Taking 103K to 1.2million by Year End 2008

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Quote from trade_yse:

Thanks for posting Neke. Neke is it possible for you to continue to critique your trades like you did last year?. It kinda give the followers some insight as to what you do and why.
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Yes, I will keep posting a review of the key trades each week.
 
Quote from ForexPro:

Neke,

On your equity option plays, what expiry month do you trade? Do you ever have a problem with Day Trading Buying Power limitations?

Regards,

ForexPro
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It is normally the near month expiration. Occasionally, I do two months away, especially if it is a swing trade lasting many days.

I do not think the Day Trading Buying Power is a limitation. I use less than the maximum most of the time. If I am tempted to do more than the limit, most likely I am over-exposed.
 
Quote from neke:

I learnt Ameritrade has its own API right now.
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Can you provide more detail on this Ameritrade API? I'm interested in leveraging this in my trading, but haven't been able to find any reference to this.
 
Neke, I forgot already, how do you manage to daytrade and still have regular job. This is tough, I know from my experience.
 
Weekly Update for week 2 ended 01/26/2008

Bad result, down 10K (10%). Not a very promising start, trying to fade the bounce on Tuesday with SPY put, thinking we should surely test the lows, not to be (although it was close to that on Wed), losing 6K. Next day, tried to fade the bounce on AAPL, again losing 5K: the market was just too strong, should know better. Missed a PUT on Friday that could have made my week positive. The limit order I placed before 930 and before heading off to a meeting failed to execute by a few cents: bad week.

I hope next week brings something better.

Code: 
Balance B/F:                   		103,616
Net Loss for the week 		        -10,332
------------------------------------------------
Balance C/F:                   		 93,284
Number of Trades	            	 9
Number of Profitable Trades    	    	 6

Since Inception of Thread   01/13/2008 - 01/26/2008

Balance B/F:                   		102,615
Net Gain (Less Margin Interest)		 -9,331
------------------------------------------------
Balance C/F:                   		 93,284  (Down 9%)
Number of Trades	           	 22
Number of Profitable Trades        	 13

Expected Balance at this time to be on track for Year-End Target : 
			       113222

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

SCSC	2008-01-25-14-06-54	2008-01-25-15-55-34	1500	44983		46124		1111		LONG
AAPL	2008-01-22-16-43-04	2008-01-22-16-53-23	1000	138962		140081		1097		SHORT
--------------------------------------------------------------
AAPL	2008-01-23-14-20-53	2008-01-23-15-36-05	1000	137935		132690		-5277		SHORT
SPYNX	2008-01-22-09-48-46	2008-01-22-12-11-10	5000	20250		14200		-6145		SPY PUT
 
Just my 2 cents
but setting up based on an expected gain is most likely going to lead to bad decisions if you are trading during the day
 
Neke, it's been a really weird week, things could have gone either way no matter what.

I'm positive that in a couple of months this week will be just a blip in your performance.

All the best trading,

Jorge
 
Quote from BlindLemonBoosh:

Neke, got a graph for us?
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Graph is attached. A little divergence appearing to the downside, but good to know it is still quite early.
 

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