Taking 320K to 3.5million by Year End 2009

[Red_Ink_inc]

Quote from cstfx:

Collective2 is not real trading. It is hypothetical, no real money on the line trading. neke puts his money on the line and bleeds his losses here on the board. I asked you (bwolinsky) to post your real results in a real account like neke does and instead you post "hypothetical results".

Amen. I have the utmost respect for anyone who puts real money on the line like neke does. Only they know the pain you feel in the pit of your stomach when the numbers to the right of the (-) minus sign represent real money.

Anyone posting 'results' from Collective2 as proof of thier prading prowess is a joker.

 

[short&naked]

Quote from Red_Ink_inc:

Amen. I have the utmost respect for anyone who puts real money on the line like neke does. Only they know the pain you feel in the pit of your stomach when the numbers to the right of the (-) minus sign represent real money.

Anyone posting 'results' from Collective2 as proof of thier prading prowess is a joker.

Indeed, at least neke isn't a closet gambler.

 

[hermitage]

check your math..

Quote from iloveoptions:

Don't feel so bad man. Look at it this way, you still have four 18%'ers before you blow out, and last week was your 1st. Try to keep a smile on your face next week

 

[noddyboy]

I personally believe that excluding high frequency trading, if you were a retail investor paying retail rates, the highest consistent return that you can hope to achieve without say a greater than 50% drawdown is 100% per year. Can someone prove me wrong?

this is important...if we know the highest potential return, we can decide what not to trade which is as important as what to trade.

 

[neke]

Quote from neke:

What the heck is SLG? I didn't know the stock, only that it has shot up too much. Decided to buy 200 APR 20 PUTS, and averaged down another 300 on expiration day! Well, I got my head handed to me as the stock kept rallying to the close when I was out at an average 23cents/contract. Total lost 52K!

So SLG, you're now down to 15.30 after I got out? Had I exercised the puts, my account should be higher by 223K! Thanks for teaching me.

 

[short&naked]

Quote from neke:

So SLG, you're now down to 15.30 after I got out? Had I exercised the puts, my account should be higher by 223K! Thanks for teaching me.

You picked a top and got burned. Timing individual stocks like these is problematic and especially risky with your trading size. Why not stick to index and commodity futures? The movements on the index futures are much more predictable due to the higher liquidity.

 

[monee]

Quote from neke:

So SLG, you're now down to 15.30 after I got out? Had I exercised the puts, my account should be higher by 223K! Thanks for teaching me.

Neke that's a bitch with what happened to SLG today.
Calculating todays potential gain is bad , but I know it's hard to avoid.

Remember what is always written about golfers that what separates the good from the bad is how they behave when things go wrong.

You're still up huge from last year, keep that in your mind as opposed to dwelling on SLG.

 

[NoDoji]

Quote from neke:

So SLG, you're now down to 15.30 after I got out? Had I exercised the puts, my account should be higher by 223K! Thanks for teaching me.

Top 3 Rules of Trading:

1. Cut losses quickly

2. Let profits run

3. If you neglect to honor Rule #1, and take big loss, immediately remove chart of loser from view

 

[neke]

Weekly Update for week 15/50 ended 04/25/2009

Moderately positive week, up 6K (2%). Dug a deep hole for myself on Monday, and spent the rest of the week climbing back to positive.

It appears to be my last desperate act of averaging down before I put in the automatic closure on Tuesday: Bought 10000 LVS @ 5.28 Monday morning after the positive analyst note, averaged in further quantities as the share price and the market went down until I had 80000 shares to my credit. Capitulated at 4.62, losing 26K. Hurts to see the stock close Fri at 7.42!

My automated checks came in place Tuesday, and glad to say I haven't averaged down (one forced closure) since then. Had a nice stream of singles for the rest of the week on reduced leverage, netting 6K at the end.

My work is still cut out for me as I try to:

--come to break-even
--build up a buffer
--accelerate the return through incremental leverage based on buffer

Opening Balance:               	    	302,120
Net gain for the week 		          6,054
------------------------------------------------
Net Balance:                   		308,174

Number of Trades	            	 35
Number of Profitable Trades    	    	 23


Since Inception of Thread   01/10/2009 - 04/25/2009

Opening Balance:                   	320,064
Net gain (Less Margin Interest)		-11,890	(Down 3.7%)
------------------------------------------------
Net Balance				308,174

Number of Trades	           	367
Number of Profitable Trades        	232

Top/Bottom Discretionary Trades for the week


TICKER	ENTRY DATE/TIME		EXIT DATE/TIME		QTY	PURCHASE AMT	SOLD AMT	GAIN/LOSS	TYPE
	
JUXQQ	2009-04-24-09-41-56	2009-04-24-09-56-37	40000	48000		60000		11385		JNPR PUT
-----------------------------------------------------
LVS	2009-04-20-09-22-17	2009-04-21-11-31-11	80000	395572		369625		-26035		LONG

 

[NoDoji]

Quote from neke:

Had a nice stream of singles for the rest of the week on reduced leverage, netting 6K at the end.

Neke, happy to see you have a positive week!

Keep your sights on the singles, and the home runs will come.