Taking 320K to 3.5million by Year End 2009

Status
Not open for further replies.
Quote from TMcKenna:

Hello Neke,

This is first time i post my comment here..
I can't understand your choice of stocks (options) you trade...
Why don't you take something more certain than some shit banks or overvalued solar stocks?
More...


It's not like nobody ever warned him.

He shouldn't even be touching anything but currencies or index futures with that size. I made this clear last year but was smacked down quickly by neke's cheerleading squad.

BGU or SSO might do the trick. Those on options will give you all the action you need. (In fact they are perfect for Neke's strategy).
 
Quote from neke:

05/02/2009
Weekly Update for week 16/50 ended 05/02/2009

Awful, awful week, down 43K (13.8%). Thought I bottomed two weeks ago. Now it gets uglier.

What began as a good week on Monday, with a +20K gain, got progressively worse as the days went by, reaching a climax on Thursday with two PUT options on FSLR after their earnings ( a veiled attempt at averaging down) ending disastrously. This is depressing. Need to get the market off me for some days, and hopefully have better clarity.

Code: 
Opening Balance:               	    	308.174
Net gain for the week 		        -42,517
------------------------------------------------
Net Balance:                   		265,657

Number of Trades	            	 33
Number of Profitable Trades    	    	 17


Since Inception of Thread   01/10/2009 - 05/02/2009

Opening Balance:                   	320,064
Net gain (Less Margin Interest)		-54,407	(Down 17%)
------------------------------------------------
Net Balance				265,657

Number of Trades	           	400
Number of Profitable Trades        	249

Top/Bottom Discretionary Trades for the week


TICKER	ENTRY DATE/TIME		EXIT DATE/TIME		QTY	PURCHASE AMT	SOLD AMT	GAIN/LOSS	TYPE
	
WHR	2009-04-27-11-29-38	2009-04-27-12-17-34	10000	476888		487628		10707		SHORT
------------------------------------------------------------
SZCEJ	2009-04-29-14-33-46	2009-04-29-15-32-31	20000	51600		42800		-9122		SPY CALL
HJQQQ	2009-04-30-10-34-47	2009-04-30-11-53-26	10000	97000		84000		-13166		FSLR PUT
HJQQN	2009-04-30-09-30-29	2009-04-30-11-45-15	15000	80000		57500		-22762		FSLR PUT
More...

I would take a break for a couple of weeks Neke. You don't want a run of bad weeks to affect your future trading.
 
seems to me you began to make money last year after the crisis began.....and the volatility increased....before that it was so so.

the same for 2009 where you made money at the beguining of the year when the volatility was still huge.


So it seems to me that you have a strategy that work when the volatility is uge.

Now you need to find a solution for normal day.

Just a direction to maybe think.

Good luck.
 
25000 puts on FSLR?? For an intraday trade? That's not trading, that's donating. :confused:

You need some time off. Maybe also consider the fact that you are getting too big for your time frame in certain names?
 
Maybe I missed it, but I don't recall Neke asking for advise.

It's funny how everytime he stumbles the trading geniuses come out of the woodwork with their proof of why they're smarter than him.

Hopefully Neke has the good sense to employ liberal use of the ignore feature.
 
Quote from Mike Morrison:

Maybe I missed it, but I don't recall Neke asking for advise.
More...


But he is posting his trades for a reason, or?

It's funny how everytime he stumbles the trading geniuses come out of the woodwork with their proof of why they're smarter than him.
More...

Not just then. I've been skeptical even when he was raking in 50k a week.

Ever considered that there is something fundamentally wrong with Neke's strategy? It seems that mentioning anything to this extent is shouted down very swiftly. Interesting.


Hopefully Neke has the good sense to employ liberal use of the ignore feature.
More...

As you said, no need to dictate. Let's leave it up to the OP, ok?


:)
 
As a full time trader for the past 6 years, I've followed this thread with interest.

Neke has a very discretionary trading approach. A combination of market timing and news plays. This style worked quite well for much of 2008 as the financial crisis resulted in alot of forced liquidations and resulting rebounds. Relatively easy to anticipate for the experienced trader.

But that has changed in 2009. Liquidity is gone and stocks can have quite overextended moves based on little reason. Trading stocks based on gut instinct and what you "think" a stock should is increasingly difficult in this market.

You can easily lose big on a moderate position in this market. Add in the emotional self destruction that all discretionary traders are vulnerable too, and its tougher than ever to make a living.

I believe the goal of 320k to 3.5mil is not only completely unrealistic, its also very detrimental as it causes you to take much larger risks per trade than your account can handle. You are only a few -40k weeks away from completely wiping out your account.

2009 is not a year to swing for the fences but rather merely survive and wait for better market conditions.
 
what western said.

only play when the market feels like giving out easy money.

a flat choppy market is the time to go on vacation.

be patient a trading opportunity is coming soon.

volatility will increase, moves will get bigger, the market will trend.

take some time off and plan your attack.

theoretical picture of when to trade next

neke.jpg
 
Status
Not open for further replies.
Back
Top