Right.
Taking 410K to 4million by Year End 2010
- Thread starter neke
- Start date
- Status
+1
A week is short enough to be just a blip in the recent trends. Key question is what has been done to prevent what has been happening last few WEEKS. I ran a journal here before and I remember how during the decline (after a spectacular 5 months) I would have a great week here and there that only REDUCED my resolve to fix the real problems.
"We are what we repeatedly do. Excellence therefore is not an act but a habit.." Aristotle
Someone posted something gone for whatever reason.. anyway the point is for the emotional types public journals are the demon. The cheering on good weeks and opposite on down weeks really eggs on the trader precisely when they should be level headed..
THE most important question for Neke to answer is:
"What did I do last week and can it be repeated consistently?"
THE most important question for Neke to answer is:
"What did I do last week and can it be repeated consistently?"
What he did last week based on the trades he posted here:
A) Several big winners trading with the trend (buying strong stocks and buy a dip in a strong market).
B) A big loser fighting the trend (shorting a strongly uptrending stock that gapped up even more on great news).
Do more "A" and stop doing "B"
Quote from NoDoji:
What he did last week based on the trades he posted here:
A) Several big winners trading with the trend (buying strong stocks and buy a dip in a strong market).
B) A big loser fighting the trend (shorting a strongly uptrending stock that gapped up even more on great news).
Do more "A" and stop doing "B"
It looks to me like he invested 65% of his remaining funds in high risk options positions on volatile stocks. Yes, he made 60K, but to me he is taking on huge risks to get those rewards. Hopefully he doesn't need the 250K because I can see where this is going. He's going to take his new "confidance" to take on even bigger risks.
The result will be a total recoupment of the 410K. Or the account will be blown out within 6 months, which could occur if he takes a 50% drawdown on a market correction and is holding a lot of short term calls.
ps With regard to most securities I agree with you keeping your winners and selling your losers is a good strategy. Options however not necessarily the case, in certain situations the risk heightens and you just need to get out.
- Status