i think he is still ok but too busy to post or other matter to attend to, as previously whether it is very good or very bad, he will still post...
2011: Rebuilding My Battered Account
- Thread starter neke
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Weekly Update for week 36/50 ended 9/17/2011
Disastrous week, down 14K (6.8%).
Was positive going into Friday, up +6K for the week, then got smoked for a total of 20K on two option positions. Just haven't learnt my lesson on position size on expiration day. Got so demoralized I did not want to look over my statement or post here. Yes, I have dreaded going below the 200K mark, but here I come. Will be cutting size once again on my option positions, while I mull over this prolonged draw-down. Everything I touch at the moment turns to smoke, while the would-be good positions I do not even stay to reap the gains, or my system malfunctions at the wrong time.
Disastrous week, down 14K (6.8%).
Was positive going into Friday, up +6K for the week, then got smoked for a total of 20K on two option positions. Just haven't learnt my lesson on position size on expiration day. Got so demoralized I did not want to look over my statement or post here. Yes, I have dreaded going below the 200K mark, but here I come. Will be cutting size once again on my option positions, while I mull over this prolonged draw-down. Everything I touch at the moment turns to smoke, while the would-be good positions I do not even stay to reap the gains, or my system malfunctions at the wrong time.
Code:
Opening Balance: 208,425
Net loss for the week 14,178
-------------------------------------------------
Net Balance: 194,247
Since Inception of Thread 01/8/2011 - 9/17/2011
Opening Balance: 335,899
Net loss (Less Margin Interest) 141,652 (Down 42%)
------------------------------------------------
Net Balance 194,247Neke,
Good to read you are saying you are cutting back size, but losing 10% of your account in one day when you are already down over 50% from peak equity is just bad risk and money management.
Trade the way you did when you were growing your equity upwards, only trade smaller now.
What are you doing in your trading that is different now from three years ago?
As far as i can tell the markets havent changed much since then?
Good to read you are saying you are cutting back size, but losing 10% of your account in one day when you are already down over 50% from peak equity is just bad risk and money management.
Trade the way you did when you were growing your equity upwards, only trade smaller now.
What are you doing in your trading that is different now from three years ago?
As far as i can tell the markets havent changed much since then?
Quote from neke:
Weekly Update for week 36/50 ended 9/17/2011
Disastrous week, down 14K (6.8%).
Was positive going into Friday, up +6K for the week, then got smoked for a total of 20K on two option positions. Just haven't learnt my lesson on position size on expiration day. Got so demoralized I did not want to look over my statement or post here. Yes, I have dreaded going below the 200K mark, but here I come. Will be cutting size once again on my option positions, while I mull over this prolonged draw-down. Everything I touch at the moment turns to smoke, while the would-be good positions I do not even stay to reap the gains, or my system malfunctions at the wrong time.
Code:Opening Balance: 208,425 Net loss for the week 14,178 ------------------------------------------------- Net Balance: 194,247 Since Inception of Thread 01/8/2011 - 9/17/2011 Opening Balance: 335,899 Net loss (Less Margin Interest) 141,652 (Down 42%) ------------------------------------------------ Net Balance 194,247
i for one, among many, was demoralized and grieved.... won't want to tell you what to do.... you are the master of your own house....
but do something, such as leave the trading and surroundings for a while....
neke, better trade and position.... down the road, ok?
wish you much better trades and much more profitable days ahead.
Quote from neke:
Weekly Update for week 36/50 ended 9/17/2011
Disastrous week, down 14K (6.8%).
Was positive going into Friday, up +6K for the week, then got smoked for a total of 20K on two option positions. Just haven't learnt my lesson on position size on expiration day. Got so demoralized I did not want to look over my statement or post here. Yes, I have dreaded going below the 200K mark, but here I come. Will be cutting size once again on my option positions, while I mull over this prolonged draw-down. Everything I touch at the moment turns to smoke, while the would-be good positions I do not even stay to reap the gains, or my system malfunctions at the wrong time.
Code:Opening Balance: 208,425 Net loss for the week 14,178 ------------------------------------------------- Net Balance: 194,247 Since Inception of Thread 01/8/2011 - 9/17/2011 Opening Balance: 335,899 Net loss (Less Margin Interest) 141,652 (Down 42%) ------------------------------------------------ Net Balance 194,247
VERY difficult to get out of spirals... remember your cup is still HALF FULL rather that half empty but mentally it is hard not to fear going down further rather than "I have a 200k account and it's up from here". This is why some here have recommended you take time off for a mental reset... but you are hooked on trading...
REMEMBER, any account, regardless of size CAN be lost.. 200k is well worth guarding and is an excellent starting point once you mentally recover... and you can't do that while trading, in this case.Until you REALLY start doing very different things your results won't change unless you get lucky but that won't be trading.
Stick to the plan. There's no other way.
If you succeed in sticking to the plan you CAN recover. If you won't stick to the plan you WILL lose more.
Thanks for your honest posts. Hope you get it back.
If you succeed in sticking to the plan you CAN recover. If you won't stick to the plan you WILL lose more.
Thanks for your honest posts. Hope you get it back.
Somehow i got a feeling you can make it back to even just before year end of 2011...
tradeslair:
just where did you learn how to trade sir/madam?
any half decent trader will not advice another trader to carry on....
to continue to trade on the original plans.... when the immediate preceding trading results showed that the preceding decisions put traders on the wrong side of the market depleting the capital severely....
any experienced trader will tell you that before placing an order, the first order of thing is to calculate your risk.... NOT THE PROFIT like most beginners do when going long or short....
when a trader for some unpleasant and unknown reasons accumulates a few losses in succession.... it is time that the particular trader ought to cease and decease from trading temporarily....
in order to reexamine the trading plans that put him at the wrong side of the market, to revise his trading strategy, or perhaps to go to sim to reconstruct, recuperate and recharge and finally revise his trading strategy....
to continue to trade with the same strategy and to trade in the same manners.... is like to challenge the market and to prove that the market is wrong and that your decision, your plan, your strategy et al are correct and are on the right course....
neke is not a beginner and therefore the above is not applicable. besides, neke has been good and profitable before, am sure he/she will recover to trade and to get back on the right side of the market again and soon....
my humble advice to traders who have not yet realized it before, that the first order of trading and survivalship is the preservation of your scare resources, so you may be able to continue to execute your favorable trading plan and strategy tomorrow....
neke, there are plenty of opportunity ahead, with a revised strategy coupled with the current market conditions, you could very well be able to recover within a few short months.... we did accumulate around middle six-figure from the last 4 weeks alone. and neke, you could do the same or perhaps even much better.... is my one man humbled opinion.
all the best, neke. and thx much for sharing the painful experiences with us. i think all of us have gone down that agonizing stretch of journey in trading before and we survive.... i'm sure you would survive to, to trade profitably and consistently another day.... again all the best, neke.
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