Just from the title of this thread, one can tell it's going to involve a high risk strategy. If he makes it to 500k, he'll be praised like Dan Zanger as a trading master or seen as a fool who ignored mm. Either way I'll admire Neke for taking such large risk, because most traders dont have the "balls" for it.
Taking 76K to 500K by Year End
- Thread starter neke
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As expected, Mr. Papertrading god JimmyJam comes and try to give out lecture and hijack another thread.
Neke, I know you aspire to be like JimmyJam and his 10k papertrading account (puke) but don't let that bring you down. Keep doing what you're doing. If you trade like JimmyJam and Michael Scott, you might as well leave your money in a "super high-yield" savings account that pays 2% annually. He's like the Mr. Mom who gives advices that no one wants.
Keep doing what you're doing Neke. Despite this drawdown, you're still doing quite good. Good luck!
Neke, I know you aspire to be like JimmyJam and his 10k papertrading account (puke) but don't let that bring you down. Keep doing what you're doing. If you trade like JimmyJam and Michael Scott, you might as well leave your money in a "super high-yield" savings account that pays 2% annually. He's like the Mr. Mom who gives advices that no one wants.
Keep doing what you're doing Neke. Despite this drawdown, you're still doing quite good. Good luck!
If you think telling Neke the 33% drawdowns aren't the way to go and represents nothing more than gambling with excessive risk equals jealousy, you're a complete moron (how's that for highlights).
The key to good trading is managing risk (there's the tidbit of wisdom), and I could give a shit what you, Neke or anyone else thinks about me saying it on this thread (which is sorely lacking in it).
Still enjoying your weekend? I'm having a blast here.
Jimmy Jam
P.S. Point-in-fact, I honestly thought Neke was going to shoot for turning 75k to 500k by year end, like his thread title states, and if he were using good money management and position sizing in his trades, while not easy, it would be very doable.
Instead it's just turned into a wild roller-coaster ride equity ride, with the chances of him actually doing it (this year) being very slim if he doesn't change up[p/i] his game.
There, I've dropped some more knowledge on you clowns (as per your request FGBS), I hope that'll hold you for now, because it's time to hit the gym.
I am new here... and I have to side with Jimmyjam here... I am up about 130% this year on my account (swing trading stocks only) and have not had to trade this way. to each his own for sure BUT the return is possible without drawdowns this dramatic.. Huge leverage AND emotional stop-less trading DON'T mix.. You can get away with each separately for a while.. Nothing wrong with most single aspects of trading.. it's various combinations that cause trouble or great fortunes.. And to have meetings while in such positions unprotected how in the world can you focus on either?
Much better to do something that is repeatable (76k to 500k I believe is quite achievable), but to do it with being lucky 2 or 3 bad trades didn't trash the account is a waste because these habits will eventually do you in.. if not this year then next year..
Much better to do something that is repeatable (76k to 500k I believe is quite achievable), but to do it with being lucky 2 or 3 bad trades didn't trash the account is a waste because these habits will eventually do you in.. if not this year then next year..
Most of us have had an experience where we spent a lot of time doing something and then the result is negative. That experience could be in trading or in your social world like a marriage/divorce or in the business world with the job that didnt seem to work out although you worked your butt off.
I just hope Neke will be careful enough with his strategy so he doesnt have to live through that experience. I support Neke and hope that he exercises caution and common sense so he will not have to live through the agony of defeat.
I just hope Neke will be careful enough with his strategy so he doesnt have to live through that experience. I support Neke and hope that he exercises caution and common sense so he will not have to live through the agony of defeat.
Thanks for your concern. It's just sort of funny that the volatility in my account is causing some readers more agony that it is causing me. Accepted I sometimes go beyond the exposure I intended, but overall I am comfortable with the measured risk I am taking.
Cutting out those impulsive leverage is what I am committed to doing, and, believe it or not, I have made much progress along those lines. But in any case, even with my well-chosen leverage, I expect significant drawdowns and am not afraid to take those.
And if I recall, you are deep into Technical Analysis. What do you see in my equity curve? I do see higher lows, and higher highs
Quote from neke:
And if I recall, you are deep into Technical Analysis. What do you see in my equity curve? I do see higher lows, and higher highs
You know a good trade might be shorting the volatility of your equity curve. I have to find the ticker.. still searching... maybe buy some bearish vertical put spreads on nex for sep07.
We just want to see you win, thats all...
Weekly Update for week 24 ended 08/10/2007
Spectacular week!
Another record one-week gain for the past one year (up 67%). Glad to have recovered all of last week's loss plus some more. A few weeks ago it was momentum madness, now it is extreme volatility turning up some great trades if you have the guts to be contrarian.
On monday bought 80 MA AUG 130 CALLS after the market started the day lower, closed it some two and half hours later for a gain of 16K. Too bad I did wait for the end of the day. It could have been much bigger gain. Friday was another banner day. Saw the market having a bad open, as follow-on to thursday's fall. Picked on CMI (trading about 104). I was initially hesitant since the AUG 110 calls were trading with a terrible spread (bid 1.40 ask 2.40). Eventually decided to brave it, bought 100 calls at 2.20 and another 100 at 2.05. Closed it at prices between 4.30 and 5.50 (including another 100 calls bought after closing some of the initial positions). Again I could have made much more if I had been patient and held till close of market. On the negative side, lost 22K on RIMM AUG 220 calls, as the stock showed no bounce.
Pleased with the continued good performance of AUTOTRADE2, when it catches a trade. AUTOTRADE1 is still under observation with limited buying power.
Glad to once again cross above the trend line (for the third time). I hope this time it is permanent. 24 weeks gone, 20 weeks to go to year end.
Screen shots of account balance, P/L and equity trend are attached. The Gainskeeper statement as always fails to include the P/L for the latest trading day.
Spectacular week!
Another record one-week gain for the past one year (up 67%). Glad to have recovered all of last week's loss plus some more. A few weeks ago it was momentum madness, now it is extreme volatility turning up some great trades if you have the guts to be contrarian.
On monday bought 80 MA AUG 130 CALLS after the market started the day lower, closed it some two and half hours later for a gain of 16K. Too bad I did wait for the end of the day. It could have been much bigger gain. Friday was another banner day. Saw the market having a bad open, as follow-on to thursday's fall. Picked on CMI (trading about 104). I was initially hesitant since the AUG 110 calls were trading with a terrible spread (bid 1.40 ask 2.40). Eventually decided to brave it, bought 100 calls at 2.20 and another 100 at 2.05. Closed it at prices between 4.30 and 5.50 (including another 100 calls bought after closing some of the initial positions). Again I could have made much more if I had been patient and held till close of market. On the negative side, lost 22K on RIMM AUG 220 calls, as the stock showed no bounce.
Pleased with the continued good performance of AUTOTRADE2, when it catches a trade. AUTOTRADE1 is still under observation with limited buying power.
Glad to once again cross above the trend line (for the third time). I hope this time it is permanent. 24 weeks gone, 20 weeks to go to year end.
Screen shots of account balance, P/L and equity trend are attached. The Gainskeeper statement as always fails to include the P/L for the latest trading day.
Code:
Balance B/F: 155,826
Gain for the week (less Interest) 104,348
------------------------------------------------
Balance C/F: 260,174
Number of Trades 35
Number of Profitable Trades 26
Since Inception of Thread 2/25/2007 - 08/10/2007
Balance B/F: 76,636
Net Gain (Less Margin Interest) 224,538
Cash Withdrawal -41,000
------------------------------------------------
Balance C/F: 260,174 (Adjusted balance before withdrawals is 301174, up 293% )
Number of Trades 608
Number of Profitable Trades 353
Expected Balance at this time to be on track for Year-End Target :
213,172
Status: Ahead of 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
CDMHB 2007-08-10-09-39-15 2007-08-10-14-14-48 30000 82500 138100 55068 OPTIONS (CMI AUG 110 CALL)
MAHF 2007-08-06-09-55-14 2007-08-06-12-31-21 8000 35280 52000 16559 OPTIONS (MA AUG 130 CALL)
---------------------------------------------------
PCLN 2007-08-08-13-49-37 2007-08-08-15-53-57 3000 238650 233194 -5480 SHORT
RFYHD 2007-08-10-09-47-44 2007-08-10-14-44-14 28000 76700 54660 -22511 OPTIONS (RIMM AUG 220 CALL)
(Before Interest and Other charges)
TRANSACTIONS ANALYSIS FROM 2007-02-25 TO 2007-08-11
Current Week | Since Inception of Thread
|
Method Gains/Loss No Of Profitable | Gains/Loss No Of Profitable
Trades Trades | Trades Trades
Automated AutoTrade1 2208 6 4 | 10183 152 85
AutoTrade2 6414 2 2 | 12886 7 6
AutoTrade3 0 0 0 | -4523 3 0
----------- -------- ------------ | ----------- ------ ------------
Total Automated 8621 8 6 | 18546 162 91
----------- -------- ------------ | ----------- ------ ------------
Discretionary Long 14604 7 7 | -47116 158 91
Short 19742 8 5 | 44440 154 92
Options(long) 61516 12 8 | 209936 134 79
----------- -------- ------------ | ----------- ------ ------------
Total Discretionary 95862 27 20 | 207259 446 262
=========== ======== ============ | =========== ====== ============
Net Totals 104483 35 26 | 225806 608 353
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