Taking 103K to 1.2million by Year End 2008

Status
Not open for further replies.
Quote from IcyTrade:

Neke where did you learn how to do all this???? You are one of the best traders ive seen. I am relatively new to the market and am very young. I want to learn. I have a lot to learn. I need some kind of guidance.
1. Do you have any tips, sites, books that will hlp me?
2. Is it too risky for me to invest at this time?
More...

Just a repeat of what I wrote in some other place:

I learnt to trade by of course trying and failing over the four years from end 1999 to November 2004 when I bottomed. It was after I started keeping detailed records and analysing things I began to develop strategies I thought could work.

If you are new, I guess it will take time to read and digest some of the books and online material on trading and learning to apply them by yourself. Unfortunately I am not in a position to advise whether you should invest at this time or not.
 
Quote from blackjack007:

the people who say it's doable are living in fantasy land.

to get 5% per week, you must take enormous risk. all it takes is one 30% drawdown and your annual goal is toast. you think you can string together 52 straight wins @ 5% each? GOOD LUCK.

and psychologically, losing 30% of 150k is entirely different than losing 30% of 850k. if/when you have that much, will you have the fortitude to continue taking the risks necessary to return 5% per week?

i predict first massive drawdown by april 2008 at the latest.

this is nothing more than a gambling journal.
More...

No, I do not envisage stringing 50 weeks of 5% each. What I said is an average of 5%. If you followed last years figures, it ranged from minus 50% week to +70% week. I shall try to manage the volatility, but no it is not possible to have 5% steady returns like a CD deposit (0.06% a week). Draw-downs are part of the game.

It is a trading journal. Trading involves speculation. If that is what you call gambling, fine. It is not to me: I am not just throwing darts!
 
Quote from jreynolds212:

Neke,

Why not take your original investment out once you double your cash and place it away in a semi-safe interest bearing account?

I know how you feel about the "edge", but when you hit 240k last time then you tumbled back down. Eventually you ended up with a great return, but you were still way down off your high.

You want to be a showman here on Elitetrader and reach your goal, but dont be foolish.
More...

Last year, started with 76K, and withdrew 82K before end of journal, with another 30K after the end. That means the original investment was already out. I stagger the withdrawals: I guess that is the difference.
 
Quote from neke:

No, I do not envisage stringing 50 weeks of 5% each. What I said is an average of 5%. If you followed last years figures, it ranged from minus 50% week to +70% week. I shall try to manage the volatility, but no it is not possible to have 5% steady returns like a CD deposit (0.06% a week). Draw-downs are part of the game.

More...

if your weekly average is +5%, you will not necessarily compound 103k into $1.2m. you'll likely fall short. you need to get exactly 5% each week with no drawdowns to reach $1.2m.
 
Quote from blackjack007:

if your weekly average is +5%, you will not necessarily compound 103k into $1.2m. you'll likely fall short. you need to get exactly 5% each week with no drawdowns to reach $1.2m.
More...

I said compounded average, and I meant it
 
Quote from blackjack007:

this is nothing more than a gambling journal.
More...

There is more than a little bit of irony in someone who goes by the name of blackjack007 calling this a gambling journal.

You have made your point, and neke gave you the appropriate response.

OK.
***
Now we all know he needs to average 5% per week over the stated time period to make his goals ... that means some weeks he could get +35% and the next two weeks he could be down 10% and 5% respectively and still be ahead of the game.
***
Now lets all sit back and see if he can do it.

I certainly hope so, as I also hope for me and everyone else to accomplish their trading goals for 2008.
 
OK, I will join your ride.
BTW, I noticed there are some ECN brokers around, would you consider use an ECN broker, since they usually offer a cheaper fee.
 
Quote from neke:

No, I do not envisage stringing 50 weeks of 5% each. What I said is an average of 5%. If you followed last years figures, it ranged from minus 50% week to +70% week. I shall try to manage the volatility, but no it is not possible to have 5% steady returns like a CD deposit (0.06% a week). Draw-downs are part of the game.

It is a trading journal. Trading involves speculation. If that is what you call gambling, fine. It is not to me: I am not just throwing darts!
More...

Great answer and response. It had become clear from this thread and the last I read ('07) that you have given the whole process much thought and are trading within your risk tolerance. I am happy to see you are minimally affected by comments from others. Stay true to yourself, as that is the only way to trade with conviction!:)
 
Status
Not open for further replies.
Back
Top