iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
21,907 Blog Posts

GETTING CHOPPED OFF INTO FUCKING PIECES

Basically, I have no idea what I’m doing today — long and short long and short — I am fucking grinding myself into flour to be baked and eaten by gluttons much smarter than me. If only I sold everything at 9:32am, I’d be sitting pretty now. But instead, I bought the open. Got raped, sold. Shorted — didn’t cover fast enough and now here I am both long and short in an incomprehensible amalgamation of nonsense designed to ensure losses.

I was +50bps and then flat. I worried a bit.

Then I swooned lower to -70bps after I bought open. That didn’t work so I did a little of this and that and next thing you know, slowly but surely, no matter what I did, I lost 10bps per hour all day long. I tried long oil, short biotechs, long SAAS, long volatility. It didn’t matter what I did because in the end, I was due to lose 10bps per hr and now sit with a fairly sizable loss of 1.65%.

I am tempted to do something big, but given my recent track record I will only make things inexorably worse.

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2 comments

  1. flea

    At least you’re honest – priceless!

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  2. cmj

    Likely caused to me joining your sub today. You can pay me a handsome bag of gold to leave and all will be back to normal.

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