Taking 410K to 4million by Year End 2010
- Thread starter neke
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no!
Dude.
RTFM!
Weekly Update for week 13/50 ended 04/10/2010
Moderately positive week, up 5K (2.0%).
The week began horribly on Monday. Held only a bunch of shorts in my account, and lost 11K for the day with the market rally. The biggest one was CREE. Faded 3000 @ 76.21, another 2000 @ 77.2, had to take a loss @ 77.60 near the close of the market as the end-of-day squeeze kept the stock rising - bigger size than my current risk level dictates.
Recovered nicely the rest of the week, and added some 5K.
Moderately positive week, up 5K (2.0%).
The week began horribly on Monday. Held only a bunch of shorts in my account, and lost 11K for the day with the market rally. The biggest one was CREE. Faded 3000 @ 76.21, another 2000 @ 77.2, had to take a loss @ 77.60 near the close of the market as the end-of-day squeeze kept the stock rising - bigger size than my current risk level dictates.
Recovered nicely the rest of the week, and added some 5K.
Code:
Opening Balance: 254,512
Net gain for the week 5,008
------------------------------------------------
Net Balance: 259,520
Number of Trades 25
Number of Profitable Trades 17
Since Inception of Thread 01/10/2010 - 04/03/2010
Opening Balance: 410,000
Net loss(Less Margin Interest) 150,480 (Down 37%)
------------------------------------------------
Net Balance 259,520
Number of Trades 471
Number of Profitable Trades 229
SPYAPR172010116.0CALL 2010-04-08-09-33-51 2010-04-08-11-56-05 10000 22500 26500 3856 SPY CALL
CREE 2010-04-05-09-52-27 2010-04-05-15-55-29 5000 387997 383170 -4862 SHORTanother nice week.
Weekly Update for week 14/50 ended 04/17/2010
Mournful week, down 37K (14%).
Just when I thought I've started getting it together managing the risk. On Wednesday, got stopped out of ISRG on my ISRG shorts when the 6K loss limit was violated (such was the relentless uptrend). Took on too much size. Then got a double-whammy on Thursday from the same ISRG after earnings. Bought just after the earnings in after-hours, 1000 @ 397, and added another 500 GOOG @ 580, thinking the negative reaction was unwarranted, all just before leaving the office. Ignored all the flashing red light that the size was too much as the stocks were yet to settle. Drove off from the office, and by the time I got home and checked, as feared both positions were firmly against me. Closed ISRG @ 373, losing 24K, and GOOG @ 566, losing 7K. (Because this was after hours, my position monitor was powerless as the market order to close the positions would not have executed until the following day). I have tried to avoid doing anything with my automation to execute limit orders after hours (whether entry or closing) due to fear of wrong quotes and illiquidity; but with this I will have to extend my monitoring to include orders entered after hours, exiting at a limit if loss limit is exceeded.
Back to reduced size, and days of sorrowing.
Mournful week, down 37K (14%).
Just when I thought I've started getting it together managing the risk. On Wednesday, got stopped out of ISRG on my ISRG shorts when the 6K loss limit was violated (such was the relentless uptrend). Took on too much size. Then got a double-whammy on Thursday from the same ISRG after earnings. Bought just after the earnings in after-hours, 1000 @ 397, and added another 500 GOOG @ 580, thinking the negative reaction was unwarranted, all just before leaving the office. Ignored all the flashing red light that the size was too much as the stocks were yet to settle. Drove off from the office, and by the time I got home and checked, as feared both positions were firmly against me. Closed ISRG @ 373, losing 24K, and GOOG @ 566, losing 7K. (Because this was after hours, my position monitor was powerless as the market order to close the positions would not have executed until the following day). I have tried to avoid doing anything with my automation to execute limit orders after hours (whether entry or closing) due to fear of wrong quotes and illiquidity; but with this I will have to extend my monitoring to include orders entered after hours, exiting at a limit if loss limit is exceeded.
Back to reduced size, and days of sorrowing.
Code:
Opening Balance: 259,520
Net loss for the week 36,826
------------------------------------------------
Net Balance: 222,682
Number of Trades 24
Number of Profitable Trades 11
Since Inception of Thread 01/10/2010 - 04/17/2010
Opening Balance: 410,000
Net loss(Less Margin Interest) 187,318 (Down 46%)
------------------------------------------------
Net Balance 222,682
Number of Trades 495
Number of Profitable Trades 240
ISRG 2010-04-14-09-53-31 2010-04-14-10-48-46 1500 571500 565083 -6455 SHORT
GOOG 2010-04-15-16-05-56 2010-04-15-17-49-17 500 290353 283302 -7070 LONG
ISRG 2010-04-15-16-13-38 2010-04-15-17-49-52 1000 397954 373825 -24149 LONGBad luck buddy..
darn.
so you are saying you first shorted ISRG.. then suddenly decided to go long.. in after hours.?? then (another cardinal sin) left the position and drove home. with no stops in place.. and then finally closed it .
I was short both ISRG and GOOG and was sweating.. but both of mine were OTM positions.. naked calls OTM. 420 strike for ISRG and 650 strike for GOOG.
for my ISRG, I got a margin call in After hours. .for my options as it had spiked to 409. but if u observe the chart ,it was brief
ISRG.- was fully cooked, I think the short strategy would have played out( its easy to say in hind sight) but the pressure was too much... next time If I see such a setup, i will be long rather short and sweating away..
ISRG once ruined me when it jumped from 160 to 225 after results. but since then always its OTM premiums have increased and I choose strikes as far away as possible. but it is another PORTFOLIO Killer.
How so, could you explain?
While you were up the previous week, you took on CREE as 150% of your portfolio.
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