2011: Rebuilding My Battered Account

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Quote from neke:.
The other area I will spend time on is speeding up the process of disengaging from all purely discretionary trades: At the end of the process I will only have these three categories of trades: automated trades (initiated and monitored by the system), mechanical (suggestions to initiate trades based on mechanical rules which I can take or not), pre-planned day trades(positions whose criteria for entry /exit are defined before the market starts) for which the system ensures any trades initiated is based on those plans - no changes to those plans permitted once market starts, only cancellation.
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That's totally awesome right there, Neke. Good luck! Now I'm betting on a breakout pattern for your equity curve! :)

+-*/ Math_Wiz
 
Quote from rallydog:

Have to agree with you. We've seen Neke turn in a dreadful week only to pull it out. He's a big boy and can take care of himself.
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then, by all means go for it peddle to the metal. No pain, no gain. Lol.
 
for the gamblers in the casino. the rules are clear & everyone has a fair shot to make a profit. the rules are in black & white with each game & the casino control commission ensures a fair game is available to every player that walks through the door under their supervision. At least in table games . good luck finding that on wall st as a trader. its pure chaos . trading your going to get fleeced most of the time. skilled players at the casino have a opportunity to grind out profits on a level playing field. just a observation in comparing the two different structures with someone risking their money. most participate in a honest game with gambling in most casino's. gambling is not all bad.. it's how one approaches it that makes the difference.
 
neke has a full time,i assume well paying job,that acct may be 2 or 6 months salary,so 50k hit might be another traders 5 k,until this is disclosed its hard to put into context,all the negative posts on here about large hits ,going broke,are being made with little info
 
Quote from Appleseed:

and added another 300 contracts at 1.85
NEKE
------------------------.............................................................

WHICH ADDED ANOTHER 55.5k

cheers
john
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I didn't think I'd ever see someone buy 110k worth of options with two days until expiration. :eek:
 
Neke,

Options are safest & provide a mcuh better return on margin when you hedge your positions. Please consider implementing strategies that allow you to swing trade (i.e. weeks or months) hedged option positions.

IMHO, hedging is the next best thing to a crystal ball. Iti's my only edge.

Btw, I'm not refering to the baic spread strategies (i.e. verticals, calendars, ICs, Flys), although there are opportunities if such strategies are managed properly.

Walt
 
neke is a gambler most would agree with. he like's to play those options. not usually the choice for smart traders with a 300,000 k account . stocks are the pure play that most traders prefer.. your going down a dangerous road to financial ruin unless you change your strategy .. gambling at a casino you would at least get free meals & drinks for your troubles. you had a good run.. nothing last forever.
 
I traded similarly to neke a couple years ago. $300K account, and frequently used margin to trade more than $200K at a time. There were big gains, and big losses. Constantly made tweaks to my "system", even though there wasn't really any system. Of course the winning trades gave me hope, and I didn't really pay much attention to the losing trades, which clearly indicated that I should have quit. Another thing that didn't help was to suffer a 50% drawdown, only to have a huge lucky streak to bring myself back to almost break even. Of course that made me think I knew what I was doing. Obviously not though, as I then proceeded to have a 93% drawdown after that. At that point I had to stop, as there wasn't any capital left! Looking back on it, I was definitely gambling.

Neke seems to be a little better at this than I was, but that might be a bad thing. At least I blew out and could move on with my life.
 
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