Thursday was Thanks Giving day for North American culture, since there were no markets I did not came to my office neither thu nor friday.
Wednesday my boss tell me to put a bid on the 1040 strike in the put side of the E mini, with little interest in really getting involved in the position. Market stood around the 12.45, so I started bidding at 11.00, couple of hours price kept in the same range so I moved the order to the 12 flat. Market closed and no filled for us.
On Thursday night I Logged on my netvibes night and glance Brian Shannon’s blog a text saying -40 points in the ESZ09 or -2% .
On Friday I checked my office’s email at about 10 am and Paulo asks me if we got filled on that put, since Dubai was around the news, markets were down. I answered that since the bid was to heavy we couldn’t get in that position in the way we wanted.
On Monday I see that the put was traded for 25.00 on friday… and it’s 21 at today’s pre open.
I think there you should know when the market controls you and you give away your precious freedom. When you let the market have control over you it means that you pretend to get something else from speculation, possibly it is reputation, glamour, empty ness in other life’s areas.
the movement on the SP futures on Thursday should have made get on office at next day to see what could I do. But I would only have followed the noise trying to get late in the move.
I hope this experience tells me I am not a trading junkie using the markets to fulfill other empty spaces.
Those 10 points we didn’t get were like the refusal of a glass of whiskey. That was the choice and so shall be.
Instead I enjoyed a nice baseball routine with my dad and other kids taking batting practice.