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STOP FISTING ME

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SDAFA [Aug. 6th, 2004|04:15 pm]
I was hung over. Now I'm just tired.

I finished the day up $640.
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UBIPUIQ [Aug. 5th, 2004|05:51 pm]
PFE took $300 from me this morning, and it was the last straw! I broke up with that bitch!

I made $400 back on TXN before lunch, and then $800 shorting GE in the afternoon.

It's been proven that I am the worst jinx to traders ever born... but I'm pretty happy with how the supposed worst month of the year has been shaping up so far.

I finished the day up $900.
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THE AUGUST FORMULA [Aug. 4th, 2004|04:19 pm]
...will be PFE in the mornings, a long lunch, and TXN in the afternoon.

At least that's what has been working this week. And of course, now that I've noticed that, I'll try doing the same shit tomorrow and get absolutely raped.

I finished the day up $920.
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NPOIPO;MIM [Aug. 3rd, 2004|04:32 pm]
I floundered and floundered all day. All the NYSE traders did. We were all negative, except for GLENMA (who got a lucky fill in the AM and quit for a 3-hour lunch), by 3:30pm. And then we all suddenly pulled out good trades to finish in the black.

I was doing great on F around noon when they had their shitty production results announcement, but then I made one bad decision and lost everything I made and then some.

At the end of the day I managed to get 3000 short on TXN, right at its top, and ride it for 9 cents. We're talking the VERY end of the day here.

I finished the day up $390.
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[Aug. 3rd, 2004|12:06 am]

This is from [info]traderp's journal on June 16th of this year...

Being a good stock trader is being God -- you are one step removed from the system. You profit from the system, but you are no longer required to be a producer within the producer-consumer equation. Once the escape from being a producer happens within the system, you have absolute economic freedom.

I've always thought this but I've never been able to put it in such positive terms. People get mad at traders (especially scalpers). They think we're some sort of parasite, and in a way we are, exploiting the tiniest inefficiencies in micromomentum markets. (We DO steal all the good fills at good prices from the 9-to-5 schmoes' fund buyers...) The richest of us are still only nibbling away at pennies in the fluctuatuions of thousands of securities and commodities, each with billions of dollars in market caps. So I've always thought of myself as being a parasite, living off the inefficiencies of other people's transactions, like a beggar getting change from the world markets or scrounging in garbage cans for scraps of food.

But I don't want to think this way anymore. There is a fucking NOBILITY to what we do. We are voluntarily seceding from the machinations of capitalism. Instead of being the slave hamsters that power the juggernaut, or being lucky enough to be one of the few who get to ride on it, we're keeping pace with it at our leisure, scooping up the exhorbitant amounts of excess money that fall off at every bump in the road.

I don't want to PRODUCE anything for anyone else to use. My time here is limited and NO AMOUNT of money per hour can make me use that time making something for someone else to use or enjoy. I am fucking PROUD to steal from the machine, and participate as a consumer when I want.

In Grand Bend this weekend I bought a Corona at Coco's. I was sitting with JADESTAR, her hot friend ANGTWIN, and a bunch of dudes I didn't know, and they saw me pay for it with a twenty, take the ten dollar bill back, and leave $4.50 in change as a tip.

They didn't understand why I left such a big tip, and proceeded to say shit like "Ten bucks!?! That's like an hour of my time!" etc., etc. Fuck impressing them or anyone; I don't care about that kind of shit. My reason was: I'm wearing a bathing suit with one pocket that fits only my wallet. I don't have anywhere else to carry four loonies and two quarters, I don't want them jangling around uncomfortably in the full ass-pocket of my wet bathing suit. The point is, that $4.50 was not measured in sacrificed minutes of my precious time living in this universe. It was made in some profitable trade somewhere, and I make dozens of those EVERY DAY. I spent ten bucks to enjoy a sunset with some ladies in a little beach town, cold beer in my hand.

And THAT is economic freedom.

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BMBMNBM,BV [Aug. 2nd, 2004|02:58 pm]
The terrorist stuff made things move around a little today, so I was able to make some coin on PFE in the morning and TXN at lunchtime/early aft. I quit for the day because I couldn't believe I was up over a grand on a day in August.

I finished the day up $1140.
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AUGUST IS HERE EARLY [Jul. 30th, 2004|04:27 pm]
Within 45 minutes of trading today, every single stock on the NYSE was too dead to scalp without great difficulty. It reminded me of how much more difficult it is to scalp when there are no "me-too" forces to make aggressive retail moves possible.

It took me $300 and all morning to realize the above. I was whacking out offers when the E-minis would make a promising up move, and my stock would just stick there since nobody else cared to buy when they saw me do it. So I churned through a lot of shares, took a lot of even trades and penny losers, and then I got a break at the end of the day when everyone started closing out positions. PFE and GE got jerked around, and EMC's volume picked up, so I was switching back and forth between the three stocks for the last hour, mercifully making a bit of money for the day. I'm still negative for the week though, and it's officially been my worst week yet.

I finished the day up $530.

I finished the week down about $690.

I finished the month up $8800.
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INOIUBIO [Jul. 29th, 2004|05:31 pm]
It's shaping up to be my worst week yet. I couldn't hang on to anything I made, and it was a pretty dead day. I didn't see many opportunities. Tomorrow should be way better though.

I finished the day down $240.
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QCQWQ [Jul. 28th, 2004|04:56 pm]
I lost $500 in a flash today, but I got it back with very careful 1000-share trades. I was determined not to have a third bad day in a row.

At 3pm the action started. I made good money longing GE's rip, and then stupidly lost it when I tried and failed to pick the top. Stupid!

Then I got short a whole whack of shares after MOT's 15-cent pop at about 3:40, and held the shares until the close. That was the only money I made all day, but was good enough for me.

I am determined to make back the rest of the money I lost, and I'm going to do it all tomorrow.

I finished the day up $540.
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NV,,NHJCVKJGC [Jul. 27th, 2004|03:51 pm]
I got destroyed again today, and I'm not too happy about it. PFE was the nail in my coffin. I could not get long on its rip no matter how hard I tried, and the specialist was so overwhelmed at the top that my orders to scalp the fluctiation were always wrong. The specialist had to print every order off as blocks, and sometimes these blocks were fifteen cents apart. Cancels were nonexistent, so a massive overfill stopped me out and shut off my keys. It hurt!

I finished the day down $750.
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NOPOIMIO;M [Jul. 26th, 2004|03:32 pm]
Today was the worst day I've ever seen in terms of my branch's performance. We have never finished negative on the day as a whole, but when I left we were down over $5k. Almost half of the traders (including me, although I fought for a long time) were stopped out, and nobody could be considered to be having a good day, just a barely positive one.

There were some serious system problems with both eSignal's quote feeds and our execution system in the morning. I was lucky enough not to be hit badly by this, but I still traded terribly. The only good trade I made was a huge short on MYL in the late morning, and even that trade should have been held longer than it was. I was up $500 after that, and lost $1200 gradually from there.

I finished the day down $720.
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IVUPQERP [Jul. 23rd, 2004|04:15 pm]
I churned through a TON of shares today. I feel like the world's least efficient trader. Half a million shares, and I almost had absolutely nothing to show for it except for PFE's last 20 minutes: a scalper's dream.

I finished the day up $810.
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OIWQCN[QIEW [Jul. 22nd, 2004|04:21 pm]
It had the makings of a legendary day. I was up over $1k before 11am, and when I left for lunch at 12:30 I was up over $2k...

But when I got back from lunch our system execution had slowed down. Retail orders weren't making it to the specialist's AutoEx in time for fills. On moves in which I would take 4-5k shares for 3-4 cents, like in the morning, I'd instead be lucky to get 500-700 shares, and by the time my orders would get accepted I'd be lucky to take a penny loss on them.

I ended up losing $500 from the top on what felt like my most frustrating afternoon yet. Had the system been as good as it was in the morning, I am confident I could have cracked $3k around 3pm and made a solid run for $4k, or at the very least set the new NYSE record.

I finished the day up $1550.
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AWECHB [Jul. 21st, 2004|04:16 pm]
What a fucking crazy day. I couldn't hold onto anything I made. I'd make $500 and then have it raped away by some crazy unexpected reversal.

Luckily at the end of the day I got long on MOT's mini-rip. I took 10k shares for 5 cents. And that's all the money I made today.

MANAGA had an awesome trade. The guy is developing the HUGEST balls. He retailed in long on MOT's biggest rip of the day for 23k shares and took it for ten cents! What the fuck, that takes so much fucking balls!

I finished the day up $500.
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IPUBIUKJ;NB [Jul. 20th, 2004|04:12 pm]
I got robbed of $550 on EMC in the first ten minutes of today, and battled back by making $600 on MOT and PFE before lunchtime. Then after lunch I lost another $600 immediately, this time on PFE. I managed to battle back though. What a waste of the day...

I finished the day up $50.
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AW YEAHHHHHH!!!!!! [Jul. 19th, 2004|03:49 pm]
I said I'd do it and I did. I made back the two grand and then some. I made a grand on PFE in the morning, and then another 1200 or 1300 on GLW from 1pm to 3:30pm.

That's a new personal best day for me, by almost $500, and now MANAGA is not the only NYSE trader at the company to make $2k in a day... I wonder if I can crank out a $3k day this week too?

I finished the day up $2250.
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POUIYPOUIY [Jul. 16th, 2004|04:27 pm]
Somewhat of a comeback day. I traded almost 700,000 shares... I was addicted to HUGE positions. Needless to say I churned one HELL of a lot, but I still made money. I didn't sleep well last night, and if I had, I bet I would have had the presence of mind to crack out a $2000 day trading far fewer shares, thus making up for yesterday's brutal loss.

MANAGA set a NYSE record for our company. He finished today up $3280! It was the first time a NYSE trader at our company has cracked $3000. He's still the only trader so far to crack $2000.

I finished the day up $1100.
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PURE PAIN. [Jul. 15th, 2004|03:42 pm]
Well, I took my biggest loss yet today. It wasn't a good day to begin with, and I spent the day around -$600, battling back to about zero, and then losing tons of money again. Then the very bad news about PFE came out, and I was not aware of the severity of it until after it happened. PFE broke through its 33.50 level and black-holed down to 33.43 on the bid. I figured it was a charity pop at a bottom, and that I could catch 33.50 or 33.49 on the bounce, so I got long 7000 shares... and witnessed the price plunge almost to the dollar.

On the same move, another trader lost $2600, another lost $600, and a trainee lost $800 and will probably be fired.

I console myself with the fact that I'm still positive for the week, and was the top trader in my entire branch (28 traders) until this happened. I'm still probably in the top ten.

I finished the day down $2000.
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VBRN';VRABN [Jul. 14th, 2004|09:34 pm]
Finally a great day to write home about. If I hadn't taken a $300 loss at noon I think I would have beaten my personal best day and had a shot at the elusive $2000 mark. As it stood, I'm not disappointed. PFE was moving fast and trading like a busy day in January or September, so I scalped the fuck out of that for most of the day. Then MOT crashed through a whole bunch of key supports and I was balls-in short for that.

I finished the day up $1600.
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AAAAAAAGGGGGGHHHH [Jul. 13th, 2004|04:13 pm]
I was so FUCKING infuriated today. Were it not for my $700 long on NT (right at its peak, 10k shares for 7 cents) I would have finished the day extremely negative. I got up to $800 and churned away all of it during the dead-as-fuck afternoon, with a lovely $300 loser finish on TXN.

If there's no volume tomorrow I'm leaving at lunchtime and not coming back, even if I'm negative.

I finished the day up $190.
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