2011: Rebuilding My Battered Account

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Weekly Update for week 26/50 ended 7/08/2011

Flattish week, down $544 (0%).

First week of putting my system in place. Glad played according to script. Lost 2.4K in one automated trade, break-even on one discretionary trade, and made 1.9K from 5 experimental trades (the ultra-low size trades allowed just to break the boredom) including the 1.7K from NFLX mentioned earlier.




Code: 
Opening Balance:                	220,644
Net loss for the week 		            544
------------------------------------------------
Net Balance:                   		220,089

Number of Trades	            	  7
Number of Profitable Trades    	    	  3


Since Inception of Thread   01/8/2011 - 7/8/2011

Opening Balance:                   	335,899
Net loss (Less Margin Interest)		116,081 (Down 35%)
------------------------------------------------
Net Balance				220,089

Number of Trades	           	 510
Number of Profitable Trades        	 265

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Don't know if anyone's been in thse types of trades before:

1. Make a few K's in a stock, get greedy and trade it with bigger sizes, suffer large net loss in the end.

2. Lose a few K's in a stock, become cautious and average up. Net a large profit in the end, despite initial loss?
 
It makes one want to puke. Trading is the hard, cold business world personified and multiplied. Individuals need to take a hard look at this 30% 1 month drawdown and learn from it. A textbook case of lax discipline and recklessness. If my system did this to me, I believe I would find the weaknesses or scrap it. I hate to come across as a harsh critic and maybe you high-rollers don't care, but this is painful to watch. With that being said, best wishes for turning it around, and building the account slowly and methodically.
 
Quote from neke:


Lost 2.4K in one automated trade, break-even on one discretionary trade, and made 1.9K from 5 experimental trades (the ultra-low size trades allowed just to break the boredom) including the 1.7K from NFLX mentioned earlier.
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How did Neke turn 10K into 500K (or whatever the exact figures are).

What was the style of trading he used?

Why cant he continue to use that style?

Does it no longer work?
 
Quote from Millionaire:

How did Neke turn 10K into 500K (or whatever the exact figures are).

What was the style of trading he used?

Why cant he continue to use that style?

Does it no longer work?
More...

Edge or no, it's one thing to trade intraday with 10k capital and another with 500k. Someone willing to lose 20k on any given position will attract alot more attention than someone else willing to lose just 500.
 
What neke really needs to do is just stop posting. He obviously doesn't want advice on his trading, so I really don't know why he even bothers to report his results.

Who cares what a bunch of internet posters think.

Just focus on your trading.
 
Quote from western:

What neke really needs to do is just stop posting. He obviously doesn't want advice on his trading, so I really don't know why he even bothers to report his results.

Who cares what a bunch of internet posters think.

Just focus on your trading.
More...

perhaps he keeps a public log of his performance for his own reflection?
or perhaps in the hope that in the mass of responses some of them offer some genuine useable insight?
We can but ponder upon the mystery of neke...
 
Just read the latest few NoD posts on my weekly search of her ID. It seems Blotto and John12 made a great tag team to rough Donna up and show her whose who in the pecking order.

Donna, I don't care if you make $200 or $1000 or $5000 or $10,000 a day average on the CL. Your enthusiasm and love of trading is always welcome. You've been nothing but kind, considerate and polite in your contributions and to all of those who have asked anything of you.

The ability is within you and you'll (eventually) find that scaling in during a strong trend is the way to still have arithmetic losses on your initial capital while converting your gains to geometric levels. It just takes time to get emotionally adapted to such a trading approach [hint: in a strong CL trend, whether you just layout a pattern of buy stop or sell stop orders ahead of price, separated by either time (e.g., 5 min closes) or space (e.g. X ticks apart to ensure your avg isn't near current price action) or new breaks of S/R levels on the way to a target, it's ALL the same thing...there is point A and point B and the way in which you decide to allocate capital to reduce risk and increase reward to get to "B" is all that separates you (in trading) from the the Blotto and John12 gonads of the world.

Anyone, and I mean ANYONE who comes on a trading board, bragging about their 7-figure trading acumen and then seeks to put down a giver like Donna, who is just an "at-homer", wanting to participate in a trading social network is a low-life POS.
 
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