2011: Rebuilding My Battered Account

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Not true. If you have a wining edge it will work in all asset classes including stocks, options, and futures.

Why would you want him to go for more leverage on a losing streak is beyond me?

Futures are good if you are short of cash. If you have over $ 100,000, you can easily make good money trading stocks or options.

You also have to remember his trading was designed to make a ton of money for example $ 1 million. You will need to take on higher risk than going for say $ 500 a day.

Assuming he is still going for $ 1 million, you are going to have large draw downs.



Quote from Jestersofmalice:

what about trying to daytrade futures for a while and see how you get on? A change is as good as a rest?
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Yeah that's a wonderful idea. He isn't losing his money fast enough with stocks and options why not try futures?

Quote from Jestersofmalice:

what about trying to daytrade futures for a while and see how you get on?
More...
 
back to the basics would be key, and better yet, back to a your old career would be smartest, why not before the big 0 comes leave trading and rebuild the humble way. this is what i have decided is the smartest decision. take it for what its worth. its not over, but a good break and a refresh of making money like the average joe will certainly enable some true soul searching. neke. wake the f up. its time. and its never too late to come back.
 
Quote from neke:

Weekly Update for week 37/50 ended 9/24/2011

Another disastrous week, down 22K (11.4%).


It's been a horrific draw-down. My account hit a week-end balance of $635K on 10/24/2009. Adjusting for a cash withdrawal of $150K since then, the current balance is down 65% from the adjusted high of $485K. Alternatively, adding back withdrawals, the current balance would be $322K from the $635K, a drawdown of 49%. Both are well above my maximum expectation of a 40% drawdown. Will be shutting down all manual contrarian strategies, and sizing down on the automated ones even further while I explore other possibilities.


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Neke,
I believe I can help you. I'm emailing you...
 
Weekly Update for week 38/50 ended 9/31/2011


An OK week, up 4K (2.4%). Sized down, and did almost exclusively automated trades for the week. Busy developing/testing my momentum strategies that are supposed to provide a balance to my automation.


Code: 
Opening Balance:                	172,003
Net gain for the week 		          4,070
-------------------------------------------------
Net Balance:                   		176,073


Since Inception of Thread   01/8/2011 - 9/31/2011

Opening Balance:                   	335,899
Net loss (Less Margin Interest)		159,826 (Down 47.6%)
------------------------------------------------
Net Balance				176,073
 
nobody can help neke,
his strategy is no good.
I've seen a lot of his manual trades, not following basic trading rules, what he needs to do is re-learn the trading BASICS.
instead of gambling or leaning on algorithims.

buy low sell high, remember the basics.
 
Quote from neke:

Weekly Update for week 38/50 ended 9/31/2011


An OK week, up 4K (2.4%). Sized down, and did almost exclusively automated trades for the week. Busy developing/testing my momentum strategies that are supposed to provide a balance to my automation.


Code: 
Opening Balance:                	172,003
Net gain for the week 		          4,070
-------------------------------------------------
Net Balance:                   		176,073


Since Inception of Thread   01/8/2011 - 9/31/2011

Opening Balance:                   	335,899
Net loss (Less Margin Interest)		159,826 (Down 47.6%)
------------------------------------------------
Net Balance				176,073
More...

I would not call stepping out in front of a freight train as a balance for automation. You obviously don't understand the reason behind automation if you are thinking that.
 
Quote from cooolweb:

nobody can help neke,
his strategy is no good.
I've seen a lot of his manual trades, not following basic trading rules, what he needs to do is re-learn the trading BASICS.
instead of gambling or leaning on algorithims.

buy low sell high, remember the basics.
More...

Nail on the head. Nothing else to say. He has no edge in his manual trades and the risk he takes based on what I have seen in the past is way too much for his account size. At the end, it will take blowing out his account to realize this.
 
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