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Taking 76K to 500K by Year End
- Thread starter neke
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I wish Neke well in his exploits, but it is this journal that is the reason why I keep my dayjob. There is simply too much risk involved in trading your own money.
I reiterate my earlier post in a different thread where I believe someone with kids or married should not take up a life of trading.
I reiterate my earlier post in a different thread where I believe someone with kids or married should not take up a life of trading.
Quote from michaelscott:
I wish Neke well in his exploits, but it is this journal that is the reason why I keep my dayjob. There is simply too much risk involved in trading your own money.
I reiterate my earlier post in a different thread where I believe someone with kids or married should not take up a life of trading.
Your point is well-made and taken in the spirit of positive energy which I am sure you mean for it to have.
But if Neke has the balls to approach his aggressive style of discretionary trading, develop automated systems(s) and balance the two styles, as well as hold down the responsibilties of a new family, I say let'em do his thing and prove his mettle.
The more he can control his impulses and hold strictly to his discretionary rules (while continuing to implement his automated trading systems), the more he's going to prove that his is actually head and shoulders above the rest.
Good trading,
JJ
Hey neke I have not started trading, but you are probablt one of the reasons why i want to start trading. I admire someone like yourself that risks it all to try to achive their goal. I admire the fact that you are taking a risk when most people doing. Risk taking is the difference between people who make money and people who dont. I hope that all goes well for you, and if you can give me some advice on how to start trading and where to start? any books? videos? seminars? etc. What do you think is the ideal amount of money that i should start off with? im 20 and im a college student, but i do have a good job. thanks and best of luck
I once saw this ex-trader on television. He was heavily leveraged in 1987 when the crash came and it all but wiped him out. So what did he do? He went to Las Vegas and became a professional card player...
The risk takers keep getting riskier...
The risk takers keep getting riskier...
Quote from JimmyJam:
Your point is well-made and taken in the spirit of positive energy which I am sure you mean for it to have.
But if Neke has the balls to approach his aggressive style of discretionary trading, develop automated systems(s) and balance the two styles, as well as hold down the responsibilties of a new family, I say let'em do his thing and prove his mettle.
The more he can control his impulses and hold strictly to his discretionary rules (while continuing to implement his automated trading systems), the more he's going to prove that his is actually head and shoulders above the rest.
Good trading,
JJ
Weekly Update for week 18 ended 06/29/2007
This week seems to be an options week. Just couldn't turn off my eyes from the possibilities in major stocks on the move. The week began on a sad note when I realized the loss on the MS 90 CALLS bought last week after their earnings, losing 6K. Then came the major moves down and then up in the market, and the meltdown in the financial stocks. Lost again on GS CALLS, but had successes on MA, FWLT and RIMM on friday.
Altogether lost 2.5K in my automated trades (2nd successive week of loss there. Hope that changes next week), while discretionary made nearly 13.5K, for a net of nearly 11K. Still trying to develop a longer-duration type of option plays.
This week seems to be an options week. Just couldn't turn off my eyes from the possibilities in major stocks on the move. The week began on a sad note when I realized the loss on the MS 90 CALLS bought last week after their earnings, losing 6K. Then came the major moves down and then up in the market, and the meltdown in the financial stocks. Lost again on GS CALLS, but had successes on MA, FWLT and RIMM on friday.
Altogether lost 2.5K in my automated trades (2nd successive week of loss there. Hope that changes next week), while discretionary made nearly 13.5K, for a net of nearly 11K. Still trying to develop a longer-duration type of option plays.
Code:
Balance B/F: 104,117
Gain for the week 10,896
------------------------------------------------
Balance C/F: 115,013
Number of Trades 26
Number of Profitable Trades 14
Since Inception of Thread 2/25/2007 - 06/29/2007
Balance B/F: 76,636
Net Gain (Less Margin Interest) 63,377
Cash Withdrawal -25,000
------------------------------------------------
Balance C/F: 115,013 (Adjusted balance before withdrawals is 140013, up 83% )
Number of Trades 452
Number of Profitable Trades 271
Expected Balance at this time to be on track for Year-End Target :
165,066
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 TYPE
RFYGS 2007-06-29-10-57-33 2007-06-29-11-25-05 4000 27200 31800 4519 OPTIONS
UFBGT 2007-06-27-10-21-12 2007-06-29-09-48-53 1500 5550 10050 4457 OPTIONS
GPYSB 2007-06-25-15-09-25 2007-06-25-15-35-57 4000 16800 14400 -2480 OPTIONS
MSGR 2007-06-20-09-51-44 2007-06-26-11-16-33 5000 10000 4125 -5980 OPTIONSAttachments
Quote from neke:
Altogether lost 2.5K in my automated trades (2nd successive week of loss there. Hope that changes next week), while discretionary made nearly 13.5K, for a net of nearly 11K. Still trying to develop a longer-duration type of option plays.
Still net positive.
Keep on keeping on.
JJ
Quote from drwho101:
Hey neke I have not started trading, but you are probablt one of the reasons why i want to start trading. I admire someone like yourself that risks it all to try to achive their goal. I admire the fact that you are taking a risk when most people doing. Risk taking is the difference between people who make money and people who dont. I hope that all goes well for you, and if you can give me some advice on how to start trading and where to start? any books? videos? seminars? etc. What do you think is the ideal amount of money that i should start off with? im 20 and im a college student, but i do have a good job. thanks and best of luck
Yeah it is not possible to make good money without risk. Anybody that does not have any tolerance for risk would pack his money in CD, where it makes 3% per annum with certainty that every week his account should go up by 0.06%. But of course you need to take measured risk and not throw away money recklessly. It is good you asked, because I did not ask before diving into the markets. I guess you have to begin by acquainting yourself with the stock market (which is what I trade). I do not remember any specific book, but there are several out there. If you want to get into the mind of successful traders you could get Stock Market Wizards , by Schwager. Then start with a little money you can afford to lose (it's called tuition money), and make a commitment to record your observations on the market, and your trading: before long you will start observing things that work.
It was this one time, in band camp, stfu.Quote from michaelscott:
I once saw this ex-trader on television. He was heavily leveraged in 1987 when the crash came and it all but wiped him out. So what did he do? He went to Las Vegas and became a professional card player...
The risk takers keep getting riskier...
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