Taking 103K to 1.2million by Year End 2008

Status
Not open for further replies.
Quote from neke:

Weekly Update for week 9 ended 03/15/2008

Ugly week, down 12.3K (10.5%). Two days of madness on Wednesday and Thursday wiped out almost all the gains for the last several weeks.

On Wednesday, shorted BIDU and bought puts on the same stock - too leveraged, as I thought the market would come down. The market indeed came down, but not BIDU which continued to climb. Finally after getting out by 3.20pm, it pulled back a bit at the end of the day. Lost 9K in option and 4K in stock. On Thursday was suckered into buying puts on the SPY, and watched in horror as the market rebounded from the lows. Also whipsawed on SIGM the same day.

Tough to see several weeks of baby steps forward wiped out with one step backward. I am going to jettison some strategies that have proven a drag on my performance, while giving attention to what works.


[/code][/font]
More...


Trying to short BIDU on Tuesday and Wednesday was like harakari a with long steely knife. Donot you see and look at charts? BIDU broke out from long cup shaped base? It was symmetrical triangle with small pivot point prior to that.

Bidu does not sells off with the market. It stays green during horrific sell offs. Very powerful stock.
 
Quote from HedgefundTrader2:

Trying to short BIDU on Tuesday and Wednesday was like harakari a with long steely knife. Donot you see and look at charts? BIDU broke out from long cup shaped base? It was symmetrical triangle with small pivot point prior to that.

Bidu does not sells off with the market. It stays green during horrific sell offs. Very powerful stock.
More...

I didnt short on Tuesday. I did on Wednesday in anticipation of the end of the rally.
 
Here's what I surmise hurts us from time to time.. Personal Opinion and beliefs.. Neke.. you must think BIDU has no business priced where it is, therefore you try to "defeat" the stock. Same thing with those shorting Oil, Gold or Buying Financials..
 
Excellent post and point.
What you just pointed out is a common death sentence for traders and a common mistake of many. Prices can run a long long time in either direction defying any logic (never apply it) or rational pricing.



Quote from retire45:

Here's what I surmise hurts us from time to time.. Personal Opinion and beliefs.. Neke.. you must think BIDU has no business priced where it is, therefore you try to "defeat" the stock. Same thing with those shorting Oil, Gold or Buying Financials..
More...
 
Quote from retire45:

Neke... I share you pain on BIDU..:mad:
More...

Yes the damn thing is collapsing now without support after forcing me to cover at a loss
 
And I completely forgot to set a short trigger under the pretty trendline I drew.. Was so busy looking for longs when I should've been looking for shorts.. It is why it is said markets are rigged against shorts.. the counter-rallies are so vicious and convincing...

It seems more often than not your trades travel in the intended direction after taking your money.. food for thought.
 
Your BIDU March 260 PUTS (BDUOV) would have been worth 100K today had you held. If only someone had tomorrows newspaper today you could turn 1K into a billion in a month.

Would you guys rather have that or the power to turn invisible?
 
Weekly Update for week 10 ended 03/22/2008

Another bad week, down 6.4K. Made some error of judgement in my discretionary trades and my automated did not fare much better.

The worst was shorting GS after their earnings release on Tues on some strange impulse (I guess I can attribute that to the sentiment in the market being negative). Within two minutes of that, I was already regretting doing that, but I was off driving to work. By the time I got to the office and logged in, was already down 4.5K.

Will give extra effort to getting more automated stuff going. That is my strategic direction: removing as much discretion as possible.

Code: 
Balance B/F:                   	    	106,100
Net loss for the week 		         -6,421
------------------------------------------------
Balance C/F:                   		 99,679
Number of Trades	            	 21
Number of Profitable Trades    	    	 11

Since Inception of Thread   01/13/2008 - 03/21/2008

Balance B/F:                   		102,615
Net loss (Less Margin Interest)		 -2,936
------------------------------------------------
Balance C/F:                   		 99,679  (Down 2.9%)
Number of Trades	           	196
Number of Profitable Trades        	113

Expected Balance at this time to be on track for Year-End Target : 
			       167,817

Status:			       Behind Target		(Based on adjusted balance before withdrawals)

Top/Bottom Discretionary Trades for the week

TICKER	ENTRY DATE/TIME		EXIT DATE/TIME		QTY	PURCHASE AMT	SOLD AMT	GAINS/LOSS	TYPE

POT	2008-03-20-09-32-58	2008-03-20-11-06-25	600	82524		87048		4503		LONG
-----------------------------------------------------------------------
GS	2008-03-18-08-15-50	2008-03-18-09-36-01	1500	246356		241931		-4478		SHORT
 

Attachments

Quote from WallStWhizKid:

Your BIDU March 260 PUTS (BDUOV) would have been worth 100K today had you held. If only someone had tomorrows newspaper today you could turn 1K into a billion in a month.

Would you guys rather have that or the power to turn invisible?
More...

Invisible, always wanted to be invisible. Just think what you can get away with.
 
Status
Not open for further replies.
Back
Top