Taking 103K to 1.2million by Year End 2008

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good stuff, keep it up.....

actually before withdrawal you made 23.6% profit.

If you make 17% per week for another '6 weeks' (5 clean weeks before Christmas, then trade around Christmas), you'll have 1 million$

You need a tad over 20% per week to get 1.2 mill.


Moderaters:

A couple of minutes after posting the above encouragement I received the following PM. Please ban the rude fool:



snowhite




Registered: Apr 2008
Posts: 259
yo dream
on pup, you dont even have 4k to trade much less enough to make 1ml


11-15-08 11:02 AM
 
Neke,

Can you tell us the ratio of your average win : average loss please?

Also what percentage of your account do you risk per trade?
 
Hi neke,

It's actually strange to me, how do you manage to work and trade simultaneously. How does your employee see this?


Quote from neke:

Not going into personal matters. Lets just say, I am in North America.
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Quote from fugly:

Neke,

Can you tell us the ratio of your average win : average loss please?

Also what percentage of your account do you risk per trade?
More...

Ok I took some time to calculate the statistics, since I have no software that generates those.

For the period 1/13/2008 till date, the average winning trade is $2999, while the average loser is -$3624. That is however not very meaningful, knowing the balance on account has ranged from 103K to above 500K: that obviously determines the position size, and the range of returns have gone from -88K to +103K (incidentally both top and bottom trades took place the same week). So far I have a 60% win rate.

How much do I risk per trade? The average cost per stock trade has been 60% of account, while for options it has been 18%. I determine how long I keep a loser based on each trade (although I mentionned 10% of account for stocks). I refrain as much as possible from placing hard stops. Most of the time I would be long gone from a trade before a maximum loss threshhold could be reached. I believe it takes the trader, and not just some arbitrary stop loss, to determine when a trade is not going well.
 
Quote from lojze:

Hi neke,

It's actually strange to me, how do you manage to work and trade simultaneously. How does your employee see this?
More...

It is like surfing the web at work. I realise I still have to get my regular work done. BTW, I do only 3-5 trades a day. So it is not really as intense as you would think. When I watch for a trade, it is normally with the intention of holding for the day or overnight.
 
Quote from neke:



How much do I risk per trade? The average cost per stock trade has been 60% of account, while for options it has been 18%. I determine how long I keep a loser based on each trade (although I mentionned 10% of account for stocks).
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Hi Neke,

Thanks for your reply your statistics are very interesting and an eye opener for me.
I had imagined your wins would be atleat 3 times your average loss.

Well goes to show you learn something everyday .. lol ... thanks.

I was wondering though, you said risk 60% of your account per trade is this correct which would mean if you get stopped out you;d be down by 60%?

Is this correct?

thanks
 
Quote from fugly:

I was wondering though, you said risk 60% of your account per trade is this correct which would mean if you get stopped out you;d be down by 60%?
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Nope, unless the stiock goes to zero while I am holding it long (impossible intra-day, certainly not for the stocks I trade). Moreover, the actual amount used for each trade depends on the perceived risk. I could use 200% to buy SPY intra-day. In spite of increased volatility in the market, it is hard to see SPY move 10% intra-day, and harder still to have me be on the wrong side and do nothing while it goes against me 10%. Even if this were to happen, the account would be down 20% (not 200%!).
 
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