WOW! So, you trade a naked chart? Sounds like your edge is mostly in your MM.
Taking 320K to 3.5million by Year End 2009
- Thread starter neke
- Start date
- Status
WOW! So, you trade a naked chart? Sounds like your edge is mostly in your MM.
He's right, all the consistently profitable traders I have seen trade with naked or nearly naked charts.
It's all in market experience and money management.
Weekly Update for week 5/50 ended 02/14/2009
Woeful week, down 18K (5%).
What started like a good week ended terribly. Was up 20K on Monday after some good trades fading the rally early in the day. Surrendered all that on Tuesday when the market zapped against my positions: was on the wrong side of all the moves. Gained some little more on Wednesday. The came Thursday, and I was once more up about 20K for the week, only for me to initiate some ill-fated long positions in stocks and options on the spy, adding some more as the market down down. Then when I could handle it no more, crashed out (3:01pm) only to watch in disgust as the market rebounded soon afterwards: Had I held the positions to the close, my account balance should be greater by about 64K! That is the extent of the pain.
Not sure whether to look forward to next week.
Woeful week, down 18K (5%).
What started like a good week ended terribly. Was up 20K on Monday after some good trades fading the rally early in the day. Surrendered all that on Tuesday when the market zapped against my positions: was on the wrong side of all the moves. Gained some little more on Wednesday. The came Thursday, and I was once more up about 20K for the week, only for me to initiate some ill-fated long positions in stocks and options on the spy, adding some more as the market down down. Then when I could handle it no more, crashed out (3:01pm) only to watch in disgust as the market rebounded soon afterwards: Had I held the positions to the close, my account balance should be greater by about 64K! That is the extent of the pain.
Not sure whether to look forward to next week.
Code:
Opening Balance: 361,377
Net loss for the week -17,939
------------------------------------------------
Net Balance: 343,438
Number of Trades 27
Number of Profitable Trades 17
Since Inception of Thread 01/10/2009 - 02/14/2009
Opening Balance: 320,064
Net gain (Less Margin Interest) 23,374 (Up 7.3%)
------------------------------------------------
Net Balance 343,438
Number of Trades 114
Number of Profitable Trades 71
Top/Bottom Discretionary Trades for the week
TICKER ENTRY DATE/TIME EXIT DATE/TIME QTY PURCHASE AMT SOLD AMT GAIN/LOSS TYPE
PYPNS 2009-02-09-10-14-58 2009-02-09-12-10-31 15000 78000 85500 7261 POT PUT
GS 2009-02-09-09-32-11 2009-02-09-10-41-16 3000 286922 292800 5862 SHORT
---------------------------------------------------------------------------
SZCBD 2009-02-12-13-02-04 2009-02-12-15-01-43 40000 87000 66000 -21621 SPY CALLNeke,
You can see from my # of posts that I don't post often as I am still studying the markets and trading. But in the last couple of days I read your entire 2008 journal with immense interest and I have to say I love it! It was like reading a great novel that you can not put down -- the story has its highs and lows, twists and turns, all kinds of characters and a great hero, a fabulous $138k climax and half a million finale. I could not have asked more for a trading journal!
Congratulations on what you have achieved so far and thank you for sharing with us such a wonderful and inspirational journal.
This week was not so great for you but considered the bloodshed on Thursday your weekly loss I believe is within reasonable. Good luck next week. I am rooting for you.
You can see from my # of posts that I don't post often as I am still studying the markets and trading. But in the last couple of days I read your entire 2008 journal with immense interest and I have to say I love it! It was like reading a great novel that you can not put down -- the story has its highs and lows, twists and turns, all kinds of characters and a great hero, a fabulous $138k climax and half a million finale. I could not have asked more for a trading journal!
Congratulations on what you have achieved so far and thank you for sharing with us such a wonderful and inspirational journal.
This week was not so great for you but considered the bloodshed on Thursday your weekly loss I believe is within reasonable. Good luck next week. I am rooting for you.
This in itself sets you above many "traders"
It's like our Moms always used to say, "If you're up $20,000 on a Monday morning, take the rest of the week off."
Neke, that's a "restrospect" thought, very dangerous. Please don't it influence you to change what has been a very profitable trading strategy. Stay with your plan, you've been doing an awesome job!
- Status