Friday, July 6, 2007

Stay home Friday's

So-
yesterday and the day before the holiday were great days for me. I trade a pattern recognition system (which is just jargon for "matched patterns built from data mining to streaming data"). Most of the time the system trades as normal- never that big of a position- and life is fine. I win, I lose, but overall I'm up with a very small draw down. But the market has been wicked recently- like a skittish, rabid, cocaine addicted rabbit.

So today I walk in, knowing it's going to be a bad day. Why? Well first of all it seems every time I trade on Friday (my day off) I lose- as if to reinforce the fact that I should have stayed home. But also after 2 big winning days- I was in for a loss.
So the day goes like this

5 AM- wake up/news
5:30 Out the door
5:45 At the office
6:00 Turn on trading system (start q process), check last night's data, get coffee
wait
8:00 (or about) start trading
8:30 lose $7500 on one trade- ok
8:45 lose another 3k- still ok
9:00 down another 10k mark to market- that sucks
9:30 risk management and other stuff begins triggering (q is awesome)
10:00 system fights back from down 20k to down only 11
11:00 flat (down only 1k)
12:00 market grinds down, no trades. At this point I contemplate going home.
12:00:00.001 get long 10 mm
12:10 get long another 10 mm (why not)
12:30 %*^*&*@!!!
13:30 more %*^*&*@!!!
14:00 give up, risk management rolls out of positions, end the day down 30k.
Fuck.

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