Anyone can trade from the middle of the chart. Hang in there, those 64k weeks are just a matter of time. As if im not jelious enough of you. 
Taking 320K to 3.5million by Year End 2009
- Thread starter neke
- Start date
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The exposure to options should be proportional to the square root of the number of days to expiration, subject of course to not exceeding the optimum. The formula used would be f = max(sqrt(daystoexp / 20),1) * g(cratio, histf(strategy), recentf(strategy)).
This means if there are 20 or more trading days to expiration, no reduction will be made to the sizing. If there are 5 days, only half of normal size will be taken, and if one day to expiration 22% of normal size will be taken. This should shield me from excess leverage close to expiration.
The other components of the formula will just be combined into one, optimal(strategy), the detailed derivation will be made at the beginning of each week for each strategy. The final formula becomes:
f = cratio ^ 2 / (1 + cratio^2) * max(sqrt(daystoexp / 20),1) * optimal(strategy)
Neke, do you use minute charts or tick bars for your intra day trades?
Weekly Update for week 6/50 ended 02/21/2009
An OK week, up 20K (6%). Makes me look like a genius, considering how terribly I traded: rule violations and missed opportunities.
Did fairly OK on Tue, Wed. Then Wed evening bought 2000 shares of PCLN @ 76 after their nice earnings. The following morning, shortly after the open, my greed got the hold of me and added another 6000 shares at the much higher price. As if that was not enough bought 200 contracts of the FEB 80 CALL @ 2.20 average apiece and watched as the stock pulled back some afterwards. Closed the option at 1.25, losing 19K, offset somewhat by the 9K gain on the stock. It was not surprising to see that stock close at 83.75 on Friday even in a down market, after inflicting that pain on me. Now that I have defined the rule for position sizing with regards to days to expiration, I hope I will have the discipline to stick to it.
Made up for the loss on Fri catching the bounce on the SPY with some MAR calls.
An OK week, up 20K (6%). Makes me look like a genius, considering how terribly I traded: rule violations and missed opportunities.
Did fairly OK on Tue, Wed. Then Wed evening bought 2000 shares of PCLN @ 76 after their nice earnings. The following morning, shortly after the open, my greed got the hold of me and added another 6000 shares at the much higher price. As if that was not enough bought 200 contracts of the FEB 80 CALL @ 2.20 average apiece and watched as the stock pulled back some afterwards. Closed the option at 1.25, losing 19K, offset somewhat by the 9K gain on the stock. It was not surprising to see that stock close at 83.75 on Friday even in a down market, after inflicting that pain on me. Now that I have defined the rule for position sizing with regards to days to expiration, I hope I will have the discipline to stick to it.
Made up for the loss on Fri catching the bounce on the SPY with some MAR calls.
Code:
Opening Balance: 343,438
Net gain for the week 20,325
------------------------------------------------
Net Balance: 363,763
Number of Trades 17
Number of Profitable Trades 10
Since Inception of Thread 01/10/2009 - 02/21/2009
Opening Balance: 320,064
Net gain (Less Margin Interest) 43,699 (Up 13.7%)
------------------------------------------------
Net Balance 363,763
Number of Trades 131
Number of Profitable Trades 81
Top/Bottom Discretionary Trades for the week
TICKER ENTRY DATE/TIME EXIT DATE/TIME QTY PURCHASE AMT SOLD AMT GAIN/LOSS TYPE
SZCCZ 2009-02-20-14-43-46 2009-02-20-14-53-49 45000 153000 166500 12810 SPY MAR CALL
PCLN 2009-02-18-16-11-42 2009-02-19-15-39-36 8000 632896 641654 8720 LONG
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CMCSA 2009-02-18-08-37-35 2009-02-18-09-49-49 10000 132500 124000 -8515 LONG
PUZBP 2009-02-19-09-37-35 2009-02-19-15-38-41 20000 44000 25000 -19321 PCLN FEB CALLRules violations !!! Who gives a shit ?
If justified ,fair enough...keep doing what makes you feel comfortable..the only one who knows about the "discomfort" will be you and you are in control.
I look forward to a profitable journal this year...good luck.
If justified ,fair enough...keep doing what makes you feel comfortable..the only one who knows about the "discomfort" will be you and you are in control.
I look forward to a profitable journal this year...good luck.
A least you made a profit over last week. How does day trading with TDameritrade not kill you in commission costs?..why not get a direct access broker?, and what was the strike on your SPY mar calls?
thanks.
thanks.
Weekly Update for week 7/50 ended 02/28/2009
Flattish week, up 3.8K (1%). It was a fantastic week on another front with the birth of our baby boy. Spent most of the week on errands, though managed to flip a few trades in between errands.
Flattish week, up 3.8K (1%). It was a fantastic week on another front with the birth of our baby boy. Spent most of the week on errands, though managed to flip a few trades in between errands.
Code:
Opening Balance: 363,763
Net gain for the week 3,860
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Net Balance: 367,623
Number of Trades 10
Number of Profitable Trades 7
Since Inception of Thread 01/10/2009 - 02/28/2009
Opening Balance: 320,064
Net gain (Less Margin Interest) 47,559 (Up 14.9%)
------------------------------------------------
Net Balance 367,623
Number of Trades 141
Number of Profitable Trades 88neke,
Congrats on the new baby!
Congrats on the new baby!
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