Taking 103K to 1.2million by Year End 2008

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Neke,
AT the start of the year you posted this:
For my current year expectations, I have modelled my strategies for about 400 trades (about a third of the number of trades I did last year). There were just too many ill-conceived trades that dented my account.

Do you feel like you still entered too many trades or did the increase in the VIX change the overall trading plan, i.e. more set ups you look for?
 
Quote from geez:

Neke,
AT the start of the year you posted this:
For my current year expectations, I have modelled my strategies for about 400 trades (about a third of the number of trades I did last year). There were just too many ill-conceived trades that dented my account.

Do you feel like you still entered too many trades or did the increase in the VIX change the overall trading plan, i.e. more set ups you look for?
More...
Sure, I still feel I placed too many trades (1146 as of last week-end). When I look at my trades, the top 4 strategies, with a total of about 300 trades, would have more than accounted for all the gains. Could I have known ahead those strategies are sufficient at the beginning of the year? probably not, although I knew their potential. So I shall try and keep the "edge-less" trades to a minimum and reduce their impact on the account, while emphasizing what works, and keep re-evaluating and revising all strategies. There are some strategies that for all practical purposes I don't trade anymore, because there is no evidence of an edge from the live trade data.
 
Big Congratulations Neke !

Hope you take it to $1,000,000 in 2009 !

You've got big balls, pal. I love your mindset, too - lost 60k one week - no fucking problem - get em next week. 500% return ytd -what more could you really ask for? Keep it coming.



hammer
 
Quote from neke:

The automated stuff just weren't delivering as much as expected (pretty hard to replace me with a machine!), so had to stop them. Could have been wrecked with the extreme volatility in September/October: so in hindsight, it was the right thing to do. As long as I do not fall to rule violations and lose a bunch, I shall keep off from a rush to blanket automation.

Hmm. Next year, we shall see when we get there.

Merry Xmas
More...

Congrats Neke.

Everyone keeps saying that discretionary traders (non-automated) are at a big disadvantage. If you are doing automated trading. What types of tools do you utilize (ie TradeStation, Ninja Trader, etc)
 
Weekly Update for final week 50 ended 12/27/2008

An OK week, up 15K (3%). Traded Mon, Tue and Fri(one trade) on this holiday-quiet week. Just wanted to end the year on a high, and didn't hold on long to any position.

Glad to have pulled off a year(1/13/2008-12/27/2008) with a 458K (447%) gain. Pleased as well to have the huge increase in volatility in the later part of the year that greatly improved the rate of progress. The year has highlighted the need for me to keep off trading if the opportunities are not there. For the first half of the year, there were a few strategies that were bringing in the money, while the others were destroying it. I have subsequently cut down on a lot of strategies while looking for / refining methods with an edge. This is going to be a continuous process as I go into the new year.

Will pull out 175K in the next few days, leaving 360K to begin the new year.

Wishing all of you a happy new year.

Code: 
Opening Balance:               	    	520,428
Net gain for the week 		         15,385
------------------------------------------------
Net Balance:                   		535,813
Number of Trades	            	 9
Number of Profitable Trades    	    	 8

Since Inception of Thread   01/13/2008 - 12/27/2008

Opening Balance:                   	102,615
Net gain (Less Margin Interest)		458,198
------------------------------------------------
Balance Before Withdrawal:            	560,813  (Up 447%)
Cash Withdrawal				-25,000
------------------------------------------------
Net Balance				535,813

Number of Trades	           	1153
Number of Profitable Trades        	 686



Top/Bottom Discretionary Trades for the week

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

AMAG	2008-12-23-09-30-25	2008-12-23-10-05-05	15000	473323		482055		8729		LONG
-----------------------------------------------------------------------
GW	2008-12-22-09-09-13	2008-12-22-09-53-23	10000	37998		36000		-1998		LONG

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Quote from sophiekay:

Congrats Neke.

Everyone keeps saying that discretionary traders (non-automated) are at a big disadvantage. If you are doing automated trading. What types of tools do you utilize (ie TradeStation, Ninja Trader, etc)
More...

I think more people believe automated traders are at a disadvantage.
With automated trading you need to keep volatility in control with mechanical tools, with discretionary, only your emotions. It is funny the one strategy's weakness is the other strategy's strength and vice-versa
 
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