Taking 76K to 500K by Year End

midlifeguy · Aug 10, 2007

NEKE-
Awesome trading. Where are you getting your ideas?
Amazing returns.

Code:
Quote from neke:

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.

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 =========== ======== ============ | =========== ====== ============

FGBS · Aug 11, 2007

Good way to come back and get the momentum back. So happy that I won't be spending my weekend here to the the "told you so" posts!

Just out of curiosity... when so much money is on the line how many hours do you spend concentrating on the day job and how many hours do you spend checking quotes and oppertunities?

Enjoy the weekend and gluck next week!

scriabinop23 · Aug 11, 2007

I'll just admit I'm a little envious of those numbers. Great work. (not deeply envious... don't worry) I hope to some day be pulling that off.

That should stave off the naysayers for a week or two.

stocktest · Aug 11, 2007

congrats

2006 · Aug 11, 2007

A little risky I must say.

I see your playing reversals -- when they occur you usually get a good move, when they don't it can get ugly -- especially if your paying a large spread ala options.

Congrats -- you da man.

neke · Aug 11, 2007

Quote from JimmyJam:

If you're sitting here and congratulating Neke on his swinging for the fences style of trading, it's very easy to emulate him.

Just put up 33% of your capital on your next trade and "see what happens" ... if you succeed, the fools will line-up (like all of you have) and contragatulate you.

If you don't ... well, you still get two more swings.

It's amazing what passes for "trading" around these parts, and even more amazing what people think is good.

Rember, 33% on your next trade, and yes, you to can trade like Neke.

Later Clowns,

Jimmy Jam

Looks like you are so numerically challenged you do not realise that 33% decline 3 times in sequence on current balance does not amount to a 100% loss. Do the maths. Start with 100000, loss 33%, repeat with balance, loss 33%. Do it again. What does the final drawdown come to? 99 or 100% in your head. Sorry, either way that is VERY wrong! Do enroll for a basic arithmetic course!

And talking of probability of that happening. Two of such drawdowns in 24 weeks. Average 1 in 12 weeks. Three times in a row. Probability is 1 in 1728 weeks (33 years!). Yes it can happen in the next 33 years after taking the account to billions (at current run rate), while you sit and watch. And for your information 3 in sequence is a drawdown of about 70%, not 100%.

Add basic Probability theory to the list of courses you should enroll in.

JimmyJam · Aug 11, 2007

Quote from neke:

Looks like you are so numerically challenged you do not realise that 33% decline 3 times in sequence on current balance does not amount to a 100% loss. Do the maths. Start with 100000, loss 33%, repeat with balance, loss 33%. Do it again. What does the final drawdown come to? 99 or 100% in your head. Sorry, either way that is VERY wrong! Do enroll for a basic arithmetic course!

And talking of probability of that happening. Two of such drawdowns in 24 weeks. Average 1 in 12 weeks. Three times in a row. Probability is 1 in 1728 weeks (33 years!). Yes it can happen in the next 33 years after taking the account to billions (at current run rate), while you sit and watch. And for your information 3 in sequence is a drawdown of about 70%, not 100%.

Add basic Probability theory to the list of courses you should enroll in.

Ya, good luck with the next gamble!

JJ

Grandeur · Aug 11, 2007

Quote from JimmyJam:

If you're sitting here and congratulating Neke on his swinging for the fences style of trading, it's very easy to emulate him.

Just put up 33% of your capital on your next trade and "see what happens" ... if you succeed, the fools will line-up (like all of you have) and contragatulate you.

If you don't ... well, you still get two more swings.

It's amazing what passes for "trading" around these parts, and even more amazing what people think is good.

Rember, 33% on your next trade, and yes, you to can trade like Neke.

Later Clowns,

Jimmy Jam

I am not congratulating Neke yet, he hasn't reached his goal, however, I am very impressed. It is interesting to see his blotter and look back at his decisions.

Thanks and 'good luck' Neke

masterblaster · Aug 11, 2007

Dude, why not take your initial amount off the table and gamble with the house's money?

RL8093 · Aug 11, 2007

Quote from JimmyJam:

Like I said, it's amazing what passes for trading around here.

JJ

Actually what I find amazing is the intolerance and lack of appreciation for different styles of trading and different risk tolerances. These concerns were raised much earlier in the thread and addressed very well by Neke. He demonstrated with his explanation that he is fully aware of the risks of his approach and is probably more well-versed on what size of drawdowns to expect w/ his style of trading than 98% of the people on ET.

No one in this thread, other than Neke, has any grasp of his complete financial situation, yet many feel compelled to repeatedly recommend that he stop trading, forget his goal, take larger/more-frequent withdrawals, etc, etc, etc ... ad nauseam ...

Give it a break.

Neke has set a goal and is well on his way to achieving it. For reasons unknown (but much appreciated), he has decided to share this journey w/ us despite having to endure one of the least supportive climates (some exceptions noted) imaginable here on ET. And share it openly & honestly w/ all the warts included. How many of us would be willing to share these drawdowns, knowing the barrage of disparagement that awaits?

Instead of all of the posers on ET who pretend to make money or the buy-and-hold crowd who have no clue what trading means or the steady stream of prognosticators who try to impress w/ prescient (not) mkt calls - here we have someone regularly making profits - and he gets a steady stream of criticism ...

I suggest that if you are uncomfortable w/ his style, approach, drawdowns, results, etc - that you simply read other threads or look inside yourself for the issues to be resolved.

R