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stuff happens quickly



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Over-confidence ... terror .... here is an email that I received.

Linda talks about being able to trade your way out of a mess. Here's a
"scrambling"
example. Not quite the calm relaxed atmosphere of the academia articles <G>

Best regards

Walter

===============

"Walter

Now that I have settled down a bit I thought you might like to have a copy
of this email sent to "XXXX" covering todays trading activity.  Perhaps you
could file it under "Excrement Happens".  I have been trading the Mini Dogs
the past week in order to get my timing and order entry back into some type
of rhythm.  They are only worth 20 bucks a handle but I am up about 6K on
them over the week while I was only up 3K on the regular Spoos after 2
weeks.  Felt like I needed to get some rapid trading in for a bit after the
long layoff so made the switch to something more active.  Today was the
nightmare scenario of what can happen when you start getting into a rhythm
and relax just a bit to much.

xxxxxxxxxxxxx

My feeling is essentially to go back to normal spoos once I have the
concentration to work them properly and cease making mistakes.  I finished
20H (handle = $20) in the soup today and felt grateful about only taking a
400  buck hit considering that I was going short three around 12:55 CST and
when I saw it was going to run the other way covered and reversed by popping
in orders for 6 (I keep the page full with equal amounts of one lot market
orders).  The only problem was that I checked them off from the sell section
of my parked orders page and was short nine with the market hell bent on
going to the moon.

I then decided to cover the 3 I thought were long and noticed I had run out
of sell orders on my parked page.  Immediately I checked the fill receiver
and started to work any dip I could find to extricate myself rather than
panic but ended up 227H in the hole after clearing my board to that point.
I might note before that fiasco I was 21H to the good so it was a
significant hit.  Rather than pitching my chair through the monitor I worked
 things as hard as I could to try to salvage the mess.  Quickly gained some
ground and brought the deficit down to 136H when I proceeded to screw up
again.  This time I had my first short on and tried to put on the second car
on a 12 point bounce.  Unfortunately I used a buy order and knew it 1 second
after hitting the trigger (another 12 down the toilet).  By now the temper
is starting to set in.  However, it was the last error of the day and I
finally got the loss down to 20H by the time the clock ran out.  I told you
at the beginning of the month you would see the good, bad and ugly. Today
qualified without exception as REALLY UGLY and the good better start showing
up soon or I will be trading spreads next month.

Being able to come back from a 248H screw up gives me a small amount of
satisfaction but making such a huge mess in the first place is not a good
sign of mental stability.  On top of that I used a total of 27 turns for the
day so both the rabid dogs and their bookie got to chew on my rump a bit.

XXXX