iBankCoin
Joined Nov 11, 2007
1,458 Blog Posts

No More Trading While Working

In November of last year, my boss entered my office and said that she was hearing “rumors.” Of course, I asked what rumors she was hearing. “That you are daytrading.” I admitted that I opened my brokerage account from time to time to “check things out,” and that I had placed a “few trades” while at work. I mentioned that these events were no different in my mind from someone balancing their bank account online, or bidding on an Ebay item (common occurrences in the office). I told her that I was not a daytrader. (That is true). Whether I was or wasn’t a daytrader really did not matter one damn bit as she would not know the difference between a daytrader and a pile of camel crap. I asked from where the rumors originated, and she mentioned a certain department.
 
After racking my brain for a few hours, I finally remembered going to a conference over a year previous with a certain girl from said department. During a lunch break from all the stupid seminars, we were sitting in the hotel lobby, and I whipped out the laptop and tried to get a wireless signal so I could check my positions. It turns out the hotel’s wifi was malfunctioning, but it ignited a conversation between myself and my colleague. It went something like this:

“So, you are an investor?

“Yeah.”

“Cool. My husband is into stocks. He wants to put a lot of money into them.”

“Yeah, you can make and lose a lot of money.”

And that was about the extent of the conversation. Remember, I was never even able to pull up a quote screen.
 
As it turns out, shortly after this conference, this “colleague” and my boss began kindling a relationship which was probably pushing the boundaries of professional distance, i.e., drinking and vacationing together. It became a well-traveled rumor that this “colleague” was gunning for a position in the upper echelon of the company, which would be in the office I work. Was she out for my job? Maybe, although it is more likely that she was more seeking to curry favor with the boss. I’m assuming that was her motivation when she decided to tell my boss the “rumor” that I was a daytrader. What a cunt. Why don’t you go eat a couple of fucking cheeseburgers you fucking bean pole. And by the way, try some Proactive. I mean who the fuck has acne at 30 years old?
 
Anyway, at my old blog, Trade While Working, I wrote an article titled Befriend The Network Admin. The article was sincere, as I had befriended our network admin when I first started trading at work, over 4 years ago. He has known what I was up to from the start. Let’s just say it is a mutually beneficial relationship. After my boss confronted me about daytrading, the network admin and I met out of the office for a cigarette (I don’t smoke). I told him what was going on, and he mentioned that the boss had asked if there was any trading-related sites on my computer’s history. He had told her that Scottrade would appear from time to time, and then he echoed my sentiment that he was unconcerned by this as most everyone spends time on websites unrelated to the company business. Overall, he did not seem very concerned about my activities. From his nonchalance, I deduced he was not being made to log my activities.
 
Over December I took a break from trading, for the most part, and there really wasn’t any reason to open up the brokerage account very often. Still, from time to time, I would open up the streaming quotes and watch the action. I figured it was smart to lay-low for a bit. I even tried to stay away from iBankCoin, but, as you know, the site is addictive. When I came back from vacation after the New Year, I had some positions to manage, and so I once again began opening up streaming quotes during the morning, sometimes over lunch, and then again at the close. I placed maybe a half-dozen trades.
 
Everything seemed cool, until last Friday, January 25th. The network admin came in my office and whispered, “Be careful.” Of course, I was like, what the fuck? I called him on his cell, and we created a bogus excuse to meet over at some other offices, and away from the bosses, for another cigarette (I don’t smoke). He was fairly pissed off, as he was being made, as of Thursday, to log all of my internet activity. Now the admin could certainly delete anything he wanted from my computer use, but he has a family to support, and I can’t blame him for fulfilling his obligations to my boss. We bitched and moaned for an hour about the job, discussed who we could trust (each other) and who we couldn’t (all the women in the offices who happen to be our bosses). Finally, he set me up on another computer in a remote office where I could trade, should I need to manage some position in an emergency. “Fuck them,” he said.
 
It should be obvious by now that there will be no more trading-while-working for Woodshedder. All trades will have to be entered at home before or after market hours, using limit orders for entries, and stops to manage risk. I do have the computer in a remote office where I can go in an emergency, but it is not something of which I want to make a habit.
 I tell you all this because it brings the end to an era for me, and because it will force me to re-define myself as a trader. As I will be posting all my trades, every month, you are obliged to monitor my progress, should there be any.

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36 comments

  1. boca

    Sorry to hear that, Shed. Pardon me for proclaiming your boss a complete beeyotch. Might be time to find a more amenable job where you can make the occasional timely trade in peace.

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  2. Woodshedder

    Thanks Boca.

    It’s all good. Its a good job, but times are tough, as I’m sure they are most everywhere in the U.S.

    I’ve asked for more money, and they are probably looking for any reason to tell me no.

    I plan to move on soon though, and have started looking for something else.

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  3. WallStreetHunter

    You wan’us to like take care’a dis for you?
    I know a guy who knows somebody who makes peoples kind’a disappear.

    Serious, that sucks.

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  4. boca

    Good for you, I hope you soon find something better, maybe even something that utilizes your skills in the financial/trading area.

    Meantime, have another beer, eat some roast emu, hug Mrs. Shed, life is still good even when it’s temporarily blah.

    You have to keep blogging though, I love your charts.

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  5. Woodshedder

    LOL @ WSH. Tell me, can they make a whole business disappear?

    Boca- don’t worry, I’ll keep blogging. Thanks, I’m glad you like the charts.

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  6. Pedro

    I also check the stock market very often and sometimes place trades. I hope I am not under the radar.

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  7. Woodshedder

    Pedro, make friends with the network guys or girls. That is crucial. Because I did, I still have a job.

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  8. Danny

    Shed, you should put a plate of fish inside the air duct adjacent to the vent in her office. Her office will smell like shit and she won’t know why. When was the last time somewhere smelled and your initial thought was “gosh, better check the ducts for fish”?

    Exactly.

    disclaimer: if you fish plate this bitch your happiness will skyrocket. And, you may lose your job.

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  9. Born2Code

    you may find that your results will improve when you manage your positions off hours.
    Ugly has when he had to quit day trading.
    I work for myself, but i voluntarily stopped (or limited) trading during the market hours and my results have certainly improved.

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  10. Hornsfan

    I work for a Fortune 50 company and used to run streaming quotes at work. One day the IT guy called me and told me he wanted to quarantine my system since it was the most active box on the proxy server and they thought it had a virus. I told them I was leaving for an appointment (true) and didn’t have time to deal with that today but give me a call tomorrow. They never called back.

    So, I don’t run streaming quotes on the network anymore.

    Instead, I use my Blackberry to connect to thinkorswim to monitor quotes and positions and even make a trade or two. If you have not checked it out, the tos blackberry application is really nice and will even run charts. My only complaint is that it will not update alerts, but whatever, just set those at home.

    For the $60 a month it would cost you to run the wireless service, you would have a solution that no one could track.

    FWIW – I switched to tos mid-year last year and am very impressed with their service.

    Good luck

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  11. The Fly

    Call in yo trades fool.

    What the fuck?

    The problem with you daytrading jackasses is this:

    You open up an addictive cost effective account online, which in turn gets you fired and wind up going bankrupt because of it.

    Plus, let’s not forget the myriad of bad decisions you make.

    Be a man and call in yo trades, fool.

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  12. The Fly

    Lose your job for $9.95 per trade.

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  13. JakeGint

    Own your business.

    That pretty much takes care of that shit.

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  14. JakeGint

    Fucking Bill Bellacheat.

    What a bastard.

    (I wish he was my coach)

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  15. JakeGint

    BTW — I have both, internet and a live broker.

    I keep the live broker around (even though he’s outrageously expensive) because I like to bounce ideas off of him.

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  16. Jingle Jickens

    Sorry to hear this.

    It is, regrettably, common. Check this out:

    http://www.washingtonpost.com/wp-dyn/content/article/2006/09/30/AR2006093000147.html

    And, as you might guess, there’s a bull market in narcware. Try Googling “monitor employee computer”.

    It pays to be paranoid about this kind of stuff.

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  17. calvino

    This is a shitty situation. Like the Lord said, ‘Let you without sin cast the first stone.’

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  18. Closet Daytrader

    Consider getting a wireless broadband card from any major cell phone company. This should solve your challenge.

    Cheers!

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  19. mdawsz

    Shed, good story. I’m glad to hear you didn’t lose your job. Hey it was fun while it lasted. I have my own story about trading in the office. It doesn’t end well. Fortunately my family has money so I’ll never actually have to work. Anyways, hope you can keep blogging.

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  20. cheesefries

    Shed-
    Get yourself a cell phone with internet access. Trade and check your positions via the cell phone.

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  21. DPeezy

    Yeah, daytrading and working is a tough combination.

    The PST gives me a slight advantage…get up ass-early in the morning, watch the first hour or so of the market; go to work; then during my lunch, watch the last hour of the market.

    I only get those 2 hours to make trades, so limit orders and stops are a must. And as mentioned before, thinkorswim web-based or mobile-based clients are quality.

    It also helps that my work requires a ton of network traffic (CAD on remote servers)…

    Good luck ‘Shed. Don’t let the man keep you down!

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  22. Van

    Woodshedder, that sucks. The key is to get your company to pay for a wireless card from Sprint/Verizon for “work” purposes. They are actually faster than my company network. Those make it more difficult for them to monitor. 🙂

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  23. CubsRock

    Sorry to hear Wood, however, investing/swing trading is where the big money is made.

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  24. Woodshedder

    Hey, Thanks everyone for the suggestions, except for The Fly. WTF? Phone in fucking orders? What the hell will I be phoning in about? Just to say Hi to the brokers, now here is your 30 bucks?

    For a while, I’m going to go old school Darvas style, and just place orders outside of market hours. Depending on how that goes, I might consider the blackberry route.

    My job is not such that I can keep a seperate computer out in my car with the wireless network card. A blackberry I can get a way with.

    Anyway, good stuff folks.

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  25. Juice

    When I used to trade at work, ten years ago, my boss said ‘as long as it doesn’t affect your job, no prob.’

    One day, he called me in and said its affecting my job. I told him ‘sorry, I’ll get it together.’

    A few months later, I told him: ” My trading is affecting my job, I can’t get it together. Thanks for putting up with me, I must leave now. Good luck”.

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  26. retodd

    Wood,
    You don’t use the wireless card for some hidden computer. You stick it in the computer on/under your desk. Any web connections you enter through that and not your work network.

    I’m having the same issue at work but when they bring it up I just give them a blank stare and say “huh”. After a few times they get frustrated and give up. Fucking babies!!

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  27. Woodshedder

    Juice, that may be how this ends for me.

    Retodd, that is interesting. I didn’t realize that. I will explore that option more.

    Honestly, I don’t need to watch every tick. I just want to know that a few times a day I can get some realtime quotes with charts to check things out, and be able to enter into positions without having to enter at the open.

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  28. BroDawg

    Wood,
    I have a simple solution for you. Setup your home computer for remote desktop access. It is simple to setup..have your friend help you out. Then you can remotely logon to your home computer from your office computer. The only history that will be visible on the office computer is a TCP connection.

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  29. BOOMER

    Shed – pony up for a MacBook with the airport feature. Sign up for Tmobile wireless or some such data service. Voila.

    Or…just use your own pc on their connection.

    Part of my deal was that I had a hardwired connection to the T1 or whatever they call it these days, outside the network and all the logging/tracking/bullshit.

    Siting on my desk is one POS Dell laptop which I will not be seen in public with (used only for payroll and outlook) and then my sleek macbook pro which is running the stock stuff and internet stuff.

    enough horsepower to lose 200k in 10 sessions!

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  30. TraderCaddy

    When I was practicing law I would have to go to Court on occasion and have hearings, trials, etc. I would bring my old Quotreck with the B&W screen that worked off the radio signals at that time. I would sit at the table with my briefcase open looking at the screen every once in awhile.
    Several times I had to make a trade and would ask the Court for a recess and the Judge would usually say OK.
    I never got caught but then again it was my own law office so I couldn’t fire myself.
    I also recall sitting in my car in 100 degree temp. outside the Courthouse just watching the quotes.
    Good times!!

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  31. skot

    Everyone is suggesting ways for you to get around this, but what I want to know is how will this affect your strategies? How will you set your prices? Does this change entrance/exit strategies?

    Also, if you’re just checking in on the market, why are real time quotes so important. Just go to yahoo finance or something.

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  32. richard go

    I don’t normally post; but, I really enjoy your work.

    Sorry to hear about your misfortune.

    Best wishes on your job hunt. I can’t wait for the day that you leave these bitches behind while the dusts settle.

    Good Luck

    richard

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  33. cdt2001

    Nice entry.

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  34. Woodshedder

    Skot- good question. Given time, I will give more specifics about how I will figure my entries, exits, and stops. Real-time quotes may not be that important. It is just that I have always had them, from day one.

    To everyone else: Thanks! There is some really really good advice listed here for anyone that wants to trade at work.

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  35. Neil in SC

    I bought a palm treo and am able to track and trade on fidelity all the time. Since everyone was always looking at their blackberry’s or palms it was easy to do so at a meeting if I sat in a corner. In my office I was on own.

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  36. iio

    Sorry to hear about the dilemma. I do the same at my work, and have yet to be caught, probably due to my paranoid nature. But, if I ever do, there are lots of good suggestions here… (except, of course, the Flys)

    Good luck with whatever you decide.

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