Taking 103K to 1.2million by Year End 2008
- Thread starter neke
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Weekly Update for week 43 ended 11/07/2008
Frustrating week, down 37K (9.5%).
I've always had some sense of apprehension each Monday,as the lack of trading over the prior days makes me too eager to enter the first trade without due diligence. That happened on Monday, as I shorted CME, kept averaging in until I became insanely leveraged on stocks and put options (average entry price 290). Compelled to close later in the day for a total loss of 52K (36K on the stock and 16K on the option. The stock closed friday @ 269: what a belated vindication!)
The rest of the week was spent gaining a little back at a time with two steps and giving it back the next step. Withdrew 10K for the month ended Oct 31.
Hoping for a better outcome next week.
Frustrating week, down 37K (9.5%).
I've always had some sense of apprehension each Monday,as the lack of trading over the prior days makes me too eager to enter the first trade without due diligence. That happened on Monday, as I shorted CME, kept averaging in until I became insanely leveraged on stocks and put options (average entry price 290). Compelled to close later in the day for a total loss of 52K (36K on the stock and 16K on the option. The stock closed friday @ 269: what a belated vindication!)
The rest of the week was spent gaining a little back at a time with two steps and giving it back the next step. Withdrew 10K for the month ended Oct 31.
Hoping for a better outcome next week.
Code:
Opening Balance: 388,606
Net loss for the week -36,847
Cash Withdrawal -10,000
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Net Balance: 341,759
Number of Trades 24
Number of Profitable Trades 17
Since Inception of Thread 01/13/2008 - 11/07/2008
Opening Balance: 102,615
Net gain (Less Margin Interest) 264,144
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Balance Before Withdrawal: 366,759 (Up 257%)
Cash Withdrawal -25,000
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Net Balance 341,759
Number of Trades 1020
Number of Profitable Trades 605
Top/Bottom Discretionary Trades for the week
TICKER ENTRY DATE/TIME EXIT DATE/TIME QTY PURCHASE AMT SOLD AMT GAIN/LOSS TYPE
SWGWT 2008-11-05-13-28-37 2008-11-05-15-33-48 20000 81000 98000 16680 SPY PUT
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CMEWU 2008-11-03-11-56-33 2008-11-03-14-06-07 5000 99400 83720 -15806 CME PUT
CME 2008-11-03-09-39-50 2008-11-03-14-03-52 3000 902945 866406 -36574 SHORT
Good luck to you Neke... needless to say, your style will experience material set-backs on occasion. However, your windfalls seems to offset it tremendously. I guess with the rose petals come the thorns.
You are an inspiration. Although I doubt that I'll ever have the psychological strength to trade at such risk mgmt levels.
BTW, do you have more success trading options than stocks? Do you find spreads (such as vertical debit or credit) worthwhile?
thanks,
Walt
You are an inspiration. Although I doubt that I'll ever have the psychological strength to trade at such risk mgmt levels.
BTW, do you have more success trading options than stocks? Do you find spreads (such as vertical debit or credit) worthwhile?
thanks,
Walt
This is an enjoyable journal to read and you clearly have a great understanding of what you're doing.
But I'm wondering, even if you are positive expectation, doesn't the volatility give you a significant risk of ruin?
Take blackjack. You may be an expert card counter, and you may have found a great game setup, but if your bets are too large for your bankroll, you could still end up being forced out of the game.
But I'm wondering, even if you are positive expectation, doesn't the volatility give you a significant risk of ruin?
Take blackjack. You may be an expert card counter, and you may have found a great game setup, but if your bets are too large for your bankroll, you could still end up being forced out of the game.
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