Taking 103K to 1.2million by Year End 2008

[MandelbrotSet]

Quote from short&naked:

... why not simply stand to your opinion? And, FYI, I wasn't "knocking" I was stating the obvious.

Neke has close to two years of Journaling experience under his belt showing:

1) securities traded
2) style used to trade
3) PnL
4) using probability to measure trade success and equity curve

short&naked has about three months of:

1) general conversation

***

Since he knows so much, I'm sure short&naked could top Neke's performance whenever he wanted to ... :eek:


LOL

 

[short&naked]

Quote from MandelbrotSet:

Neke has close to two years of Journaling experience under his belt showing:

1) securities traded
2) style used to trade
3) PnL
4) using probability to measure trade success and equity curve

short&naked has about three months of:

1) general conversation

***

Since he knows so much, I'm sure short&naked could top Neke's performance whenever he wanted to ... :eek:


LOL

If you are measuring ability and skill by how long someone has been on ET, then the entire trading/investing community is in real trouble!

 

[palawan]

Quote from MandelbrotSet:

Since he knows so much, I'm sure short&naked could top Neke's performance whenever he wanted to ... :eek:
LOL

roflmao

very direct. i think if it was up to short&naked, this website would be called www.elitegambler.com

maybe short&naked thinks that everyone who "invested" in these income-producing mortgage backed securities, cdo's, etc. are just bad investors

 

[Red_Ink_inc]

Quote from palawan:

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

Well I am no stranger to pissing people off. LOL. So I figured I'd weigh in here.

First of all I enjoy this journal, thanks to Neke for posting it.

In my opinion this is not a trading journal, it's a gambling journal. The trade entries are a little hap hazzard, but that's ok as long as there is solid risk management. I get the feeling risk management has been tossed out the window.

For example, Neke's SOHU trade a few weeks back. He put on a decent size position, set no stop then walked away for a number of hours. That is not sound money management. How can that be anything but gambling?

Too often there are coments from Neke to the effect of "I have no idea why I did that" or "If I keep this up I won't reach my goals". This is an admission of little or no control. That is the very definition of gambling.

Neke definately knows the markets pretty well, that said he is underperforming for his skill level due to his propensity for gambling.

 

[palawan]

redink, i agree with your comments. i also don't agree with some of the actions that neke has mentioned and you have pointed out. he knows he's made mistakes and he posts them.

in poker, everyone makes mistakes. even the very best. the better poker players make it an effort to make the least amount of mistakes or that their mistakes don't cost them too dearly. money-management is key to survival both in tournaments (chip management) or in the long run (bankroll management). you won't see me joining $100 sng's because i'd be playing scared at that level.

mandelbrotset has mentioned that neke has "tamed" his trading somewhat. i noticed it, too. i think neke's trading has been improving...

i wish to learn from reading neke's journal both from his successes and his "mistakes". i hope he makes the least amount of mistakes and that they don't cost him too much.

the markets are one big gambling arena. we place our bets (take risks) and if we're right, we make money (get rewarded). imho

 

[MandelbrotSet]

Quote from Red_Ink_inc:

For example, Neke's SOHU trade a few weeks back. He put on a decent size position, set no stop then walked away for a number of hours. That is not sound money management. How can that be anything but gambling?

Too often there are coments from Neke to the effect of "I have no idea why I did that" or "If I keep this up I won't reach my goals". This is an admission of little or no control. That is the very definition of gambling.

Neke definately knows the markets pretty well, that said he is underperforming for his skill level due to his propensity for gambling.

With much respect to you Red_Ink_inc, when Neke took his trading down to low (was too conservative in his approach) he was operating waaaaaaay out of hs comfort zone, and his trading results showed it.

To a great degree our trading is our reflection of our true personalities, with the technique and science of it coming in as a close second.

While he does take what most traders would consider excessive risk, he is consistent in using probability to manage his risk and produce outsize results.
***
Trading is an evolution, I'm glad Neke is sharing his with us.

 

[short&naked]

Since he knows so much, I'm sure short&naked could top Neke's performance whenever he wanted to ... :eek:

The question is, who will still be around in 10 years. You obviously believe that this profession involves sprinting.

 

[short&naked]

Quote from palawan:

roflmao

very direct. i think if it was up to short&naked, this website would be called www.elitegambler.com

maybe short&naked thinks that everyone who "invested" in these income-producing mortgage backed securities, cdo's, etc. are just bad investors

No, they were suckers.

 

[short&naked]

Quote from palawan:

redink, i agree with your comments. i also don't agree with some of the actions that neke has mentioned and you have pointed out. he knows he's made mistakes and he posts them.

in poker, everyone makes mistakes. even the very best. the better poker players make it an effort to make the least amount of mistakes or that their mistakes don't cost them too dearly. money-management is key to survival both in tournaments (chip management) or in the long run (bankroll management). you won't see me joining $100 sng's because i'd be playing scared at that level.

mandelbrotset has mentioned that neke has "tamed" his trading somewhat. i noticed it, too. i think neke's trading has been improving...

i wish to learn from reading neke's journal both from his successes and his "mistakes". i hope he makes the least amount of mistakes and that they don't cost him too much.

the markets are one big gambling arena. we place our bets (take risks) and if we're right, we make money (get rewarded). imho

My, how our tone has changed.

 

[chipmunk]

if you had have "sat tight and done nothing" you would have been rich!

you don;t have to be "busy" to get rich:
-----------------------------------------------------------
shorting LEH pre-market on Wednesday. (June 08)