Taking 103K to 1.2million by Year End 2008
- Thread starter neke
- Start date
- Status
That's not a bad thought, actually.Quote from cashmoney69:
why not just lock in what you made for this year, and have an early Christmas? You had a nice run...dont give it back
***
Hopefully neke will just keep hsi focus and maintain his discipline with his trading style.
I know that if I had almsot half a mil in my account, I could effectively retire and have an extraordinary slush fund to trade with.
So no matter how you look at it he's had a great run this year, learned a lot, and I'm sure will up the ante for next year.
It's difficult to state "stop now".
What if he effectively doubles his account next month? ( very unlikely since dec. is a low vol. month, but possible based on his all-or-nothing approach )
But then again, based on his average 300% returns, he could cash out, go one a vacation, and begin next year with 300K and hit his 1 mil target trading the same strat.
Falling from a 1/2 mil high back to his initial 100K could also be psychologically devastating. I've been there and it can take years to come back psychologically.
What if he effectively doubles his account next month? ( very unlikely since dec. is a low vol. month, but possible based on his all-or-nothing approach )
But then again, based on his average 300% returns, he could cash out, go one a vacation, and begin next year with 300K and hit his 1 mil target trading the same strat.
Falling from a 1/2 mil high back to his initial 100K could also be psychologically devastating. I've been there and it can take years to come back psychologically.
Why trade options with so many large caps trading like options? FannieMae just did a 400% advance in 4 days at 100 million shares traded each day. Citibank, KBHOME and even Morgan Stanley all flopping around like an option doubling and tripling.
How could you have not made money? Just stick with the good stocks like FannieMae which make money everyday of the week.
If not the good stocks and you want to stay diversified, then hop on the triple leveraged SPY or better yet the triple leveraged financials. You could easily double or triple your account by year end with the right moves and trading the "good stocks".
How could you have not made money? Just stick with the good stocks like FannieMae which make money everyday of the week.
If not the good stocks and you want to stay diversified, then hop on the triple leveraged SPY or better yet the triple leveraged financials. You could easily double or triple your account by year end with the right moves and trading the "good stocks".
I'm always running the numbers for my situation. I find it really varies depending on house (paid for or not), cars (same), kids (you know what I mean), wife (I could make a joke here), and health insurance.
I figure 500K would provide me with enough cushion to give trading a shot for 2 years or so but by no means would I be able to retire. I take it you are saying that 500K would be in your trading account and you have a separate 401K/pension?
You obviously have no clue how risky putting 100k into a stock like FNM really is. And how the hell are you going to time them anyway?!?
To short&naked,
This time I agree with you,
the guy is talking about " 400% in a few days " if one stick with the " good stocks " is it a fairy tale ?
Got to be, becase if you want to do that with $ 1000 I can understand but $ 100.000 I can't.
This is part of the reason why I follow Neke's thread. It really takes some guts to do what he does.
When one has a capitalized account, 400 k or more it gets tricky, I mean $ 50.000 does not go unnoticed and it would deeply upset me if I were to lose that kind of money in one week. Does not matter how much I have. On the same token, by not taking that risk I also give up on making 50k in one week.
I used to make/lose the same amount of money before, unfortunately I was disconected from reality, but that is me. After making or losing 50 k or more I would " get out " of my trading room. I would see how in the real world some people really struggle to make 50 k in one year. All of a sudden I would " wake up ". Gosh there were so many things one can do with 50 k, I just did not have what it takes to trade like that anymore.
On a 400 k account I would rather do the best I can to pull in from $ 5000 to $ 10.000 per month as often as possible. Yet I would do it by limiting my risk to much less than 50 k and I would sleep well at night, in short that is what I am doing now.
That's why trading and different trading styles can be quite fashinating, Neke would find what I do boring.
I think this is the best trading journal on the forum ! It is as real as it can be.
To Neke, I would like to say that what you do is very inspiring and to do what you can to keep focused. It might sound crazy but maybe you might want to consider taking a week off so that you don't feel like " market revenge " or a hurry to make it back for your next trade.
Good Luck
This time I agree with you,
the guy is talking about " 400% in a few days " if one stick with the " good stocks " is it a fairy tale ?
Got to be, becase if you want to do that with $ 1000 I can understand but $ 100.000 I can't.
This is part of the reason why I follow Neke's thread. It really takes some guts to do what he does.
When one has a capitalized account, 400 k or more it gets tricky, I mean $ 50.000 does not go unnoticed and it would deeply upset me if I were to lose that kind of money in one week. Does not matter how much I have. On the same token, by not taking that risk I also give up on making 50k in one week.
I used to make/lose the same amount of money before, unfortunately I was disconected from reality, but that is me. After making or losing 50 k or more I would " get out " of my trading room. I would see how in the real world some people really struggle to make 50 k in one year. All of a sudden I would " wake up ". Gosh there were so many things one can do with 50 k, I just did not have what it takes to trade like that anymore.
On a 400 k account I would rather do the best I can to pull in from $ 5000 to $ 10.000 per month as often as possible. Yet I would do it by limiting my risk to much less than 50 k and I would sleep well at night, in short that is what I am doing now.
That's why trading and different trading styles can be quite fashinating, Neke would find what I do boring.
I think this is the best trading journal on the forum ! It is as real as it can be.
To Neke, I would like to say that what you do is very inspiring and to do what you can to keep focused. It might sound crazy but maybe you might want to consider taking a week off so that you don't feel like " market revenge " or a hurry to make it back for your next trade.
Good Luck
- Status