Quote:
Originally Posted by pb4uski
What caused you to put on the short?
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Nothing in particular, after the 5 year bull run most traders were expecting a 5-6% correction. I would try to stay net short until the weekend when the banks required I cover and then start short again on Monday. IF I had caught most a 5% (using maximum leverage) down move over the course of 2 weeks I would have been very pleased with the results. I did not catch the whole -22% downward move, but with it all margin-ed, I did not have to. In the end it was just dumb luck, likely never to be repeated and so I closed shop and figured I would do something else. I had several successful and several unsuccessful ventures afterwards but never another multi-million dollar payday!