Taking 103K to 1.2million by Year End 2008

[kxvid]

Quote from neke:

Until the recent market craziness, most of my trades were individual stocks and stock options, not SPY. I have benefitted by trading SPY options because of the big ranges.

I have thought of futures, and the reduction in spread costs, but I don't think I have been moved enough to do that. Besides I will need a new broker for that. One reason I am apprehensive of futures is the negative impact of heavy leverage. Unlike options when I can stake 20% of account and know that is the worst I can lose, in futures, if one is reluctant to take a loss on big leverage, the consequences could be huge in a crazy market like this.

You should try paper trading. cboe.com has a free virtual futures, options and stock account. You will probably want to trade the real thing once you get the hang of it, I know I did.

I went live trading futures and lost 2k out of a 5.5k account. I closed that account and funded another for 12k. I promptly lost 3k the first day trading futures and options. But over the next 4 days I made it all back with futures. So right now I am even on that account.

You are bound to have draw downs. I am actually glad I lost money so I increased my knowledge as a trader. It is exciting to see the money flow into your account trading futures. It can also leave just as fast of course.

The trick is not letting the other side make a cent at your expense. You gotta be confident in your entry and position so even if you are down thousands you know sooner or later you will be in the green.

 

[sc85]

Neke,

This thread is for your paper trading only right?

On 10/28 SPY $64 CALL, the total 3:00 to 4:00 pm volume is only 10,000 contracts, but you said you traded 20,000 contracts. Obviously it is impossible.

nice work though,

 

[neke]

Quote from sc85:

Neke,

This thread is for your paper trading only right?

On 10/28 SPY $64 CALL, the total 3:00 to 4:00 pm volume is only 10,000 contracts, but you said you traded 20,000 contracts. Obviously it is impossible.

nice work though,

20000 = 200 contracts representing 20000 shares, which you could have figured out from the purchase amount. Wise up! And where did you read SPY 64 call?

 

[staffpro]

Quote from neke:

20000 = 200 contracts representing 20000 shares, which you could have figured out from the purchase amount. Wise up! And where did you read SPY 64 call?

ye isn't spwgkl the SPY 90 call?

 

[MandelbrotSet]

Quote from kxvid:

The trick is not letting the other side make a cent at your expense. You gotta be confident in your entry and position so even if you are down thousands you know sooner or later you will be in the green.

Some of the worse advice I've ever seen.

Keep doing what you're doing Neke, if you take his advice, you'll be paying your broker money.

P.S. Do you have any idea how many professionals have blown out accounts while expousing the exact same attitude you posesses here?

How about Victor Neiderhoffer, Jerome Kerviel, and Nick Leeson for starters.

 

[staffpro]

Quote from MandelbrotSet:

Some of the worse advice I've ever seen.

Keep doing what you're doing Neke, if you take his advice, you'll be paying your broker money.

P.S. Do you have any idea how many professionals have blown out accounts while expousing the exact same attitude you posesses here?

How about Victor Neiderhoffer, Jerome Kerviel, and Nick Leeson for starters.

the guy who posted that quote said he just opened an account and lost 2k (on a 5k account) then opened another bigger account and lost 3k (on a 12k account)and then he goes on to give advice to someone who turned 100k into 400k O THE IRONY

 

[saliva]

Quote from staffpro:

the guy who posted that quote said he just opened an account and lost 2k (on a 5k account) then opened another bigger account and lost 3k (on a 12k account)and then he goes on to give advice to someone who turned 100k into 400k O THE IRONY

I think Mendel's point was more about overleveraging oneself to the hilt than about kxvid's wise counsel on the theme of trick-or-treat.

 

[kxvid]

Quote from staffpro:

the guy who posted that quote said he just opened an account and lost 2k (on a 5k account) then opened another bigger account and lost 3k (on a 12k account)and then he goes on to give advice to someone who turned 100k into 400k O THE IRONY

Read my post. I lost 3k on a 12k account but I made it all back in 4 days. I'm even on that account and lifetime trading I am only down -2k.

@ MandelbrotSet
You are a bitter unprofitable trader. I will see you on the open market and take the other side of your trades any day. I seriously doubt you trade futures, because if you did your account wouldn't last more than a few days. Name dropping professionals only proves you own incompetence as a trader.

Quote from kxvid:
The trick is not letting the other side make a cent at your expense. You gotta be confident in your entry and position so even if you are down thousands you know sooner or later you will be in the green.

I suppose advise written by MandelbrotSet would read:

It's good to give the other side money from your account at your expense. Other traders gotta make a living somehow. You shouldn't be confident in your entry and as soon as you are down thousands you should get out and lock in those losses.

 

[MandelbrotSet]

Quote from staffpro:

the guy who posted that quote said he just opened an account and lost 2k (on a 5k account) then opened another bigger account and lost 3k (on a 12k account)and then he goes on to give advice to someone who turned 100k into 400k O THE IRONY

LOL on so many levels.

He actually thinks his advice is good, :eek: ... so I'll leave him to the tender mercies of the market.

 

[kxvid]

Quote from MandelbrotSet:

LOL on so many levels.

He actually thinks his advice is good, :eek: ... so I'll leave him to the tender mercies of the market.

Like I said, see you on the other side. I'd like to see your journal. I'd open a journal if you would. See whos a better trader.