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Thanks for the reinforcing affirmation. I believe you said somewhere that you trade futures and options exclusively. I know it calls for a lot of discipline to wait for only the right opportunities. For my current year expectations, I have modelled my strategies for about 400 trades (about a...

This is the target for this year. I know it sounds very lofty, but I have given a lot of consideration to this. Last year, I set out to take 76K to 500K by year end, starting 25 of February. I was unable to achieve that, returning only 186% before withdrawals. On the other hand, through the...

Just to sum up the results: Withdrew 30K from the balance of 138K after the last update. Came back from vacation mid-week, and dabbled into a trade on Thursday before understanding what has happened in the market the last three weeks, losing 7K. Recovered 2K through two subsequent trades...

Weekly Update for final week 43 ended 12/21/2007 Finished my 2007 trades with a little bit of a losing week, down 1.4K. Please though since it could have been much worse (was down 30K sometime on Tuesday, before paring the losses through the remainder of the week). Was caught long and...

I still have one week (this week) to trade, and I am done for the year, till about mid-January. Surely I will apply the lessons learnt this year: Actually I strive to make continuous adjustment based on what I observe on a daily basis. My intention next year is to stick to a core set of...

What is your average hold time for a swing trade? I am developing my core set of strategies; for swing trades though (lasting a week on average), I will only do options: that makes it possible not to tie too much capital for that duration. You're right about tight money management rules: I...

Thanks for following. I hope for be back next year, hopefully with better results.

Thanks. It is a continuous learning experience. I think I am laying a good foundation for next year.

Weekly Update for week 42 ended 12/14/2007 Now five in a row. Lost nearly 21K. It is horrible to be ending the year this way, with only one more week to go. Why could I not keep away if there are no compelling plays? Need to work on that as I get ready for the new year. There wasn't any need...

Some did lose their day and more

Quote from polpolik: I'm curious Neke, and please don't answer if you don't think it's appropriate but if you had lost the 76k sometime this year, would it: Not sure how that could have come about, given the monthly withdrawals. But let's assume in the first month, before I had any chance...

That's right. If I were perfect I would have aimed for 10,000%

Those kinds of distress investing is more like buying call options: we know they could go worthless (which is more likely) but they could also deliver stellar returns. Post 9/11 AMR went as low at $2 in Mar 2003. Now at $20, it looks like a 10-bagger. Same with FWLT, which right now is acting...

I think it was on CNBC I saw it first (was at home then). Saw it go down initially, bounce back briefly to $29 or so, and it started on another leg down to below $26. I thought of shorting, turned away as I didnt think the risk/reward was great, only to rush in impulsively when it went down to...

Yes, I should not be averaging down on a losing position. I still break the rule once in a while though.

One day does not make a trend

if you can develop a system to profitably trade the random data, then in all probability it is not random to start with. It is like using mathematical formulae to generate pseudo-random numbers (which pass all the usual tests of randomness), and proceeding to predict the next items in the...

12/07/2007 Weekly Update for week 41 ended 12/07/2007 This makes it four in a row. Lost 5K. No excuse for this week, other than lacking in confidence to take my normal trades and not holding long enough to reap the benefits: Result was 15 meagre winning trades and 5 losers, with the...

Yes, but only to the level it was when you wrote. Let us know the next item they will spike, and we will wait for a 50% drop to load up.

Xtrader59, Do you know how silly your proposal sounds? So the unlucky fellow borrows 100K from you, adds his 20K to make a 120K trading account, and you require him to lock up 120K (the amount he will be trading) somewhere? What is the balance? Even if he didn't have to lock it up...