Taking 103K to 1.2million by Year End 2008
- Thread starter neke
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Neke,
I've been reading this thread for a long time. You and I trade the same way. I'm happy to see you saddle the boar. It's a fine line when you have so much riding on your directional trades, but you wouldn't be in them without a good reason. I want to see you stick to your script. You obviously know what your doing. You only get hurt when you violate that. I'm glad you've had the conviction to take what's yours for being right after some strong losses. You will blow away your goals when you cut out the excess trades. Congratulations on your new highs. Outstanding job.
Wilt
I've been reading this thread for a long time. You and I trade the same way. I'm happy to see you saddle the boar. It's a fine line when you have so much riding on your directional trades, but you wouldn't be in them without a good reason. I want to see you stick to your script. You obviously know what your doing. You only get hurt when you violate that. I'm glad you've had the conviction to take what's yours for being right after some strong losses. You will blow away your goals when you cut out the excess trades. Congratulations on your new highs. Outstanding job.
Wilt
God willing, NO!
Fund management is about risk control, which is clearly lacking here (looking at the DDs). When somebody gives you 10m USD to invest their want to hear about MM first and ROI later.
While I find the returns impressive, I still don't see how this isn't a gambling journal. I hope you reach your goal of 1.2m USD (probably not by the end of 2008). When I am certainly glad that I'm a longer term trader when I see the ups and down, and stress levels that go into your trading style.
Remember, it's a marathon, not a sprint.
:eek: It is not to you? It is in global, objective terms. Just having system doesn't mean that you aren't gambling.
There are plenty of Hedge Funds that had excellent stategies but ended up over-leveraging and blowing up big time.
On the other hand, if you are using gambling capital and just trying to "see if it can be done", then good luck and have fun!
I am concerned however that many beginners here are getting the wrong idea reading your thread, thinking that this is how you obtain a steady return over time... IT IS DEFINATELY NOT!
don't want to answer for neke, but i just wanted to make a couple of points.
how long have you been reading this journal? your concerns that this is a high-risk/high-reward trading activity not to be copied by anyone else have been addressed in many posts. this journal is a continuation of another journal last year where comments similar to yours have been raised. please read the first post and maybe refer to the other journal.
i've been following this journal from the beginning and also the previous journal.
this is how you obtain a steady return over time... IT IS DEFINATELY NOT! you're suggesting that neke's journal should be about collecting steady income? this is a trading journal. if neke started investing in CD's or treasuries, i think everyone would stop reading this journal. the website is called elitetrader. neke has proven that he is a trader, no doubts about that. elite? absolutely - imho
i play sng's (sit n go's poker tournaments) occassionaly for about 2 years now. i've been a positive player from the start. about 8 months ago, some co-workers have commented that it's stupid to play these online poker. i've defended it many times that it's about skill in the long run, in the short run it's about luck. no matter.
one of the co-workers seemed to have more of a passing interest. i showed him my stats, i was up $1600 on about 1600 games (i play mainly $15+1 nlhe and $25 + 2, i have dropped down in the lower buyins when i was trying to grind up, when my money was low because i cashed out too much).
every now and then, he would ask, and my stats would still be going up. i only play on the side, of course, at nights, or on weekends. sometimes, i don't play for weeks. still, i don't think he believed that it was any more than just being lucky that i'm positive.
i didn't press the issue. nothing to prove to any of them. when one of them would say the comment "it's stupid to play online poker", i just make a come back comment that i think they're right and maybe i should return the money i've made, but shoot, i already spent them.
finally, about a month ago, the coworker who had a passing interest finally started to play. he bought a few books. started creating spreadsheets. playing hours and hours (everyday in the beginning). his skill level has gone up. all of a sudden, he's converted that it's not about luck.
my total profit is now up to over $2600 on over 2200 games (sharkscope website)
this is not a poker site and to a lot of people, those stats are meaningless. that's fine. no problem.
here's neke's journal about trading that has shown over a long period of time and over many trades, that his "system" makes money. still, people make comments that he's gambling and just been lucky.
i loved reading about riskarb's and optioncoach's journals. riskarb's journal was so complex and i didn't understand many of the details, but still loved reading it and studying it. i wish atticus would start another journal...
but it seems that when someone goes out here, sharing their "stuff" at no charge, people still find a way to criticize. i guess that's that's the way it's always going to be.
It's interesting that no matter how successful someone is, they always have to take knocks.
I'm not criticizing the knockers btw, I'm just making an observation.
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Neke used to be much more aggressive in his trading style, he tried to make it ultra-tame and his returns suffered as a result of that, and now I think he is trying to stay in the middle of the road which is the Risk vs. Return highway that we are all traveling.
Thanks for everyone's concern, but he seems to be doing fine.
I'm not criticizing the knockers btw, I'm just making an observation.
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Neke used to be much more aggressive in his trading style, he tried to make it ultra-tame and his returns suffered as a result of that, and now I think he is trying to stay in the middle of the road which is the Risk vs. Return highway that we are all traveling.
Thanks for everyone's concern, but he seems to be doing fine.
What's wrong with criticism? Do we always have to praise by default? I see an overwhelming number of positive posts here and thought it wise to counter them.
And yes, I have been reading this thread for a while.
Quote from MandelbrotSet:
It's interesting that no matter how successful someone is, they always have to take knocks.
I'm not criticizing the knockers btw, I'm just making an observation.
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Neke used to be much more aggressive in his trading style, he tried to make it ultra-tame and his returns suffered as a result of that, and now I think he is trying to stay in the middle of the road which is the Risk vs. Return highway that we are all traveling.
Thanks for everyone's concern, but he seems to be doing fine.
Sure you are criticizing the "knockers", why not simply stand to your opinion? And, FYI, I wasn't "knocking" I was stating the obvious.
Did I just interrupt a meeting at GA? Certainly seems that way.
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