Taking 103K to 1.2million by Year End 2008

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Quote from short&naked:

My, how our tone has changed. ;)
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i don't like flame-wars. redink was much more civil in his criticism. he presented his arguments well. i agreed with him that when neke was making mistakes, neke was "gambling". even neke didn't understand why he did some of those things. i forgot to add in my reply that what about those times when neke followed his system and methods and made huge amounts? he wasn't gambling, right?

i think neke will be fine. he seems to have enough experience (years) and will make adjustments to his system and will recognize his mistakes. this is my opinion, based on reading his journal.

this is my last post as this jounal is being hijacked from its original purpose :D

good trading
 
Quote from palawan:

i don't like flame-wars. redink was much more civil in his criticism. he presented his arguments well. i agreed with him that when neke was making mistakes, neke was "gambling". even neke didn't understand why he did some of those things. i forgot to add in my reply that what about those times when neke followed his system and methods and made huge amounts? he wasn't gambling, right?

i think neke will be fine. he seems to have enough experience (years) and will make adjustments to his system and will recognize his mistakes. this is my opinion, based on reading his journal.

this is my last post as this jounal is being hijacked from its original purpose :D

good trading
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Sure.
 
My God, this market keeps crying oversold and hindering me from making bearish moves or causing me to quickly get out of short positions, and yet the bottom never comes. Regrets all around.
 
Quote from neke:

My God, this market keeps crying oversold and hindering me from making bearish moves or causing me to quickly get out of short positions, and yet the bottom never comes. Regrets all around.
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I know what you mean. How do you catch this train when it is moving too fast!
 
The index is going parabolic. So, either we will be on guns and ammos or this will get flatten out and get very boring quick.....:(
 
Weekly Update for week 39 ended 10/11/2008

Yet another solid week, up 57K (26%). Most of that taking place on Friday.

What a week it was! Almost impossible now to trade individual stocks on their own merit without reference to the entire market. Not surprising the bigger gains/losses this week was from SPY trades.

The week began bad on Monday when I tried to call a bottom on the market, buying SPY shares, averaging down for a total of 4000 shares. Lost 13K. Spent the rest of the week before Friday getting myself back, with FSLR long on Mon, CME put on Tue, and FSLR short on Tue among others. Big regrets have been not holding to my shorts longer, always thinking things were oversold.

Then came friday. Bought 100 SPY calls for 24K when the market tanked at the open. Got out 30 minutes later for a gain of 20K. Much smaller size than I could have. I guess I was scared by the size of the moves. Made some other nice trades. Lost later in the day shorting GS and buying SPY puts shortly after 2.30, thinking maybe another EOD sell-off is on the way: lost a total of 18K. Turned round and loaded up on SPY calls (200 contracts, a bit overleveraged - blame it on revenge) as the rally was underway. Closed that for a gain of 23K.

Took out 5K from my account.

Code: 
Opening Balance:               	    	215,822
Net gain for the week 		         56,653  
Cash Withdrawal				 -5,000
------------------------------------------------
Net Balance:                   		267,475
Number of Trades	            	 22
Number of Profitable Trades    	    	 15

Since Inception of Thread   01/13/2008 - 10/11/2008

Opening Balance:                   	102,615
Net gain (Less Margin Interest)		179,860
------------------------------------------------
Balance Before Withdrawal:            	282,475  (Up 175%)
Cash Withdrawal				-15,000
------------------------------------------------
Net Balance				267,475

Number of Trades	           	924
Number of Profitable Trades        	543


Top/Bottom Discretionary Trades for the week

TICKER	ENTRY DATE/TIME		EXIT DATE/TIME		QTY	PURCHASE AMT	SOLD AMT	GAIN/LOSS	TYPE


SWGJL	2008-10-10-15-13-20	2008-10-10-15-34-17	20000	96000		120000		23679		SPY CALL
SWGJL	2008-10-10-09-37-31	2008-10-10-09-59-12	10000	24000		44500		20330		SPY CALL
----------------------------------------------------------
SZCVH	2008-10-10-14-34-45	2008-10-10-15-12-00	10000	61880		50540		-11520		SPY PUT
SPY	2008-10-06-09-16-38	2008-10-06-15-15-49	4000	429680		416558		-13165		LONG

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Hi Neke!

Impressive, but 20% in a week? Slow down bud! You obviously have to skills, but it would be a shame for you to rush into things and then end up taking unnecessary draw downs.

There have been many stocks out there that would have easily yielded the same return in this same time, without all the ups and downs....
 
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