Taking 103K to 1.2million by Year End 2008

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Weekly Update for week 7 ended 03/01/2008

An OK week, up 6.3K (5.7%).

Built on Monday, destroyed on Tuesday, built again on Wednesday and Thursday, only to have the market thrash a good chunk of my gains on nasty Friday.

I am pleased the account is coming along on the positive side. Still scared of taking unusual risk that could hit my account hard. So although I am tracking below trend, I am positive at some point I will have enough buffer to muster up the confidence to take extra risk. Hopefully the discipline I am practicing will get even better to handle the extra pressure increased risk will bring.

Code: 
Balance B/F:                   	    	111,369
Net Gain for the week 		          6,327
------------------------------------------------
Balance C/F:                   		117,696
Number of Trades	            	 25
Number of Profitable Trades    	    	 14

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

Balance B/F:                   		102,615
Net Gain (Less Margin Interest)		 15,081
------------------------------------------------
Balance C/F:                   		117,696  (Up 14.7%)
Number of Trades	           	128
Number of Profitable Trades        	 74

Expected Balance at this time to be on track for Year-End Target : 
			       144,793

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

PDGI	2008-02-28-09-19-58	2008-02-28-09-33-06	2000	58560		64032		5451		SHORT
FWLT	2008-02-26-10-24-24	2008-02-26-12-13-44	1800	129599		133415		3795		LONG
----------------------------------------------
GOPOJ	2008-02-26-11-48-45	2008-02-26-12-13-05	1000	18300		15600		-2735		PUT OPTION
CRM	2008-02-28-09-49-54	2008-02-28-11-13-27	2000	122383		119600		-2804		SHORT
 

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Quote from ggoyal:

yes nice job. but you are still off your target(current) if you want to achieve what you have in mind by year end.
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Come on. Gaining like Neke in these kind of market is plenty good for lots of people.
 
yeah but when you have your own plan, it doesnt make sense to compare yourself to other people. focus only what you can do, not what others are doing.
 
Nice job Neke, you have really improved as a trader. Consistency is more important than outsize profits for any time period and will lead to wealth.
 
Quote from Mvic:

Nice job Neke, you have really improved as a trader. Consistency is more important than outsize profits for any time period and will lead to wealth.
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Excellent point, you can do research on his posts to see the value of his statements.
***
You're providing the readers with an advance class in how to turn things around and consistently turn out the profits Neke ... one only wonders how long you're going to continue working for a living.

Thanks
 
Quote from Mvic:

Nice job Neke, you have really improved as a trader. Consistency is more important than outsize profits for any time period and will lead to wealth.
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Thanks, I appreciate the observation. I believe consistency comes with being disciplined with every trade: entry decision, sizing, exit decision. I need to collect enough trades on each strategy to decide what an optimal sizing should be. Before that, it is much better to play it safe, especially on a somewhat baseline balance.

Quote from MandelbrotSet:

Excellent point, you can do research on his posts to see the value of his statements.
***
You're providing the readers with an advance class in how to turn things around and consistently turn out the profits Neke ... one only wonders how long you're going to continue working for a living.

Thanks
More...


Will continue working for a living until the balance comes up to a much larger value and, like you said, with proven consistency.
 
Hey Neke, great performance so far. Maybe you're onto something by taking less risk.

Just a thought here and take it with a grain of salt :) , but what if you broke your account into 2 seperate portfolios where one continues the method of less risk you're using right now, and the other takes on the more extreme risk when you decide to increase your gains?

That way if the conservative method you are using now proves to be highly successful, you'll continue to fine-tune it even as you again try to shoot for the stars with your more volatile methods.

You don't want to throw the baby out with the bathwater after all (if I may use the most overused cliche in existence ):D
 
Weekly Update for week 8 ended 03/08/2008

Worked all week, and all I have to show is $675 (+0.6%). Hardly enough to put bread on the family table for the week. Should have been an Ok week, but for starting an automated strategy that cost me 6K.

I have been looking at incorporating some automated methods once again. The first strategy was ready to roll and the first trade was a collosal loss of 6K. Very demoralizing way to start. It is an overnight approach, but happened to be hit with unexpected overnight news that moved the stock against me. Not giving up on this strategy, since I do not expect such stock-moving news to be the norm.

Code: 
Balance B/F:                   	    	117,696
Net Gain for the week 		            675
------------------------------------------------
Balance C/F:                   		118,371
Number of Trades	            	 28
Number of Profitable Trades    	    	 19

Since Inception of Thread   01/13/2008 - 03/08/2008

Balance B/F:                   		102,615
Net Gain (Less Margin Interest)		 15,756
------------------------------------------------
Balance C/F:                   		118,371  (Up 15.4%)
Number of Trades	           	156
Number of Profitable Trades        	 93

Expected Balance at this time to be on track for Year-End Target : 
			       152,093

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

BOOM	2008-03-06-16-44-15	2008-03-07-09-30-37	800	37034		39800		2746		SHORT
-----------------------------------------------------------
????	 			 			3000	45656		39450	       -6227		SHORT
 

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