Taking 410K to 4million by Year End 2010

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Weekly Update for week 12/50 ended 04/03/2010

Positive week, up 7.8K (3.2%).

Nice week with no major surprise, and no forced liquidation. Made two options trades, one lost 1.8K the other gained 2.9K. My automated strategies performed really well, with maximum loss of just $802 and maximum gain of $2,200.

Will ramp up average dollar size on my automated stock strategies next week to 62.5K (25% of balance of c. $250K) from the existing 48K (20% of then balance of $240K). This is in line with my acceleration formula. Forced liquidation limit for my discretionary trades remains 6K for stocks, and 9K for options.


Code: 
Opening Balance:                	246,665
Net gain for the week 		      	  7,847
------------------------------------------------
Net Balance:                   		254,512

Number of Trades	            	 17
Number of Profitable Trades    	    	 10


Since Inception of Thread   01/10/2010 - 04/03/2010

Opening Balance:                   	410,000
Net loss(Less Margin Interest)		155,488 (Down 38%)
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Net Balance				254,512

Number of Trades	           	446
Number of Profitable Trades        	212

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Quote from neke:

Weekly Update for week 12/50 ended 04/03/2010

Positive week, up 7.8K (3.2%).

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Awesome week, Neke!

I noticed you do a lot of trades despite having a full time job. Is this your automated system doing most of that, and are you able to monitor it, or are you simply trusting it to handle everything properly?
 
Quote from NoDoji:

Awesome week, Neke!

I noticed you do a lot of trades despite having a full time job. Is this your automated system doing most of that, and are you able to monitor it, or are you simply trusting it to handle everything properly?
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Au contraire I am doing less discretionary trades now that my automation is coming along. This week I did only 7 discretionary trades (or average less than 2 a day). I can handle that with my normal job. The automated trades are discovered, initiated, and closed by the computer (except when I can't resist the urge to intervene manually!!!).

Kudos to you for catching me with your April fool's joke (Trader P/L), in spite of being on the watch after being fooled earlier today.
 
Nice job this week neke.

Question, how did you setup your automated system? How much did it cost to program, and does it run on your computer, or does it run on a server somewhere that has a direct connection to the exchanges?

There is a company called Rithmic that runs automated systems for people on their own servers that have direct connections.

kon
 
Quote from konviction:

Nice job this week neke.

Question, how did you setup your automated system? How much did it cost to program, and does it run on your computer, or does it run on a server somewhere that has a direct connection to the exchanges?

There is a company called Rithmic that runs automated systems for people on their own servers that have direct connections.

kon
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I wrote the programs myself (and of course all the research leading to the strategies). Runs on my computer at home while I toil away in the office for my regular job. No direct connections to the exchange. I 'm not a high-frequency-trader
 
Wait! I thought you blew up your account?

:D

Nice trading neke chipping away at the numbers. Glad to see you are getting better at tuning out the noise.
 
Quote from FutsTrader111:

I hadn't checked this thread in over 2 months. Sorry to say Neke, but you are not going to make it in this game if you don't learn to put in what I call "disaster prevention" rules to stop you from blowing up.

You should have time framed drawdown rules in your business plan.

Here are my rules:

1) A 5% drawdown in any 20 day stretch requires position resizing of half of original intent.

2) A 8% drawdown in any 20 day stretch requires 2 months of time away from the markets.

3) A 15% drawdown in any 60 day stretch requires a 4 months of time away from the markets.

4) A loss of 30% or more in the funds entirety requires a shutdown of operations and to never return to trading.

5) As long as there is a portfolio loss, you are not allowed to take on any position with original sized intent. In addition, you may not trade more than 50% of capital in sum until you have brought your portfolio to a gain.

This is the second time I've seen you drawdown like this Neke. You need to penalize yourself. You need consequences. It is the only way to prevent you from taking on big drawdowns like this.

You are taking on too many trades in a market that is light in volatility. In other words, your system is chopping you up and up good.

In addition, when you press yourself with too lofty of a goal, you take on more than you can chew. Realize, that if you can do 50% year over year you are doing well. Perhaps set goals you can achieve rather than trying to impress.
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Man, you're quite the dictator.

#4 is ludicrous. You're not going to learn anything if you don't blow out a few times. Never return to trading? lol.

Let's be realistic here. With all the time you're taking off from trading, you're never going to learn anything.
 
Quote from athlonmank8:

Man, you're quite the dictator.

#4 is ludicrous. You're not going to learn anything if you don't blow out a few times. Never return to trading? lol.

Let's be realistic here. With all the time you're taking off from trading, you're never going to learn anything.
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Yes, by that rule I should have quit within two weeks of opening an account in Dec 1999, and even measuring since my first thread in 2007, I should have quit at least 4 times.
 
= "gambling"
---------------------------------------------------------------------------------
. Balls. If you don't bet big, you will have a hard time making big returns. You have to be able to deal with big drawdowns if you want to make high returns.
 
Quote from Pumpy Dumper:

Buy BIDU at market open on Monday. If it opens flat, put your stop in at 582. If it opens down, put your stop in somewhere between 570 and 585 depending on the open. I think BIDU has fairly high probability of going to 610-615. Sell around there somewhere or wait for a close below the upper bb before your sell is triggered.
Now I'm off to light up some granddaddy purp kush... :cool:
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Hit my mark in 6 days. The probabilities were with me. Anything over 630 is a screaming sell according to my 'system'. Also, if 613 holds as support tomorrow, increase the size. It's all based on the open tomorrow. Exit can be determined thereafter through intraday trending and watching for the break. :eek: Ok I'm done
 
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