HedgefundLIVE.com — For the past two days I’ve been trying to trade small amounts in my REDI account and getting my trading going. I’ve been on the desk for about 3 months but each day never seems to be the same. It has most definitely become more absurd with Petak joining.
His constant burping in the head phones after consuming massive amounts of food with Marc to limping up the stairs after realising his gum isn’t doing shit is entertaining but how enthusiastic he is with trading has brought a new attitude to this desk. I didn’t think this was really how a trading desk would be but considering I am 21 who would expect me to know what was really going on.
As much as people say, “trading is the hardest job” our traders love what they do and show up to work everyday looking forward to making money. The use of collective intelligence and yelling highs and lows helps each other through out the day and is something I need to work on most. Although I am confident; it is very intimidating for myself to jump into the conversations going on with little experience. Not to mention with veterans of the street.
Today I was looking at CSCO, DELL, and watching a few others. For the past two days I have been a little hesitant into entering my trades because of the little indicators I have been using. When I was looking at CSCO I saw it bounced a couple cents about a level on my REDI chart so I bought some thinking it would trend up. As I did, news came out on the earthquake hitting Japan so it quickly went down. As it was going down, I switched my position and sold some short.
That didn’t work out too well unfortunately because as I did that it stopped dropping and stayed consistent with the price and of course, bounced up. I have only been trading about 25 to 50 shares to get adjusted to the market so it was a good experience. DELL was a good trade, I bought 25 shares and it started trending up. Throughout the period I was holding DELL it was up so when I saw it go through another level on my chart I added in, it basically stayed the same and when I saw it start to drop I sold my shares.
Today was a good experience and I know continually being on the desk trading and listening to what is going on will help me further. The problem is when you get opinions from 4 different people on a simple trade.
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