May 23, 2020

The one lot options trader

Sometime in the 1980s-90s

Did you take a lot of ribbing?

Oh, did I! They called me “one-lot” for the longest time. The individual who gave me the hardest time was the best trader in the crowd. He had made millions and was virtually a legend in his own time. He started leaning on me and ribbing me right from the beginning. He made my life miserable.

Did your ego get dented by these really successful traders railing you?

Oh, yes. And, it went on for almost a year, day in, day out.

W`re you tempted to pick up your trading a little bit?

I did, but not for that reason. My backer, who had given me such a hard time when I was down, was the prod. Although he didn’t know that much about trading, he did give me one piece of very useful advice. Once I started turning it around, he told me to increase my size. He said, “Tony, a banker makes his first loan and he is very careful, but as he gets more comfortable, he makes his loans bigger. You need to increase your size.”

How did the harassment you were taking on the floor finally end?


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