Taking 103K to 1.2million by Year End 2008
- Thread starter neke
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I don't thinks so much that Port1385 doesn't believe.....the best way to see "authenticity " is to have it audited by a third party, and even that one should be cautions.
I believe that its is authentic, it would not hurt my feelings if he was lying about it
You certainly have a point there. There are opportunities being thrown out now every day that at other times happen maybe once in 2 weeks. I've always told myself the difficult task is "abstaining from trades". Trying to trade when no trades with clear edges are there wears down the account through various means: whipsaws, leverage handicap, bid/ask spreads (especially options). Avoiding those edgeless trades while waiting for the opportunities is the big task that I keep focused on.
NEKE does have a TRADING BUSINESS...if he didn't treat it like a business, I be truly believe that he would have been out long time ago.
So to answer you back, you are the CLOWN here in ET. Show me a man or woman that trades for fun and not as a business and I will show you a man that is homeless and broke because he was trading NOT for business.....damn daniel33, do you even realize even what Daniel means?
I really do wish you the best
I dont doubt the authenticity nor do I believe its authentic. I take a neutral approach to things I read over the internet.
The authenticity is not the point of why I am reading the piece. I will never meet Neke and at the same time I just dont care if Neke makes a zillion or loses a zillion. What he does doesnt effect my life...
However, the valuable piece is the lessons learned. If its fact or fiction, there are still lessons to be learned. I believe that is the real reason why Neke is posting his journal here so others can take away something from it.
The authenticity is not the point of why I am reading the piece. I will never meet Neke and at the same time I just dont care if Neke makes a zillion or loses a zillion. What he does doesnt effect my life...
However, the valuable piece is the lessons learned. If its fact or fiction, there are still lessons to be learned. I believe that is the real reason why Neke is posting his journal here so others can take away something from it.
This is an example of what I call the "leverage handicap". You are shorting a stock in two trades. The stock goes from 120 to 100 in the first trade, and then back to 120 in the second trade. You would think that is a break-even trade (minus commissions). But it is not, especially if you go with leverage like I do.
At the first trade, with a balance of say 150K in account and buying power of 300K (2Xaccount), you could short 2500 shares @ 120. You cover at 100, gaining 50K. You now have 200K and a buying power of 400K. You can now short 4000 shares @ 100. You cover at 120, losing 80K. On the whole you have lost 30K (20%) through pure stock volatility. Does not really matter whether the stock goes down first and up or the reverse.
So to make it in those times, your edge need to be stellar.
At the first trade, with a balance of say 150K in account and buying power of 300K (2Xaccount), you could short 2500 shares @ 120. You cover at 100, gaining 50K. You now have 200K and a buying power of 400K. You can now short 4000 shares @ 100. You cover at 120, losing 80K. On the whole you have lost 30K (20%) through pure stock volatility. Does not really matter whether the stock goes down first and up or the reverse.
So to make it in those times, your edge need to be stellar.
A low volatility environment is easy to make money. You just hav e to make more smaller trades which are easier to predict then these big foul swoops. I doubled my money in about 3 months from daytrading CSCO exclusively during 2001 and 2002. At that time, I remember it wouldnt have a great range, but its path was very predictable. I made numerous daytrades each day compounding with each trade.
Neke's style is the homerun trade. He is looking for that homerun.
To each his own, but I really believe the best approach to trading is low volatility daytrading where you make several highly probable trades each day compounding your results constantly. Its boring, but it makes the cash reliably each day.
In Neke's style of trading, your going to have deep swings to the upside and then to the downside.
BTW, thought I might give you a few hints with the below penny stock that I have been trading. Im just going to post up the chart and you can figure out the rest.
Neke's style is the homerun trade. He is looking for that homerun.
To each his own, but I really believe the best approach to trading is low volatility daytrading where you make several highly probable trades each day compounding your results constantly. Its boring, but it makes the cash reliably each day.
In Neke's style of trading, your going to have deep swings to the upside and then to the downside.
BTW, thought I might give you a few hints with the below penny stock that I have been trading. Im just going to post up the chart and you can figure out the rest.
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