2014: The Battle for Survival

[trickshot]

Lucky for 7 years? Have you ever day traded? I don’t even think winning for several months is lucky. 90% of the day traders lost money, winning for 7 years is extremely talented and skilled in my opinion!

Didn't you read my post earlier? I said I also daytrade, but only when market conditions favor daytrading i.e 2008, 2020. Any decent daytrader would have printed money last year, its clear that neke's outsized gains in 2008/2009 was pure luck since he failed to capitalize on what was one of the greatest opportunities (covid crisis) for daytraders.

And a 7 year run doesn't prove anything, I've been in this business for 16 years, you can get lucky with a strategy for years without realising its just luck. Its a brutal business, only the fittest survive over the long run.

 

[freeman311122]

Didn't you read my post earlier? I said I also daytrade, but only when market conditions favor daytrading i.e 2008, 2020. Any decent daytrader would have printed money last year, its clear that neke's outsized gains in 2008/2009 was pure luck since he failed to capitalize on what was one of the greatest opportunities (covid crisis) for daytraders.

And a 7 year run doesn't prove anything, I've been in this business for 16 years, you can get lucky with a strategy for years without realising its just luck. Its a brutal business, only the fittest survive over the long run.

The success of day trading is not related to the overall market conditions! There are always stocks with high volume and the right volatility every day to day trade no matter what the overall market conditions are.

 

[neke]

------------------------------------------
Period Update 01/02/2021 - 04/03/2021
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Nice quarter, up 32,238 (30%)

Started the year on a bad note on 4th Jan, losing 19K on the day. I believe that was a result of getting into the year dreaming of a big result without outlining how. A few more losing days, and I sat down on 16th and drew up a plan to make 50K for the year (very low I know), and the strategies to achieving that. Took care of the problem of occasionally doubling/quadrupling down and over-trading, while allowing for discretionary trades to continue (just know that all-out automation has not been the answer as I feel I was leaving out a lot). Good thing, it has worked so far. Look forward to continuing this and building up my account.

For 2021

Starting Balance: 106,668  Cumulative P/L: 32,238
Start Date  End Date       P/L  Withdrawal  Closing Balance


2021-01-04  2021-02-01   -24102   0             82,566
2021-02-01  2021-03-01    49878   0            132,444  
2021-03-01  2021-04-05     6462   0            138,906

 

[Math_Wiz]

Awesome, Neke.

 

[DblArrow]

That initially looks likes some good modifications. Good for you.

Curiosity, are your averaging down trades, that you seem to have had issues with for many years, a reversion to the mean idea or a continuation idea. Thanks.

 

[universaller]

Neke, any update for Q2?

 

[neke]

Period Update 04/05/2021 - 07/05/2021
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Down quarter, off 30K(21%)

Lost most of what I gained in the last period. Not going to over-analyze, but it appears over-trading was the culprit. My confidence in full discretionary is once more deeply tested, as the losses continued after the period. Cutting down discretionary now by 50%, as I plan to restrict further my trading - and let the remaining be auto. Too much effort, too little reward: just cannot continue this way. So I am cutting off most of my discretionary strategies going forward.

For 2021

Starting Balance: 106,668  Cumulative P/L: 2,432
Start Date  End Date      P/L  Withrawal  Closing Balance

2021-01-04  2021-02-01  -24102  0          82,566
2021-02-01  2021-03-01   49878  0         132,444   
2021-03-01  2021-04-05    6462  0         138,906
2021-04-05  2021-05-03  -19066  0         119,840
2021-05-03  2021-06-07   -2646  0         117,194   
2021-06-07  2021-07-05   -8094  0         109,100

 

[Math_Wiz]

Did you mostly play the long side or the short side during this 3-month period?

 

[Overnight]

This admission was stunning to me...

"...Started the year on a bad note on 4th Jan, losing 19K on the day."

If we assume 100K on the account, that is 19% on the account in a day. That is bad juju. I've done that before. Not a good look. Neke, I respect your journal. You've been at the journaling bit 3 years longer than I.

Dude, it is time to buy-and-hold. I call it investotradamatics. (Well, not really).

(And by the way, you are UP 25% for the year, not DOWN 21% for the quarter. )

I can see it in my head.

 

[Onra]

Respect for your honest accounts neke.
I hope you can turn the tide once again!