Friday, November 03, 2006

Updates

Well, what do you expect? It's the same old me and the same old you and the same old "authority" that is dishing out scoops of ice cream, dotted with blobs of dung from the heavens.

Yanyway, my job has changed a bit.

I have begun trading on EurEx and am now dealing with German 5, 10 and 15 year treasury bonds. Its been three days to be precise. I wonder if what I have seen so far is to be the snapshot for the time ahead, the days and the seemingly long nights to come.

There definitely is a great element of discipline in trading. Both mental and physical. Add to it the fact that you have to sit on a chair for around 10 to 12 hours (well, you can go to the loo and to the pantry for food/coffee as and when the need arises). But more than anything, its the need for controlling yourself and your emotions that sets most of us here ticking.

The realisation that its more about mental strength than about analytical skills or pure luck is dawning. I wonder how many would agree with this thesis. But seriously, its more about having confidence in yourself, when the numbers start to go against you. Whether that confidence is based on your analysis or on pure gut feeling or on a totem, is an altogether different story.

Analysis is only so good. Theres an apt analogy to this. The light at the end of the tunnel might as well be a speeding freight train. So you would do well to get the hell out of there. :)
People who trade sure know how to dish out uncalled for attitude every now and then. Be it their lingo or be it the money they make or the fact that the money they lose is more than most people's life time savings. They sure know how to assert their superiority. The most ironic prat is that they also groom you to be like them. Makes you wonder what you would be like a few years into the business. Come to think of it, a rouge outlaw in a western - something like the Butch Cassidy in Butch Cassidy and the Sundance Kid is what comes to mind. Quick on the trigger (mouse button in my case) and quicker still on the mouth. So that's about it I guess.

Have an open position. Need to double up according to the rules of the game. Need to close it so that I can sleep without any regrets in the weekend. Lest see how it turns out.



--
Red

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