2012: The Battle for Survival
- Thread starter neke
- Start date
- Status
Neke,
Last year you posted a similar one line post, another mid week newsflash saying 'Tragedy has struck'
That one turned out to be a 30K loss day capping off a 121K down month (june 2011), how bad is this one?
http://www.elitetrader.com/vb/showthread.php?s=&postid=3222121&highlight=tragedy#post3222121
I would guess 50% of the account = $100k.
What are you going to do?
Random guess.... $118k
I was going to say 'I probably won't even bother to throw in a couple of possible points to consider into the mix, given your listening record' but thought that might be a tad harsh.
I hope the trolls stay off the thread ... no GSC please
Random guess.... $118k
I was going to say 'I probably won't even bother to throw in a couple of possible points to consider into the mix, given your listening record' but thought that might be a tad harsh.
I hope the trolls stay off the thread ... no GSC please
I'm going to bet this was at least a 20% hit. 50% would be for much less capitalized traders, and while neke's aggressive, it would be uncharacteristic of him to put that much on options.
Although I still get a laugh whenever I hear about the $5 otm goog option with 3 hours to expiration.
You did use the word "destroyed" though. OK, I revise my guess: 30% = $60k.
. 
Weekly Update for week 6/50 ended 2/25/2012
Appalling week, down 15K (7.7%).
The disaster was on Wed with FIRE. Shorted at 41.78 as the stock popped at the open, added more at 42.7, and more at 43.3, total 7000 shares. Closed near the end of day at 45.3, losing 15K. Shows how easy it is to destroy when I go outside the boundaries of what is allowed. First the strategy is one of those that have been disallowed. Second the total size exceeded the permissible maximum on a trade. My system could have closed the positions immediately on either count, but alas that was a day the system chose to malfunction: apparently the socket I was using to send orders got broken. Rest of the week was spent bouncing up and down.
Appalling week, down 15K (7.7%).
The disaster was on Wed with FIRE. Shorted at 41.78 as the stock popped at the open, added more at 42.7, and more at 43.3, total 7000 shares. Closed near the end of day at 45.3, losing 15K. Shows how easy it is to destroy when I go outside the boundaries of what is allowed. First the strategy is one of those that have been disallowed. Second the total size exceeded the permissible maximum on a trade. My system could have closed the positions immediately on either count, but alas that was a day the system chose to malfunction: apparently the socket I was using to send orders got broken. Rest of the week was spent bouncing up and down.
Code:
2012-02-22 09:35:45:Autoclosing disallowed setup:FIRE
2012-02-22 09:35:45:Closing Position:
2012-02-22 09:35:45:COVER 3000 FIRE
...
2012-02-22 09:35:46:ERROR:Order ID: - An account id is required for this order.
Code:
Opening Balance: 198,303
Net loss for the week 15,291
------------------------------------------------
Net Balance: 183,012
Since Inception of Thread 01/18/2012 - 02/25/2012
Opening Balance: 203,729
Net loss (14,717) (down 7.2%)
Cash Withdrawal (6,000)
------------------------------------------------
Net Balance 183,012- Status