Not speaking for Neke, but I am inclined to think he would be the first to disagree....I certainly do....
NiN
Taking 410K to 4million by Year End 2010
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Not speaking for Neke, but I am inclined to think he would be the first to disagree....I certainly do....
NiN
You can't say that the BIDU losses were an aberration . . . when you take massive options positions on volatile stocks, it's part of the plan.
This is exactly what I think will happen as well. An aggressive trader like Neke needs to either start shorting or go to cash and wait for better entry points to go long.
If the market drops tommorrow which could very well happen then things get accelerated the shorts might be too late by 10 am. I'm already short but its too late for new shorts until tonight/tommorrow is clear.
Neke has the mental make up of a trader and not an analyst like most on this site. Having the mindset to handle drawdown and to battle back is not found in many traders, that's why I said he is probably the best trader on this site. I'm sure there are much better analyst on this site, but I was just looking at his mindset.
Weekly Update for week 45/50 ended 11/19/2010
Another positive week, up 15K (4.9%).
Was mostly a week of caution. Made some 4K gain Monday, lost 8K on Tue with the market sell-off as I was mostly long. Refrained from trading Wed/Thur partly from lack of opportunities and partly because of lack of time (too busy in my office). Finally nailed it on Fri mostly with CRM, buying the CALL on the first pull-back today.
Surprisingly my automation made no trades as well.
Another positive week, up 15K (4.9%).
Was mostly a week of caution. Made some 4K gain Monday, lost 8K on Tue with the market sell-off as I was mostly long. Refrained from trading Wed/Thur partly from lack of opportunities and partly because of lack of time (too busy in my office). Finally nailed it on Fri mostly with CRM, buying the CALL on the first pull-back today.
Surprisingly my automation made no trades as well.
Code:
Opening Balance: 315,335
Net gain for the week 15,385
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Net Balance: 330,720
Number of Trades 10
Number of Profitable Trades 6
Since Inception of Thread 01/10/2010 - 11/19/2010
Opening Balance: 410,000
Net loss(Less Margin Interest) 79,280 (Down 19%)
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Net Balance 330,720
Number of Trades 1234
Number of Profitable Trades 672
BREAK-DOWN BY AUTOMATED/DISCRETIONARY
Number P/L Best Gainer Worst Loser
DISCR 10 15,356.70 13,111.60 -5,861.00
TOP/BOTTOM DISCRETIONARY TRADES
TICKER ENTRY DATE/TIME EXIT DATE/TIME QTY PURCHASE AMT SOLD AMT GAIN/LOSS TYPE
CRMNOV202010130.0CALL 2010-11-19-10-12-04 2010-11-19-14-57-45 5000 11452 24650 13112 CRM CALL
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SPYNOV202010117.0CALL 2010-11-16-09-52-20 2010-11-16-11-30-20 10000 25489 19600 -5861 SPY CALL
Neke, in your opinion, what do you think changed in the last 6 weeks or so? You spent much of the year going back and forth and taking a string of losses just before your dramatic turn around.
In your view, what do you think has lead to this recovery? Was it a change in strategy, tighter discipline in terms of the trades you are taking, the markets changing to suit your trading style, or maybe something else?
In your view, what do you think has lead to this recovery? Was it a change in strategy, tighter discipline in terms of the trades you are taking, the markets changing to suit your trading style, or maybe something else?
Where all the haters at? lol. Great job neke!.
It could be that a trainwreck gathers more attention then just some trader that lost 19% this year ( with indexes up 10%-15% ). And someone aiming for 1000% return will more often be a trainwreck then a success.
Seriously now your premise is silly it is true people hate losing money so there will be "haters" when someone advocates a trading system that loses money.
There is some recent evidance that Neke's strategy may be evolving for the better due to the critics on this site ( how's that for irony ). But I'm not sure yet. We've just come off two months of the very best trading environment for a hyper-aggressive trading style ( one directional bull move ). I'm sure there are some options traders out there who made 1000% return in two months. But we really should understand the risk elements in play.
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