Long & Wrong

I am quite heavily in the red after the first couple of days of this week, but that’s OK because if anyone asks me I’ve got two new tactics to suggest success even where there is none…

1. Use the poker method of accounting.  This is even smarter and more devious than the Enron method… only report winnings.  Daniel Negreanu has tournament winnings of $12,583,677. I don’t quite(!) have those winnings but they are still of sizeable magnitude (just not quite as big as the losses).

2. Report turnover not profit.  The saying may be true –  ”turnover is vanity but profit is sanity” – but with negative profit like mine I’m going to concentrate on turnover.

Do I really have to explain the relevance?

So I have significant winnings this week and an impressive turnover, everything is good.  Now all I need is an accountant who is dumb enough to accept that statement.

I thought today had one last trade in it and went long e/u at xx260.  I was hungry though so headed off for dinner and left orders at xx254 and xx281.

I think I might have been buttering bread when all hell broke loose.  Had I been at the screen I would like to think I would have held off until xx350 and my FX account would have grown by 10%. I know trading is full of ‘what ifs and if onlys’ but I still think it was an expensive meal. Either way I wanted to share the pain here.