Tuesday, September 9, 2008

The RO Report, "Insanity" Edition

When you get a group of traders together in a room, all on the same side of a losing trade, it's a lot of fun. It's hard to overstate the amount of cursing, groaning, and even sobbing that I heard today... add in thousands of gay jokes and I'm sure my brain is being irreparably damaged by this occupation.

In sum, getting long commodities near the open today was a pure "death" trade. There were some completely unreal losses today, with "Trader D" dropping 50gs at his lows. However, as you'll see shortly, the guys turned their days around, in a big way.

And it wasn't by continuing to hold the commodity longs. However, a "friend" of mine, a certain "Trader S" did hold those death longs, and got killed all day. However, even "Trader S," despite his stubbornness and stupidity, made back most of his losses.

The numbers really speak for themselves. Out of 22 traders, 18 finished gross positive, or 82%. 10 traders finished up over $3,000 gross, and 15 over $1,000 gross. The RO kicked ass.

Not me. I was number 17 of 22... gross positive, net negative. One of the hardest things about this job is not making money when it seems everyone else in the world is rolling in it... but you can't win everyday.

And again, if you're interested in joining the RO, email me. They're hiring.

Here's the top 5:

1. Trader F, $44,488 on 250k shares traded.
2. Trader B, $16, 450 on 835k shares traded.
3. Trader Z, $16,374 on 517k shares traded.
4. Trader D, $16,144 on 505k shares traded.
5. Trader A, $8,832 on 134k shares traded.

And the bottom.

1. Trader H, -$21,924 on 12,100 shares traded.
2. Trader T, -$444 on 6,100 shares traded.
3. Trader Y, -$437 on 11,800 shares traded.
4. Trader J, -$260 on 100 shares traded.
5. Trader S, $177 on 150k shares traded.


5holeSAVE said...

Shit- I hope I didn't jinx you (comment on last RO post)! but still green ink is better than red, right?

Dinosaur Trader said...

Nah, no jinx. I just thought that the commodities and oils were gonna bounce today. Given the positions I was holding by 10:00am, my day could have been much, much worse had I been more stubborn.


Jorge said...

Actually since DT laid his curse upon my house, he's been in trouble ever since. Or should I say Trader S...

Release the curse you vile beast! The power of Kneale compels you!

Dinosaur Trader said...


The curse remains.


Jorge said...

May Kneale hold hands with Pisant and frolic through your dreams forever.