You Are Fired

The title reminds me on the popular reality tv The Apprentice. Cam bagus je si Donald Trumph tu. Anyway it wasn't a good trading day for me today. Tried to purchase the 10 yr MGS but everytime I placed a bid, somebody else will hit the offer side...so melepas la. At the end of the day I also have to join the buying spree although my gut feeling told me that price should be lower next week. Why did I buy at a higher price when I expect it to be cheaper in future? My boss told me so!

We had a chat this morning and he told me about his conversation with our regional boss last night. The regional boss said, " If my trader has a view and take position according to his view but ends up wrong and make some losses, I can accept that. But if the trader has a view but didn't take any position and the view turns to be correct, I'll sack that trader". Why I ask enthusiastically. My boss replied, "If the trader didn't make money when he's right, how can we expect him to make money when he's wrong!"

Ouuch. That hurts me right in the face. I have a view that bond price will go down and therefore delaying my purchases. My boss told me that it was alright to have such view. But if my view is wrong and bond prices headed north, I'll be in a deep shit coz I didn't take any position. To make matters worse, he left the decision to me. "You are paid to make decision", he said. Damn....what shall I do. To buy or not to buy?

I was really in a dilemma. If I follow my view, I'll be in trouble if things go otherwise. Finally I decided to buy a few lots, albeit at a higher price as my insurance. Hopefully tomorrow the price will retrace to a lower level. US stronger than expected economic data should give me some hope.

On a brighter note, the repairs on my car were completed yesterday. After driving the Evo 1 (Galant) for a month, that was a mighty relief. Feels like getting a new car hehe. But the battery was weak. Must be the mechanics fault who didn't start the car on daily basis. Luckily the battery is still under warranty. Managed to get it replaced by the battery shop f.o.c. obviously I didn't tell the owner that the car was in the workshop for a month. She look quite puzzled since that was the first time the battery she sold went weak within 6 months. Sorry maam, I'm just utilizing the warranty..hehe.

Ok la got to go. England vs Trinidad in 10 mins time. See u soon :)

Signing off at 11.50 p.m.