Taking 320K to 3.5million by Year End 2009

short&naked · Jul 11, 2009

Quote from neke:

How? Are you saying if I have 200K, spending 60K on a stock position for a day-trade is outsized?

I think that he thought you were talking about risk per trade.

JAP · Jul 12, 2009

Quote from inomad:

I don't know what answer you'll get from OP , but I'd say YES. Very much outsized.
And why dont't you take some swing trades also? Your account is big enough to keep some positions overnight and also daytrade.
Just my 2 cents.

Outsized is an understatement... way too much risk here. Shooting for 10x return on your money in 1 year is not very realistic either. Might as well go to Vegas and play it on black or red.

Still, I got to give Neke props for putting himself out there and for his honesty.

trader_david · Jul 13, 2009

your account is too large. you need withdraw some money from it, or you need split it into several accounts.
one account keep 150k, load some mutual funds or etfs, find good spot and stay there for several months or years

another account is aroun 50k, do day trading, produce some positive cash flow

the remaining is just withdrew, you do not need so much money on the market

bwolinsky · Jul 13, 2009

Quote from JAP:

Outsized is an understatement...

30% on stocks would be, but not on ETF's. Automation on spy calls and puts is fine.

way too much risk here.

just for stocks
Shooting for 10x return on your money in 1 year is not very realistic either.

Yes, but it's his thread

Might as well go to Vegas and play it on black or red.

Not quite.

Still, I got to give Neke props for putting himself out there and for his honesty.

No problem here

BarbaraM · Jul 13, 2009

Quote from JAP:

Outsized is an understatement... way too much risk here. Shooting for 10x return on your money in 1 year is not very realistic either. Might as well go to Vegas and play it on black or red.

I agree, lots of dreaming.

illiquid · Jul 13, 2009

Quote from neke:

How? Are you saying if I have 200K, spending 60K on a stock position for a day-trade is outsized?

For an intraday time-frame, you are trading way too big, especially in certain options.

Most people think if they don't hold overnight they can put on a huge position, but that's exactly why those trades usually fail.

bwolinsky · Jul 13, 2009

Quote from illiquid:

For an intraday time-frame, you are trading way too big, especially in certain options.

Most people think if they don't hold overnight they can put on a huge position, but that's exactly why those trades usually fail.

Only in options would that be the case. He's talking about ETF's though, I think, and that's a fine size.

illiquid · Jul 13, 2009

PS: Kinda late with this observation, but daytraders usually don't think in terms of % return; it's all about getting green day in, day out. A skilled trader wouldn't need much more capital than what you have to begin with, and be able to bank a 7-figure year while taking out profits each and every month.

Why not just bail on this thread's goal and have a monthly/daily target instead? It's a (mostly) silly trading forum after all, why not get serious about what's important and let the pie in the sky go?

illiquid · Jul 13, 2009

Quote from bwolinsky:

Only in options would that be the case. He's talking about ETF's though, I think, and that's a fine size.

I'm referring to trades like buying 2k atm puts on FSLR the week of expiration. D'ya think the mm's are gonna let him get away with that stuff?

NoDoji · Jul 13, 2009

Quote from illiquid:

I'm referring to trades like buying 2k atm puts on FSLR the week of expiration. D'ya think the mm's are gonna let him get away with that stuff?

I do not believe Neke ever bought 2000 of any option.