How would YOU know?
Taking 410K to 4million by Year End 2010
- Thread starter neke
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How would YOU know?
See... this is how nasty little rumors get started... 
No update from neke this weekend 
, he always did an update every friday without fail.. could these blowup rumours be true :eek:
, he always did an update every friday without fail.. could these blowup rumours be true :eek:Why do you all gloat and wish for his demise?
Why would you short AMZN in the after hours market at 102.50. Listen.... forget staying away from earnings STAY AWAY FROM PRE MARKET AND AFTER HOUR TRADING!!!
QUOTE]Quote from neke:
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.
[/QUOTE]
QUOTE]Quote from neke:
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.
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 -6,861.50
Schadenfreude.
Neke stated last week he needed to evaluate his trading and consider that maybe he's taking some time off:
I suggest everyone gloating and wishing for his demise review page 76 of this thread where he posts his long term equity curve, and compare your own results to Neke's stunning results from a balance of $5000 in 2004 to the present.
Sorry about the belated post. Was away from Thurs on a trip where I had no chance to get on the web or trade, just coming back. Funny the kind of imagination at work. For the week (3 days of trading) lost about 2.5K. More details after I have rested. I think I indeed need some Bahamas cooling off.
See, it was ridiculous to think a few options trades gone bad could wipe out the remaining $200k in Neke's account. Nobody could be that bad at trading - that amount is at least an Audi R8!
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