Taking 76K to 500K by Year End

Status
Not open for further replies.
I'm sorry if my question came out rude. I didn't mean for it to. I follow your path with interest Neke, but hadn't looked at your thread in a while.

Back a couple months ago, you wanted to stop averaging down, having used it with mixed results. I was just wondering if you changed your mind and why?

If you are offended with this post, please disregard it. I really don't mean it that way.
 
I shorted mbi at a good point however I had not idea why it was faling like that, do you know where did they news hit first?I tried yahoo, market watch and nobody reported anything it was only when bloomberg reported that I found out what happened
 
Quote from xiaodre:

Neke, I thought you stopped averaging down awhile back. What happened?
More...

Yes, I should not be averaging down on a losing position. I still break the rule once in a while though.
 
Quote from Daal:

I shorted mbi at a good point however I had not idea why it was faling like that, do you know where did they news hit first?I tried yahoo, market watch and nobody reported anything it was only when bloomberg reported that I found out what happened
More...

I think it was on CNBC I saw it first (was at home then). Saw it go down initially, bounce back briefly to $29 or so, and it started on another leg down to below $26. I thought of shorting, turned away as I didnt think the risk/reward was great, only to rush in impulsively when it went down to $26! Not my game!
 
Quote from neke:

I thought of shorting, turned away as I didnt think the risk/reward was great, only to rush in impulsively when it went down to $26! Not my game!
More...

yeah, frustration got you in that trade.. << a frustrated trader is a trader in trouble >>

but apparently you don't have to be perfect to be up 215% on the year...

you did great...:cool:
 
Quote from Instant Karma:

but apparently you don't have to be perfect to be up 215% on the year...
More...

That's right. If I were perfect I would have aimed for 10,000%
 
I'm curious Neke, and please don't answer if you don't think it's appropriate but if you had lost the 76k sometime this year, would it:

a) Make any material impact on your overall financial stability/status at all?

b) Would you have stopped for the year or grabbed another 76k and try to homerun it?

c) Would you have used a smaller amount and traded differently?

thanks, Neke.
 
Quote from polpolik:

I'm curious Neke, and please don't answer if you don't think it's appropriate but if you had lost the 76k sometime this year, would it:

Not sure how that could have come about, given the monthly withdrawals. But let's assume in the first month, before I had any chance to take out anything, I staked it all on an out-of-money call expiring the next day on a stock with earnings after the close. The earnings disappointed, the stock tanks the following day, and my calls are worthless (I guess I am smarter than to do that!)

a) Make any material impact on your overall financial stability/status at all?

It would certainly hurt a great deal, not only cutting the extra 2 or 3K I throw in to supplement my regular income monthly, but would leave a big psychological scar. On the flip side, I would have consoled myself that over the years since I placed my first trade, I have brought out more than I brought into the market even with that loss.

b) Would you have stopped for the year or grabbed another 76k and try to homerun it?

Hahaha. Would certainly have taken a good break, re-evaluated, and when I felt confident again, started with a much smaller figure.

c) Would you have used a smaller amount and traded differently?

Would have traded exactly my normal way, if I still believed I have an edge. I do not think my normal way could lead to such a dramatic loss all at once. Whatever could have led to the loss of 76K would have been an aberration, a flagrant violation of commonsense.

thanks, Neke.

You are welcome
 
Weekly Update for week 42 ended 12/14/2007

Now five in a row. Lost nearly 21K. It is horrible to be ending the year this way, with only one more week to go. Why could I not keep away if there are no compelling plays? Need to work on that as I get ready for the new year. There wasn't any need to loss 8K shorting RIGL (in two attempts): who knew the type of momentum that happened on Thursday was still possible in this market environment. The stock opened at $14 (up 75%) and ended at $26 (+85% from open. I've got to develop some automated strategy to capture a move like that! Just one of that, and your quarter could be made!).

Will be on vacation for three weeks after next week, and won't be able to trade. Doing a lot of strategy testing now for some automated stuff, which I will add to my discretionary work next year.

Code: 
Balance B/F:                   		160,223
Net Loss for the week 		        -20,877
------------------------------------------------
Balance C/F:                   		139,346
Number of Trades	            	 20
Number of Profitable Trades    	    	  8

Since Inception of Thread   2/25/2007 - 12/14/2007

Balance B/F:                   		 76,636
Net Gain (Less Margin Interest)		143,710
Cash Withdrawal		       		-81,000
------------------------------------------------
Balance C/F:                   		139,346 (Adjusted balance before withdrawals is 220346, up 188% )
Number of Trades	           	 1114
Number of Profitable Trades        	 630

Expected Balance at this time to be on track for Year-End Target : 
			       459,150

Status:			       Behind Target		(Based on adjusted balance before withdrawals)

Top/Bottom Discretionary Trades for the week

TICKER	ENTRY DATE/TIME		EXIT DATE/TIME		QTY	PURCHASE AMT	SOLD AMT	GAINS/LOSS	TYPE

SYHXT	2007-12-11-14-31-46	2007-12-11-15-59-23	10000	25900		35000		8920		SPY DEC PUT
BIIB	2007-12-13-11-54-02	2007-12-13-15-51-49	2000	111160		116020		4838		LONG
----------------------------------------------------------
PRQXM	2007-12-13-09-30-58	2007-12-13-10-47-57	18000	19350		11700		-7950		COST DEC PUT
CELG	2007-12-10-09-43-26	2007-12-10-10-32-59	3000	157634		147720		-9946		LONG
							

                                        (Before Interest and Other charges)
                                        TRANSACTIONS ANALYSIS FROM 2007-02-25 TO 2007-12-15

                             Current Week                                    |	Since Inception of Thread
                                                                             |                                           
                Method          Gains/Loss       No Of          Profitable   |  Gains/Loss       No Of       Profitable  
                                                Trades              Trades   |                  Trades           Trades  
Automated       AutoTrade1               0           0                   0   |        5652         208              116  
                AutoTrade2               0           0                   0   |        3372          12                8  
                AutoTrade3               0           0                   0   |       -4523           3                0  
                AutoTrade4               0           0                   0   |      -15301           3                0  
                                -----------     --------        ------------ |  -----------     ------       ------------
Total Automated                          0           0                   0   |      -10800         226              124  
                                -----------     --------        ------------ |  -----------     ------       ------------
Discretionary   Long                   472           5                   4   |      -74813         293              172  
                Short                -9655           9                   3   |       73681         322              187  
                Options(long)       -11716           6                   1   |      156181         273              147  
                                -----------     --------        ------------ |  -----------     ------       ------------
Total Discretionary                 -20899          20                   8   |      155049         888              506  
                                ===========     ========        ============ |  ===========     ======       ============
Net Totals                          -20899          20                   8   |      144249        1114              630  
                                ===========     ========        ============ |  ===========     ======       ============
 

Attachments

Hey Neke....been watching your progress all year....and I have to say, you gave it one hell of a run. The market has a way of wrecking even the best laid plans. While you may not have hit your target of 500k,you have done an excellent job especially at enduring and persevering through those gut wrenching drawdowns.

Keep up the good fight, you'll get it next year!
 
Status
Not open for further replies.
Back
Top