Taking 410K to 4million by Year End 2010
- Thread starter neke
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AApl always pops on earnings regardless, so i will shave some off today, then pick a re entry tomorrow night/Wednesday....
Ohh relax.....
Im not here to get you to invest money... More times than not... for the last year, appl jumps on any news then sells off, i am a contrarian trader so i would normally take the other side of that and say it wont pop but sell off...
I dont have a clear opinion on it, so i will take chips off the table...
Then re establish because i believe this will sell off long term....
Be wary of those who troll other peoples posts....
Like i said pop,sell off....
Weekly Update for week 28/50 ended 07/24/2010
Ugly week, down 21K (8.3%).
A collection of bad losses accounted for the mess. Nothing outsized by itself, and I did not have much rule violation to report, no averaging down, yet I got clobbered in both discretionary and automated trading. Playing earnings news really hurt me bad. After the negative reaction to strong Intel results, you would think the market would take down any major cap that disappointed. Not so for GS and AMZN, and that cost me quite a lot. For AMZN shorted 2000 shares after earnings @ 102.50 on what looked like terrible earnings for a high multiple stock (thought this was the short of the month). Turned out to be an enormous short trap. Covered Fri pre-market @ 106.20 (Glad I did considering how the stock ran up to 119!)losing 7K.
With a fourth straight week of losses in my automated trades, I am forced to size down and consider whether this is a normal draw-down or a break-down of strategies.
Ugly week, down 21K (8.3%).
A collection of bad losses accounted for the mess. Nothing outsized by itself, and I did not have much rule violation to report, no averaging down, yet I got clobbered in both discretionary and automated trading. Playing earnings news really hurt me bad. After the negative reaction to strong Intel results, you would think the market would take down any major cap that disappointed. Not so for GS and AMZN, and that cost me quite a lot. For AMZN shorted 2000 shares after earnings @ 102.50 on what looked like terrible earnings for a high multiple stock (thought this was the short of the month). Turned out to be an enormous short trap. Covered Fri pre-market @ 106.20 (Glad I did considering how the stock ran up to 119!)losing 7K.
With a fourth straight week of losses in my automated trades, I am forced to size down and consider whether this is a normal draw-down or a break-down of strategies.
Code:
Opening Balance: 249,050
Net loss for the week 20,728
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Net Balance: 228,322
Number of Trades 41
Number of Profitable Trades 19
Since Inception of Thread 01/10/2010 - 07/24/2010
Opening Balance: 410,000
Net loss(Less Margin Interest) 181,678 (Down 44%)
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Net Balance 228,322
Number of Trades 906
Number of Profitable Trades 473
BREAK-DOWN BY AUTOMATED/DISCRETIONARY
Number P/L Best Gainer Worst Loser
AUTO 22 -7,516.70 3,058.30 -3,904.90
DISCR 19 -13,220.30 7,149.30 -6,861.50Neke your down almost 50 percent this year. You are drastically underperforming the market. Maybe you should read when superstar traders meet kryptonite. Some great traders those who made millions have gone bust. I really hope you form a contingency plan just in case things don't make a turn around. Im pulling for you hope you can end the year on a high note.
yes... that was a Maserati car. equivalent which vanished.. same week. I also lost 4K in BIDU.. .it is a portfolio killer.. I have slowly clawed back.. but we are not here to discuss my story.. we are here to offer positive analysis for neke who bares it all.. the trading process in getting refined. one day we will see the light .
as some experienced traders. say " you just don't get it , do you?"
we aspire to cross into the realms of the succesful retail traders( only 1% of the pool). ( common known fact.. trading is a loosing proposition. 99% of retail traders loose in the long run!)
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