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AtricleZine - Commodity Trading Blunders II, PART 3 - My Early Days As A Novice Trader
Set of 20 Key responsibilities of HR Manager.HR Manager is one of the most important key to open a lock hanging on the door of success in an organisation.If an HR Manager is efficient enough to handle and to take out best from his team members any oragnisation and can achieve more from his target goals. HR manager plays an very important role in hierarchy, and also in between the higher management and low level employees. Stated below are major responsibilities of HR Manager:-Responsibilities:
BUT…what would have happened if the coffee futures market had gone limit-up instead? Do you think the trading manager would have demanded the loss go into the “error account” then? No way. I would have eaten that as sure as day. In hindsight, I could have told him that it was my intent to stop and reverse; and in fact I should still be in the coffee futures market and short. W
After being motivated to help his family get a better life one of the most successful online entrepreneur is now sharing his Secret X factor.In late 2001 he began like most people trying to make a living on the Internet. After researching the web he first invested in online businesses like safe list, FFA, and bulletin boards that are supposed to do everything for you and you sit back and watch the money roll in. After two years of virtual no success and a great deal of lost time and money he decided to go on a different directi
Here’s how the error occurred: The morning I exited, I had a resting GTC trailing stop in at 68 to sell four coffee futures to close out. I had just gotten one of those nifty hand-held quote devices that work off the FM band. Remember those? That was a big mistake. Watching that thing just ruined my long-term perspective. But this time was different. Somehow I recognized a top and called the trading desk to sell everything at the market. I almost caught the exact top. It was just luck. So I took a car ride thinking I was out of the market with an $18K score. Time to celebrate! I was so smart! Not so fast, Tom.
When I got home I heard a message on the answering machine from the trading desk. I called them and the clerk said I forgot to cancel my GTC sell stop at 68 selling four futures contracts. I sheepishly asked him what coffee closed at. He said, “limit down!” I was up another $4,000!
But again, not so fast, Tom. The trading manager (with a hoarse, gruff voice, of course) got on the phone and said he called before the market closed to see if I wanted to keep the trade. He said because he couldn’t reach me, he covered the the four contracts without me. And then he barked, “This profit is going into the company error account!” He said it with so much authority, I thought that’s the way it was. That’s how it worked, I said to myself. I was so pumped up at just making $18,000 how could I be greedy and demand the extra $4,000 also?
BUT…what would have happened if the coffee futures market had gone limit-up instead? Do you think the trading manager would have demanded the loss go into the “error account” then? No way. I would have eaten that as sure as day. In hindsight, I could have told him that it was my intent to stop and reverse; and in fact I should still be in the coffee futures market and short. Wh
These days many jobs are pretty compartmentalized. The bigger companies get, the more jobs that involve handling minute details of the business. Unfortunately in some cases it can be difficult to explain those daily duties in an interview and help the interviewer understand what skills you use every day.The best approach is to be as direct and simple as possible. When they ask you about your current position, start by telling them about your basic responsibilities. Then tell them who your “clients” are. Who do you service
Here’s how the error occurred: The morning I exited, I had a resting GTC trailing stop in at 68 to sell four coffee futures to close out. I had just gotten one of those nifty hand-held quote devices that work off the FM band. Remember those? That was a big mistake. Watching that thing just ruined my long-term perspective. But this time was different. Somehow I recognized a top and called the trading desk to sell everything at the market. I almost caught the exact top. It was just luck. So I took a car ride thinking I was out of the market with an $18K score. Time to celebrate! I was so smart! Not so fast, Tom.
When I got home I heard a message on the answering machine from the trading desk. I called them and the clerk said I forgot to cancel my GTC sell stop at 68 selling four futures contracts. I sheepishly asked him what coffee closed at. He said, “limit down!” I was up another $4,000!
But again, not so fast, Tom. The trading manager (with a hoarse, gruff voice, of course) got on the phone and said he called before the market closed to see if I wanted to keep the trade. He said because he couldn’t reach me, he covered the the four contracts without me. And then he barked, “This profit is going into the company error account!” He said it with so much authority, I thought that’s the way it was. That’s how it worked, I said to myself. I was so pumped up at just making $18,000 how could I be greedy and demand the extra $4,000 also?
BUT…what would have happened if the coffee futures market had gone limit-up instead? Do you think the trading manager would have demanded the loss go into the “error account” then? No way. I would have eaten that as sure as day. In hindsight, I could have told him that it was my intent to stop and reverse; and in fact I should still be in the coffee futures market and short. W
One of the services search engine marketing companies provide is “Link Building”. This is where the firm actively seeks out links by finding websites that are on a similar topic to yours and approaching them on your behalf to ask for links. However as the search engines have become more sophisticated they have been able to distinguish between sites providing good high quality relevant links and other less reliable websites. As a consequence it’s become increasingly important for search engine marketers & optimisation agencies to learn
When I got home I heard a message on the answering machine from the trading desk. I called them and the clerk said I forgot to cancel my GTC sell stop at 68 selling four futures contracts. I sheepishly asked him what coffee closed at. He said, “limit down!” I was up another $4,000!
But again, not so fast, Tom. The trading manager (with a hoarse, gruff voice, of course) got on the phone and said he called before the market closed to see if I wanted to keep the trade. He said because he couldn’t reach me, he covered the the four contracts without me. And then he barked, “This profit is going into the company error account!” He said it with so much authority, I thought that’s the way it was. That’s how it worked, I said to myself. I was so pumped up at just making $18,000 how could I be greedy and demand the extra $4,000 also?
BUT…what would have happened if the coffee futures market had gone limit-up instead? Do you think the trading manager would have demanded the loss go into the “error account” then? No way. I would have eaten that as sure as day. In hindsight, I could have told him that it was my intent to stop and reverse; and in fact I should still be in the coffee futures market and short. W
Are you still not quite sure if you should become an affiliate marketer? Let me give you a few reasons about why you should become one and maybe even give you a few tips about how to choose your affiliate program.Becoming an affiliate marketer give you the possibility to make money from the comfort of your own home. Not everyone likes the long trips to the workplace and back. You can make your own schedule, thus you can work as an affiliate marketer when you want, and no matter what time it is. In fact you can work from anywher
But again, not so fast, Tom. The trading manager (with a hoarse, gruff voice, of course) got on the phone and said he called before the market closed to see if I wanted to keep the trade. He said because he couldn’t reach me, he covered the the four contracts without me. And then he barked, “This profit is going into the company error account!” He said it with so much authority, I thought that’s the way it was. That’s how it worked, I said to myself. I was so pumped up at just making $18,000 how could I be greedy and demand the extra $4,000 also?
BUT…what would have happened if the coffee futures market had gone limit-up instead? Do you think the trading manager would have demanded the loss go into the “error account” then? No way. I would have eaten that as sure as day. In hindsight, I could have told him that it was my intent to stop and reverse; and in fact I should still be in the coffee futures market and short. W
At the start of the payday loan industry people often looked to their local cash advance store to get cash they needed for an emergency. With the emergence of the Internet, the face of the industry has radically changed. Cash advance stores are still doing a tremendous amount of business and are still prospering very well, however more and more people are looking to the Internet to obtain a payday loan. Many may ask, “why would someone want to get a loan online as opposed to going and getting one locally?” The answer to this question
BUT…what would have happened if the coffee futures market had gone limit-up instead? Do you think the trading manager would have demanded the loss go into the “error account” then? No way. I would have eaten that as sure as day. In hindsight, I could have told him that it was my intent to stop and reverse; and in fact I should still be in the coffee futures market and short. What right did he have without a signed management authorization agreement to liquidate me?
If it happened today it would be a different story. I probably would offer to split it, being such a nice guy. [grin] But it was a long time ago and I didn't know any better. He probably laughed and shook his head afterwards. As Robert Redford said at the end of The Sting… “I‘d just blow it anyway”. Knowledge learned is more valuable than money. Gann said something to the effect, “Once you have the knowledge, it’s easy to make money in commodities”. I suppose I can rationalize anything.
So there you have it...two order error stories. One lost me $1500 and the other made me $4,000 – well, made the brokerage firm $4,000, I should say. This taught me the importance of having a novice commodity futures trader paired up with an experienced, mentoring broker. It is so important to have someone on the other end who knows your situation and can flag mistakes before they get out of hand. In these two cases, there was the potential to wipe out many years of discount commission savings.
If you’re new to the commodity futures and option trading game, consider going slow for a while and working with someone you trust. Once you get the basics down, you can ramp it up with confidence. I know some experienced commodity futures traders who will only work with a full-service commodity broker. There's a lot of traders like this out there. They know the risk of errors and what it can do to your ego and bottom line.
Good Trading!
There is substantial risk of loss trading futures and options and may not be suitable for all types of investors. Only risk capital should be used.
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