Taking 320K to 3.5million by Year End 2009

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Congrats on the baby! Ang gluck trading with the baby on your mind. Looking back this years results are even better taking this news into account.
 
neke,

Have you considered trading thru a Prop Firm? Great leverage (50:1)... gi ven your performances with little leverage, you probably would have been able to grow your account about 10 fold if you had the trades in 2008 leveraged at 50:1...


Walt
 
Quote from jones247:

neke,

Have you considered trading thru a Prop Firm? Great leverage (50:1)... gi ven your performances with little leverage, you probably would have been able to grow your account about 10 fold if you had the trades in 2008 leveraged at 50:1...


Walt
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What about those option market makers from CBOE who make a living off neke? umemployment is already too high, dont give him any ideas :D
 
Weekly Update for week 8/50 ended 03/07/2009

Ugly, ugly week, down 34K (9%).

Had my account reset (to starting balance) on Monday and Tuesday with steep losses on CMED, and then trying to anticipate a bounce in the market. Lost 31k in SPY stock and options as the market lacked institutional support to stage a bounce - It was a miserable market to watch, four weeks in a row of at least 4% weekly loss, and yet no meaningful bounce! I think it afforded me an opportunity to re-assess my game plan, and my expectation from each strategy. Looks like when I was ready to step up after some little buffer, I am sent back to the starting line. Let's just call this a false start.

Laboured the rest of the week picking up some little pieces here and there.

Code: 
Opening Balance:               	    	367,623
Net loss for the week 		        -33,636
------------------------------------------------
Net Balance:                   		333,987

Number of Trades	            	 28
Number of Profitable Trades    	    	 16


Since Inception of Thread   01/10/2009 - 03/07/2009

Opening Balance:                   	320,064
Net gain (Less Margin Interest)		 13,923	(Up 4.3%)
------------------------------------------------
Net Balance				333,987

Number of Trades	           	169
Number of Profitable Trades        	104

Top/Bottom Discretionary Trades for the week



TICKER	ENTRY DATE/TIME		EXIT DATE/TIME		QTY	PURCHASE AMT	SOLD AMT	GAIN/LOSS	TYPE

SZCOR	2009-03-05-10-14-11	2009-03-05-11-58-38	20000	55800		71000		14886		SPY PUT
DECK	2009-03-02-10-50-46	2009-03-03-09-37-29	5000	189665		201254		11553		LONG
---------------------------------------------------------------------
SPY	2009-03-02-10-41-15	2009-03-02-15-50-57	8000	572800		564000		-8824		LONG
CMED	2009-03-02-09-30-33	2009-03-02-15-37-21	10000	139500		124000		-15522		LONG
SZCCU	2009-03-02-10-41-48	2009-03-03-13-33-36	40000	94000		71008		-23620		SPY CALL

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Hi Neke,

Since I'm an options trader myself, mostly in the SPY and ES, I read your journal from time to time to get some perspective on how you approach your trades. So I was wondering what made you decide to trade CMED this week. I cannot see anything special about it from a volatility stand point that is if you are a long gamma trader. Thanks.
 
Quote from iloveoptions:

Hi Neke,

So I was wondering what made you decide to trade CMED this week. I cannot see anything special about it from a volatility stand point that is if you are a long gamma trader. Thanks.
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That was a (post-)earnings play on the stock
 
Don't worry Neke, everyone has their drawdowns. My month isnt

getting off on the right foot either, but we do what we can right?

Best of luck - CM69
 
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