Taking 320K to 3.5million by Year End 2009

[kinggyppo]

Nice job Neke keep losses small.

 

[pcvix]

Quote from neke:

Interestngly, the biggest gain was from ETRM on friday. Bought a token 50000 shares @ 0.90 pre-market (just 45K exposure, or 11% of account). Sold intra-day @ 1.24, gaining 17K.

neke, did you consider shorting ETRM at all?

 

[pneuma]

Quote from cstfx:

Hey neke,

I know you have been having these journals for a few years now and was wondering is this your main source of income - is this what you do? Or is this something on the side and the 117k you have pocketed so far this year nothing more than "black truffle gravy"?

Curious as to the psychology behind the trading.

I would have a bet that the regular job provides a decent income, but not the intellectual challenge. Thus i suspect that the psychology of Neke's trading has less to do with making profits, more to do with the personal fulfillment of the challenge.

For me that's how trading should be, profits come way down the list when it comes to the motivations behind trading.

pneuma

 

[NoDoji]

Quote from pcvix:

neke, did you consider shorting ETRM at all?

If Neke even contemplated shorting a stock that dropped almost 95%, found rapid support in pre-market @ .50 a share and had a max risk of .90 a share at the point he went long, then I'm closing my NEKE Dec $975K call position

 

[Mike Morrison]

Quote from short&naked:

What... take outrageously high risk? In the end the results will be same.

It's only money, whats the big deal?

 

[neke]

Quote from pcvix:

neke, did you consider shorting ETRM at all? [/QUOTE

Quote from NoDoji:

If Neke even contemplated shorting a stock that dropped almost 95%, found rapid support in pre-market @ .50 a share and had a max risk of .90 a share at the point he went long, then I'm closing my NEKE Dec $975K call position

You got that NOD. It would be insane to short something down so much already for an intra-day trade (assuming Ameritrade allowed that). The risk-reward wasn't there. I took that small position for the dead-cat bounce, got it, and exited.

 

[neke]

Quote from cstfx:

Hey neke,

I know you have been having these journals for a few years now and was wondering is this your main source of income - is this what you do? Or is this something on the side and the 117k you have pocketed so far this year nothing more than "black truffle gravy"?

Curious as to the psychology behind the trading.

I have a regular job (which kept me late friday night). Sure the income from trading helps, but it is not the first line. Haven't withdrawn anything yet this year because the performance hasn't been stellar (plus there is no compelling need).

 

[retaildaytrader]

Ameritrade wont let you do many things. I found that many loosely traded penny stocks cant be traded through Ameritrade. I tried opening up a position on QTWW using a limit order that wasnt over the ask and also on UXG. They wouldnt let me do it and refused the order.

One time when I tried establishing a position in XIN a representative from their risk control department called me and explained why they were rejecting the order.

My experience with IB is that they will take any order. There are no safeguards with them.

Quote from neke:

You got that NOD. It would be insane to short something down so much already for an intra-day trade (assuming Ameritrade allowed that). The risk-reward wasn't there. I took that small position for the dead-cat bounce, got it, and exited.

 

[neke]

Loaded up on FCX puts (FHZVO @2.30). Hope this goes down today!

 

[neke]

Quote from neke:

Loaded up on FCX puts (FHZVO @2.30). Hope this goes down today!

Out at 2.31 break-even. Do not like the action