Taking 410K to 4million by Year End 2010

neke · Jul 4, 2010

Quote from NoDoji:

Neke, when you started the year you were looking at doing more swing trades. I thought that was a really good idea, allowing you to average in (if necessary) over time based on an expected RTM move. I recommended SHLD options as a good swing trade idea in January and it went from a high of $106 the next trading day straight down to the $88's over the following 2 1/2 weeks. I'm wondering why you haven't done any swing trades, considering buying options defines your absolute risk.

I'm glad to see you posted your cumulative results because it's annoying to see all the posters on your thread who are certain that you are on the road to ruin when in fact you have done very well when the entire picture is in view.

We started out over 20 years ago with nothing but $5K to put down on a house and eventually leveraged the growing equity in the house to finance a business, purchase an office building, and do some buy and hold investing in high dividend stocks.

Our overall equity curve from, say, 2007 with stocks and real estate hitting downright silly levels, through the present, would look somewhat dismal, but it's a far different picture when viewing our equity curve from our initial investment of $5K through the present.

I thought I would have grown comfortable holding several days, but somehow I still feel there are enough opportunities intra-day there is no need for taking on overnight risk on my discretionary trades. Besides it would be a bad idea to average down into multi-day trades, since the overnight risk calls for reducing risk, not adding to it. Whenever I average in during the day, and feel a need to take a position overnight, I would cut down size considerably and only carry a little position overnight.

Thanks for sharing your own story. We may whine over the current day, but looking back several years we have alot to be thankful for. Happy July 4th.

neke · Jul 10, 2010

Weekly Update for week 26/50 ended 07/10/2010

Bad week, down 11K (4%).

Was away on a course for much of the week, and didn't do much discretionary trade. The big discretionary losers were from going long the market on Tues with options. Promptly paid the price as the rally sold off. Nothing working on the automated front either.

Code:

Opening Balance:                	257,165
Net loss for the week 		      	 11,065
------------------------------------------------
Net Balance:                   		246,100

Number of Trades	            	 16
Number of Profitable Trades    	    	  5


Since Inception of Thread   01/10/2010 - 07/10/2010

Opening Balance:                   	410,000
Net loss(Less Margin Interest)		163,900(Down 40%)
------------------------------------------------
Net Balance				246,100

Number of Trades	           	837
Number of Profitable Trades        	434


BREAK-DOWN BY AUTOMATED/DISCRETIONARY

		Number    P/L            Best Gainer	Worst Loser

AUTO            12      -3,834.50     	 3,613.70      -3,004.90     
DISCR            4      -7,441.30     	 3,182.80      -6,054.50

coolweb · Jul 10, 2010

insanity is repeating the same thing over and over again and expecting different results.
Refine or stop.

trading_time · Jul 10, 2010

Quote from coolweb:

insanity is repeating the same thing over and over again and expecting different results.
Refine or stop.

^ What he said.

billyjoerob · Jul 10, 2010

what's Neke's high water mark? Is it $800k?

billyjoerob · Jul 10, 2010

Hey coolweb at least neke is putting his numbers out there. What are your numbers? having visited your thread and watched you turn every trade into a 5c scratch, I'm guessing your bleeding slowly 5c at a time.

Bolimomo · Jul 11, 2010

Quote from billyjoerob:

what's Neke's high water mark? Is it $800k?

HWM was where he started the year with $410K. Lost $100K in second week, one day, from BIDU option.

neke · Jul 16, 2010

Weekly Update for week 27/50 ended 07/17/2010

Moderately positive week, up 3K (1%).

Mostly buying SPY call options on the dip through the week, until Friday, when a similar attempt mopped up a good chunk of the gains for the week (8.8K loss). The automated front is still not quite delivering yet.

Code:

Opening Balance:                	246,100
Net gain for the week 		      	  2,950
------------------------------------------------
Net Balance:                   		249,050

Number of Trades	            	 28
Number of Profitable Trades    	    	 20


Since Inception of Thread   01/10/2010 - 07/17/2010

Opening Balance:                   	410,000
Net loss(Less Margin Interest)		160,950(Down 39%)
------------------------------------------------
Net Balance				249,050

Number of Trades	           	865
Number of Profitable Trades        	454


BREAK-DOWN BY AUTOMATED/DISCRETIONARY

		Number    P/L            Best Gainer	Worst Loser

AUTO            16       -1,473.90       2,031.20       -3,110.00   
DISCR           12        4,543.70       5,140.80       -8,844.20

gobar · Jul 16, 2010

9% gain in 6 days and u still bought spy call option on friday?

if you really want to make some big money buy aapl 300 put option for 2011.

aapl is going to touch 199 (flash crash low) sooner or later plus possible h&s pattern on aapl and sndk.

Jackie Treehorn · Jul 16, 2010

Quote from gobar:

9% gain in 6 days and u still bought spy call option on friday?

if you really want to make some big money buy aapl 300 put option for 2011.

aapl is going to touch 199 (flash crash low) sooner or later plus possible h&s pattern on aapl and sndk.

word, i have a large short aapl position.