easily much worse...!!

 

[Mpoufos]

what about last year on this cumshot in the bund 100 ticks down in a matter of seconds?i skipped a few heartbeats there

 

[Directional]

So basically I've lobbed out most of my Euros at the @rse of the day, and I'm probably still sitting long lets say $150m USD/PLN in a market that apears to have an appetite for selling dollars, and that has seen my flow and knows my side.

How did the story end GJ?

 

[metals_trader]

what about last year on this cumshot in the bund 100 ticks down in a matter of seconds?i skipped a few heartbeats there

I was waiting for someone to mention something like the bund fat finger. Also about 6 months back when that fund were offloading that huge bor position