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Weekly Update for week 7/50 ended 02/27/2010 An OK week, up 10K (4.4%). Turned on my automation in full gear this week, and collected some nice gains. For the most part kept to my word of abstaining from initiating positions manually after 930am - gave some leeway and made it 10am! Will...

Not necessary. I still do trade, just the size is reduced, a lot is being handled by automation, including enforcement of rules.

Sounds reasonable. Maybe you could add a fourth to complete the loop: 4. When things aren't working out, go back to 1.

As if my life depended on 20k :) Poor soul, do you know how many 40% compounded loss it will take for the balance to get to 20K?

So if you trade ANY stock overnight, knowing a stock could go down 50% overnight (and your stops will be useless) that means you also have a 10:1 or 50:1 r:r? What about probabilities?

Weekly Update for week 6/50 ended 02/20/2010 D-E-P-R-E-S-S-I-N-G week, down 57K (20%). No words to explain the disaster that happened. Began on Tuesday, with what was supposed to be 100 contracts of X FEB 50 PUT worth 16K that I initiated via a Trade-Trigger. Unfortunately, there were...

Weekly Update for week 5/50 ended 02/13/2010 Negative week, down 19K (6.2%). Gave back what I collected last week. There is no shocking loss, except being stopped out at my max loss of 6K on an ERTS trade on Tues - entry was based on wrong information. The rest was a woeful collection of...

Sorry to hear that. SWM? I thought you stayed away from stocks in the news? I am the one that normally go looking for them.

That was a stock running away from me. I could program pegged or iceberg-like order submission into my system, but I would still be vulnerable if the stock takes off and does not look back.

My daemon that checks for the loss wakes up every 10 seconds. Checking my log, at 10:01:05 (my computer time), the loss was 5188 (based on last traded price), then 10 seconds later, it was 6058. That was when the trigger to cover the 6000 shares of SOHU at market was triggered. The difference is...

Took some time to verify the above for 2008/2009. Yes, you are correct. The trades for 2008 made 7K, while for 2009 the loss was 60K. Total for the two years was a loss of 53K. Of course that for Jan this year is a bigger loss. I wouldn't blame it though on expiration, just on myself. The trades...

Weekly Update for week 4/50 ended 02/06/2010 Positive week, up 19K (6.7%). Tightened up the noose a bit on some of my strategies and collected a nice stream of dividends from the automated trades: nothing spectacular, but pleased. The "big" discretionary trades was a call option on AMZN on...

No I didn't. I am serious about eliminating the tendency to average down.

As we go into a new week, max loss per trade has been reduced to 6K. It's time for an ultra-defensive posture. No more averaging down - take predetermined size upfront, and no more. The effect on the account has been proven negative on the account in absolute dollars all the prior years, no need...

Weekly Update for week 3/50 ended 01/30/2010 Negative week, down 27K (8.6%). Was supposed to be a lacklustre week, with plenty of automated trades paying slippage and commission. Decided to size up on discretionary trades on Fri and paid the price. Bought 7000 ESI at various prices and got...

Not enough data points to get a picture, but here goes:

Weekly Update for week 2/50 ended 01/23/2010 Moderately positive week, up 3.6K (1%). Not a lot going on in the discretionary department, as I keep defining the objective rules for play which are going to be incorporated into my automation. A bunch of tiny-size automated trades produced the...

Yes, I've already accepted I put on more size than I should be comfortable with, but you are making it look like it's the notional value that determines the risk.

What's all this talk about leverage on a simple options play and controlling 30K shares? This is options not futures! Does anyone think if I bought 100 GOQBT (GOOG FEB 700 CALL ) @ 60cents (current quote), therefore paying $6K on a 310K account or about 2% of account, that I am having an insane...

Sad story, but that insanity occurred only intra-day, and EOD I was flat. Besides, even after the last entry in the options, my size was 147K (about 35% of account). Not to justify my action, but I KNEW I had to stop. I could easily have added extra. Piece of belated consolation for me: BIDU...