Friday, April 22, 2011

the silver lining!

(based on a true story)



sandy was so happy...

he had just got his first job

as a salesman

in an automobile sales outlet

in his town.


he started working

with passion

and zeal!


months

and then years

started to roll.


his employers

were really pleased

by his hardwork, loyalty and consistency!


they "rewarded" him

by offering him to marry

their niece!


a small step for the man

a giant leap of the fate!


he got a good dowry

a decent pay-hike

a seat at the round table

besides a promotion

to manage the show independently!


sandy and his family

lived happily thereafter

till

sandy got an itch

to do something "more"!


the student was ready

the appearance of a "teacher" was "inevitable"!


sandy met a customer

who was into stock trading!


the customer became a friend

and the friend became a "trader"!


sandy opened a demat account

and after brief flirting with stocks

started dating commodities

on the exchange!


initial fear

got extinguished

by chance big shots!


the unexpected profits

overshadowed the tiny trickle of salary!


sandy "became" an "expert" in commodity trading!


whatever he said

happened!


with the profit

he bought a ford ikon!


the ikon inspired the lifestyle

the lifestyle fueled the attitude

the attitude sparked the ego

the ego signed the bigger cheque!


sandy had come a long way

all set to go places!


his family was happy

and so were his foster parents!


whatever he touched

turned into

silver!


so, he started trading in silver

in the commodities market!


he took long position

in the shining metal

and hit a jackpot!


he booked profit

and waited

for the next chance!


chance came

like the next train


sandy jumped onto it

and got down at the next station

with his bag full!


by now

sandy had doubled his "savings"

but he wanted more!

more money

and more respect!


he wanted to prove

that his success

was not a fluke!


so the expert in him

pointed it out to him

that silver had come up too much

and was all set to crash!


this is the opportunity

sandy wanted

to prove his "trading abilities"!


while everyone was long (buy position)

sandy shocked everyone

turning short (sell position)!


that day

the market remained flat

neither up nor down

perhaps giving a serious look to sandy's position!


sandy felt great

but couldn't sleep properly

that night!


next morning

he drove fast to his office

switched on the tv

and hit the roof

in ecstacy

on seeing the silver down!


his prophecy had come true!

he was truly a genious!

a rainmaker!!

a trader with a midas touch!!!


he went out of his room

lighted a cigarette

puffed out the smoke rings of invincibility

came in

head held high

and looked at the corner of the tv screen

to see the latest "score"


his eyes mistakenly read

the wrong score!


he ordered his eyes to look at the score properly

the eyes obeyed

but the result was same!


silver had started to climb again!


sandy was "sure" that this was only momentary!


he sank in the chair

ordered for a cup of coffee

and waited!


but silver continued to climb!


minutes and hours passed

the day closed

the silver was still shining!


sandy closed the office

went home

didn't talk to wife and kid

and slept without having dinner!


next morning

he was awake

before the sun rose

in the land of the rising sun!

japanese marets opened

and silver was up!


the day dawned in india

and sandy welcomed it

by shorting one lot more!

he had enough funds

to sign the extra margin cheque!


that day

silver shot up big!

sandy got his first major hit!

now he was sitting on a loss!

he decided to wait!


the next day

silver continued its run up

unmindful of sandy's expectations!


sandy's account was now bleeding!

in the evening

sandy's broker called him

and politely requested

the business family's son-inlaw

for the additional margin cheque!


sandy signed his last "good" cheque

away from his wife's attention

and sent it to his broker!


"silver has gone up too too much

it has to fall!"

sandy consoled himself!


but silver didn't listen...

it continued to rise

at the ring of the trading bell

the next morning!


by now

sandy was in deep loss!


he didn't have the nerves to book the loss

nor did he have the money to hold the position.

but he knew it very well

that he won't be able to recover the huge accumulated loss

except from the trade itself!


"it might start falling

the moment i square off my position!"

he thought.

this thought made him very clear

about what the right course of action should be!


he borrowed 50000 from his friend

and paid it to his broker

to keep the short position alive!


silver said "thankyou"

and climbed big the next day

digesting sandy's borrowings!


now sandy found himself in a no-return position!

he borrowed 1lac more

from another friend of his

to fund 2 more days of survival!


2 days came

in eactly 2 days

and swallowed sandy!


sandy went mad!

he stopped talking to anyone!


at night

he silently

took out his wife's gold jewellery

to support his terminal trade

for a few more days!

"i will get all this back

once silver starts falling!"

he consoled himself!


next few days

silver continued to steam roll up!


sandy's fear now turned ugly!


it was a fight to the end for him now!


he locked himself in a room

lit his cigarette

and started looking at the available options!

and then

suddenly

he got an idea!

he had received cash advances

from his customers

as bookings for their cars!


he opened the chester

and counted...

...it was over 4 lacs.....

he picked them

sat in his ikon

raced to his broker's place

and dumped the cash

on the table!


the broker was shocked!

but he was "wise" enough

not to ask any question!


sandy's position got a week's reprive!

---

week came

and went!

silver continued to rise!

--

sandy finally decided to "stop loss"!

he went home

took out the gun

and pulled the trigger!

--

his kid

performed the last rites,

his wife

handed over the keys of the ikon

to the debtors,

locked the house

and went back to her parents' house!

--

next morning

the markets opened

and

silver continued to shine

shamelessly!

2 comments:

INDITRADER said...

Shan sir, yt is it? A true story. I am shocked & even cant able to post also because my hands still sherving. As I also hve a small part of this story in my trading life.

Er. Jagmohan Singh said...

yeah, this is based on a true story...