Why Google? Why! – How I lost $11,000 in 3 minutes.
Sometimes I think I have the worst luck. I’m trading a bullish support pattern in-the-money trade on Google entering into the late afternoon to get out before the close (earnings). I change windows and by the time I look back I see these red numbers changing like the speed of sound. I’m so confused. I think a bomb just went off and the markets are in a complete panic – no, Google just released its earnings unexpected during the mid-afternoon – just 10 minutes after I entered my CALL option trade. My $11,000 trade went from profitable to $0 in about a minute. I couldn’t even get out it happened that fast. My body feels quite sick at the moment and my head is hazy. So now I have to start ALL over again damnit. The world of pain I live in and my mother wonders why I just want to be a hermit in the woods.
Break-down of this trade: Enter 12:27pm, Google release earnings at 12:30pm prematurely instead of after the close of the day, my account is wiped clean in about 1 minute. I watch in confusion and panic as Google drops so fast I can’t get any order to go through to sell out and take any type of loss but $0. Damn these unexpected releases! It doesn’t feel ethical to the small investor.
Did you feel any of this afternoon pain from Google? Share your bitter sadness….
This entry was posted on October 18, 2012 by Paul Awol. It was filed under goog earnings, how to lose all your money in one trade, trading stock options, unexpected earnings release and was tagged with cashflow machine makes me cashless, good quick fall, google unexpected earnings release, i want to kill myself, suicide afternoon, trading stock options, what happens when you are on the wrong side of the trade.