Taking 410K to 4million by Year End 2010
- Thread starter neke
- Start date
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nope!, that does make it look better...
just keep working on not averaging down and you'll be well away Neke. Remember quite often traders that use averaging down in their strategies swear that it works for them, until they go one average too far...then they are broke traders!
So keep it clean and the sky is your limit...
ps.I think you have an awesome appetite for risk, I couldn't do what you do!
Hello Neke,
I read this entire thread over the weekend and there is some great advice here. When I read your posts I am reminded of the words, "it's a young man's game" which I heard many years ago when I began my trading career. I went broke trading the way you do. Like you I started with a ridiculously small amount of money and ran it up to a respectable sum. I suffered drawdowns like you did in January and as I got older I was less fit to withstand them psychologically. They were my undoing.
From what I can see even if you make a full recovery you will always be prone to the disasters you faced with the Bidu call trade earlier this year when you pursue this trading style. That is what happens with your discretionary style. You handle it better then most so far. I wish you the best and I look forward to reading your future posts.
I read this entire thread over the weekend and there is some great advice here. When I read your posts I am reminded of the words, "it's a young man's game" which I heard many years ago when I began my trading career. I went broke trading the way you do. Like you I started with a ridiculously small amount of money and ran it up to a respectable sum. I suffered drawdowns like you did in January and as I got older I was less fit to withstand them psychologically. They were my undoing.
From what I can see even if you make a full recovery you will always be prone to the disasters you faced with the Bidu call trade earlier this year when you pursue this trading style. That is what happens with your discretionary style. You handle it better then most so far. I wish you the best and I look forward to reading your future posts.
the money is there waiting for you,some of it is at the top of mt aetna,inside the volcano, but it's there, some 300 ft under water,both are high risk ,high reward sums, some of it is just sitting there on a park bench,smaller amount, but just sitting there,bidu is high risk money....higher the risk, higher the reward, it's always a question of how much risk
Moderately positive week, up 4.5K (1.4%).
Still not a lot moving, just snapping up SPY CALL on the pull-back here and there, gaining some here, losing some there. My automation again found nothing interesting, the couple of times it should have picked some shorts, the stocks were unavailable to short.
Still not a lot moving, just snapping up SPY CALL on the pull-back here and there, gaining some here, losing some there. My automation again found nothing interesting, the couple of times it should have picked some shorts, the stocks were unavailable to short.
Code:
Opening Balance: 330,720
Net gain for the week 4,513
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Net Balance: 335,233
Number of Trades 9
Number of Profitable Trades 6
Since Inception of Thread 01/10/2010 - 11/26/2010
Opening Balance: 410,000
Net loss(Less Margin Interest) 74,767 (Down 18%)
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Net Balance 335,233
Number of Trades 1243
Number of Profitable Trades 678
BREAK-DOWN BY AUTOMATED/DISCRETIONARY
Number P/L Best Gainer Worst Loser
DISCR 9 4,513.00 3,479.30 -4,562.60neke congrats on a good week! I noticed your auto trades seem to be falling off. Any chance you're going to rework them a bit?
Weekly Update for week 47/50 ended 12/04/2010
Negative week, down 10K (3%).
The good win ratio should have meant a positive week but for some nasty beatings in NFLX and the SPY. Lost 16K on Tues trying to call a short-term top on NFLX soon after it rocketed above 200. Got 75 DEC18 200 PUTs @ 8.80. The stock refused to go down, and cost me 16K by end of day. Didn't stay long enough; those options are worth 17.00 now. Will probably look further into possibility of doing some swing trades when opportunities arise. Lost 10K on SPY puts Thursday.
Negative week, down 10K (3%).
The good win ratio should have meant a positive week but for some nasty beatings in NFLX and the SPY. Lost 16K on Tues trying to call a short-term top on NFLX soon after it rocketed above 200. Got 75 DEC18 200 PUTs @ 8.80. The stock refused to go down, and cost me 16K by end of day. Didn't stay long enough; those options are worth 17.00 now. Will probably look further into possibility of doing some swing trades when opportunities arise. Lost 10K on SPY puts Thursday.
Code:
Opening Balance: 335,233
Net gain for the week 10,263
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Net Balance: 324,979
Number of Trades 16
Number of Profitable Trades 11
Since Inception of Thread 01/10/2010 - 12/04/2010
Opening Balance: 410,000
Net loss(Less Margin Interest) 85,030 (Down 21%)
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Net Balance 335,233
Number of Trades 1259
Number of Profitable Trades 689
BREAK-DOWN BY AUTOMATED/DISCRETIONARY
Number P/L Best Gainer Worst Loser
AUTO 1 2,127.90 2,127.90 0.00
DISCR 15 -12,075.40 5,114.60 -15,796.60
TOP/BOTTOM DISCRETIONARY TRADES
TICKER ENTRY DATE/TIME EXIT DATE/TIME QTY PURCHASE AMT SOLD AMT GAIN/LOSS TYPE
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SPYDEC031210124.0PUT 2010-12-02-10-04-17 2010-12-02-15-48-39 17000 36220 25670 -10792.4 SPY PUT
NFLXDEC181210200.0PUT 2010-11-30-10-24-00 2010-11-30-15-29-24 8500 74900 59250 -15796.6 NFLX PUTWeekly Update for week 48/50 ended 12/11/2010
Great week, up 26K (8%). Very few trades, but great win rate (just one losing trade - an automated one losing $886).
Big winner was LULU which I accumulated from pre-market on Thur starting @ 61.70, closing later @ 65.30 avg.
Great week, up 26K (8%). Very few trades, but great win rate (just one losing trade - an automated one losing $886).
Big winner was LULU which I accumulated from pre-market on Thur starting @ 61.70, closing later @ 65.30 avg.
Code:
Opening Balance: 324,979
Net gain for the week 26,297
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Net Balance: 351,276
Number of Trades 7
Number of Profitable Trades 6
Since Inception of Thread 01/10/2010 - 12/11/2010
Opening Balance: 410,000
Net loss(Less Margin Interest) 58,724 (Down 14%)
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Net Balance 351,276
Number of Trades 1266
Number of Profitable Trades 694
BREAK-DOWN BY AUTOMATED/DISCRETIONARY
Number P/L Best Gainer Worst Loser
AUTO 2 671.80 1,557.40 -885.60
DISCR 5 25,307.90 13,539.70 0.00
TOP/BOTTOM DISCRETIONARY TRADES
TICKER ENTRY DATE/TIME EXIT DATE/TIME QTY PURCHASE AMT SOLD AMT GAIN/LOSS TYPE
LULU 2010-12-09-09-22-41 2010-12-09-11-33-51 4700 293310 306883 13540 LONG
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