Taking 410K to 4million by Year End 2010
- Thread starter neke
- Start date
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I think you the mean the know it all little sh!ts that crawl out of the woodwork when neke has a losing week.
Code:
if( neke.weekly_P&L <-$5000) {
elitetrader.post("neke is a gambler.. his risk level is suicide... he is going to blowup sooner rather than later .. blah blah blah");
} else {
// silence
}Weekly Update for week 8/50 ended 03/06/2010
Negative week, down 2.4K. Should have been moderately positive had I restricted myself to only automated trades.
The purpose of instituting a max loss per trade (4K for stocks last week) was to contain the urge to average in endlessly, effectively limiting the damage that could be done. I was stopped out twice this week on my trades (both discretionary) and the slippage is not funny. On SNDA closing 6K shares at the market effectively cost me abot 1.2K in slippage on Monday (went contarian buying the early sell-off after the earnings). Will have to determine under what conditions to exit with market orders vs. trying to "work" my way out, with the risk of the losses increasing.
Will try and add another strategy to my automated arsenal this week-end.
Negative week, down 2.4K. Should have been moderately positive had I restricted myself to only automated trades.
The purpose of instituting a max loss per trade (4K for stocks last week) was to contain the urge to average in endlessly, effectively limiting the damage that could be done. I was stopped out twice this week on my trades (both discretionary) and the slippage is not funny. On SNDA closing 6K shares at the market effectively cost me abot 1.2K in slippage on Monday (went contarian buying the early sell-off after the earnings). Will have to determine under what conditions to exit with market orders vs. trying to "work" my way out, with the risk of the losses increasing.
Will try and add another strategy to my automated arsenal this week-end.
Code:
Opening Balance: 240,560
Net loss for the week 2,428
------------------------------------------------
Net Balance: 238,132
Number of Trades 20
Number of Profitable Trades 9
Since Inception of Thread 01/10/2010 - 03/06/2010
Opening Balance: 410,000
Net loss(Less Margin Interest) 171,868 (Down 42%)
------------------------------------------------
Net Balance 238,132
Number of Trades 343
Number of Profitable Trades 159
Top/Bottom Discretionary Trades for the week
TICKER ENTRY DATE/TIME EXIT DATE/TIME QTY PURCHASE AMT SOLD AMT GAIN/LOSS TYPE
PCLN 2010-03-02-09-57-45 2010-03-02-15-59-26 1000 241400 244150 2733 SHORT
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SNDA 2010-03-01-09-33-11 2010-03-01-09-43-20 6000 248949 243780 -5193 LONGGood job neke. Seriously, it wasnt a plus week, but 2k is a lot less than the 10k losses you've been taking.. what's this new strategy you mention?..can you tell us more? has it been backtested?
kon
kon
here's an idea:
short appl.
go all-in at ~219, dump at least 10,000 shares into it, keep half your leverage in reserve.
and wait until the sell-off bottoms out around, oh, wednesday.
you'll make about 10-15 a share if you watch the real time charts closely for the micro bounces.
but that's just what i would do...
my trades this week:
SQNM NEM BUCY QCOM CRA UAUA
oh, and APPL and GOOG.
that's about it.
good luck neke. i'll be rooting for you.
Neke, dont wanna say you are hopeless but you took discretionary trades 2 weeks after you suffered a massive loss and promised yourself to entirely focus on automation? I dont get it or did I misread your post that time?
I think how some posters praise you is bollocks. Even if you had made 100k in discretionary trades past week it would have been plain wrong and was the worst that could have happened cause it means you took again outrageous risk right after you suffered a devastating loss. Why dont you stick to your own decision to only do automated trading for a while until you have put down IN WRITING a better risk management plan for your discretionary approach...just my 2 cents
I think how some posters praise you is bollocks. Even if you had made 100k in discretionary trades past week it would have been plain wrong and was the worst that could have happened cause it means you took again outrageous risk right after you suffered a devastating loss. Why dont you stick to your own decision to only do automated trading for a while until you have put down IN WRITING a better risk management plan for your discretionary approach...just my 2 cents
No, I allowed myself to enter discretionary trades before 10am (was 945am two weeks ago). After that my position monitor will not allow any discretionary entries. The purpose of allowing some minutes after the open was to allow for some liquidity before initiating a position I may have seen in pre-market.
Q:
How did you manage to code a profitable automated system without knowing how to manually trade yourself?
Is your automated system plucked from like wealthlab or something?
cause to code a profitable system, means you need to relatively know how to trade profitable manually.
From the looks of your manual trading, I personally feel you aren't really insync with the markets or don't understand it at all.
PCLN long - Very bad area to Buy,
In my opinion you were sheeping
SNDA long - insanely bad idea to buy (mainly cause of the gap down and the randomness associated to it)
In my opinion it was a random bet
both ideas follow no rhyme or rule to good trading methology (buy low sell high) how did you manage to code an automated system that makes money?
How did you manage to code a profitable automated system without knowing how to manually trade yourself?
Is your automated system plucked from like wealthlab or something?
cause to code a profitable system, means you need to relatively know how to trade profitable manually.
From the looks of your manual trading, I personally feel you aren't really insync with the markets or don't understand it at all.
PCLN long - Very bad area to Buy,
In my opinion you were sheeping
SNDA long - insanely bad idea to buy (mainly cause of the gap down and the randomness associated to it)
In my opinion it was a random bet
both ideas follow no rhyme or rule to good trading methology (buy low sell high) how did you manage to code an automated system that makes money?
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