Firsts

First boo-boo in the office: 06Oct, at about 1130am. Shit. Shouldn't have happened. If only, if only, if only...

I gave a 'sell' order for 200,000 shares of Nido Petroleum instead of 'buying' the shares. After putting down the phone, I immediately realised the mistake and called the equity desk. It probably happened within 10 seconds, but it was too late. A done deal is a done deal.

We tried to remedy it by just buying back the shares at the same price as when it was sold, but dang! that's when the stock decided to start performing and the price kept increasing. To cut the story short, at about 1230pm, 30 minutes before the Australian market closed, we had to book the 'buy' order. Total loss for this error trade was AUD260. Again, major shit.

On the other hand, I had my first trade today. I was able to sell an equity linked note for Apple. USD100,000 notional, good for 1 month at 93% strike with 14.33% YTC, to launch at market. I know, sounds alien right?

Imagine my first 2 weeks with the Bank. I wasn't familiar with all these terms, and people left and right were speaking this language. Aaaah nearly drove me crazy.

It's getting a bit better now, word by word, I'm slowly learning them.

Pray for me though that I don't encounter any more mistakes.