Be like "water" - Bruce Lee
Taking 410K to 4million by Year End 2010
- Thread starter neke
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Be like "water" - Bruce Lee
I dont really know why he feels the need to take on so much risk. I wish him well. It's good entertainment too .
These Momemtum stocks such as BIDU GOOG MA PCLN etc are widow makers if you dont have any discipline--i dont have much of it hence I dont trade em-when you play R:R game given the spreads and stuff trading DE JPM SPG etc work out the same as these high power names on steroids
just my 2c as always
just my 2c as always
After a record 2008, 2009 was my lowest earning year since I started trading full time in 2003, and I suspect this year will be even worse. Opportunities are fewer and moves are become more unpredictable. This is a time to survive and wait for better markets.
Your hyperaggressive gut-feel strategy was bound to have a major drawdown, be glad it wasn't an even bigger loss. You must scale back your position sizing. Taking massive intraday option positions is not a feasible sustainable strategy.
And get the idea of hitting four million out of your mind. Such a plan just might have worked in 2008 if you traded perfectly, but the trades are simply not there right now.
Your hyperaggressive gut-feel strategy was bound to have a major drawdown, be glad it wasn't an even bigger loss. You must scale back your position sizing. Taking massive intraday option positions is not a feasible sustainable strategy.
And get the idea of hitting four million out of your mind. Such a plan just might have worked in 2008 if you traded perfectly, but the trades are simply not there right now.
Neke is not an amateur and he has been around a block a few times. We all have taken up the ..... and such is the price for learning this craft. He needs to re group, re focus and re load. I week time off the screens would not hurt either.
Neke, go easy and remember that emotions need to be firmly in check before you go back behind the screen.
Good luck to you and keep your chin up.
Neke, go easy and remember that emotions need to be firmly in check before you go back behind the screen.
Good luck to you and keep your chin up.
Neke,
Do you even read these boards after you post your results. We all pretty much say the same thing after every loss as I'm sure you know. Although, you are getting less "the sky is falling" posts now. Do you just say eff it, stuff happens when you have big losses, or do you just suck it up and let it go knowing that you will inexorably move higher?
BTW, I'm sorry for your loss. You were simply wrong on BIDU, nothing other than being long could have saved you. This happens and you will be at new highs as your gut has brought you this far. This loss will work itself out over time. Have a beer.
Wilt
Do you even read these boards after you post your results. We all pretty much say the same thing after every loss as I'm sure you know. Although, you are getting less "the sky is falling" posts now. Do you just say eff it, stuff happens when you have big losses, or do you just suck it up and let it go knowing that you will inexorably move higher?
BTW, I'm sorry for your loss. You were simply wrong on BIDU, nothing other than being long could have saved you. This happens and you will be at new highs as your gut has brought you this far. This loss will work itself out over time. Have a beer.
Wilt
While I don't think Neke's an amateur, losing 28% of your account in one trade is 100% amateur move.
I love the thread, but I still think Neke makes a ton more cash going for 410k->820k and skips posting about it.
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