Taking 320K to 3.5million by Year End 2009

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Quote from increasenow:

Neke...I would imagine you did take the below 2k to the 320k that this journal started with...correct?...where did you get this 320k to trade with? cash in a 401k, IRA, inheritance, savings, cash from other business, rich uncle?
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Since this question is directed at me, let me try and give a brief summary before someone speculates too far. I mentioned that I started my trading in Dec 1999, opening my account with Datek Online (now part of Ameritrade) with deposit of 16K (6K+10K), basically my whole savings from my job, and within 2 weeks I lost 50% of that. A screen shot of those initial balance and trades are attached (good thing Ameritrade keep their online history as far back as that). Through the years till Nov 2004 I lost a cummulative of 54K (account goes down, replenish, get the next drawdown, and so on). By that point in time I had also opened an IB account with a little over 2K which I was trading as well. At that time, the balance in the two accounts came to 5.3K. Every thing in the account now sprung from that balance with some additional deposits, and lots of withdrawals as follows:

Code: 
Balance Nov 12, 2004	5.3K
Deposit			3.2K
P/L 			8.7K
Withdrawal	       -2.2K
-------
Balance Dec 31, 2004	15K
Deposits		13K	(made the deposits Mar/Apr after a drawdown that brought the balance below 25K, after being tagged a PDTrader)
P/L 2005		132K
Withdrawals		-25K    (Aug thru Dec)
			----
Balance Dec 31, 2005	135K		(transferred my balance in IB to Ameritrade in january 2006, and closed the account)
P/L 2006		125K
Withdrawals	       -169K		(taxes and funding a project)
			----
Balance Dec 31, 2006	 91K
Jan 2007 P/L		-30K
Feb P/L			 20K
Withdrawal		-5K
---------------------------
Balance 28 Feb 2007	76K
The rest of the story is in my first thread (Taking 76K to 500K by Year End) and subsequent ones.
 

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Quote from trading_time:

would you like to clarify this a bit more, I am confused. Thanks.

TT
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Proper trading, with a trading plan, rules for entry and exits, pre-calcularted PL ratios, scans based on technical or fundamental for stock selection, etc. etc, i.e. a system for trading is only like gambling if you are a pro, you count cards, or have some other system to beat the house.

If you go long or short a stock because "it looks cheap" or "it feels right" or "a friend (analyst) told me to buy (particularly free advice)", it's like the amateur at the roulette/poker/BJ table whos there for the fun of it, and hits based on gut or bets on the black cause his friend next to him told him to.

It is clear neke isn't a gambler, he has his own system which choses not to disclose which is great. I wish someday I could develop such a system myself!

But if you're sharing a jornal with others and write that "you bet on XYZ stock because of it's upgrade" it gives the impression you are making bets and not trades, that's all and that if you made a profit it's because the wind was behind your sails! Not because you planned it.
J
 
Quote from neke:

Since this question is directed at me, let me try and give a brief summary before someone speculates too far. I mentioned that I started my trading in Dec 1999, opening my account with Datek Online (now part of Ameritrade) with deposit of 16K (6K+10K), basically my whole savings from my job, and within 2 weeks I lost 50% of that. A screen shot of those initial balance and trades are attached (good thing Ameritrade keep their online history as far back as that). Through the years till Nov 2004 I lost a cummulative of 54K (account goes down, replenish, get the next drawdown, and so on). By that point in time I had also opened an IB account with a little over 2K which I was trading as well. At that time, the balance in the two accounts came to 5.3K. Every thing in the account now sprung from that balance with some additional deposits, and lots of withdrawals as follows:

Code: 
Balance Nov 12, 2004	5.3K
Deposit			3.2K
P/L 			8.7K
Withdrawal	       -2.2K
-------
Balance Dec 31, 2004	15K
Deposits		13K	(made the deposits Mar/Apr after a drawdown that brought the balance below 25K, after being tagged a PDTrader)
P/L 2005		132K
Withdrawals		-25K    (Aug thru Dec)
			----
Balance Dec 31, 2005	135K		(transferred my balance in IB to Ameritrade in january 2006, and closed the account)
P/L 2006		125K
Withdrawals	       -169K		(taxes and funding a project)
			----
Balance Dec 31, 2006	 91K
Jan 2007 P/L		-30K
Feb P/L			 20K
Withdrawal		-5K
---------------------------
Balance 28 Feb 2007	76K
The rest of the story is in my first thread (Taking 76K to 500K by Year End) and subsequent ones.
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The first million is always very questionable.
:D :D :D
 
If I hear one more person say "too much leverage...too much risk" I will blow my top..

THE GUY IS TRYING FOR A 10 BAGGER IN 1 YEAR

OF COURSE HIS RISK/MAX DRAWDOWN IS GOING TO BE SIGNIFICANTLY HIGHER THAN YOURS, WE AIN"T LOOKING AT A NICE COMFY 25%

Ontop of that he's openly accepted he can and will go broke for taking a shot at the target.

If your buddy walked into a casino (assuming he is also +ev) with a $100 note, and said "I want this to turn into $1000, i'm prepared to go bust"...Would you suggest he start betting $3 per hand??....

Don't get me wrong, Neke's appetite for risk is well beyond what I could ever cope with... But he needs to assume this risk to have any shot at the objective..

Love it/Hate it/Agree/Disagree this has got to be the most entertaining journal on ET...

my 2c
 
Weekly Update for week 41/50 ended 10/24/2009

A nice week, up 72K (13%). Decent win rate (34 out of 48) made up for lack of home runs.

Missed the big action in AMZN for the most part on Friday. Stayed away as it did not pull-back at the open to my target. Finally entered in the afternoon after a minor pull-back from 117.40 to 116.50, getting 200 NOV 115 calls @ 6.4, sold later for 7.30. Astonishing to see the size of the move for a big company like AMZN after earnings. Looks so much like the dotcom days.

Need to strive to hold up the uptrend as we approach the final part of the year.

Code: 
Opening Balance:               	    	562,316
Net gain for the week 		         72,675
------------------------------------------------
Net Balance:                   		634,991

Number of Trades	            	 48
Number of Profitable Trades    	    	 34


Since Inception of Thread   01/10/2009 - 10/24/2009

Opening Balance:                   	320,064
Net gain (Less Margin Interest)		314,927	(Up 98.4%)
------------------------------------------------
Net Balance				634,991

Number of Trades	           	1098
Number of Profitable Trades        	 699


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

QZNKC	2009-10-23-13-57-56	2009-10-23-15-13-20	20000	128000		146200		17915		AMZN CALL
FHZWQ	2009-10-23-09-43-31	2009-10-23-11-00-49	20000	86000		103000		16723		FCX PUT
ISRG	2009-10-21-09-35-11	2009-10-21-10-29-50	6000	1503758		1519509		15670		SHORT
APVKT	2009-10-20-10-17-46	2009-10-20-10-46-32	15000	81600		90000		8189		AAPL CALL
AAPL	2009-10-21-13-37-36	2009-10-21-15-34-19	6000	1233024		1240734		7643		SHORT
------------------------------------------------------------
APVWT	2009-10-21-10-47-08	2009-10-21-15-33-18	40000	159000		150000		-9545		AAPL PUT
PENN	2009-10-21-09-42-13	2009-10-21-11-00-36	10394	301409		291536		-9902		SHORT
LXK	2009-10-21-09-56-05	2009-10-21-12-46-14	11000	314301		303886		-10458		SHORT

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Quote from neke:

Weekly Update for week 41/50 ended 10/24/2009

A nice week, up 72K (13%). Decent win rate (34 out of 48) made up for lack of home runs.
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Congrats mate. I still can't believe that after 3+ years some people round here don't think you know what you are doing. Fk em and keep up the good work.

Looking forward your next journal - 1m to 10m!

pneuma
 
Quote from neke:

Since this question is directed at me, let me try and give a brief summary before someone speculates too far.
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Quote from epetrov:

The first million is always very questionable.
:D :D :D
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Neke was an offshore coke smuggler who met up with a girl while on vacation in Panama and fell in love. He later found out her father was one of the largest dealers out of South America and got intertwined in the family business. 200 helicopter shipments later off the Florida keys and he netted a nice sum of 320k that he'd like to move to 3.5 million by year end. Why 3.5 million? Some triads out of Hong Kong put a hit on him and have kidnapped his girlfriend. The only way to get her back and remove the hit is to pay them 3.5 million dollars or him and all his friends and family will die. Will he succeed, or will the he fail? Stay tuned folks.
 
Quote from sub0:

Neke was an offshore coke smuggler who met up with a girl while on vacation in Panama and fell in love. He later found out her father was one of the largest dealers out of South America and got intertwined in the family business. 200 helicopter shipments later off the Florida keys and he netted a nice sum of 320k that he'd like to move to 3.5 million by year end. Why 3.5 million? Some triads out of Hong Kong put a hit on him and have kidnapped his girlfriend. The only way to get her back and remove the hit is to pay them 3.5 million dollars or him and all his friends and family will die. Will he succeed, or will the he fail? Stay tuned folks.
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LoL Sub0. Good job Neke. Double again and you will have made your target, despite the worrisome tribulations you experienced that made you better.

Wilt
 
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