Taking 76K to 500K by Year End
- Thread starter neke
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You can make it back easily. Just bet bigger next week to claim the gains you almost had this week.
That's cool. But I'm actually hoping that neke accomplishes his goal. Be nice for once to see someone overcome the huge odds and prove the doubters wrong.
Quote from JLB123:
heh I can tell fickle was just joking
Classic Nick Leeson move.
nontheless a right setup is always a good idea.
Best of luck, Neke.
Neke, thanks for the journal. So in retrospect, what do you think went wrong on the 5.8K loss? Was this caused by averaging down, loose money management, or a black swan type of gap that you couldn't have forseen? I'm not trying to roast you, but just saying that you should definitely analyze what went wrong in that situation, so as to try and avoid the same mistake later.
If I can throw in my two cents, it seems like with this trade and those damaging options plays from Jan that you are risking too much capital per position, as a % of your account equity.
neke,
just one word of advice from someone who had similar goals to you last year... when you get near to that 500k, DON'T hold out for the final figure. I've been there, and gave back around 200k in january.. (also on AAPL!).. the temptation to hold on to the positon for that extra few grand is often the killer..
I also trade equity and equity options.. exclusively on AAPL, and have similar targets. went from 200k to just under 600k, but was shooting for 1m and ended up getting burn on the pre-iPhone dip, going back down to 400k... oh well, lesson learned! This year I'm going to be much more conservative, and just shoot for 100% on the year.
Not sure what your strategies are, but I guess they're not a million miles from mine.
edit: just read back a few pages, and your strategies do seem rather different from mine. (I sell strangles for income through the year and then place a few big LEAPS trades when the stock capitulates).
GL
just one word of advice from someone who had similar goals to you last year... when you get near to that 500k, DON'T hold out for the final figure. I've been there, and gave back around 200k in january.. (also on AAPL!).. the temptation to hold on to the positon for that extra few grand is often the killer..
I also trade equity and equity options.. exclusively on AAPL, and have similar targets. went from 200k to just under 600k, but was shooting for 1m and ended up getting burn on the pre-iPhone dip, going back down to 400k... oh well, lesson learned! This year I'm going to be much more conservative, and just shoot for 100% on the year.
Not sure what your strategies are, but I guess they're not a million miles from mine.
edit: just read back a few pages, and your strategies do seem rather different from mine.
(I sell strangles for income through the year and then place a few big LEAPS trades when the stock capitulates).GL
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